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Global Automotive Lightweight Material Market Analysis by Whipsmart Industry Report

The automotive lightweight material market is projected to grow at a CAGR 4.18% rate from 2021 to 2026 due to increasing stringency of vehicle emission and fuel economy regulations.

BEV is expected to be the largest segment. BEV is powered by an electric battery that uses chemical energy stored in the battery. The battery used in a BEV is rechargeable and accounts for about 70% weight of the electric vehicle. OEMs are investing heavily in research and development to increase the efficiency of electric vehicles by reducing the overall vehicle weight.

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Europe is projected to hold the largest market share. The implementation of Euro 6 norms will reduce pollutants such as nitrogen oxide and carbon monoxide. It will also compel OEMs to improve fuel economy and lower CO2 emission levels. Also, lightweight materials manufacturers and suppliers are investing heavily in R&D to create new and advanced lightweight materials which will increase the demand for vehicles.

Key market players include BASF SE (Germany), Covestro AG (Germany), Lyondell Basell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan), ArcelorMittal (Luxembourg), Thyssenkrupp AG (Germany), Novelis, Inc. (US), and Alcoa Corporation (US).

Key Questions addressed by the report

  • Which application will lead the automotive lightweight material market in the future?
  • How will government regulations impact the automotive lightweight material market globally?
  • How would the growing trend of electric vehicles impact the automotive lightweight material market over the next 8 years?
  • What would be the share of different materials in the automotive lightweight material market?

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