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 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
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
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),
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)
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.
- 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.
- 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.
- 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.
- Body in White
- Chassis and Suspension
- Bumper & Fender
- Engine & Exhaust
- Hood & Trunk Lid
- Instrument Panel
- Fuel Tank
- 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)