According to
a new market report published by Lucintel, the future of the global automotive
lightweight materials market looks promising with opportunities in passenger
cars, light commercial vehicles, and heavy commercial vehicles. The global
automotive lightweight materials market is expected to reach an estimated
$110.5 billion by 2023 and it is forecast to grow at a CAGR of 6.1% from 2018
to 2023. The major drivers of growth for this market are government regulations
concerning fuel economy and emissions, and increasing utilization of
lightweight materials by manufacturers. The other major driver is growth of
global vehicle production which is expected to grow at a CAGR of 2.5% during
the forecast period and to reach 113 million units by 2023.
AHSS, aluminum, plastics, magnesium, and
composites are the major material types used in the automotive industry. On the
basis of its comprehensive research, Lucintel forecasts that the AHSS, aluminum
and composites material segments will show above average growth during the
forecast period.
Passenger
car, light commercial vehicle, and heavy commercial vehicle are the major
vehicle segments of the global automotive lightweight materials market. The
passenger car segment is expected to show above average growth during the
forecast period due to the increasing penetration of lightweight materials per
vehicle.
Body in
White (BIW), powertrain, interior, and exterior are the major application
segments of the global automotive lightweight materials market. On the basis of
its comprehensive research, Lucintel forecasts that the Body in White and
powertrain applications will show above average growth during the forecast
period.
Europe is expected to remain the largest
region due to increasing use of lightweight materials content per vehicle
coupled with stringent government regulations to reduce carbon emissions and to
increase fuel efficiency. Asia Pacific is expected to witness significant
growth over the forecast period because of high vehicle production and continued
increase of lightweight materials content per vehicle.
Emerging trends, which have a direct impact on
the dynamics of the industry, include increasing use of aluminum in chassis and
structural applications, advanced manufacturing technology, development of
aluminum-air battery, third generation AHSS, and pre-oxidation to galvanize
AHSS, development of recycling technologies for plastics and replacement of PA
66 with cheaper and advanced PA 6. The major suppliers in the global automotive
lightweight materials market are ArcelorMittal SA, ThyssenKrupp AG, Alcoa Inc.,
Novelis Inc., Aleris International, Inc., POSCO, DowDuPont, LyondellBasell,
Tata Steel Limited, US Magnesium, Owens Corning, Toray, BASF SE, SABIC, and Huntsman.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities in the global automotive lightweight materials market by
material, vehicle type, application, and region. Lucintel has compiled a
comprehensive research report entitled “Growth
Opportunities in the Global Automotive Lightweight Materials Market 2018-2023:
Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst
for growth strategy, as it provides comprehensive data and analysis on trends,
key drivers, and directions. The study includes a forecast for the global
automotive lightweight materials market by material type, vehicle type,
application, and region, as follows:
By Material Type ($ Million and million pounds
from 2012 to 2023):
- AHSS
- Aluminum
- Magnesium
- Plastics
- Composites
By Vehicle Type ($ Million and million pounds
from 2012 to 2023):
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Application ($ Million and million pounds
from 2012 to 2023):
- BIW
- Powertrain
- Interior
- Exterior
- Others
By Region ($ Million and million pounds from 2012 to
2023):
- North America
o
US
o
Canada
o
Mexico
- Europe
o
Germany
o
France
o
Russia
o
United Kingdom
o
Italy
- Asia Pacific
o
China
o
Japan
o
India
o
South Korea
o
Indonesia
- The Rest of the World
o
Brazil
o
Turkey
This
240-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers the following 11 key questions:
Q.1. What are some of the most promising, high growth
opportunities for the automotive lightweight materials market by material type (aluminum, AHSS,
magnesium, plastics and composites), vehicle type (passenger cars, light
commercial vehicles, and heavy commercial vehicles), application (BIW,
powertrain, interior, exterior, and others) and region (North America, Europe,
Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which
region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the
key challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the market? Which companies are
leading these developments?
Q.9. Who are the major players in this market? What strategic
initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big
of a threat do they pose for loss of market share by material or product
substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has
its impact been on the industry?
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