Global Automotive Lightweight Materials Market: Snapshot

The global market for automotive lightweight materials has been rising exponentially over the last few years. The increasing need to improve the safety and fuel economy in automobiles has compelled automakers to shift to lightweight materials, which has reflected greatly on this market. The rising enforcement of stringent rules and regulations regarding emission control has only added to the uptake of lightweight designs from automobile manufacturers.

Researchers expect the scenario to remain more or less same over the forthcoming years, with the automotive industry expanding at an amazing pace. However, the high cost of these materials may limit their uptake to some extent in the near future, impacting the growth of the worldwide automotive lightweight materials market.

The opportunity in the global automotive lightweight materials market was worth US$149.03 bn in 2015. Analysts estimate the market to swell at a CAGR of 8.30% between 2016 and 2024 and touch US$301.36 bn by the end of 2024.

automotive lightweight materials market

Demand for Metals from Automakers to Continue to Rise

Plastic, metal, rubber, and composites are the main products available in the global lightweight materials market. Holding a share of more than 60%, metals were the most valued product in this market in 2015 and are expected to remain so over the next few years. The suitability of various metals, such as aluminum, steel, and magnesium in automobiles has emerged as the key factor behind the immense demand for metals in automobile manufacturing.

The demand for steel is higher in automobile manufacturing than other metals, thanks to its innate properties, such as strength, rigidity, durability, and machinability. The innovation in various grades of steel, such as DP, UHSS, and CP to further reduce the weight, is anticipated to fuel its demand from automakers in the near future.

North America to Remain Global Leader

The global automotive lightweight materials market has its presence across North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific. With a share of more than 30%, North America dominated this market in 2015. Thanks to the swelling automotive industry and stringent government regulations to curb the carbon emission, this regional market is likely to retain its lead over the forthcoming years. The technological advancements, extensive research to enhance the capabilities of lightweight materials, strong manufacturing base, especially in the U.S., and the presence of automakers in a large number are the key factors favoring the North America automotive lightweight materials market.

Asia Pacific, on the other hand, is expected to present the most lucrative opportunities for lightweight material vendors over the next few years on account of the changing lifestyle of consumers, rising disposable income, and the immensely burgeoning automotive industry.

BASF SE, Momentive Performance Materials, The Dow Chemical Co., LANXESS AG, Reliance Industries Ltd., LyondellBasell Industries N.V., Saudi Basic Industries (SABIC), Grupo Antolin-Irausa S.A., Lear Corp., Johnson Controls Inc., Magna International, Faurecia S.A., Toyota Boshoku Corp., Yanfeng Automotive Trim Systems Co. Ltd., and Sage Automotive Interiors are the key vendors of automotive lightweight materials across the world.

Global Automotive Lightweight Materials Market: Overview

This report analyzes and forecasts the market for Automotive Lightweight Materials at the global and regional level. The market has been forecast based on revenue (US$ Mn) & Volume (Kilo Tons) from 2016 to 2024. The study includes drivers and restraints of the global Automotive Lightweight Materials market. It also covers the impact of these drivers and restraints on demand for Automotive Lightweight Materials during the forecast period. The report also highlights opportunities in the Automotive Lightweight Materials market at the global and regional level.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global Automotive Lightweight Materials market. Porter’s Five Forces model for the Automotive Lightweight Materials market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein various application areas of automotive lightweight materials are benchmarked based on their market size, growth rate, and general attractiveness.

Global Automotive Lightweight Materials Market: Scope of the Study

The study provides a decisive view of the global Automotive Lightweight Materials market by segmenting it in terms product and end use. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for Automotive Lightweight Materials in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides the estimated market size of Automotive Lightweight Materials for 2015 and forecast for the next nine years. The global market size of Automotive Lightweight Materials has been provided in terms of volume and revenue. Market numbers have been estimated based on product, vehicle type and application segment of Automotive Lightweight Materials. Market size and forecast for each major product, vehicle type and application have been provided in terms of global and regional markets.

Global Automotive Lightweight Materials Market: Research Methodology

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, OICA, ACES, Autoworld, GALM, etc.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

Global Automotive Lightweight Materials Market: Competitive Analysis

The study includes profiles of major companies operating in the global Automotive Lightweight Materials market. Key players profiled in the report include Automotive Lightweight Materials market include BASF SE, The Dow Chemical Company, Momentive Performance Materials, LANXESS AG, Lear Corporation, Faurecia S.A., Magna International and others.  Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis.

The report segments the global Automotive Lightweight Materials market as:

By Product

  • Plastics
    • Polypropylene (PP)
    • High Density Polyethylene (HDPE)
    • Polyvinyl Chloride (PVC)
    • Acrylonitrile Butadiene Styrene (ABS)
    • Polycarbonate (PC)
    • Polyurethane (PU)
  • Rubber
  • Composites
  • Metal
    • Aluminum
    • Magnesium
    • Steels
    • Other Alloys

By Vehicle Type

  • Passenger Cars
    • Compact Cars
    • Mid-Size
    • Premium
    • Luxury
  • Commercial Vehicles
  • Heavy Trucks and Buses

By Application

  • Interior
  • Exterior
  • Under Bonnet
  • Structural

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • Egypt
    • South Africa
    • Rest of MEA