Global Lightweight Automotive Materials Market by Product Types, Applications, Vehicle Types and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026.
The global lightweight automotive materials market was valued at USD 89 billion in 2019 and is expected to reach USD 153.2 billion by 2026, expanding at a CAGR of 7.4% during the forecast period, 2020–2026. Growth of the market is owing to increasing installation and adoption of lightweight materials such as magnesium and aluminum-based components in vehicles as well as increasing automation in the automotive industry.
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Market Trends, Drivers, Restraints, and Opportunities:
- Increase in manufacturing of even, smooth and textured components in production and manufacturing facilities, is considered as one of the key factors towards the growth of market in the forecast period.
- Rising average life of vehicles is promoting the global lightweight automotive materials
- Stringent government regulations and policies has forced automotive OEMs to increase the usage of lightweight materials in manufacturing of vehicles.
- Theirs an increase in the highway connectivity, resulting in new routes causing an increase in production of vehicles. Thereby it increased the demand for automotive parts during the forecast period.
- Growth of e-commerce sector is promoting the sale of lightweight automotive parts through online distribution channel.
- The need for automobile industries to upgrade and modify vehicles, increase in road transport routes and technological advancements, fuels the growth of the global lightweight automotive materials
- Due to fluctuating raw material prices and introduction of counterfeit products as well as high cost of lightweight materials and components is negatively impacting the global lightweight automotive materials
- Lightweight materials have great strength and rigidity however, it requires high maintenance which hampers the growth of the market.
- Increase in investments by private sector organizations in research and development in production of novel product, offers growth opportunities in the market.
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Competitive Landscape:
Key players in the global lightweight automotive materials market are Henkel Corporation, LyondellBasell Industries, Pace Industries, SGL Group, ThyssenKrupp AG, Hexcel Corporation, Nippon Graphite Fiber Corporation, Mitsubishi Rayon Co. Ltd., Zoltek Companies Inc., China Hongqiao Group Ltd., Aluminum Corporation of China, UC Rusal, A&S Magnesium Inc, Kaiser Aluminum and Yanagawa Seiki. There’s an increase in rivalry among key players due to the consolidation of market by OEM suppliers by acquisition of parts manufacturer and local suppliers.
The global lightweight automotive materials market has been segmented on the basis of
Product Types
- Metal
- Composite
- Plastic
- Elastomer
Applications
- Body-in White
- Chassis & Suspension
- Transmission
- Exhaust
- Powertrains & Closure
- Bumpers & Fenders
- Hoods & Trunk Lids
- Interior
Vehicle Types
- Internal Combustible Engine
- Electric
- Hybrid
Regions
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Lightweight Automotive Materials Market Overview
- Global Lightweight Automotive Materials Market Analysis and Forecast by Type
- Global Lightweight Automotive Materials Market Analysis and Forecast by Application
- Global Lightweight Automotive Materials Market Analysis and Forecast by Sales Channel
- Global Lightweight Automotive Materials Market Analysis and Forecast by Region
- North Lightweight Automotive Materials Market Analysis and Forecast
- Latin Lightweight Automotive Materials Market Analysis and Forecast
- Europe Lightweight Automotive Materials Market Analysis and Forecast
- Asia Pacific Lightweight Automotive Materials Market Analysis and Forecast
- Middle East & Africa Lightweight Automotive Materials Market Analysis and Forecast
- Competition Landscape
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