Automotive Lightweight Materials Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Automotive lightweight materials are used in automobiles to reduce their weight and increase their speed and fuel efficiency. These lightweight materials are an apt replacement for heavy generic materials previously used to build vehicles' frames due to advantages such as less material consumption, enhanced strength, low corrosion rate, and improved handling. Carbon fiber is one such material used extensively by automobile companies worldwide, reducing vehicle weight while preserving strength.

MARKET DYNAMICS

The automotive lightweight materials market has witnessed significant growth due to automobile companies that have adopted lightweight materials to curb the pollution,. Moreover, increasing production of organic chemicals for use in different reactions being carried out in chemical industries such as alkylation, bromination provides a huge market opportunity for the key players operating in the automotive lightweight materials market. However, higher pricing of lightweight materials, such as carbon fibers and few composite materials, than generic materials increases the overall cost of the vehicle which is projected to hamper the overall growth of the automotive lightweight materials market in the forecast period.

MARKET SCOPE

The "Global Automotive Lightweight Materials Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive lightweight materials market with detailed market segmentation material, application, vehicle type, and geography. The global automotive lightweight materials market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive lightweight materials market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global automotive lightweight materials market is segmented on the basis of material, application, and vehicle type. On the basis of material, the global automotive lightweight materials market is divided into metal, composite, plastic, and elastomer. On the basis of application, the global automotive lightweight materials market is divided into frame, engine, exhaust, transmission, closure, and interior. On the basis of vehicle type, the global automotive lightweight materials market is divided into ICE, electric & hybrid.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive lightweight materials market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The automotive lightweight materials market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the automotive lightweight materials market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive lightweight materials market in these regions.

MARKET PLAYERS

The reports cover key developments in the automotive lightweight materials market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as material launches, material approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from automotive lightweight materials market is anticipated to lucrative growth opportunities in the future with the rising demand for automotive lightweight materials in the global market. Below mentioned is the list of few companies engaged in the automotive lightweight materials market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive lightweight materials market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Alcoa Corporation
  
•   Aleris Corporation
  
•   ArcelorMittal
  
•   BASF SE
  
•   Covestro AG
  
•   LyondellBasell Industries Holdings B.V.
  
•   Novelis, Inc.
  
•   Posco
  
•   Tata steel
  
•   Toray Industries, Inc.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive Lightweight Materials Report Scope