The lightweight materials are widely utilized in automobiles for reducing their weight and thereby increase their fuel efficiency and speed. These materials are the best suitable alternatives for heavy generic materials for building the frame of vehicles owing to their advantages such as low corrosion rate, enhanced strength, less material consumption, and improved handling. Replacement of traditional steel components with lightweight materials such as aluminum and magnesium alloys, high-strength steel (HSS), and polymer & carbon fiber composites are capable of reducing the vehicle weight and thereby support in decreasing fuel consumption.
Further, the rising demand for these materials from developing countries and the trend of vehicle electrification are anticipated to offer significant growth opportunities for the automotive lightweight material market in the near future.
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The key players influencing the market are:
Alcoa Corporation, BASF SE, Covestro AG, E. I. du Pont de Nemours and Company (DuPont), Grupo Antolin, Lear Corporation, Lyondellbasell Industries Holdings B.V., Magna International Inc., Novelis Inc., Thyssenkrupp AG
The global automotive lightweight material market is segmented on the basis of material, application, and vehicle type. Based on material, the market is segmented as metals, composites, plastics, and elastomer. Based on application, the automotive lightweight material market is divided into exterior, powertrain, structural, interiors, and others. On basis of vehicle type, the market is bifurcated into passenger car and commercial vehicle.
The "Global Automotive Lightweight Material Market Analysis to 2027" is a specialized and in-depth study of the automotive lightweight material industry with a special focus on the global market trend analysis. The report aims to provide an overview of automotive lightweight material market with detailed market segmentation by material, application, vehicle type, and geography. The global automotive lightweight material market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive lightweight material market players and offers key trends and opportunities in the market.
It provides an overview and forecast of the global automotive lightweight material market based on various segments. it also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The automotive lightweight material market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from automotive lightweight material market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive lightweight material in the global market. Below mentioned is the list of few companies engaged in the automotive lightweight material market.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.