Automotive Lightweight Materials Market By Material (HSS/AHSS (Advanced High-Strength Steel), Aluminum, Magnesium, Plastics, Thermosetting Composites), By Application (Interior, Exterior, Under Bonnet, Structural) - Growth, Future Prospects, And Competitive Analysis, 2017 - 2025

Advanced materials play a vital role in boosting the fuel efficiency of new vehicles along with ensuring high performance and safety. Light weight vehicles require less energy in acceleration and also increase the vehicle efficiency than heavier vehicles and deliver 6%-8% lesser fuel consumption. Substituting cast iron and steel components with lightweight materials such as advanced high-strength steel (AHSS), aluminum alloys, magnesium alloys, plastics, and thermosetting composites help to reduce the overall weight of a vehicle's chassis and body by 50% which in turn helps to minimize the consumption of fuel.

The global automotive lightweight materials market is anticipated to grow at a CAGR of 13.1% during 2017-2025, due to government regulations on vehicles and emission standards. Growing emphasis on strict safety regulations are altering the trends in vehicle production leading to increasing adoption of lightweight materials. All these factors contribute to the immense growth of automotive lightweight materials market.

Aluminum and AHSS are the fastest growing lightweight materials segments. Manufacturers are adopting aluminum instead of traditional material, which led to the swift demand for aluminum in structural and exterior applications such as panels and closures. AHSS provides remarkable formability and strength, and is used for frame and structure applications.

Automotive Lightweight Materials Market

The report titled “Automotive Lightweight Materials Market - Growth, Future Prospects and Competitive Analysis, 2017– 2025” offers strategic insights into the automotive lightweight material market along with the market size and estimates for the duration 2015 to 2025. The said research study covers in-depth analysis of multiple market segments based on material, application, and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2016 & 2025. The report also provides a prolific view on market dynamics such as market drivers, trends, restraints and opportunities. The report incorporates a separate section highlighting key trends analysis of the overall automotive lightweight material market.

In order to help the strategic decision makers, the report also includes profiles of the leading automotive lightweight material manufacturers, their business strategies and key developments. Some of the major players profiled in the report are Alcoa, Inc., BASF SE, Thyssenkrupp AG, Covestro AG, Arcelormittal S.A., Lyondellbasell Industries N.V., Novelis, Inc., Toray Industries, Inc., PPG Industries, Inc., and Owens Corning. The section further includes a brief on key strategies adopted by the major players operating in the market. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the automotive lightweight materials market
  • Market drivers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Trailing 2-Year market size data (2015 – 2016)
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the automotive lightweight materials market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above mentioned factors.

Based on the applications, the automotive lightweight materials market is segmented as follows:

  • Interior
  • Exterior
  • Under Bonnet
  • Structural

Automotive Lightweight Materials Market

The structural is the largest application segment and is expected to continue to dominate the market during the forecast period. Structural segment comprises of chassis, body panels, and cross-members. As structural segment reside the highest percentage of the overall weight of the vehicle, automotive OEMs are focused on the weight reduction and to improve the strength of the vehicle by using lightweight materials. Aluminum is extensively used in under bonnet for engines, heat transfer. Engine accounted for more than 35% of aluminum in the automotive industry. Aluminum engine block significantly reduces the weight of the engine and assists the vehicle in obtaining better power to weight ratio.

For the purpose of this study, the global automotive lightweight materials market is categorized into the following geographies and sub-geographies:

  • North America (U.S, and Canada)
  • Europe (France, Germany, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, India, and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East and Africa (GCC, and Rest of Middle East and Africa)

Automotive Lightweight Materials Market

North America is the largest market for automotive lightweight material. North American government had introduced the corporate average fuel economy (CAFE) standards for all the light duty vehicles manufactured, due to which the demand for lightweight materials is expected to rise in the forecast period. North America market is likely to grow with more than 5.5% of growth rate in the forecast period. Europe is another lucrative market for the automotive lightweight materials. The lightweight materials market in the region is majorly driven by rising demand for fuel efficiency, low CO2 emission and government regulation. In the forecast period Asia Pacific is projected to be the fastest growing region for automotive lightweight material market due to increasing demand for passenger cars and LCV. India and China are the largest producer of cars for the major brands which in turn drives the demand for automotive lightweight material market in Asia Pacific.

Based on the material type, the global automotive lightweight materials market is segmented as follows:

  • HSS (High Strength Steel)/AHSS (Advanced High-Strength Steel)
  • Aluminum
  • Magnesium
  • Plastics
  • Thermosetting Composites

Automotive Lightweight Materials Market

AHSS is an incumbent material in automotive industry and had the largest share in the automotive lightweight materials market in 2016 due to its affordability, high performance, and recyclability. AHSS assists in reducing structural weight of vehicles by approximately 25%, and the new third generation AHSS is expected to reduce it further to more than 35%. Aluminum is projected to the fastest growing segment in the forecast period. By 2025, aluminum is expected to encompass more than 24% of large cars, 22% of SUVs, 75% of pickup-truck body parts, and 18% of minivan body and closure parts. This helps in achieving nearly 8.2% lesser energy consumption in the entire vehicle life cycle, along with reduction in around 10.3% of CO2 emissions.

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Published Date:  Sep 2017
Category:  Advanced Materials
Report ID:   58669
Report Format:   PDF
Pages:   120
Rating:    4.3 (60)
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