The global automotive lightweight material market is anticipated to witness significant CAGR during the forecast period, i.e., 2021-2029, on the back of increasing demand for passenger cars backed by a growing population and increasing disposable income. Moreover, rising public awareness towards energy conservation is estimated to boost the demand for lightweight material for manufacturing cars, as vehicles made from this material consume less fuel.
The global automotive lightweight material market is segmented by vehicle type into light-duty, heavy-duty, electric vehicles, and others, out of which, the electric vehicle segment is estimated to garner the largest share by the end of 2029. This growth can be attributed to the increasing manufacturing of electric cars backed by the investment from major market players in this segment. Based on material, the plastic segment is estimated to hold a significant CAGR during the forecast period owing to its varied application in the manufacturing of vehicle interiors.
Research Nester has released a report titled “Automotive Lightweight Material Market – Global Demand & Opportunity Outlook 2029” which delivers a detailed overview of the global automotive lightweight material market in terms of market segmentation by vehicle type, material, application, and region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
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Regionally, the global automotive lightweight material market regions is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Among these, the market in North America is projected to garner the largest share in the forecast period on the back of the increasing sales of electric cars, combined with increasing personal disposable income.
Developed economies, such as Canada and U.S.A are currently the major consumer of electric cars. The sale of electric vehicles (EV) in the U.S. crossed the mark of 240,000 vehicles in the year 2019. Moreover, strict government regulations regarding energy-efficient vehicles are estimated to promote market growth. Government initiatives, such as Corporate Average Fuel Economy (CAFE) standards by the National Highway Traffic Safety Administration (NHTSA) which regulate the manufacturing of light-duty vehicles, are further estimated to boost the market growth.
The market in the Asia Pacific is anticipated to attain the highest CAGR during the forecast period owing to the increasing demand for passenger cars, backed by a growing population and changing consumer lifestyle in countries, such as China and Japan. Japan is one of the major producers of cars, on the back of the presence of major vehicle manufacturing companies. In the year 2020, more than 6 million cars were manufactured in Japan.
Growing Manufacturing and Sale of Cars to Boost the Market Growth
The global sale of passenger cars amounted to almost 61 million in 2020. This is estimated to increase up to 70 million cars in 2021.
The changing urban lifestyle and increasing personal disposable income have raised the demand for passenger cars around the world. The growing manufacturing and sale of vehicles are, in turn, expected to boost the demand for lightweight materials amongst car manufacturers. Lightweight material enhances the fuel efficiency of the vehicle without compromising the performance of the engine, which is foreseen to significantly promote market growth.
The report also provides the existing competitive scenario of some of the key players of the global automotive lightweight material market, BASF SE (ETR: BAS), Convestro AG (ETR: 1COV), LyondellBasell Industries Holdings B.V. (NYSE: LYB), TORAY INDUSTRIES, INC. (TYO: 3402), ThyssenKrupp AG (ETR: TKA), Novelis Group (Hindalco Industries Limited), Alcoa Corporation (NYSE: AA), Trinseo LLC (NYSE: TSE), LANXESS AG (ETR: LXS) which includes company profiling and key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments.
On the whole, the report depicts a detailed overview of the global automotive lightweight material market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global Automotive Lightweight Material market during the historical period of 2013 – 2018.
The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2028, and key prospects over the forecast period 2019 – 2028.Request to View Sample of Report @ https://www.factmr.com/connectus/sample?flag=S_id=3423The Fact.MR study tracks the automotive lightweight material market for the period between 2019 and 2028.
The automotive lightweight material market is likely to expand at a promising volume CAGR of nearly 4.0% through 2028.
Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections of the Automotive Lightweight Material market, both at global and regional levels.
The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Automotive Lightweight Material market.After reading the Automotive Lightweight Material market report, readers get insight into:Major drivers and restraining factors, opportunities and challenges, and the competitive landscapeNew, promising avenues in key regionsNew revenue streams for all players in emerging marketsFocus and changing role of various regulatory agencies in bolstering new opportunities in various regionsDemand and uptake patterns in key industries of the Automotive Lightweight Material marketNew research and development projects in new technologies in key regional marketsChanging revenue share and size of key product segments during the forecast periodTechnologies and business models with disruptive potentialThe Automotive Lightweight Material market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period.
Key regions covered comprise:North AmericaLatin AmericaEuropeEast AsiaSouth Asia & OceaniaMiddle East & AfricaThe evaluation of the competitive landscape in the Automotive Lightweight Material market covers the profile of the following top players: Alerisw InternationalAsahi Kasei CorporationChevron PhillipsCovestroA Methodology of this Report is Available upon Request @ https://www.factmr.com/connectus/sample?flag=RM_id=3423To expand the understanding of opportunities in the global Automotive Lightweight Material market report looks at close quarters into the opportunities and new avenues in following key segments: Engine & MechanicalExterior & StructuralInteriorBody Structure & FrameIn addition to understanding the demand patterns of various end users, the report on the Automotive Lightweight Material market also enumerates trends expected to attract investments by other various associated industries.On the basis of Material types, the Automotive Lightweight Material market report offers insight into major adoption trends for the following segments:SteelMetalsPolymersCompositesThe global Automotive Lightweight Material market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period.
Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global Automotive Lightweight Material market during the historical period of 2014 – 2018.
The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2019, and key prospects over the forecast period 2019 – 2028.
The automotive lightweight material market is likely to expand at a promising volume CAGR of nearly 4.0% through 2028.
Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections of the AUTOMOTIVE LIGHTWEIGHT MATERIAL market, both at global and regional levels.
After reading the AUTOMOTIVE LIGHTWEIGHT MATERIAL market report, readers get insight into: Major drivers and restraining factors, opportunities and challenges, and the competitive landscapeNew, promising avenues in key regionsNew revenue streams for all players in emerging marketsFocus and changing role of various regulatory agencies in bolstering new opportunities in various regionsDemand and uptake patterns in key industries of the AUTOMOTIVE LIGHTWEIGHT MATERIAL marketNew research and development projects in new technologies in key regional marketsChanging revenue share and size of key product segments during the forecast periodTechnologies and business models with disruptive potential Request for Sample Report with Statistical Info @ https://www.factmr.com/connectus/sample?flag=S_id=3423 The AUTOMOTIVE LIGHTWEIGHT MATERIAL market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period.
Key regions covered comprise: North America (U.S., Canada)Latin America (Brazil, Mexico, Argentina, Rest of Latin America)Europe (Germany, Italy, France, U.K., Spain, Benelux, Russia, Rest of Europe)JapanAPEJ (China, India, Indonesia, Thailand, Singapore, Australia & New Zealand, Rest of Asia Pacific)MEA (GCC Countries, Turkey, Northern Africa, South Africa, Rest of Middle East & Africa)The evaluation of the competitive landscape in the AUTOMOTIVE LIGHTWEIGHT MATERIAL market covers the profile of the following top players:United States Steel Corporation, ThyssenKrupp AG, Formosa, Trinseo, LG Chem, JSR, Eastman, Alerisw International, Guirt Holding AG, SGL Carbon SE, Teijin Limited, Hunstman, ExxonMobil, Covestro, Mitsubishi, DowDupont, DSM, Solvay, SSAB AB, Ak Steel Holding Corp, Nucor Corp, Trinseo, Luxfer, Kaiser, Hindalco, Braskem, UFP Technologies, Owen Corning, Asahi Kasei Corporation, Ineos, Chevron Phillips, SABIC, Toray, Celanese, BASF, POSCO, Baoshan Iron & Steel Co., Ltd, and ArcelorMittal SA.To expand the understanding of opportunities in the global AUTOMOTIVE LIGHTWEIGHT MATERIAL market report looks at close quarters into the opportunities and new avenues in following key segments: SteelMetalsPolymersCompositesElastomers In addition to understanding the demand patterns of various material type, the report on the AUTOMOTIVE LIGHTWEIGHT MATERIAL market also enumerates trends expected to attract investments by other various associated industries.
