Global Automotive Lightweight Materials Market 2016-2020

Global market overview for automotive lightweight materials

In terms of revenue, the global automotive lightweight materials market is envisaged to grow at a CAGR of almost 9% by 2020. The growth prospects for this market are affected by the recent increase in automotive regulatory requirements. It has been noted by Technavio’s market research analyst that the number of laws and regulation pertaining to the reduction of emission of carbon dioxide from automobiles is on the rise. The Kyoto protocol restricts the emission of carbon dioxide and other greenhouse gasses into the atmosphere. With emission norms becoming stricter every passing day, there is a rise in the demand for lightweight materials as it helps to boost efficiency. The application of lightweight materials in automobile components can help to achieve the necessary emission requirements and increase vehicular efficiency.

In terms of geography, it has been noted that APAC dominates this market and is estimated to further enhance its hold over the market by the end of 2020.  The automotive lightweight materials market in APAC is forecasted to increase due to an increase in the production of automobiles and a subsequent rise in the demand for fuel efficient vehicles from APAC. It is the only geography to witness an increase in its market share. Furthermore, with the presence of key global automakers, such as Toyota, Suzuki, Honda, Nissan, Suzuki, Mazda, Mitsubishi (Japan), Dongfeng, Changan, Geely (China), Tata, Mahindra and Mahindra (India), and Hyundai (South Korea), this region is envisaged to witness strong growth over the next few years.

Competitive landscape and key vendors

This market fragmented in nature as it is characterized by the presence of numerous players who are involved in this business segment. The suppliers manufacture different varieties of these lightweight materials to satisfy the needs of the automotive OEMs and other global, as well as local, automakers. Also, many vendors are upgrading their product portfolio and introducing technological solutions to cater to the requirements of the enormous global automotive industry.

Key vendors in this market are -

• Alcoa
• ArcelorMittal
• BASF
• Toray Industries
• US Magnesium

Other prominent vendors analyzed in this market study are Akzo Nobel, Aleris, AMG, Borealis, Constellium, Covestro, Dead Sea Magnesium, Dow Chemical, Henkel, Johnson Controls, KOBELCO, LyondellBasell Industries, Magna, Norsk Hydro, Novelis, Owens Corning, POSCO, PPG, SABIC, Teijin, ThyssenKrupp, and UACJ.

Segmentation by application and analysis of the automotive lightweight materials market

• Structural components
• Interior components
• Exterior components
• Powertrain components

During 2015, the structural components segment dominated the automotive lightweight materials industry in terms of application and is estimated to enhance its hold over the market by the end of 2020. Structural components consist of body panels, chassis, and cross-members. As structural components consist of the main frame and have the highest percentage of automotive weight, automotive manufacturers are concentrating on the weight reduction and strength of these components. Due to their high importance, these components will be the most significant area of focus for automakers and will have a high growth rate over the next few years.

Segmentation by product type and analysis of the automotive lightweight materials market

• Metals
• Plastics
• Composites

At present, the metals segment dominates this market and is estimated to witness a slight decline in its market shares by the end of 2020. The global automotive lightweight metals market has the largest market share among the three product types of the global automotive lightweight materials market. In many cases, aluminum and HSS have replaced the use of traditional heavy steel and iron in the automotive industry. Aluminum is utilized for transmission casings, wheels, heat exchangers, and engine blocks.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global automotive lightweight materials market growth?
• What are the key market trends impacting the growth of the global automotive lightweight materials market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive lightweight materials market?
• What are the market opportunities and threats faced by the vendors in the global automotive lightweight materials market?
• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?