DUBLIN, July 23, 2020 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.

The global automotive lightweight material market 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%.

Factors contributing to the growth of automotive lightweight material can be attributed to stringent emission and fuel economy regulations. Moreover, advancement in automotive and technology enabling reduced material usage will increase the demand for automotive lightweight material in the coming years.

With progression in time, the COVID-19 impact has severely disrupted the supply chain for the entire automotive ecosystem. This has halted production facilities across the globe resulting in a disruption in the exports of the automotive components. This scenario is expected to affect automotive lightweight material market, as the growth of the market is directly related to the production of the vehicles. The global production of vehicle pre-COVID-19 was expected to reach from ~90-95 million units in 2020 to ~110-115 million units by 2025. According to OICA, though global vehicle production declined by 5.2% between 2018-2019, the production outlook was supposed to showcase significant growth from 2021-2022 owing to multiple steps taken by OEMs, as well as some government, to attract customers.

Stringent emission and fuel economy regulations will drive the automotive lightweight material market

The automotive lightweight material market 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 & fuel economy regulations. Several OEMs have set targets for CO2 reduction in the coming years.

Instrument panel is the fastest growing market, by component

The instrument panel is projected to be the fastest-growing segment in the automotive lightweight material market. With the increasing demand for lighter interior cabins from car buyers, OEMs plan to use lightweight materials in interior applications. Hence, OEMs are jointly working with component manufacturers and material providers to develop improved and lighter components. As the interior cabin contributes significantly to the overall vehicle weight, the use of lightweight materials in the cabin can help in vehicle weight reduction. Hence, the instrument panel is projected to be the fastest-growing market for automotive lightweight material.

North America is estimated to be the fastest-growing market for automotive lightweight materials, followed by Asia Oceania

North America is expected to be the fastest-growing market for automotive lightweight materials. The Corporate Average Fuel Economy (CAF) standards have compelled OEMs to enhance their vehicle lightweighting efforts. The domestic demand for passenger cars has increased due to low gas prices and low-interest rates. The demand for light trucks and vans has also witnessed rapid growth in the region. Asia Oceania, on the other hand, has seen increased usage of HSS and Aluminum, especially in the low and mid-segment vehicles. China is the fastest-growing market for automotive lightweight materials in the Asia Oceania region. Factors such as low production cost, abundant availability of metals, and safety norms have driven market growth in the region. The sale of automotive lightweight materials is projected to increase in different regions during the forecast period.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Stringent Emission and Fuel Economy Regulations5.2.1.2 Growing Government Initiatives for Weight Reduction5.2.2 Restraints5.2.2.1 High Cost (Material Cost and Process Cost)5.2.2.1.1 High Material Cost5.2.2.1.2 High Process Cost5.2.2.1.3 Price Sensitive Nature of Developing Regions5.2.2.2 Opportunities5.2.2.2.1 Upward Trend of Vehicle Electrification5.2.2.2.2 Future Potential Market in Asia Oceania5.2.2.3 Challenges5.2.2.3.1 Maintenance of Lightweight Material5.3 Industry Trends and Targets5.3.1 Light Duty Vehicles Impact the Lightweight Material Industry5.3.2 Technological Routes for the Application of Lightweight Materials: US

6 COVID-19 Impact Analysis6.1 COVID-19 Impact Analysis on Automotive Market6.2 COVID-19 Impact Analysis on Automotive Lightweight Material Market6.2.1 Automotive Lightweight Material Scenario Analysis6.2.1.1 Realistic Scenario6.2.1.2 Low Impact Scenario6.2.1.3 High Impact Scenario

7 Automotive Lightweight Material Market, by Material Type7.1 Introduction7.1.1 Research Methodology7.1.2 Assumptions/Limitations7.1.3 Industry Insights7.2 Metal7.2.1 High Strength Steel (Hss)7.2.2 Aluminum7.2.3 Magnesium & Titanium7.3 Composite7.3.1 Carbon Fiber Reinforced Polymers (Cfrp)7.3.2 Glass Fiber Reinforced Polymer (Gfrp)7.3.3 Natural Fiber Reinforced Polymer (Nfrp)7.3.4 Other Composites7.4 Plastic7.5 Elastomer

8 Automotive Lightweight Material Market, by Application8.1 Introduction8.1.1 Research Methodology8.1.2 Assumptions/Limitations8.1.3 Industry Insights8.2 Body in White8.2.1 Europe is the Largest Market for Lightweight Material in Body in White Application8.3 Chassis and Suspension8.3.1 Europe is the Largest Market for Lightweight Material for Chassis and Suspension Application8.4 Powertrains8.4.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Powertrain Application8.5 Closures8.5.1 Asia Oceania is the Largest Market for Lightweight Material in Closures Application8.6 Interiors8.6.1 Asia Oceania is the Fastest Market for Lightweight Material in Interiors Application8.7 Others8.7.1 North America is the Fastest Growing Market for Lightweight Material for Other Applications

9 Automotive Lightweight Material Market, by Component9.1 Introduction9.1.1 Research Methodology9.1.2 Industry Insights9.2 Frames9.2.1 North America is the Fastest-Growing Market for Lightweight Material in Frames as the Current Average Curb Weight of Vehicles is Higher in this Region9.3 Wheels9.3.1 Europe is the Largest Market for Lightweight Material in Wheels as the Use of Lightweight Materials is on Higher Side in Europe Compare to Other Regions9.4 Bumpers & Fenders9.4.1 Asia Oceania and North America Are the Fastest-Growing Markets for Lightweight Material in Bumper & Fender9.5 Engines & Exhausts9.5.1 Europe is the Largest Market for Lightweight Material in Engine & Exhaust Due to the Extensive Efforts on Engine Downsizing9.6 Transmission9.6.1 Use of Lightweight Material for Transmission in the RoW Region is More Compared to Other Regions9.7 Doors9.7.1 Europe and Asia Oceania Are the Largest Markets for Lightweight Material in Doors9.8 Hood & Trunk Lid9.8.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Hood & Trunk Lid Due to Increase in Trend for Vehicle Weight Reduction9.9 Seats9.9.1 Asia Oceania is the Largest Market for Lightweight Material in Seats9.10 Instrument Panel9.10.1 Asia Oceania is the Largest Market for Lightweight Material in Instrument Panel9.11 Fuel Tanks9.11.1 Asia Oceania is the Largest Market for Lightweight Material in Fuel Tank

10 Automotive Lightweight Material Market, by Vehicle Type10.1 Introduction10.1.1 Research Methodology10.1.2 Assumptions/Limitations10.1.3 Industry Insights10.2 Passenger Cars10.2.1 Europe is the Largest Market for Lightweight Material in Passenger Car10.3 Light Commercial Vehicles (Lcv)10.3.1 North America is the Fastest-Growing Market for Lightweight Material in Lcv10.4 Heavy Commercial Vehicles (Hcv)10.4.1 Asia Oceania is the Largest Market for Lightweight Material in Hcv11 Automotive Lightweight Material Market, by Electric & Hybrid Vehicle Type11.1 Introduction11.1.1 Research Methodology11.1.2 Assumptions/Limitations11.1.3 Industry Insights11.2 Battery Electric Vehicle11.2.1 North America is the Largest Market for Lightweight Material in Bev11.3 Hybrid Electric Vehicle11.3.1 North America is the Largest Market for Lightweight Material in Hev11.4 Plug-In Hybrid Electric Vehicle11.4.1 Asia Oceania is the Fastest Growing Market for Lightweight Material in Phev11.5 Electric Truck11.5.1 North America is the Largest Market for Lightweight Material in Electric Truck11.6 Electric Bus11.6.1 Asia Oceania is the Largest Market in Lightweight Material for Bus Due to the Higher Sale and Usage of Electric Bus in China

12 Electric Vehicle Lightweight Material Market, by Material Type12.1 Introduction12.1.1 Research Methodology12.1.2 Industry Insights12.2 Metals12.2.1 Bev is the Largest Lightweight Material Market for Metals12.3 Composites12.3.1 Bev is the Largest Lightweight Material Market for Composites12.4 Plastics12.4.1 Bev is the Largest Lightweight Material Market for Plastics12.5 Elastomer12.5.1 Bus is the Largest Lightweight Material Market for Elastomers

13 Automotive Lightweight Vehicle Market, by Region13.1 Introduction13.2 Asia Oceania13.3 Europe13.4 North America13.5 Rest of the World (RoW)14 Recommendations14.1 Asia Oceania Will Be the Key Market for Lightweight Material Suppliers14.2 Composites Can Be a Key Focus for Lightweight Material Suppliers14.3 Conclusion

15 Adjacent Markets15.1 Adjacent & Related Markets15.1.1 Introduction15.2 Limitations15.3 Automotive Lightweight Material Ecosystem & Interconnected Markets15.4 Body in White Market15.4.1 Market Definition15.4.2 Market Overview15.4.3 Body in White Market, by Region15.5 Composites Market15.5.1 Market Definition15.5.2 Market Overview15.6 Composites Market, by Manufacturing Process and Region15.7 Composites Market15.8 Metal Casting Market15.8.1 Market Definition15.8.2 Market Overview15.8.3 Metal Casting Market15.9 Metal Forming Market15.9.1 Market Definition15.9.2 Market Overview15.9.3 Metal Forming Market

16 Competitive Landscape16.1 Overview16.2 Competitive Leadership Mapping16.2.1 Visionary Leaders16.2.2 Innovators16.2.3 Dynamic Differentiators16.2.4 Emerging Companies16.3 Competitive Leadership Mapping Matrix - Lightweight Material Suppliers16.4 Company-Wise Product Offering Analysis - Lightweight Material Suppliers16.5 Company-Wise Business Strategy Analysis - Lightweight Material Suppliers16.6 Competitive Leadership Mapping - Lightweight Component Manufacturers16.7 Company-Wise Product Offering Analysis - Lightweight Component Manufacturers16.8 Company-Wise Business Strategy Analysis - Lightweight Component Manufacturers16.9 Market Share Analysis16.10 Competitive Scenario16.10.1 New Product Developments16.10.2 Expansions16.10.3 Mergers & Acquisitions16.10.4 Partnerships/Agreements/Supply Contracts/ Collaborations/Joint Ventures

17 Company Profiles17.1 BASF SE17.2 Covestro AG17.3 Lyondellbasell Industries Holdings B.V.17.4 Toray Industries, Inc.17.5 Arcelormittal17.6 Thyssenkrupp AG17.7 Novelis, Inc.17.8 Alcoa Corporation17.9 Owens Corning17.10 Stratasys Ltd.17.11 Additional Companies17.11.1 Asia Oceania17.11.1.1 Tata Steel17.11.1.2 Posco17.11.2 Europe17.11.2.1 Sgl Carbon17.11.2.2 Lanxess17.11.2.3 Borealis AG17.11.3 North America17.11.3.1 Dowdupont17.11.3.2 Ak Steel Corporation17.11.3.3 U.S. Magnesium LLC17.11.3.4 Aleris Corporation17.11.4 RoW17.11.4.1 WHB Brasil

18 Appendix

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Automotive Lightweight Material Market by Material, Application & Component, Vehicle Type, Region - Global Forecast to 2025 - PRNewswire