Global Automotive Lightweight Material Market Report, History and Forecast 2016-2027, Breakdown Data by Manufacturers, Key Regions, Types and Application

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.

Market Analysis and Insights: Global Automotive Lightweight Material Market
In 2020, the global Automotive Lightweight Material market size was US$ 109900 million and it is expected to reach US$ 193320 million by the end of 2027, with a CAGR of 7.9% between 2021 and 2027
Global Automotive Lightweight Material Scope and Market Size
The global Automotive Lightweight Material market is segmented by region (country), company, by Type, and by Application. Players, stakeholders, and other participants in the global Automotive Lightweight Material market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type, and by Application for the period 2016-2027.

Segment by Type
Metal
Composite
Rubber
Plastic

Segment by Application
ICE
EV

By Company
BASF (Germany)
ThyssenKrupp (Germany)
Covestro (Germany)
ArcelorMittal (Luxembourg)
Lyondellbasell (US)
Novelis (US)
Toray Industries (Japan)
PPG Industries (US)
Alcoa (US)
Owens Corning (US)

By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Colombia
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE