12 November 2018 - The Global Automotive Light Weight Materials Market is expected to witness significant growth in the forecast period owning to its wide spread applications in automotive sector. Due to stringent rules and regulations pertaining to emissions and pollution levels, this is expected to further increase and have and a wider application platform. The growing demand in this market is majorly driven by increase in the consumption of light weight materials in the automotive industry. The Global Automotive Lightweight Materials market is expected to grow over the forecast period owing to the growth in the average production of vehicles and sales volume globally per year. Light weight materials are characterized by high strength and lighter weights. Light weight materials enhance the bettering parameters such as acceleration and handling. Automakers usually obtain more freedom, flexibility and ease with the introduction of light weight materials in the automotive industry. It enables designers to design vehicles that can be electronically operated by using batteries which are available at lowers costs and provide higher performance
Structural application of these markets are estimated to have the largest growth and a market share in terms of value. With stringent emission norms, manufacturers in the automotive industry are required to follow regulations that lead them to use light weight materials that indirectly improves efficiency in their vehicles. Requirements like better fuel efficiency, improved mileage, better fuel economy, an improved driving experience, better performance of the vehicle in addition to a greater power in the driving experience ae other factors that fuel the increase in demand from consumers for light weight materials. In addition, use of light weight materials reduce the weight of the vehicle that provides enhanced security and better experience. It has also given automotive designers an opportunity to innovate and create new designs and structures owing to the property of these materials to be readily and easily be molded into any desirable shape and size. They therefore provide an added advantage of innovation to automotive manufacturers.
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Original Equipment manufacturers (OEM) have further contributed to the increased usage of light weight materials mainly the carbon filter in automotive vehicles. Metal like Aluminium is used for manufacturing casing used for transmission, manufacturing engines and wheels. Some OEMs have begun using aluminum to manufacture the whole automotive vehicle. However, there are high costs and funds associated with designing vehicles which can hinder the growth in demand for vehicles in this industry. Another metal which is a part of light weight materials used in the automotive market is magnesium It is used in manufacturing instrument panels and car beams owing to the property that it is less dense that steel or aluminum. Composites, is another light weight material that is growing at an increasing pace owing to its flexible property of designing in any shape. Glass fiber composites are widely used in the automotive industry for the same property of being ductile Carbon fiber composites are expected to grab a larger share as compared to other composites as they are much lighter with respect o other composites. However, they are expensive and this can hamper the growth of this light weight material in the automotive industry in the forecast period.
Light weight materials have a wide spread presence in the aerospace industry. Plastics, carbon fibers and metals are used to manufacture and design the structural, interior and exterior parts of a vehicle The fuel consumption of a vehicle is drastically reduced by making the vehicle as light as possible. If the weight of a vehicle is reduced by 10% the fuel consumption can be reduced by about 5% to 7% owing to the reduced effort required to move and accelerate the vehicle. Lighter the weight of the vehicle, lesser would be the fuel consumption. Asia Pacific is estimated to be the largest market in automotive light weight materials industry in terms of volume. Major contributors of light weight materials in Asia are China, India and Japan. Due to a reasonable amount of demand for vehicles, by volume, in these regions, there are several light weight manufacturers and suppliers who are readily available to contribute to the market that can provide them with better profits.
In Northern America, it was the U.S that contributed to the largest share in the automotive light weight materials market. However, developing economies in Asia- Pacific such as China and India are expected to be the new revenue-generating areas for the existing market players in the foreseeable future. Increase in population, growing economies, strict emission rules and regulations, better awareness about eco-friendly system and advantages of a better fuel efficient vehicle are the key drivers that have a major effect on the automotive light weight materials marketin these regions. Key players in the automotive lightweight materials market industry have been identified to be Arcelor Mittal S.A. (Luxemburg), Thyssen Krupp AG (Germany), Novelis Inc. (U.S.), Toray Industries Inc. (Japan) and Bayer AG (Germany). These market players usually strategize by geographically expanding or by mergers & acquisitions.
Market Segment:
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Automotive Lightweight Materials in these regions, from 2013 to 2025 (forecast), covering
• North America
• Europe
• China
• Japan
• Southeast Asia
• India
Global Automotive Lightweight Materials market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• BASF
• Toray Industries
• Dow Chemical
• Akzo Nobel
• Reliance Industries Ltd.
• AMG Advanced Metallurgical Group
• Borealis
• Constellium
• LANXESS AG
• Johnson Controls
• KOBELCO
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