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Automotive Lightweight Materials Market 2023 Analysis By Size, Share, Growth, Trends Up To 2032 | BASF SE, Covestro AG, LyondellBasell Industries Holdings B.V., Toray Industries Inc., ArcelorMittal
Automotive Lightweight Material Market
Automotive Lightweight Materials Market Size, Growth Rate, And Forecast
The global automotive lightweight materials market size grew from $101.54 billion in 2022 to $116.44 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive lightweight materials market size is expected to grow to $167.05 billion in 2027 at a CAGR of 9.4%.
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Automotive Lightweight Materials Market Drivers
The surge production of electric vehicles is expected to propel the growth of the automotive lightweight material market over the coming years. Electric vehicles are automobiles that are powered entirely or partially by electricity.
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Automotive Lightweight Materials Market Segments
1) By Material Type: Metals, Composites, Plastics, Elastomer
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
3) By Application: Body In White, Chassis And Suspension, Powertrain, Closures, Interiors, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Automotive Lightweight Materials market.
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Automotive Lightweight Materials Market Key Players
Major players in the automotive lightweight material market are BASF SE, Covestro AG, LyondellBasell Industries Holdings B.V., Toray Industries Inc., ArcelorMittal, ThyssenKrupp AG, Novelis Inc., Alcoa Corporation, Stratasys Ltd., Owens Corning, Tata Steel, and POSCO.
The Business Research Company's "Global Automotive Lightweight Materials Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Lightweight Materials Market Include:
1. Executive Summary
2. Automotive Lightweight Material Market Characteristics
3. Automotive Lightweight Material Market Trends And Strategies
4. Automotive Lightweight Material Market - Macro Economic Scenario
5. Automotive Lightweight Material Market Size And Growth
……
27. Automotive Lightweight Materials Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Lightweight Material Market
29. Automotive Lightweight Material Market Future Outlook and Potential Analysis
30. Appendix
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