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Global Automotive Lightweight Material Market – Industry Trends and Forecast to 2029

  • Automotive
  • Upcoming Report
  • Nov 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Automotive Lightweight Material Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - 7.7% Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 68.10 Billion
Diagram Market Size (Forecast Year) USD 123.27 Billion
Diagram CAGR 7.7%

Global Automotive Lightweight Material Market, By Material (Metal, Composite, Plastic, Elastomer), Application (Body in White, Chassis and Suspension, Powertrain, Closures, Interiors, Others), Component (Frame, Wheel, Bumper & Fender, Engine & Exhaust, Transmission, Doors, Hood & Trunk Lid, Seats, Instrument Panel, Fuel Tank), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), Electric and Hybrid Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Electric Truck, Electric Bus), Material Type (Metal, Composite, Plastic, Elastomers) – Industry Trends and Forecast to 2029.

Automotive Lightweight Material Market

Automotive Lightweight Material Market Analysis and Size

Automotive lightweight materials play an important role in improving vehicle fuel economy. These materials also improve vehicle safety and overall performance. A vehicle's fuel efficiency improves as its weight decreases, because it takes less energy to accelerate a lighter object than a heavier one. The use of automotive lightweight materials can improve a vehicle's fuel economy by 6% to 8% with a 10% weight reduction.

Data Bridge Market Research analyses that the automotive lightweight material market was valued at USD 68.1 billion in 2021 and is expected to reach the value of USD 123.27 billion by 2029, at a CAGR of 7.70%% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Automotive Lightweight Material Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Material (Metal, Composite, Plastic, Elastomer), Application (Body in White, Chassis and Suspension, Powertrain, Closures, Interiors, Others), Component (Frame, Wheel, Bumper & Fender, Engine & Exhaust, Transmission, Doors, Hood & Trunk Lid, Seats, Instrument Panel, Fuel Tank), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), Electric and Hybrid Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Electric Truck, Electric Bus), Material Type (Metal, Composite, Plastic, Elastomers),

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

KIRCHHOFF Automotive (Germany) , Magna International Inc. (France),, Gestamp (Spain), TOYOTA BOSHOKU CORPORATION (Japan), AISIN CORPORATION (Japan), Trinseo (U.S.), GEDIA Automotive Group (U.S.), G-TEKT CORPORATION (Japan), Martinrea International Inc. (Canada), Autokiniton (U.S.), BENTELER (Germany), Meleghy Automotive GmbH & Co. KG (Germany), Shiloh Industries (U.S.), Unipres Corporation (Japan), ACMA India (India), Pillar Innovations (U.S.), NVH KOREA INC. (South Korea), SMR Deutschland GmbH (Germany), HUTCHINSON (France)

Market Opportunities

  • Investment in R&D activities has increased sales across the industry
  • Rising fuel prices are increasing demand for lighter vehicles.

Market Definition

Automotive lightweight materials are primarily used to replace cast iron and traditional steel components in various vehicle types such as electric, plug-in, and hybrid electric vehicles. They are used in structural elements that allow vehicles to be equipped with advanced safety devices, integrated electronic systems, and emission control systems. The use of lightweight materials in automobiles reduces the weight of their power systems, such as electric motors and batteries, while increasing efficiency and all-electric range. High-strength steel, aluminium alloys, polymer composites, carbon fibre, magnesium alloys, and other lightweight materials are commonly used in the automotive industry.

Drivers

  • Competitive edge on increasing fuel efficiencies

With rapid environmental degradation, automotive companies all over the world are developing lighter and more functional materials to improve vehicle fuel efficiency. The use of lightweight materials allows manufacturers to improve vehicle efficiency, as a reduction in a car's weight leads to a significant improvement in fuel economy. As a result, rising fuel prices are increasing demand for lighter vehicles.

  • Vehicle emission regulations

Government mandated emission control is a major factor driving the adoption of lightweight vehicles. Emission criteria differ from one region to the next. These are based on vehicle size in the United States and Canada, and thus require the incorporation of aluminium in the vehicle body. In the rest of the world, these criteria are based on vehicle weight, which necessitates the use of high-strength steel. Toyota, General Motors, Volkswagen Group, Fiat Chrysler Automobiles, Bavarian Motor Works, Renault, and Tata Motors are among the major automakers whose upcoming electric vehicles are expected to boost demand for lightweight materials during the forecast period.

Opportunities

  • Research and developments activities

Investment in R&D activities has increased sales across the industry as several major players seek to reduce the cost of these materials while increasing their recyclability.

Restraints

  • High cost will challenge the market

The cost of lightweight materials is prohibitively expensive. Carbon fibre reinforced plastics (CFRP) and glass fibre reinforced plastics (GFRP) are two examples of lightweight materials that are more expensive than traditional materials like steel and aluminium.

This automotive lightweight material market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive lightweight material market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Automotive Lightweight Material Market

The coronavirus pandemic has brought the world to a halt. Due to decreased production and demand, business activities have experienced a downturn in the form of dwindling sales. The same is true for the market for automotive lightweight materials. Automotive lightweight materials are commonly used in automotive applications. As a result of disrupted supply chains, the ongoing pandemic has resulted in a decline in all industrial activities. Extended lockdowns in various countries have hampered the production of automotive lightweight materials in recent months, as key manufacturing units and factories have been closed. Even after the lockdowns are lifted, it will take at least a few quarters to restore normal production. As a result, declining demand from allied industries in the second quarter of 2020 will have a long-term impact on the global automotive lightweight material market's growth.

Global Automotive Lightweight Material Market Scope

The automotive lightweight material market is segmented on the basis of material, application, component, vehicle type, electric and hybrid vehicle type and material type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

  • Metal
  • Composite
  • Plastic
  • Elastomer

Application

  • Body in White
  • Chassis and Suspension
  • Powertrain
  • Closures
  • Interiors
  • Others

Component

  • Frame
  • Wheel
  • Bumper & Fender
  • Engine & Exhaust
  • Transmission
  • Doors
  • Hood & Trunk Lid
  • Seats
  • Instrument Panel
  • Fuel Tank

Vehicle type

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Electric and Hybrid Vehicle type

  • Battery Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-In Hybrid Electric Vehicle
  • Electric Truck
  • Electric Bus

Automotive Lightweight Material Market Regional Analysis/Insights

The automotive lightweight material market is analysed and market size insights and trends are provided by country of material, application, component, vehicle type, electric and hybrid vehicle type as referenced above.

The countries covered in the automotive lightweight material market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific consumes a large portion of the global automotive lightweight materials market. Because of the growth of the automotive industry in these countries, the automotive lightweight materials market in Japan and China is expected to expand at a rapid pace during the forecast period.

China is Asia Pacific's largest consumer of automotive lightweight materials. Emerging markets for automotive lightweight materials include the Middle East and Africa, as well as Latin America. The Middle East and Africa, as well as Latin America, have high demand for lightweight vehicles.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Automotive Lightweight Material Market Share Analysis

The automotive lightweight material market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive lightweight material market.

Some of the major players operating in the automotive lightweight material market are:

  • KIRCHHOFF Automotive (Germany)
  • Magna International Inc. (France)
  • Gestamp (Spain)
  • TOYOTA BOSHOKU CORPORATION (Japan)
  • AISIN CORPORATION (Japan)
  • Trinseo (U.S.)
  • GEDIA Automotive Group (U.S.)
  • G-TEKT CORPORATION (Japan)
  • Martinrea International Inc. (Canada)
  • Autokiniton (U.S.)
  • BENTELER (Germany)
  • Meleghy Automotive GmbH & Co. KG (Germany)
  • Shiloh Industries (U.S.)
  • Unipres Corporation (Japan)
  • ACMA India (India)
  • Pillar Innovations (U.S.)
  • NVH KOREA INC. (South Korea)
  • SMR Deutschland GmbH (Germany)
  • HUTCHINSON (France)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The current market value is USD 68.1 billion in 2021.
The market is expected to grow at a rate of market is 7.70% during the forecast period of 2022 to 2029.
The Automotive Lightweight Material Market report covers the segments Material, Application, Component, Vehicle Type, Electric and Hybrid Vehicle Type, and Material Type
Asia-Pacific consumes a large portion of the global automotive lightweight materials market. Because of the growth of the automotive industry in these countries, the automotive lightweight materials market in Japan and China is expected to expand at a rapid pace during the forecast period.
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