Automotive Lightweight Materials Market: Market Size, Trends and Growth Analysis

Automotive Lightweight Materials Market Trends and Forecast

The future of the global automotive lightweight materials market looks promising with opportunities in passenger cars, light commercial vehicles, and heavy commercial vehicles. The global automotive lightweight materials market is expected to reach an estimated $115.8 billion by 2027 and it is forecast to grow at a CAGR of 8.0% from 2021 to 2027. The major drivers of growth for this market are government regulations concerning fuel economy and emissions, and increasing utilization of lightweight materials by manufacturers. The other major driver is growth of global vehicle production which is expected to grow at a CAGR of 4.8% during the forecast period and to reach 99.7 million units by 2027.

Emerging Trends in the Automotive Lightweight Materials Market

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of aluminum in chassis and structural applications, advanced manufacturing technology, development of aluminum-air battery, third generation AHSS, and pre-oxidation to galvanize AHSS, development of recycling technologies for lightweight materials and replacement of PA 66 with cheaper and advanced PA 6.

A total of 123 figures / charts and 47 tables are provided in this 221-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global automotive lightweight materials market report.

Automotive Lightweight Materials Market by Segments

Lucintel forecasts that AHSS will remain the largest segment, and it is also expected to witness the highest growth over the forecast period. The study includes trends and forecast for the global automotive lightweight materials market by material type, vehicle type, application, and region, as follows:

Automotive Lightweight Material by Material Type [Value ($ Million) and Volume (Million Pounds) from 2016 to 2027]:

• AHSS
• Aluminum
• Magnesium
• Lightweight materials
• Composites

Automotive Lightweight Material by Vehicle Type [Value ($ Million) and Volume (Million Pounds) from 2016 to 2027]:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Automotive Lightweight Material by Application [Value ($ Million) and Volume (Million Pounds) from 2016 to 2027]:

• BIW
• Powertrain
• Interior
• Exterior
• Others

Automotive Lightweight Material by Region [Value ($ Million) and Volume (Million Pounds) from 2016 to 2027]:

• North America

US

Canada

Mexico

• Europe

Germany

France

Russia

United Kingdom

Italy

• Asia Pacific

China

Japan

India

South Korea

Indonesia

• The Rest of the World

Brazil

Turkey

List of Automotive Lightweight Materials Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive lightweight materials companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive lightweight materials companies profiled in this report includes.

• ArcelorMittal SA
• ThyssenKrupp AG
• Alcoa Inc.
• Novelis Inc.
• POSCO
• DowDuPont
• LyondellBasell
• Tata Steel Limited
• US Magnesium
• Owens Corning
• Toray
• BASF SE
• SABIC
• Huntsman

Automotive Lightweight Materials Market Insights

• Lucintel forecasts that passenger car segment will remain largest segment during the forecast period due to the increasing penetration of lightweight materials per vehicle.
• Europe is expected to remain the largest region due to increasing use of lightweight materials content per vehicle coupled with stringent government regulations to reduce carbon emissions and to increase fuel efficiency. Asia Pacific is expected to witness significant growth over the forecast period because of high vehicle production and continued increase of lightweight materials content per vehicle.

Features of the Global Automotive Lightweight Materials Market

• Market Size Estimates: Global automotive lightweight materials market size estimation in terms of value ($M) and volume (million pounds) shipment.
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
• Segmentation Analysis: Global automotive lightweight materials market size by various segments, such as by material type, vehicle type, application in terms of value and volume.
• Regional Analysis: Global automotive lightweight materials market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different segments by material type, vehicle type, application, and regions for the global automotive lightweight materials market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global automotive lightweight materials market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the automotive lightweight materials market size?

Answer: The global automotive lightweight materials market is expected to reach an estimated $115.8 billion by 2027.

Q2. What is the growth forecast for automotive lightweight materials market?

Answer: The automotive lightweight materials market is expected to grow at a CAGR of 8.0% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the automotive lightweight materials market?

Answer: The major drivers for this market are government regulations concerning fuel economy and emissions, and increasing utilization of lightweight materials by manufacturers.

Q4. What are the major type or end use industries for automotive lightweight materials?

Answer: AHSS is the major segment by material type for automotive lightweight materials.

Q5. What are the emerging trends in automotive lightweight materials market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of aluminum in chassis and structural applications, advanced manufacturing technology, development of aluminum-air battery, third generation AHSS, and pre-oxidation to galvanize AHSS, development of recycling technologies for lightweight materials and replacement of PA 66 with cheaper and advanced PA 6.

Q6. Who are the key automotive lightweight materials companies?

Answer: Some of the key automotive lightweight materials companies are as follows:

• Alcoa Inc.
• Novelis Inc.
• POSCO
• DowDuPont
• LyondellBasell
• Tata Steel Limited
• US Magnesium
• Owens Corning
• Toray
• BASF SE
• SABIC
• Huntsman

Q7. Which automotive lightweight materials product segment will be the largest in future?

Answer: Lucintel forecasts that passenger car segment will remain largest segment during the forecast period due to the increasing penetration of lightweight materials per vehicle.

Q8. In automotive lightweight materials market, which region is expected to be the largest in next 5 years?

Answer: Europe is expected to remain the largest region due to increasing use of lightweight materials content per vehicle coupled with stringent government regulations to reduce carbon emissions and to increase fuel efficiency. Asia Pacific is expected to witness significant growth over the forecast period because of high vehicle production and continued increase of lightweight materials content per vehicle.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1 What are some of the most promising growth opportunities for the global automotive lightweight materials market by material type (aluminum, AHSS, magnesium, lightweight materials and composites), vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), application (BIW, powertrain, interior, exterior, and others) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2 Which segments will grow at a faster pace and why?
• Q.3 Which region will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
• Q.5 What are the business risks and competitive threats in this market?
• Q.6 What are the emerging trends in this market and the reasons behind them?
• Q.7 What are some of the changing demands of customers in the market?
• Q.8 What are the new developments in the market and which companies are leading these developments?
• Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
• Q.1 0 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
• Q.1 1 What M&A activity has occurred in the last five years?