Global Automotive Lightweight Materials Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Automotive Lightweight Materials Market Report by The Business Research Company covers automotive lightweight materials market drivers and restraints, automotive lightweight materials market size, major players, and the impact of COVID-19 on the automotive lightweight materials market.
The automotive lightweight material market consists of sales of automotive lightweight materials by entities (organizations, sole traders, and partnerships) that are engaged in the production of different lightweight materials for the manufacturing of automotive components such as carbon fiber, aluminum, and magnesium among others. Automotive lightweight materials are used in vehicles to decrease weight, increase speed, and improve fuel economy. Due to advantages such as reduced material consumption, increased strength, low degradation risk, and improved handling, these lightweight materials are an excellent substitute for bulky conventional materials previously used to build vehicle frames.
The global automotive lightweight material market is expected to grow from $82.53 billion in 2020 to $86.92 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive lightweight material market is expected to reach $133.01 billion in 2025 at a CAGR of 11.2%.
The surge production of electric vehicles is expected to propel the growth of the automotive lightweight material market over the coming years. Electric vehicles are automobiles that are powered entirely or partially by electricity. Electric vehicles have minimal operating expenses since they have fewer moving parts to maintain, and they are also very eco-friendly because they consume little or no fossil fuels (petrol or diesel). Lightweight materials such as carbon-fiber-reinforced plastic are used in modern electric vehicles, allowing them to run purely on electricity and avoid being classified as hybrids.
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Some automotive lightweight materials market trends include new product developments and compositions. Key players in the automotive lightweight materials market are focusing on developing new and innovative products to the market using lightweight materials such as carbon fiber, aluminum and replacing generic materials
Global automotive lightweight materials market segments include:
1) By Material Type: Metals, Composites, Plastics, Elastomer
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
3) By Application: Body In White, Chassis And Suspension, Powertrain, Closures, Interiors, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Automotive Lightweight Materials Global Market Report 2021: COVID-19 Impact and Recovery To 2030 is one of a series of new reports from The Business Research Company that provides automotive lightweight materials market overviews, analyzes and forecasts market size, share, automotive lightweight materials market players, automotive lightweight materials market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The automotive lightweight materials identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: BASF SE, Covestro AG, LyondellBasell Industries Holdings B.V., Toray Industries Inc., ArcelorMittal, ThyssenKrupp AG, Novelis Inc., Alcoa Corporation, Stratasys Ltd., Owens Corning, Tata Steel, and POSCO.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Automotive Lightweight Materials Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Automotive Lightweight Materials Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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