The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Electric Vehicle Lightweight Materials Global Market Report 2024, the electric vehicle lightweight materials market is expected to show significant growth in the forecast period.

• Historical Growth Drivers
  • Fuel efficiency and range optimization
  • Stringent emission standards
  • Increased consumer awareness
  • Cost reduction in manufacturing
  • Focus on sustainability
  • Urbanization and traffic efficiency
  • Advancements in composite manufacturing

• Forecasted Growth Drivers
  • Increasing range expectations
  • Expansion of charging infrastructure
  • Rising demand for affordable EVs
  • Integration of autonomous driving
  • Improved energy density in batteries
  • Enhanced performance requirements
  • Emergence of energy-efficient materials

View More On The Electric Vehicle Lightweight Materials Market Report 2024 – https://www.thebusinessresearchcompany.com/report/electric-vehicle-lightweight-materials-global-market-report

Surge In Electric Vehicle Adoption Drives Growth Of Electric Vehicle Lightweight Materials Market

The rise in the adoption of electric vehicles (EVs) is expected to boost the growth of the electric vehicle lightweight materials market going forward. An electric vehicle refers to one that can be propelled by an electric motor that gets power from a battery and can be recharged from an external source. The next generation of electric vehicles may be largely dependent on lightweight materials. Electric vehicles’ weight can be significantly decreased by using composite materials made of fiber-reinforced plastic polymers, which also improve their performance, longevity, and range. The rise in the adoption of electric vehicles (EVs) is driving the growth of the electric vehicle lightweight materials market.

Innovations Driving Market Growth

• Product Innovation
  • Sustainable, cost-effective lightweight materials
• Technological Innovation
  • Nano-dispersion technology
• Strategic Acquisitions
  • Expanding specialized offerings

Evonik And Vestaro Introduce Next-Gen Electric Vehicle Battery Packs With Nano-Dispersion Technology

Product innovation has emerged as the key trend gaining popularity in the electric vehicle lightweight materials market. Major companies operating in the electric vehicle lightweight materials market are developing innovative products like sustainable, cost-effective lightweight materials to strengthen their position in the market. For instance, in March 2022, Evonik Industries, a Germany-based specialty chemicals company, and Vestaro GmbH, a Germany-based specialty chemicals company, jointly launched a new generation of electric vehicle battery packs called pure performance battery with new nano-dispersion technology. The unique features of the pure performance battery include the extraordinary qualities of VESTALITE curing chemicals and the unique Epoxy-SMC cover to develop the new glass fiber-SMC cover. The latest SMC materials not only reduce the weight of the battery housing by nearly 10% when compared to equal-performing covers made from more expensive materials, but they also provide the same performance levels as previous metal-based enclosures while giving designers the design freedom for semi-integral integration. Evonik’s wide material toolset and experience enable for the resolution of all EMI-shielding difficulties with GF composites.

Avient Acquires Royal DSM’s Protective Materials Business To Expand Specialized Offerings

In September 2022, Avient Corporation, a US-based provider of specialty polymer formulations, acquired the protective materials business of Royal DSM N.V. for an undisclosed amount. Through this acquisition, Avient’s specialty transformation would broaden its range of material options to offer solutions for applications that need the highest level of performance including the Dyneema brand, which will be listed under the company’s Specialty Engineered Materials business and will now be known as Avient Protective Materials. With the addition of protective materials, Avient has greatly expanded the scope of its fastest-growing platform and solidified its position as a leader in the advanced composites industry. DSM is a Netherlands-based company operating in lightweight material solutions.

Market Segmentation

The electric vehicle lightweight materials market covered in this report is segmented by:

• Material Type
  • Metals and Alloys
  • Composites
  • Plastics
  • Elastomers
  • Other Material Types
• Vehicle Type
  • Passenger Cars (Hatchbacks and Sedans)
  • Utility Vehicles (SUVs, MPVs, Compact SUVs)
  • Light Commercial Vehicles
  • Medium and Heavy-duty Vehicles
  • Buses and Coaches
• Propulsion Type
  • BEVs
  • PHVs
  • HEVs
• Application
  • Battery Packs
  • Electric Traction Motors
  • Electronic Components
  • Power Electronic Controllers
  • Body-in-White
  • Chassis and Suspension
  • Transmissions
  • Doors
  • Interiors
  • Other Applications

Regional Analysis
Asia-Pacific was the largest region in the electric vehicle lightweight materials market in 2023, and is expected to be the fastest-growing region in the electric vehicle lightweight materials market during the forecast period.

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The Electric Vehicle Lightweight Materials Global Market Report 2024  provides an in-depth analysis on the electric vehicle lightweight materials market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the electric vehicle lightweight materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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