The automotive lightweight material market is projected to grow at a CAGR 4.18% rate from 2021 to 2026 due to increasing stringency of vehicle emission and fuel economy regulations.
BEV is expected to be the largest segment. BEV is powered by an electric battery that uses chemical energy stored in the battery. The battery used in a BEV is rechargeable and accounts for about 70% weight of the electric vehicle. OEMs are investing heavily in research and development to increase the efficiency of electric vehicles by reducing the overall vehicle weight.
The market for metals is estimated to be the largest. There are three kinds of metal materials extensively used in vehicle light weighting. These are High strength steel, aluminium, and Magnesium & Titanium. These materials are lighter and stronger than steel.
HCV is projected to be the fastest growing segment. HCVs comprise vehicles such as buses, coaches, and heavy trucks with a vehicle mass of above 7 tons. OEMs such as BMW, Daimler, Dongfeng, Fiat, and Isuzu are rigorously focusing on weight reduction in HCVs due to stringent emission and fuel economy. The use of lightweight material helps reduce the total vehicle weight, which in turn allows the vehicle to carry additional load. Hence, HCV is projected to be the fastest growing segment of the automotive lightweight material market.
Europe is projected to hold the largest market share. The implementation of Euro 6 norms will reduce pollutants such as nitrogen oxide and carbon monoxide. It will also compel OEMs to improve fuel economy and lower CO2 emission levels. Also, lightweight materials manufacturers and suppliers are investing heavily in R&D to create new and advanced lightweight materials which will increase the demand for vehicles.
Key market players include BASF SE (Germany), Covestro AG (Germany), Lyondell Basell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan), ArcelorMittal (Luxembourg), Thyssenkrupp AG (Germany), Novelis, Inc. (US), and Alcoa Corporation (US).
Key Questions addressed by the report
- Which application will lead the automotive lightweight material market in the future?
- How will government regulations impact the automotive lightweight material market globally?
- How would the growing trend of electric vehicles impact the automotive lightweight material market over the next 8 years?
- What would be the share of different materials in the automotive lightweight material market?
1. Introduction
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Executive Summary
4. Market Dynamics
4.1. Drivers
4.1.1.Stringent Emission and Fuel Economy Regulations
4.1.2.Growing Government Initiatives for Weight Reduction
4.2. Opportunities
4.2.1.Upward Trend of Vehicle Electrification
4.2.2.Future Potential Market in Asia Oceania
4.3. Challenges
4.3.1.Maintenance of Lightweight Material
5. Automotive Lightweight Material Market, By Material Type
5.1. Metal
5.2. Composite
5.3. Plastic
5.4. Elastomer
6. Automotive Lightweight Material Market, By Application
6.1. Body in White
6.2. Chassis and Suspension
6.3. Powertrain
6.4. Closures
6.5. Interiors
6.6. Others
7. Automotive Lightweight Material Market, By Component
7.1. Frame
7.2. Wheel
7.3. Bumper & Fender
7.4. Engine & Exhaust
7.5. Transmission
7.6. Doors
7.7. Hood & Trunk Lid
7.8. Seats
7.9. Instrument Panel
7.10. Fuel Tank
8. Automotive Lightweight Material Market, By Vehicle Type
8.1. Passenger Car
8.2. Light Commercial Vehicle
8.3. Heavy Commercial Vehicle
9. Automotive Lightweight Material Market, By Electric and Hybrid Vehicle Type
9.1. Battery Electric Vehicle
9.2. Hybrid Electric Vehicle
9.3. Plug-In Hybrid Electric Vehicle
9.4. Electric Truck
9.5. Electric Bus
10. Electric Vehicle Lightweight Material Market, By Material Type
10.1. Metal
10.2. Composite
10.3. Plastic
10.4. Elastomer
11. Automotive Lighting Market, By Region
11.1. Asia Pacific
11.1.1. China
11.1.2. Japan
11.1.3. South Korea
11.1.4. Thailand
11.1.5. India
11.2. Europe
11.2.1. France
11.2.2. Germany
11.2.3. Italy
11.2.4. Russia
11.2.5. Spain
11.2.6. UK
11.3. North America
11.3.1. US
11.3.2. Canada
11.3.3. Mexico
11.4. Rest of the World (RoW)
11.4.1. Brazil
11.4.2. South Africa
12. Company Profiles
12.1. Hella KgaaHueck& Co.
12.2. Valeo S.A.
12.3. Osram GmbH
12.4. Continental AG
12.5. Hyundai Mobis
12.6. Ichikoh Industries, Ltd.
12.7. Magneti Marelli
12.8. Koito Manufacturing Co., Ltd.
12.9. Stanley Electric Co., Ltd.
12.10. Koninklijke Philips N.V.
12.11. Robert Bosch GmbH
12.12. ZizalaLichtsysteme GmbH
12.13. Nxp Semiconductors
12.14. Aptiv Plc
12.15. Grupo Antolin
*Company introduction, financial information, recent developments, SWOT analysis
13. Conclusion and Recommendations
14. Appendix
14.1. About
14.2. Related Reports
14.3. Glossary
