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Global Automotive Lightweight Material Market By Material Type (Metal, Plastic, Others), By Electric and Hybrid Vehicle (PHEV, HEV, Others), By Component, By Application, By End-Users, By Region, Forecast & Opportunities to 2026

The global automotive lightweight material market accounted for a value of USD 63.5 billion in 2019 and is projected to register growth at a CAGR of 6.5% during forecast period.

COVID-19 has impacted the automotive lightweight material market. The automotive industry is adversely affected due to this ongoing pandemic. The manufacturing of vehicles is on halt due to lockdown and supply chain got disrupted due to travel restriction. The sales of vehicle are immensely declined across the globe. The automotive lightweight material growth is directly dependent on vehicle production. The decline in vehicle production affected the growth of automotive lightweight material market.

Definition:

Lightweight materials are used in automotive industry for making cars and trucks lightweight. Lightweight materials help in achieve better fuel efficiency and reduce emission. Various parts of are made from this materials such as carbon fiber, windshields are made from plastics and bumpers from aluminium form etc.

Market Dynamics (Drivers/Opportunities):

The governments across various regions are implementing stringent regulations in order to reduce fuel emissions. This regulation helps in reducing emission and increasing fuel economy. The governments are also taking initiatives to reduce vehicle weight. The use of lightweight material helps in reducing vehicle weight along with reducing emission. This drives growth in automotive lightweight material market during forecast period.

The adoption of alternative powertrains is increasing in various regions. The production of electric vehicles is also increasing rapidly which results in higher demand for automotive lightweight material. The demand for lightweight vehicle is increasing around the world and this drives growth in automotive lightweight material market during forecast period.

The use of lightweight materials such as composites, plastics and lightweight metals helps in improving fuel economy of vehicle and it also ensure high performance and safety. The use of advanced lightweight materials also helps in reducing fuel consumption as less weight takes less energy during acceleration. This results in increase in consumptions of automotive lightweight material. This drives growth in automotive lightweight material market during forecast period.

Market Insights, by Material Type

On the basis of material type, the automotive lightweight material market is segmented into metals, composites, plastics and elastomer. The metals segment is estimated to hold largest market share during forecast period. There are three kinds of metal materials majorly used in vehicles are magnesium & titanium, aluminum and steel. Metals have high strength, lighter and stronger. Metals are expected to extensively used in electric vehicles and this increases the demand for metals material. This drives growth in metals segment during forecast period.

Market Insights, by Electric and Hybrid Vehicle

On the basis of electric and hybrid vehicle, the automotive lightweight material market is segmented into bus, truck, PHEV, HEV and BEV. The BEV segment is estimated to be largest market during forecast period. Battery electric vehicle (BEV) is powered by an electric battery which uses chemical energy stored in the battery. In BEV, batteries are rechargeable and hold about 70% of weight of the electric vehicle. The investment in this segment is increasing in research and development by OEMs in order to increase the efficiency of electric vehicles by reducing the vehicle weight.

Market Insights, by End-Users

On the basis of end-users, the automotive lightweight material market is segmented into passenger vehicle, light commercial vehicle and heavy commercial vehicle. The HCV segment is estimated to be the fastest growing segment during forecast period. This segment comprises of vehicles such as coaches, buses and heavy trucks. It consists of vehicles with a vehicle mass above 7 tons. The major OEMs are focusing on reducing weight of vehicles due to stringent fuel economy and emission regulations. The lightweight material helps in reducing vehicle weight which helps in vehicle to carry extra load. This increases use of lightweight materials in HCV segment and this drives growth in HCV segment during forecast period.

Regional Insights

Europe region is estimated to hold largest market share during forecast period. The government is implementing various stringent norms to reduce emission and to improve fuel economy. The Euro 6 norms is implemented which helps in reducing effects of pollutants such as carbon monoxide and nitrogen oxide and this norms compel manufacturers to improve fuel economy. The investment in R&D sector is increasing heavily in this region to introduce new and advanced lightweight materials. The demand for lightweight material is increasing in this region and drives growth in Europe region during forecast period.

Key Companies & Market Share Insights

The key market players in automotive lightweight material industry are BASF SE, Covestro AG, Lyondellbasell Industries Holdings B.V., Toray Industries, Arcelormittal, Thyssenkrupp AG, Novelis Inc., Alcoa Corporation, Owens Corning, Stratasys Ltd., Tata Steel, Posco, SGL Carbon, Lanxess, Borealis AG and Asia Oceania.

Segments Covered in the Report

This report forecasts The Global Automotive Lightweight Material Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global automotive lightweight material market report on the basis of material type, electric and hybrid vehicle, component, application and end-users.

Automotive Lightweight Material Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Automotive Lightweight Material Market, By Material Type , Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Metals
  • Composites
  • Plastics
  • Elastomer
  1. Automotive Lightweight Material Market, By Electric and Hybrid Vehicle, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Bus
  • Truck
  • PHEV
  • HEV
  • BEV
  1. Automotive Lightweight Material Market, By Component, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Wheels
  • Frames
  • Doors
  • Seats
  • Bumpers & Fenders
  • Engine & Exhausts
  • Fuel Tanks
  • Transmissions
  • Hood & Trunk Lid
  • Instrument Panels
  1. Automotive Lightweight Material Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Interiors
  • Body in White
  • Powertrain
  • Closures
  • Chassis & Suspension
  • Interiors
  • Others
  1. Automotive Lightweight Material Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  1. Automotive Lightweight Material Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Material Type
    • By Electric and Hybrid Vehicle
    • By Component
    • By Application
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Material Type
      • By Electric and Hybrid Vehicle
      • By Component
      • By Application
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Material Type
        • By Electric and Hybrid Vehicle
        • By Component
        • By Application
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Material Type
          • By Electric and Hybrid Vehicle
          • By Component
          • By Application
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Material Type
            • By Electric and Hybrid Vehicle
            • By Component
            • By Application
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Asia Oceania
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • BASF SE
    • Covestro AG
    • Lyondellbasell Industries Holdings B.V.
    • Toray Industries
    • Arcelormittal
    • Thyssenkrupp AG
    • Novelis Inc.
    • Alcoa Corporation
    • Owens Corning
    • Stratasys Ltd.
    • Tata Steel
    • Posco
    • SGL Carbon
    • Lanxess
    • Borealis AG
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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