Global Automotive Lightweight Material Market Forecast to 2027 - Key Manufacturers are BASF, Covestro, LyondellBasell Industries, Toray Industries, and ArcelorMittal
DUBLIN, Aug. 6, 2019 /PRNewswire/ -- The "Automotive Lightweight Material Market by Material (Metal, Composite, Plastic, Elastomer), Application & Component (Frame, Engine, Exhaust, Transmission, Closure, Interior), Vehicle Type (ICE, Electric & Hybrid), Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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The Automotive Lightweight Material Market is Projected to Grow to USD 157.7 Billion by 2027 from USD 89.1 Billion in 2019, at a CAGR of 7.4% During the Forecast Period
Lightweight materials are used to reduce the weight of the vehicle and, thus, enhance fuel efficiency and decrease emission. The increasing stringency of emission and fuel efficiency regulations in multiple countries has compelled automotive manufacturers to reduce the weight of the vehicle. These regulations have led manufacturers to use advanced materials that are lighter than conventional materials such as steel. Also, these advanced materials have similar strength and other physical properties as steel. These materials include HSS, aluminum, titanium, magnesium, CRFP, and other plastics and elastomers.
The increase in automobile production is the key growth driver for the automotive lightweight material market. Another key factor driving the growth of automotive lightweight materials is the increasing demand for fuel efficiency and better-performing vehicles. In addition, growing environmental concerns have compelled the governments of several countries to enforce stringent emission norms. The use of lightweight materials has helped automotive OEMs to comply with the emission norms.
Upcoming emission regulations in China and India will further boost the demand for lightweight materials in these countries. India implemented BS 4 (Euro 4) standards nationwide in 2017 and is planning to implement BS6 (Euro 6)by 2020. Similarly, China plans to implement China 6 (Euro 6) emission norms after 2020. Also, European countries plan to implement more stringent emission regulations in the coming years.
The demand for lightweight materials is expected to rise due to increased automobile production and enhanced focus on comfort and safety features. Europe is estimated to be the largest market for automotive lightweight materials in 2019, followed by Asia Oceania and North America. China is projected to be the largest market for automotive lightweight material in the Asia Oceania region.
Some of the key manufacturers and suppliers in the automotive lightweight material market are BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V.(Netherlands), Toray Industries, Inc. (Japan), and ArcelorMittal (Luxembourg).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Automotive Lightweight Material Market Trend, Forecast & Opportunity
4.2 Automotive Lightweight Material Market, By Region
4.3 Automotive Lightweight Material Market, By Material Type
4.4 Automotive Lightweight Material Market, By Application
4.5 Automotive Lightweight Material Market, By Component
4.6 Automotive Lightweight Material Market, By Electric & Hybrid Vehicle
4.7 Automotive Lightweight Material Market, By Vehicle Type
4.8 Automotive Lightweight Material Market, By Ev Material Type
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Stringent Emission and Fuel Economy Regulations
5.2.1.2 Growing Government Initiatives for Weight Reduction
5.2.2 Restraints
5.2.2.1 High Cost (Material Cost and Process Cost)
5.2.2.1.1 High Material Cost
5.2.2.1.2 High Process Cost
5.2.2.1.3 Price Sensitive Nature of Developing Regions
5.2.2.2 Opportunities
5.2.2.2.1 Upward Trend of Vehicle Electrification
5.2.2.2.2 Future Potential Market in Asia Oceania
5.2.2.3 Challenges
5.2.2.3.1 Maintenance of Lightweight Material
5.3 Industry Trends and Targets
5.3.1 Light Duty Vehicles Impact the Lightweight Material Industry
5.3.2 Technological Routes for the Application of Lightweight Materials: Us
6 Automotive Lightweight Material Market, By Material Type
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions/Limitations
6.1.3 Industry Insights
6.2 Metal
6.2.1 High Strength Steel (HSS)
6.2.2 Aluminum
6.2.3 Magnesium & Titanium
6.3 Composite
6.3.1 Carbon Fiber Reinforced Polymers (CFPR)
6.3.2 Glass Fiber Reinforced Polymer( GFRP)
6.3.3 Natural Fiber Reinforced Polymer (NFRP)
6.3.4 Other Composites
6.4 Plastic
6.5 Elastomer
7 Automotive Lightweight Material Market, By Application
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions/Limitations
7.1.3 Industry Insights
7.2 Body in White
7.2.1 Europe is the Largest Market for Lightweight Material in Body in White Application
7.3 Chassis and Suspension
7.3.1 Europe is He Largest Market for Lightweight Material for Chassis and Suspension Application
7.4 Powertrain
7.4.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Powertrain Application
7.5 Closures
7.5.1 Asia Oceania is the Largest Market for Lightweight Material in Closures Application
7.6 Interiors
7.6.1 Asia Oceania is the Fastest Market for Lightweight Material in Interiors Application
7.7 Others
7.7.1 North America is the Fastest Growing Market for Lightweight Material for Other Applications
8 Automotive Lightweight Material Market, By Component
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Industry Insights
8.2 Frame
8.2.1 North America is the Fastest Growing Market for Lightweight Material in Frames as the Current Average Curb Weight of Vehicles is Higher in This Region
8.3 Wheel
8.3.1 Europe is the Largest Market for Lightweight Material in Wheels as the Use of Lightweight Materials is on Higher Side in Europe Compare to Other Regions
8.4 Bumper & Fender
8.4.1 Asia Oceania and North America are the Fastest Growing Markets for Lightweight Material in Bumper & Fender
8.5 Engine & Exhaust
8.5.1 Europe is the Largest Market for Lightweight Material in Engine & Exhaust Due to the Extensive Efforts on Engine Downsizing
8.6 Transmission
8.6.1 Use of Lightweight Material for Transmission in the RoW Region is More Compared to Other Regions
8.7 Doors
8.7.1 Europe and Asia Oceania are the Largest Markets for Lightweight Material in Doors
8.8 Hood & Trunk Lid
8.8.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Hood & Trunk Lid Due to Increase in Trend for Vehicle Weight Reduction
8.9 Seats
8.9.1 Asia Oceania is the Largest Market for Lightweight Material in Seats
8.1 Instrument Panel
8.10.1 Asia Oceania is the Largest Market for Lightweight Material in Instrument Panel
8.11 Fuel Tank
8.11.1 Asia Oceania is the Largest Market for Lightweight Material in Fuel Tank
9 Automotive Lightweight Material Market, By Vehicle Type
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions/Limitations
9.1.3 Industry Insights
9.2 Passenger Car
9.2.1 Europe is the Largest Market for Lightweight Material in Passenger Car
9.3 Light Commercial Vehicle (LCV)
9.3.1 North America is the Fastest Growing Market for Lighweight Material in LCV
9.4 Heavy Commercial Vehicle (HCV)
9.4.1 Asia Oceania is the Largest Market for Lightweight Material in HCV
10 Automotive Lightweight Material Market, By Electric and Hybrid Vehicle Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions/Limitations
10.1.3 Industry Insights
10.2 Battery Electric Vehicle
10.2.1 North America is the Largest Market for Lightweight Material in BEV
10.3 Hybrid Electric Vehicle
10.3.1 North America is the Largest Market for Lightweight Material in Hev
10.4 Plug-In Hybrid Electric Vehicle
10.4.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Phev
10.5 Electric Truck
10.5.1 North America is the Largest Market for Lightweight Material in Electric Truck
10.6 Electric Bus
10.6.1 Asia Oceania is the Largest Market in Lightweight Material for Bus Due to the Higher Sale and Usage of Electric Buses in China
11 Electric Vehicle Lightweight Material Market, By Material Type
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Industry Insights
11.2 Metal
11.2.1 BEV is the Largest Lightweight Material Market for Metals
11.3 Composite
11.3.1 BEV is the Largest Lightweight Material Market for Composites
11.4 Plastic
11.4.1 BEV is the Largest Lightweight Material Market for Plastics
11.5 Elastomer
11.5.1 Bus is the Largest Lightweight Material Market for Elastomers
12 Automotive Lightweight Vehicle Market, By Region
Companies Mentioned
-- AK Steel Corporation
-- Alcoa Corporation
-- Aleris Corporation
-- Arcelormittal
-- Asia Oceania
-- BASF SE
-- Borealis Ag
-- Covestro AG
-- Dowdupont
-- Europe
-- Lanxess
-- Lyondellbasell Industries Holdings B.V.
-- North America
-- Novelis, Inc.
-- Owens Corning
-- Posco
-- RoW
-- SGL Carbon
-- Stratasys Ltd.
-- Tata Steel
-- Thyssenkrupp AG
-- Toray Industries, Inc.
-- U.S. Magnesium LLC
-- Whb Brasil
For more information about this report visit https://www.researchandmarkets.com/r/vekh6h
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