The global lightweight automotive materials market is slated to touch a value of about US$ 76,200 Mn in the year 2022 and grow at a steady CAGR during the assessment period.
This report uses SWOT analysis, which stands for Strength, Weakness, Opportunities, and Threat to the Organization, to give an in-depth analysis of the “Lightweight Automotive Materials Market.” The study on the market for lightweight automotive materials also offers a thorough analysis of the major companies in the industry based on their profiles, product descriptions, production volumes, raw material requirements, and overall financial health.
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The prospects of growth of the global lightweight automotive materials market are positively influenced by the recent increase in the automotive regulatory requirements. Due to the growing menace of rising levels of air pollution, governments all across the world have enacted stringent laws and requirements pertaining to the reduction in the emissions of carbon dioxide from the vehicles. A reference can be made of the Kyoto Protocol that commits the countries that have signed this protocol to restrict the emissions of greenhouse gases in the atmosphere. Due to such factors, the automotive manufacturers are increasingly turning to use lightweight materials in the vehicles they manufacture. Such kind of lightweight materials reduce the overall weight of the vehicles, thereby improving the fuel efficiency of such vehicles and cutting the emissions of greenhouse gases. However, the high cost of such lightweight materials is hampering the growth of this market.
The global lightweight automotive materials market is slated to touch a value of about US$ 76,200 Mn in the year 2022 and grow at a steady CAGR during the assessment period.
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Forecast Highlights on Global Lightweight Automotive Materials Market
- As per the forecast of Persistence Market Research, the HSS additive type segment is slated to touch a value of nearly US$ 10,000 Mn in the year 2022. This represents a moderate CAGR growth during the assessment period of 2017-2022. The HSS additive type segment is estimated to account for more than one-tenth of the revenue share of the additive type segment by the year 2017 and is forecasted to lose market share by 2022 over 2017.
- As per the forecast of Persistence Market Research, the mid-sized passenger cars segment will reach a value of about US$ 12,500 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The mid-sized passenger cars segment is forecasted to account for more than one-fifth of the total revenue share of the vehicle type segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.
- As per the forecast of Persistence Market Research, the body-in white application type segment is slated to reach a value of nearly US$ 18,700 Mn in 2022. The body-in white application type segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the APEJ region in the body-in white application type segment.
- Persistence Market Research forecasts the China lightweight automotive materials market to exhibit a compound annual growth rate (CAGR) of more than 5% from 2017 to 2022.
The report has also included the profiles of some of the leading companies in the lightweight automotive materials market like ArcelorMittal SA, Owens Corning, BASF SE, ThyssenKrupp AG, Covestro AG., PPG Industries, Inc., LyondellBasell Industries NV, Alcoa Inc., Novelis, Inc. and Toray Industries, Inc.
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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