Automotive Manufacturers' Focus to Produce Lightweight Vehicles Boosts Demand Avenues in Automotive Lightweight Materials Market: TMR

ALBANY, N.Y., Oct. 8, 2020 /PRNewswire/ -- Automotive lightweight materials are gaining traction across the worldwide automotive sector. One of the important reasons for this popularity is the ability of automotive lightweight materials to advance the fuel economy of automobiles. Similarly, these materials widely utilized to boost the safety as well as overall vehicle performance. Owing to all these factors, the global automotive lightweight materials market is estimated to grow at rapid speed in the years ahead.

TMR's analysts highlight that the automotive lightweight materials market is likely expand at a CAGR of 7.2% during forecast period of 2019-2027. Major enterprises from the automotive industry are eyeing the development of vehicles with advanced fuel efficiency. As a result, they are growing use of automotive lightweight materials. This scenario depicts that the manufacturers of automotive lightweight materials will gain lucrative avenues in the years ahead.

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Key Findings of Automotive Lightweight Materials Market Report

    --  The automotive lightweight materials market is estimated to show
        expansion at a CAGR of 7.2% during 2019 to 2027.
    --  The total valuation of market was approximately US$ 149 Bn in 2018.
    --  On regional front, Asia Pacific accounts for lion's share in the market.
    --  China and Japan are projected to boost the expansion of Asia Pacific
        automotive lightweight materials market during assessment period.
    --  The global automotive lightweight materials market is highly fragmented
        in nature.

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Automotive Lightweight Materials Market: Key Driving Factors and Promising Avenues

    --  The global market is likely to grow at promising pace during the
        forecast period of 2019 to 2027. One of the important driving the market
        growth is growing demand for automotive lightweight materials in
        developing countries.
    --  Automotive lightweight materials find application in the manufacturing
        of light commercial vehicles (LCVs), heavy commercial vehicles (HCVs),
        and passenger vehicles. Thus, growing demand for these vehicles is
        likely support the growth of automotive lightweight materials market in
        the forthcoming years.

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    --  The government bodies of major developing countries across the globe are
        implementing stringent regulations for automotive sector. They are
        compelling automakers to develop vehicles that offer enhanced fuel
        efficiency as well as follow all regulations related to vehicle
        emissions. As a result, automotive companies in these countries have
        increased demand for automotive lightweight materials. This factor is
        pushing the growth of the automotive industry are boosting the market.
    --  In recent period, consumers across the globe are inclined toward the use
        of lightweight vehicles. As a result, automakers are finding ways to
        minimize the vehicle weight. Use of automotive lightweight materials
        helps to produce lightweight vehicle, which help in achieving improved
        fuel economy. This factor is generating tremendous demand opportunities
        in the global automotive lightweight materials market.

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Automotive Lightweight Materials Market: Competitive Assessment

    --  Major players operating in the global automotive lightweight materials
        market experience highly intense competitive landscape. Key reason
        attributed to this scenario is growing efforts of market enterprises to
        launch superior quality products.
    --  Several vendors in the automotive lightweight materials market are
        boosting their production capabilities. This move is helping them to
        fulfill the rising market demand. At the same time, many players are
        using strategy of introducing new production plant to advance their
        production capabilities.
    --  The list of important companies working in the automotive lightweight
        materials market includes Henkel AG & Co., KGaA, NovaCentrix, DuPont,
        Intrinsiq Materials, Inc., Vorbeck Materials Corporation, Inc, Johnson
        Matthey PLC, Heraeus Holding GmbH, Applied Ink Solutions, and Creative
        Materials Inc.

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The automotive lightweight materials market can be segmented as follows:


    --  Metal Alloys (Magnesium, Aluminum, and Titanium)
    --  High-strength Steel (HSS, AHSS, UHSS)
    --  Composites (Carbon Fiber, Glass Fiber, and Others)
    --  Polymers (PP, PU, ABS, PVC, PA66, and Others)


    --  Passenger Vehicles
    --  Light Commercial Vehicles (LCVs)
    --  Heavy Commercial Vehicles (HCVs)


    --  Interior
    --  Exterior
    --  Structural
    --  Powertrain
    --  Others


    --  North America
    --  Europe
    --  Asia Pacific
    --  Latin America
    --  Middle East & Africa

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