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Automotive Lightweight Material Market worth $99.3 Billion by 2025 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

29 Jun, 2020, 11:00 GMT

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CHICAGO, June 29, 2020 /PRNewswire/ -- According to the new market research report "Automotive Lightweight Material Market by Material (Metal, Composite, Plastic, Elastomer), Application & Component (Frame, Engine, Exhaust, Transmission, Closure, Interior), Vehicle Type (ICE, Electric & Hybrid), Region - Global Forecast to 2025", published by MarketsandMarkets™, post COVID-19 is estimated to grow from USD 69.7 billion in 2020 to USD 99.3 billion by 2025, at a CAGR of 7.3% during the forecast period. The increasing demand for lightweight materials is driven by the rising usage of electric vehicles and stringent emission norms. Several OEMs have set individual targets for CO2 reductions in the coming years.

Browse in-depth TOC on "Automotive Lightweight Material Market"
304 – Tables
51 – Figures
274 – Pages

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 23937731  

"Metals to be the largest segment, By Material Type"

Metals is estimated to be the largest segment in the Automotive Lightweight Material Market. Aluminum has the highest demand among metals, followed by HSS. The use of lightweight materials such as aluminum and HSS is higher in developed regions such as Europe and North America compared to developing regions such as Asia Oceania and RoW. Initially, the normal heavy steels would be replaced with light metals such as HSS that are available in abundance. Also, the usage of lightweight materials is high in plug-in hybrid and electric vehicles. Many OEMs plan to use lightweight materials in their upcoming models. Hence, the use of lightweight materials is expected to increase in all automotive components.

"Powertrain to be the fastest growing market for Automotive Lightweight Material Market, by Application"

Powertrain is expected to be the fastest growing market, by application, during the forecast period. Powertrain accounts for more than 27% of the vehicle weight and hence has a huge potential for application of lightweight material. Therefore, the use of lightweight material has increased in the powertrain in recent years. For instance, the engine blocks were conventionally made of heavy steel and cast iron. However, with the light-weighting trend, aluminum housings have now replaced conventional materials. Also, cylinder block and head, which was made of cast iron, is now made of lightweight aluminum.

Request FREE Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id= 23937731  

"Europe is estimated to be the largest market for automotive lightweight material"

The European automotive industry has been using lightweight materials for manufacturing vehicles since a long time. Europe is the manufacturing hub for leading premium car manufacturers such as Mercedes, Audi, BMW, Porsche, Alfa Romeo, Ferrari, Aston Martin, Bentley, and Jaguar. As a result, Europe has also become the hub for vehicle lightweighting. Member nations of the European Union are now following Euro 6 norms, which will have the knock-on effect of reducing pollutants such as nitrogen oxide and carbon monoxide, improve the fuel economy, and lower the CO2 emission levels. The standards for passenger car and commercial vehicle for 2020 are 95g/km and 147g/km of CO2, respectively. The lightweight material manufacturers and suppliers are investing heavily in R&D to create new and advanced lightweight materials. This has also helped in optimizing engine performance and efficiency through weight reduction. These efforts of automotive manufacturers are expected to drive market growth in the European region.

The Automotive Lightweight Material Market is dominated by global players and comprises several regional players. The key players in the Automotive Lightweight Material Market are BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan), ArcelorMittal (Luxembourg), thyssenkrupp AG (Germany), Novelis, Inc. (US), Alcoa Corporation (US).

Browse Related Reports:

Automotive Acoustic Materials Market by Type (ABS, Fiberglass, PP, PU, PVC & Textile), Component (Arch Liner, Dash, Fender & Floor Insulator, Door, Head & Bonnet Liner, Engine Cover, Trunk Trim, Parcel Tray), ICE & EV, and Region - Forecast to 2027

Metal Forming Market for Automotive by Technique (Roll, Stretch, Stamping, Deep Drawing, Hydroforming), Type (Hot and Cold), Application (BIW, Chassis, Closure), Material (Steel, Aluminum), Vehicle (ICE, Electric, and Hybrid) - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-lightweight-materials-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-lightweight-materials.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

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