Automotive Lightweight Material Market to Exhibit a Remarkable CAGR of 7.70% by 2029, Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

Data Bridge Market Research analyses that the automotive lightweight material market was valued at USD 68.1 billion in 2021 and is expected to reach the value of USD 123.27 billion by 2029, at a CAGR of 7.70% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition:

Automotive lightweight materials are primarily used to replace cast iron and traditional steel components in various vehicle types such as electric, plug-in, and hybrid electric vehicles. They are used in structural elements that allow vehicles to be equipped with advanced safety devices, integrated electronic systems, and emission control systems. The use of lightweight materials in automobiles reduces the weight of their power systems, such as electric motors and batteries, while increasing efficiency and all-electric range. High-strength steel, aluminium alloys, polymer composites, carbon fibre, magnesium alloys, and other lightweight materials are commonly used in the automotive industry.

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Some of the major players operating in the automotive lightweight material market are:

KIRCHHOFF Automotive (Germany)
Magna International Inc. (France)
Gestamp (Spain)
TOYOTA BOSHOKU CORPORATION (Japan)
AISIN CORPORATION (Japan)
Trinseo (U.S.)
GEDIA Automotive Group (U.S.)
G-TEKT CORPORATION (Japan)
Martinrea International Inc. (Canada)
Autokiniton (U.S.)
BENTELER (Germany)
Meleghy Automotive GmbH & Co. KG (Germany)
Shiloh Industries (U.S.)
Unipres Corporation (Japan)
ACMA India (India)
Pillar Innovations (U.S.)
NVH KOREA INC. (South Korea)

Competitive Landscape and Automotive Lightweight Material Market Share Analysis:

The automotive lightweight material market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive lightweight material market.

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