Automotive Lightweight Material Market by Material, Application & Component, Vehicle Type, Region - Global Forecast to 2025
DUBLIN, July 23, 2020 -- 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 2025" report has been added to ResearchAndMarkets.com's offering.
The global automotive lightweight material market post COVID-19 is estimated to grow from USD 69.7 billion in 2020 to USD 99.3 billion by 2025, at a CAGR of 7.3%.
Factors contributing to the growth of automotive lightweight material can be attributed to stringent emission and fuel economy regulations. Moreover, advancement in automotive and technology enabling reduced material usage will increase the demand for automotive lightweight material in the coming years.
With progression in time, the COVID-19 impact has severely disrupted the supply chain for the entire automotive ecosystem. This has halted production facilities across the globe resulting in a disruption in the exports of the automotive components. This scenario is expected to affect automotive lightweight material market, as the growth of the market is directly related to the production of the vehicles. The global production of vehicle pre-COVID-19 was expected to reach from ~90-95 million units in 2020 to ~110-115 million units by 2025. According to OICA, though global vehicle production declined by 5.2% between 2018-2019, the production outlook was supposed to showcase significant growth from 2021-2022 owing to multiple steps taken by OEMs, as well as some government, to attract customers.
Stringent emission and fuel economy regulations will drive the automotive lightweight material market
The automotive lightweight material market post COVID-19 is estimated to grow from USD 69.7 billion in 2020 to USD 99.3 billion by 2025, at a CAGR of 7.3% during the forecast period. The increasing demand for lightweight materials is driven by the rising usage of electric vehicles and stringent emission norms & fuel economy regulations. Several OEMs have set targets for CO2 reduction in the coming years.
Instrument panel is the fastest growing market, by component
The instrument panel is projected to be the fastest-growing segment in the automotive lightweight material market. With the increasing demand for lighter interior cabins from car buyers, OEMs plan to use lightweight materials in interior applications. Hence, OEMs are jointly working with component manufacturers and material providers to develop improved and lighter components. As the interior cabin contributes significantly to the overall vehicle weight, the use of lightweight materials in the cabin can help in vehicle weight reduction. Hence, the instrument panel is projected to be the fastest-growing market for automotive lightweight material.
North America is estimated to be the fastest-growing market for automotive lightweight materials, followed by Asia Oceania
North America is expected to be the fastest-growing market for automotive lightweight materials. The Corporate Average Fuel Economy (CAF) standards have compelled OEMs to enhance their vehicle lightweighting efforts. The domestic demand for passenger cars has increased due to low gas prices and low-interest rates. The demand for light trucks and vans has also witnessed rapid growth in the region. Asia Oceania, on the other hand, has seen increased usage of HSS and Aluminum, especially in the low and mid-segment vehicles. China is the fastest-growing market for automotive lightweight materials in the Asia Oceania region. Factors such as low production cost, abundant availability of metals, and safety norms have driven market growth in the region. The sale of automotive lightweight materials is projected to increase in different regions during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
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 COVID-19 Impact Analysis
6.1 COVID-19 Impact Analysis on Automotive Market
6.2 COVID-19 Impact Analysis on Automotive Lightweight Material Market
6.2.1 Automotive Lightweight Material Scenario Analysis
6.2.1.1 Realistic Scenario
6.2.1.2 Low Impact Scenario
6.2.1.3 High Impact Scenario
7 Automotive Lightweight Material Market, by Material Type
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions/Limitations
7.1.3 Industry Insights
7.2 Metal
7.2.1 High Strength Steel (Hss)
7.2.2 Aluminum
7.2.3 Magnesium & Titanium
7.3 Composite
7.3.1 Carbon Fiber Reinforced Polymers (Cfrp)
7.3.2 Glass Fiber Reinforced Polymer (Gfrp)
7.3.3 Natural Fiber Reinforced Polymer (Nfrp)
7.3.4 Other Composites
7.4 Plastic
7.5 Elastomer
8 Automotive Lightweight Material Market, by Application
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions/Limitations
8.1.3 Industry Insights
8.2 Body in White
8.2.1 Europe is the Largest Market for Lightweight Material in Body in White Application
8.3 Chassis and Suspension
8.3.1 Europe is the Largest Market for Lightweight Material for Chassis and Suspension Application
8.4 Powertrains
8.4.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Powertrain Application
8.5 Closures
8.5.1 Asia Oceania is the Largest Market for Lightweight Material in Closures Application
8.6 Interiors
8.6.1 Asia Oceania is the Fastest Market for Lightweight Material in Interiors Application
8.7 Others
8.7.1 North America is the Fastest Growing Market for Lightweight Material for Other Applications
9 Automotive Lightweight Material Market, by Component
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Industry Insights
9.2 Frames
9.2.1 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
9.3 Wheels
9.3.1 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
9.4 Bumpers & Fenders
9.4.1 Asia Oceania and North America Are the Fastest-Growing Markets for Lightweight Material in Bumper & Fender
9.5 Engines & Exhausts
9.5.1 Europe is the Largest Market for Lightweight Material in Engine & Exhaust Due to the Extensive Efforts on Engine Downsizing
9.6 Transmission
9.6.1 Use of Lightweight Material for Transmission in the RoW Region is More Compared to Other Regions
9.7 Doors
9.7.1 Europe and Asia Oceania Are the Largest Markets for Lightweight Material in Doors
9.8 Hood & Trunk Lid
9.8.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Hood & Trunk Lid Due to Increase in Trend for Vehicle Weight Reduction
9.9 Seats
9.9.1 Asia Oceania is the Largest Market for Lightweight Material in Seats
9.10 Instrument Panel
9.10.1 Asia Oceania is the Largest Market for Lightweight Material in Instrument Panel
9.11 Fuel Tanks
9.11.1 Asia Oceania is the Largest Market for Lightweight Material in Fuel Tank
10 Automotive Lightweight Material Market, by Vehicle Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions/Limitations
10.1.3 Industry Insights
10.2 Passenger Cars
10.2.1 Europe is the Largest Market for Lightweight Material in Passenger Car
10.3 Light Commercial Vehicles (Lcv)
10.3.1 North America is the Fastest-Growing Market for Lightweight Material in Lcv
10.4 Heavy Commercial Vehicles (Hcv)
10.4.1 Asia Oceania is the Largest Market for Lightweight Material in Hcv
11 Automotive Lightweight Material Market, by Electric & Hybrid Vehicle Type
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions/Limitations
11.1.3 Industry Insights
11.2 Battery Electric Vehicle
11.2.1 North America is the Largest Market for Lightweight Material in Bev
11.3 Hybrid Electric Vehicle
11.3.1 North America is the Largest Market for Lightweight Material in Hev
11.4 Plug-In Hybrid Electric Vehicle
11.4.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Phev
11.5 Electric Truck
11.5.1 North America is the Largest Market for Lightweight Material in Electric Truck
11.6 Electric Bus
11.6.1 Asia Oceania is the Largest Market in Lightweight Material for Bus Due to the Higher Sale and Usage of Electric Bus in China
12 Electric Vehicle Lightweight Material Market, by Material Type
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Industry Insights
12.2 Metals
12.2.1 Bev is the Largest Lightweight Material Market for Metals
12.3 Composites
12.3.1 Bev is the Largest Lightweight Material Market for Composites
12.4 Plastics
12.4.1 Bev is the Largest Lightweight Material Market for Plastics
12.5 Elastomer
12.5.1 Bus is the Largest Lightweight Material Market for Elastomers
13 Automotive Lightweight Vehicle Market, by Region
13.1 Introduction
13.2 Asia Oceania
13.3 Europe
13.4 North America
13.5 Rest of the World (RoW)
14 Recommendations
14.1 Asia Oceania Will Be the Key Market for Lightweight Material Suppliers
14.2 Composites Can Be a Key Focus for Lightweight Material Suppliers
14.3 Conclusion
15 Adjacent Markets
15.1 Adjacent & Related Markets
15.1.1 Introduction
15.2 Limitations
15.3 Automotive Lightweight Material Ecosystem & Interconnected Markets
15.4 Body in White Market
15.4.1 Market Definition
15.4.2 Market Overview
15.4.3 Body in White Market, by Region
15.5 Composites Market
15.5.1 Market Definition
15.5.2 Market Overview
15.6 Composites Market, by Manufacturing Process and Region
15.7 Composites Market
15.8 Metal Casting Market
15.8.1 Market Definition
15.8.2 Market Overview
15.8.3 Metal Casting Market
15.9 Metal Forming Market
15.9.1 Market Definition
15.9.2 Market Overview
15.9.3 Metal Forming Market
16 Competitive Landscape
16.1 Overview
16.2 Competitive Leadership Mapping
16.2.1 Visionary Leaders
16.2.2 Innovators
16.2.3 Dynamic Differentiators
16.2.4 Emerging Companies
16.3 Competitive Leadership Mapping Matrix - Lightweight Material Suppliers
16.4 Company-Wise Product Offering Analysis - Lightweight Material Suppliers
16.5 Company-Wise Business Strategy Analysis - Lightweight Material Suppliers
16.6 Competitive Leadership Mapping - Lightweight Component Manufacturers
16.7 Company-Wise Product Offering Analysis - Lightweight Component Manufacturers
16.8 Company-Wise Business Strategy Analysis - Lightweight Component Manufacturers
16.9 Market Share Analysis
16.10 Competitive Scenario
16.10.1 New Product Developments
16.10.2 Expansions
16.10.3 Mergers & Acquisitions
16.10.4 Partnerships/Agreements/Supply Contracts/ Collaborations/Joint Ventures
17 Company Profiles
17.1 BASF SE
17.2 Covestro AG
17.3 Lyondellbasell Industries Holdings B.V.
17.4 Toray Industries, Inc.
17.5 Arcelormittal
17.6 Thyssenkrupp AG
17.7 Novelis, Inc.
17.8 Alcoa Corporation
17.9 Owens Corning
17.10 Stratasys Ltd.
17.11 Additional Companies
17.11.1 Asia Oceania
17.11.1.1 Tata Steel
17.11.1.2 Posco
17.11.2 Europe
17.11.2.1 Sgl Carbon
17.11.2.2 Lanxess
17.11.2.3 Borealis AG
17.11.3 North America
17.11.3.1 Dowdupont
17.11.3.2 Ak Steel Corporation
17.11.3.3 U.S. Magnesium LLC
17.11.3.4 Aleris Corporation
17.11.4 RoW
17.11.4.1 WHB Brasil
18 Appendix
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