The global Automotive Lightweight Material market was valued at 9857.86 Million USD in 2021 and will grow with a CAGR of 7.78% from 2021 to 2027, based on HNY Research newly published report.

The prime objective of this report is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

Metals is largest segment, by volume as well as by value, in the automotive lightweight material market. The segment is leading due to the high use of metals in any automobile, followed by plastics and rubber. The high strength steel materials segment lead the market with respect to volume, however, owing to the higher price, the aluminum sub segment has the highest value. Alternatively, the prices of composite materials are 5-10 times higher than conventional steels. A study conducted by EDAG Engineering GmbH with U.S. National Highway Traffic Safety Administration (NHTSA) suggests that using aluminum to make a car can reduce the vehicle weight up to 35% at an additional cost of USD 927 per vehicle, whereas using CFRP to build a car could reduce the vehicle`s weight by half, at an additional cost of USD 2,700. Hence, the use of composite materials in automotive industry is presently limited majorly to the premium passenger cars, owing to the high price of these materials.More than 30% of the vehicle`s weight is concentrated in the chassis and suspension and hence has a huge potential for lightweighting. The segment is projected to grow at the fastest growth rate over the next five years. Based on a publication by the U.S. DOE, has mandated a ~35% weight reduction in the chassis and suspension segment by 2025, with a further reduction in weight of ~55% by 2050. The lightweight materials used in the chassis and suspension are HSS and aluminum. The Body-in-White and Interiors segments are the second and third fastest growing in the lightweight materials market respectively.

By Market Verdors:

BASF (Germany)

ThyssenKrupp (Germany)

Covestro (Germany)

ArcelorMittal (Luxembourg)

Lyondellbasell (US)

Novelis (US)

Toray Industries (Japan)

PPG Industries (US)

Alcoa (US)

Owens Corning (US)

By Types:

Metal

Composite

Rubber

Plastic

By Applications:

ICE

EV

Key Indicators Analysed

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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