Press release
Surging Electric Vehicle Production Fuels Growth In The Automotive Lightweight Materials Market: A Key Factor Shaping the Future of the Automotive Lightweight Materials Market in 2025
Automotive Lightweight Materials
The growing production of electric vehicles is anticipated to boost the expansion of the automotive lightweight materials market in the coming years. Electric vehicles (EVs), which run entirely or partly on electricity, present several advantages, including lower maintenance costs due to fewer moving components, and being environmentally friendly because they use minimal or no fossil fuels. Lightweight materials like carbon-fiber-reinforced plastic are popular in contemporary electric vehicles, enabling them to operate solely on electricity, rather than functioning as hybrids. For example, in April 2023, the France-based International Energy Agency (IEA) reported that electric vehicle sales made up 14% of total new car sales worldwide in 2022, a significant increase from 9% in 2021. More than 2.3 million electric vehicles were bought in the first three months of 2023, a 25% boost compared to the same period in the previous year. Furthermore, forecasts suggest that by the end of 2023, sales of electric vehicles will have reached 14 million, indicating a 35% increase year on year. As such, the escalating production of electric vehicles is fueling the growth of the automotive lightweight materials market.
Get Your Automotive Lightweight Materials Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-lightweight-material-global-market-report
What growth opportunities are expected to drive the automotive lightweight materials market's CAGR through 2034?
The market size for automotive lightweight materials has seen considerable expansion in the past few years. The market is expected to increase from $120.2 billion in 2024 to $131.08 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. The historic period growth is credited to developments in material science, emission control regulations, consumer inclination towards performance, affordability and manufacturing improvements, as well as globalization and market rivalry.
In the coming years, the market size for automotive lightweight materials is projected to experience robust growth. It is predicted to reach $183.69 billion by 2029, with a compound annual growth rate (CAGR) of 8.8%. The projected growth during this period is attributed to various factors including eco-friendly solutions, urbanization and compact car designs, worldwide expansion of automotive production, a shift towards self-driving cars, and an increasing emphasis on electric mobility solutions. Key trends forecasted for this period include the demand for fuel-efficient vehicles, developments in material technology, adoption of electric vehicles, the necessity for emission reduction, and a focus on performance and safety.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5247&type=smp
What are the emerging trends shaping the future of the automotive lightweight materials market?
The introduction of new products and designs are becoming highly sought after in the sector of automotive lightweight materials. Major operators in this industry are concentrating their efforts on innovating fresh creations for the marketplace, substituting traditional materials with lightweight constituents like carbon fiber and aluminum. In the month of September 2024, the Indian company Viva Composite Panel Private Limited, known for their specialization in aluminum composite panels (ACP), unveiled a fresh series of lightweight aluminum composite panels. This initiative was primarily launched to bolster the safety and efficiency of bus bodies within India. These new panels are engineered to enhance the safety and efficiency of bus bodies meeting the soaring demand for lightweight materials within the automotive industry. The automotive sector is showing a growing trend toward the adoption of aluminum owing to its low density and superior strength-to-weight ratio, factors that contribute greatly to fuel efficiency and emission reduction. This move aligns perfectly with the wider industrial trend of employing automotive aluminum lightweight substances to boost vehicle performance and bring down overall weight.
Which growth-oriented segments of the automotive lightweight materials market are leading the industry's development?
The automotive lightweight materials market covered in this report is segmented -
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
Subsegments:
1) By Metals: Aluminum Alloys, High-Strength Steel, Magnesium Alloys, Titanium Alloys
2) By Composites: Carbon Fiber Reinforced Polymers (CFRP), Glass Fiber Reinforced Polymers (GFRP), Natural Fiber Composites, Hybrid Composites
3) By Plastics: Polypropylene (PP), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Thermoplastic Olefins (TPO)
4) By Elastomers: Thermoplastic Elastomers (TPE), Polyurethane (PU) Elastomers, Silicone Elastomers
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5247
What regions are leading the charge in the automotive lightweight materials market?
Europe was the largest region in the automotive lightweight materials market in 2024. North America was the second-largest market in the automotive lightweight materials market share. The regions covered in the automotive lightweight materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the automotive lightweight materials market?
Major companies operating in the automotive lightweight materials market include BASF SE, ArcelorMittal SA, Pohang Iron and Steel Company, Saint-Gobain SA, Saudi Basic Industries Corporation, LyondellBasell Industries Holdings B.V., ThyssenKrupp AG, Mitsubishi Chemical Corporation, 3M Company, Tata Steel Company, Henkel AG & Co., Covestro AG, Toray Industries Inc., Novelis Inc., DuPont De Nemours and Company, Alcoa Corporation, Owens Corning Fiberglass Company, Huntsman Corporation, Teijin Limited, Lanxess AG, AK Steel Corporation, Borealis AG, SGL Carbon Graphite Technic Co. Ltd., Stratasys Ltd., Aleris Corporation, WHB Brasil Automotive, NovaCentrix Corp., Vorbeck Materials Corporation Inc., Intrinsiq Materials Inc.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=5247&type=smp
What Is Covered In The Automotive Lightweight Materials Global Market Report?
• Market Size Forecast: Examine the automotive lightweight materials market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive lightweight materials market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive lightweight materials market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive lightweight materials market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive lightweight materials market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive lightweight materials market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive lightweight materials market.
• Competitive Landscape: Review strategic developments in the automotive lightweight materials market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Surging Electric Vehicle Production Fuels Growth In The Automotive Lightweight Materials Market: A Key Factor Shaping the Future of the Automotive Lightweight Materials Market in 2025 here
News-ID: 3904078 • Views: …
More Releases from The Business Research Company
Strategic Forecast for the Commercial Real Estate Industry: Market Outlook 2025- …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Commercial Real Estate Market Size Growth Forecast: What to Expect by 2025?
The size of the commercial real estate market has significantly expanded over the past few years. The market, which is expected to increase from $5,935.22 billion in 2024 to $6,281.58 billion in 2025, will experience a compound…
The Rise Of Coffee Consumption Is Fueling The Growth Of The Market Due To Its In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Coffee Shops Market Size Growth Forecast: What to Expect by 2025?
The size of the coffee shop market has seen robust growth in the past few years. The market, which is projected to be at $83.27 billion in 2024, is expected to reach $89.17 billion by 2025 with a…
Driving Chimney Waterproofing Services Market Growth in 2025: The Role of Rising …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Chimney Waterproofing Services Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a substantial growth in the market size for chimney waterproofing services. The market is projected to expand from $1.53 billion in 2024 to $1.67 billion in 2025, demonstrating a compound annual…
Emerging Trends to Drive Ceramic Coated Separators Market Growth at 20.9% CAGR T …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Ceramic Coated Separators Market Size Growth Forecast: What to Expect by 2025?
The market size of ceramic coated separators has seen a remarkable increase in recent times, and it is set to expand from the value of $1.47 billion in 2024 to reach the value of $1.78 billion in…
More Releases for Material
Firestop Material Market
LOS ANGELES, United States: The global Firestop Material market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Firestop Material market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and…
New Material Direction for Electric Toothbrushes - Si-TPV Soft Over Molded Mater …
When it comes to factors such as consumer experience or ergonomics, Si-TPV Soft Over Molded Material has had a huge impact on the improvement of various products such as electric toothbrushes, etc. Si-TPV is a Silicone Combine TPU developed and produced by SILIKE, a Thermoplastic Elastomer Manufacturer (Thermoplastic Elastomer Suppliers). Si-TPV material adopts Innovative Soft Slip Technology and Sustainable Overmolding Techniques, which can be used to make Stain Resistance Soft…
A new light on a misjudged material - Plastic waste: material for art
Used plastic bottles are not waste, but a valuable resource. They can be reprocessed in a variety of ways and transformed into new products or fresh energy. And into art. This is exactly what Ve-ronika Richterová does. The Czech artist creates fascinating sculp-tures made out of old PET bottles.
Plastic has inspired artists from the very beginning. The reason: plas-tic meets almost all technical and aesthetic requirements. It is a uni-versal…
Global Thermal Transfer Material Market, Global Thermal Transfer Material Indust …
Thermal conductivity refers as an important characteristic for several manufacturing operations. Thermal transfer properties of a variety of materials are effective in certain applications owing to natural molecular structure that allows for direct heat-transfer. Thermal transfer materials are extensively used to manufacture the heat conductive adhesive tapes, printable products and polymer sheets. These polymer sheets are utilized for barcodes, labeling, and QR code labels for retailing, logistics, and consumer goods.…
The Future of Smart Material Market Runs Through the Material Industry
Smart Materials Market is expected to garner $72.63 billion by 2022, registering a CAGR of 14.9% during the forecast period 2016-2022. Smart materials are adaptive or intelligent materials which pose intrinsic and extrinsic capabilities. These can be altered by external stimuli, such as moisture, temperature, electromagnetic field, and pressure to obtain the desired functional effects. In addition, these materials are dynamic in nature and respond to their immediate interaction environments…
Global Regenerative Artificial Skin Sales Market Research Report 2017 (Temporary …
The report "Global Regenerative Artificial Skin Sales Market Report 2017", has been prepared based on an in-depth market analysis with inputs from industry experts.
This report studies sales (consumption) of Regenerative Artificial Skin in Global market, especially in United States, China, Europe and Japan, focuses on top players in these regions/countries, with sales, price, revenue and market share for each player in these regions, covering
Integra Life Sciences Corporation
Mylan N.V
Johnson & Johnson…
