Automotive Lightweight Material Market Growth Opportunities & Industry Size is Expected to Reach USD 142.36 Billion by 2032, to grow at a CAGR of 7.1% | PMR

The automotive lightweight material market is projected to be valued at USD 76.85 billion in 2023 and is anticipated to reach USD 142.36 billion by 2032. The industry is anticipated to expand at a CAGR of 7.1% from 2024 to 2032. Various factors propelling the demand for these materials include:

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/automotive-lightweight-material-market/request-for-sample

• The growing demand for electric and hybrid vehicles has led to increased significance of lightweight materials, driving the automotive lightweight material industry growth.

• The growing emphasis on lowering fuel consumption drives the demand for automotive lightweight materials.

• Advancements in material science and manufacturing technologies are further supporting the development of the industry.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐢𝐠𝐡𝐭𝐰𝐞𝐢𝐠𝐡𝐭 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬?

The automotive sector has undergone significant transformation over the past few decades. With the rising need for new-age designs and features, advanced manufacturing materials and technologies are taking over conventional manufacturing methods. Automotive lightweight materials are one of the latest additions to the realm of automobiles. Put simply, automotive lightweight materials are materials exhibiting a high strength-to-weight ratio. Along with that, they have superior corrosion resistance and provide sustainable design flexibility. Automotive lightweight materials take the form of metals, polymers, composites, and elastomers. They're used in the manufacturing of a wide range of automotive parts, including powertrain & chassis, engines, interior, and HVAC & electrical systems.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

Manufacturers in the global automotive lightweight material market are actively engaged in various strategic initiatives to keep up with the changing needs of the automotive sector.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

• AK Steel Corporation
• Alcoa Corporation
• ArcelorMittal
• BASF
• Borealis
• Covestro
• LyondellBasell Industries
• Novelis
• Owens Corning
• POSCO
• SGL Carbon
• Stratasys Ltd.
• ThyssenKrupp AG
• Toray
• WHB Automotive

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/532/2

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

• The market segmentation is primarily based on material type, vehicle type, application, and region.

• By material type analysis, the metals segment dominated the market by holding the highest market share as metals are the preferred choice in the automotive sector.

• By vehicle type analysis, the passenger cars segment accounted for the highest share of the automotive lightweight material market owing to the unique requirements and preferences of the segment.

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/automotive-lightweight-material-market

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐢𝐠𝐡𝐭𝐰𝐞𝐢𝐠𝐡𝐭 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• Metals dominated the market in 2023, accounting for the largest market share, because metals are the preferred choice in the automotive industry, particularly for achieving light-weighting goals. The dominance of metals is due to their high strength-to-weight ratio.

• The passenger car segment has held the largest market share due to the unique requirements and preferences of the passenger car segment. The passenger car sector has a higher demand for improved fuel efficiency and lower emissions.

• Europe is expected to have the largest market share due to regulatory initiatives, consumer preferences, and the strong presence of automotive manufacturers such as Audi, BMW, Mercedes Benz, and others. The European Union has been at the forefront of implementing strict emissions standards in the automotive industry.

• The global key market players include AK Steel Corporation, Alcoa Corporation, ArcelorMittal, BASF, Borealis, LyondellBasell Industries, Novelis, Owens Corning, POSCO, SGL Carbon, Stratasys Ltd., ThyssenKrupp AG, Toray, WHB Automotive, etc

𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐌𝐚𝐫𝐢𝐧𝐞 𝐒𝐞𝐚𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/marine-seat-market

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐢𝐠𝐡𝐭𝐰𝐞𝐢𝐠𝐡𝐭 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/automotive-lightweight-material-market

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/automotive-finance-market

𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐑𝐞𝐩𝐚𝐢𝐫 𝐌𝐨𝐫𝐭𝐚𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/concrete-repair-mortars-market

𝐌𝐢𝐧𝐢𝐧𝐠 𝐃𝐫𝐢𝐥𝐥 𝐁𝐢𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/mining-drill-bits-market

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