Top 3 trends characterizing automotive lightweight materials market outlook over 2019-2026
Global automotive lightweight materials market has emerged as one of the most lucrative sectors in recent years. The industry is set to witness exponential growth in the coming years. This growth can be attributed to the growing need of reducing GHG emissions across the world. In addition, the rapidly increasing electric vehicle manufacturing activities are likely to augment the market share through 2026.
Material substitution in vehicles is another major factor fostering the market share. This is because this new practice plays a crucial role in decreasing secondary weight across load-bearing structures. This further helps in improving the fuel economy. Rising usage of lightweight materials in vehicles also helps improve driving performance.
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As per a research report from Global Market Insights, Inc., global automotive lightweight materials market is estimated to surpass $310 billion by 2026.
Below is a brief overview of top three automotive lightweight materials market trends. Developments that are expected to underline automotive lightweight materials industry landscape through 2026
Stringent government norms to create major traction
Along with rising vehicle production, increasing requirements for automakers to follow fuel emission regulations and enhance efficiency would positively influence the market outlook. In fact, as per the U.S. CAFE (Corporate Average Fuel Economy) rules, automobile manufacturers need to meet a fuel economy of 54.5 mpg till 2025.
In order to follow these norms, vehicle producers are finding alternative, lighter powertrains that help them adhere to these fuel emission standards.
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Rising prominence of UHSS and AHSS
With respect to the material segment, UHSS (Ultra-High Strength Steel) and AHSS (Advanced High Strength Steel) are currently gaining significant traction in the industry. In fact, they are predicted to generate considerable profits in the coming years.
This growth can be attributed to the improved performance capabilities these high strength materials deliver for crash energy management, while also offering superior strength at a significantly lesser production cost.
Additionally, higher work and brake hardening capabilities are enabling enhanced formability. They are also presenting new opportunities for optimization of complex part geometries. Substantial advancements in material properties are attained through technologically advanced manufacturing procedures and multimaterial optimization.
Performance characteristics of novel lightweight materials are precisely monitored and monitored using new simulation techniques which further help decrease the prototyping costs. All these benefits would possibly push automotive lightweight materials market outlook through 2026.
Mounting deployment across APAC
Speaking of the regional landscape, APAC automotive lightweight materials market is predicted to dominate the industry share over the forecast timespan. Japan and China would lead the market share of the region.
Increasing production of electric vehicles in these countries is a major factor responsible for market expansion in the region. In addition, incentive programs and promotional governmental policies are likely to boost electric vehicle demand.
Apart from increased manufacturing, multimaterial design approaches incorporating advanced composites and plastics is likely to drive the overall market outlook.
All in all, the above-mentioned factors are overtly indicative of a massive range of opportunities that are favorable for automotive lightweight materials market growth.
The competitive landscape of automotive lightweight materials industry is inclusive of players like WHB Brasil, Borealis, Ak Steel Corporation, Aleris Corporation, Sgl Carbon, Posco, LANXESS, Stratasys Ltd., Owens Corning, ThyssenKrupp AG, Arcelormittal, Alcoa Corporation, LyondellBasell, BASF, Toray, and Convestro among others.
Report Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and forecast parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
1.2.2.1. Paid
1.2.2.2. Unpaid
Chapter 2. Executive Summary
2.1. Automotive lightweight materials industry 3600 synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. Material trends
2.1.3. Application trends
2.1.4. Manufacturing process trends
2.1.5. Vehicle trends
2.1.6. Regional trends
Chapter 3. Automotive Lightweight Materials Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.3. Industry ecosystem analysis
3.3.1. Raw material supplier
3.3.2. Manufacturers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.4.1. OEM
3.3.4.2. Aftermarket
3.3.4.3. E-commerce
3.3.5. Vendor matrix
3.4. Technology landscape
3.4.1. Thin wall aluminum die casting
3.4.2. Warm forming
3.5. Automotive production, by region, 2013 – 2018
3.5.1. North America
3.5.2. Europe
3.5.3. APAC
3.5.4. LATAM
3.5.5. MEA
3.6. Pricing analysis
3.6.1. Cost structure analysis
3.7. Regulatory landscape
3.7.1. North America
3.7.2. Europe
3.7.3. APAC
3.7.4. LATAM
3.7.5. MEA
3.8. Industry impact forces
3.8.1. Growth drivers, by region
3.8.1.1. Stringent regulations for reducing fuel emissions
3.8.1.2. Increasing adoption of alternative powertrains
3.8.1.3. Emerging future mobility
3.8.1.4. Surging production of electric vehicles
3.8.2. Industry pitfalls & challenges
3.8.2.1. Affordability of light weighting solutions
3.8.2.2. High risks associated with new material adoption
3.8.2.3. Limited collaboration across automotive supply chain
3.9. Materials used for key vehicle components (Current & future)
3.10. Key OEM strategies for vehicle weight reduction
3.11. Lightweighting outlook for electric vehicles
3.12. Innovation and sustainability
3.13. Growth potential analysis
3.14. Porter’s analysis
3.15. Competitive landscape, 2018
3.15.1. Company market share analysis, 2018
3.15.2. Key stake holders
3.15.3. Strategy dashboard
3.16. PESTEL analysis
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