GMI

Automotive Metal Market: An Insight Of The Aggressively Changing Industry Dynamics

Press Release   •   Jan 11, 2018 06:03 EST

Automotive Metal Market: Stringent government regulations for reducing vehicle emission has led to OEMs demanding light weight materials for their vehicle production. Demand of light weight steel, aluminum & magnesium and technological advancements focused towards increasing material strength will support the industry growth.

Surge in passenger vehicle demand backed by increasing disposable income in developing economies primarily drive the demand for raw material used in automotive industry. Increasing vehicle demand has led increasing vehicle production which drives the demand for automotive metal market. Significant use of metals in auto components such as chassis, engine, roof, panels, wheels, brake, radiator will increase automotive metal market share during forecast period.

Stringent government regulations for reducing vehicle emission has led to OEMs demanding light weight materials for their vehicle production. Demand of light weight steel, aluminum & magnesium and technological advancements focused towards increasing material strength will support the industry growth.

Make an Inquiry before buying @ https://www.gminsights.com/inquiry-before-buying/2320

However, highly priced products and stringent government regulation on low carbon emission, reduce body weight, with fuel efficiency will hinder industry growth. Also, use high grade carbon & plastic material can replace metals in vehicle. Currently plastic accounts for 15 % vehicle body weight. Increasing use of carbon fiber and plastic in vehicle part will restrict the industry growth during forecast period.

Manufacturers and raw material suppliers possess growth opportunity owing to increasing market for electric vehicles and integration of new systems for safety & comfort. High demand of electric vehicles will increase material requirement during forecast period.

On the basis of product, automotive metal market is categorized in to steel, aluminum, magnesium. High usage of steel in automotive manufacturing owing to superior strength will drive the demand for steel during forecast period. According to World Steel Association, overall body weight of passenger car contains of 55-65 % steel weight and average light truck or SUV contains 3000 pounds of metal. Increasing usage of magnesium alloys in vehicle interior parts will support the revenue generation from this segment.

Aluminum will exhibit significant growth rate owing to its lightweight and high recyclability. manufacturers focusing on overall vehicle weight reduction are increasing using aluminum over other metals will drive the demand.

Browse complete summary of this report @ https://www.gminsights.com/industry-analysis/automotive-metal-market

Asia Pacific dominates overall automotive metal market owing to largest automobile production industry leading to high raw material demand. Countries contributing to the regional growth are China & India with highest demand and high growth rate. High passenger vehicle demand will increase raw material consumption during the forecast period.

North America is expected to witness significant growth during the forecast timeframe owing to presence of several vehicle manufacturers in the region. Relaxation in regulations regarding standards for reducing greenhouse emissions and vehicle fuel efficiency goals by Trump government will support the industry growth. Moreover, government reviewing other standards related to vehicle emission and border adjustment tax is also expected to affect the industry growth in the region.

Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/2320

Major manufacturing companies are Tata steels, Hyundai steel, Essar steel, Thyssenkrupp AG, Novalis, Posco, Voestalpine Group, Nippon steel & Sumitomo Metal corporation, United steel corporation, ArcellorMittal, UACJ Corporation, Kobe Steel, AMG Advanced Metallurgical Group, Constellium NV,Massey Ferguson Ltd. and Norsk Hydro among others. The companies focus on new product development to increase strength to weight ratio of metal. For instance, in November 2016, ArcellorMittal launched new generation of advanced high strength steels for automotive applications.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology

Contact Us

Arun Hegd

Corporate Sales, USA

Global Market Insights, Inc.

Phone: 1-302-846-7766

Toll Free: 1 888-689-0688

Email: sales@gminsights.com

Web: https://www.gminsights.com

Connect with us twitter | LinkedIn | Facebook | Google+

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.