Automotive Lightweight Material Market Introduction and Overview
According to SPER Market Research, the Global Automotive Lightweight Material Market is estimated to reach USD 168.19 billion by 2033 with a CAGR of 7.9%.
The report includes an in-depth analysis of the Global Automotive Lightweight Material Market, including market size and trends, product mix, applications, and supplier analysis. Automotive lightweight materials are specific materials used in the construction of automobiles to minimise total weight while preserving or improving performance. High-strength steel, magnesium, aluminium, and composite materials are among them. They are extensively utilised in the body constructions, suspensions, braking systems, interiors, wheels, and tyres of automobiles. Automotive lightweight materials contribute to increased cargo capacity, enhanced braking performance, lower carbon dioxide emissions, and improved fuel efficiency. They also provide a high strength-to-weight ratio, increase the longevity of the vehicle, provide designers more creative freedom, and lessen the strain on other vehicle components.
- In March 2023: To design and construct complex metal and hybrid structures for body-in-white and chassis, ArcelorMittal and KIRCHHOFF Automotive GmbH partnered and signed a memorandum of understanding (MoU). ArcelorMittal hopes to break into the market for lightweight vehicle materials with this venture.
- In October 2022: A polypropylene (PP) compound created by LyondellBasell can lower a vehicle's weight by 10 kg.
- In June 2021: Continuous fiber-reinforced thermoplastic polymer (CFRTP), a novel composite with a strong structure and low weight, was created by Covestro AG.
Market Opportunities and Challenges
The trend of vehicle electrification and entering into agreements and contracts with automotive OEMs are expected to present market participants with profitable growth opportunities. Sales in the industry have expanded as a result of investments made in research and development, as key firms aim to lower the cost of these materials while enhancing their recyclability. Growing consumer demand for products that lower vehicle emissions and the total carbon footprint is being facilitated by the increased focus on sustainability. The industry is expanding due in part to the growing use of lightweight materials by automakers to distinguish their goods and obtain a competitive advantage. Aside from this, another element driving growth is the extensive use of products to improve car safety features.
Furthermore, the industry is expanding because of recent improvements in manufacturing processes that have made it simpler and more affordable to include lightweight materials into mass-produced automobiles. In addition, the general public's growing understanding of the advantages of products in advancing sustainability is supporting market expansion. The market's expansion is, however, constrained by the high cost of materials as well as a decline in automobile production and sales. Materials that are lightweight come at an excessively high cost. Certain lightweight materials, such carbon fibre reinforced plastics (CFRP) and glass fibre reinforced plastics (GFRP), are more costly than conventional materials like steel and aluminium.
Market Competitive Landscape
The majority of the market share is held by a large number of manufacturers in a highly competitive industry. A few of the crucial company tactics employed by industry players to preserve and expand their worldwide reach are product releases, approvals, strategic acquisitions, and innovations. The major players in the Global Automotive Lightweight Material market include: Alcoa Corporation, ArcelorMittal, BASF SE, Bayer AG, Covestro AG, Grupo Antolin, LyondellBasell, Magna International, Novelis, Owens Corning Corporation, PPG Industries, Saudi Arabia Basic Industries Corporation (SABIC), Toray Industries, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Material Type, By Propulsion Type, By Component, By Application, By Vehicle Type
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Alcoa Corporation, ArcelorMittal, BASF SE, Bayer AG, Covestro AG, Grupo Antolin, LyondellBasell, Magna International, Novelis, Owens Corning Corporation, PPG Industries, Saudi Arabia Basic Industries Corporation (SABIC), Toray Industries, Others |
COVID-19 Impact on Global Automotive Lightweight Material Market
The global automotive lightweight materials market has faced a significant downturn amid the COVID-19 pandemic. Reduced production and demand, disrupted supply chains, and extended lockdowns have led to a decline in industrial activities, affecting the manufacturing of automotive lightweight materials. The closure of key production units has further hampered the industry. Despite the eventual lifting of lockdowns, the recovery of normal production is expected to take several quarters. The decreased demand in the second quarter of 2020 is anticipated to have a lasting impact on the long-term growth of the global automotive lightweight material market.
Key Target Audience:
- Automotive Engineers
- Automotive Manufacturers
- Environmental Organizations
- Insurance Companies
- Materials Suppliers
- Research and Development Teams
- Others
Our in-depth analysis of the Automotive Lightweight Material Market includes the following segments:
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By Material Type:
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Composite
Elastomer
Metal
Plastic
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By Propulsion Type:
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Electric Powered
IC Engine Powered
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By Component:
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Bumper & Fender
Door and Seat
Engine & Exhaust
Frame
Fuel Tank
Hood & Trunk Lid
Instrument Panel
Seats
Transmission
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By Application:
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Body in White
Chassis and Suspension
Closures
Exterior
Interiors
Powertrain
Structural
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By Vehicle Type:
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Heavy Commercial Vehicle (HCV)
Light Commercial Vehicle (LCV)
Passenger Vehicle
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Key Topics Covered in the Report:
- Global Automotive Lightweight Material Market Size (FY’2023-FY’2033)
- Overview of Global Automotive Lightweight Material Market
- Segmentation of Global Automotive Lightweight Material Market By Material Type (Composite, Elastomer, Metal, Plastic, Other)
- Segmentation of Global Automotive Lightweight Material Market By Propulsion Type (Electric Powered, IC Engine Powered, Others)
- Segmentation of Global Automotive Lightweight Material Market By Component (Bumper & Fender, Door and Seat, Engine & Exhaust, Frame, Fuel Tank, Hood & Trunk Lid, Instrument Panel, Seats, Transmission, Wheel, Others)
- Segmentation of Global Automotive Lightweight Material Market By Application (Body in White, Chassis and Suspension, Closures, Exterior, Interiors, Powertrain, Structural, Others)
- Segmentation of Global Automotive Lightweight Material Market By Vehicle Type (Heavy Commercial Vehicle, Light Commercial Vehicle, Passenger Vehicle)
- Statistical Snap of Global Automotive Lightweight Material Market
- Expansion Analysis of Global Automotive Lightweight Material Market
- Problems and Obstacles in Global Automotive Lightweight Material Market
- Competitive Landscape in the Global Automotive Lightweight Material Market
- Impact of COVID-19 and Demonetization on Global Automotive Lightweight Material Market
- Details on Current Investment in Global Automotive Lightweight Material Market
- Competitive Analysis of Global Automotive Lightweight Material Market
- Prominent Players in the Global Automotive Lightweight Material Market
- SWOT Analysis of Global Automotive Lightweight Material Market
- Global Automotive Lightweight Material Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Automotive Lightweight Material Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Automotive Lightweight Material Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Automotive Lightweight Material Market
7. Global Automotive Lightweight Material Market, By Material Type (USD Million)
7.1. Global Automotive Lightweight Material Market Value Share and Forecast, By Material Type, 2023-2033
7.2. Composite
7.2.1. Carbon Fiber Reinforced Polymer (CFPR)
7.2.2. Glass Fiber Reinforced Polymer (GFRP)
7.2.3. Natural Fiber Reinforced Polymer (NFRP)
7.2.4. Other Composites
7.3. Elastomer
7.4. Metal
7.4.1. Aluminum
7.4.2. High Strength Steel (HSS)
7.4.3. Magnesium & Titanium
7.5. Plastic
7.6. Other
8. Global Automotive Lightweight Material Market, By Propulsion Type (USD Million)
8.1. Global Automotive Lightweight Material Market Value Share and Forecast, By Propulsion Type, 2023-2033
8.2. Electric Powered
8.3. IC Engine Powered
8.4. Others
9. Global Automotive Lightweight Material Market, By Component (USD Million)
9.1. Global Automotive Lightweight Material Market Value Share and Forecast, By Component, 2023-2033
9.2. Bumper & Fender
9.3. Door and Seat
9.4. Engine & Exhaust
9.5. Frame
9.6. Fuel Tank
9.7. Hood & Trunk Lid
9.8. Instrument Panel
9.9. Seats
9.10. Transmission
9.11. Wheel
9.12. Others
10. Global Automotive Lightweight Material Market, By Application (USD Million)
10.1. Global Automotive Lightweight Material Market Value Share and Forecast, By Application, 2023-2033
10.2. Body in White
10.3. Chassis and Suspension
10.4. Closures
10.5. Exterior
10.6. Interiors
10.7. Powertrain
10.8. Structural
10.9. Others
11. Global Automotive Lightweight Material Market, By Vehicle Type (USD Million)
11.1. Global Automotive Lightweight Material Market Value Share and Forecast, By Vehicle Type, 2023-2033
11.2. Heavy Commercial Vehicle (HCV)
11.3. Light Commercial Vehicle (LCV)
11.4. Passenger Vehicle
12. Global Automotive Lightweight Material Market Forecast, 2019-2033 (USD Million)
12.1. Global Automotive Lightweight Material Market Size and Market Share
13. Global Automotive Lightweight Material Market, By Material Type, 2019-2033 (USD Million)
13.1. Global Automotive Lightweight Material Market Size and Market Share By Material Type (2019-2026)
13.2. Global Automotive Lightweight Material Market Size and Market Share By Material Type (2027-2033)
14. Global Automotive Lightweight Material Market, By Propulsion Type, 2019-2033 (USD Million)
14.1. Global Automotive Lightweight Material Market Size and Market Share By Propulsion Type (2019-2026)
14.2. Global Automotive Lightweight Material Market Size and Market Share By Propulsion Type (2027-2033)
15. Global Automotive Lightweight Material Market, By Component, 2019-2033 (USD Million)
15.1. Global Automotive Lightweight Material Market Size and Market Share By Component (2019-2026)
15.2. Global Automotive Lightweight Material Market Size and Market Share By Component (2027-2033)
16. Global Automotive Lightweight Material Market, By Application, 2019-2033 (USD Million)
16.1. Global Automotive Lightweight Material Market Size and Market Share By Application (2019-2026)
16.2. Global Automotive Lightweight Material Market Size and Market Share By Application (2027-2033)
17. Global Automotive Lightweight Material Market, By Vehicle Type, 2019-2033 (USD Million)
17.1. Global Automotive Lightweight Material Market Size and Market Share By Vehicle Type (2019-2026)
17.2. Global Automotive Lightweight Material Market Size and Market Share By Vehicle Type (2027-2033)
18. Global Automotive Lightweight Material Market, By Region, 2019-2033 (USD Million)
18.1. Global Automotive Lightweight Material Market Size and Market Share By Region (2019-2026)
18.2. Global Automotive Lightweight Material Market Size and Market Share By Region (2027-2033)
18.3. Asia-Pacific
18.3.1. Australia
18.3.2. China
18.3.3. India
18.3.4. Japan
18.3.5. South Korea
18.3.6. Rest of Asia-Pacific
18.4. Europe
18.4.1. France
18.4.2. Germany
18.4.3. Italy
18.4.4. Spain
18.4.5. United Kingdom
18.4.6. Rest of Europe
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia
18.5.2. United Arab Emirates
18.5.3. Rest of Middle East & Africa
18.6. North America
18.6.1. Canada
18.6.2. Mexico
18.6.3. United States
18.7. Latin America
18.7.1. Argentina
18.7.2. Brazil
18.7.3. Rest of Latin America
19. Company Profile
19.1. Alcoa Corporation
19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments
19.2. ArcelorMittal
19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments
19.3. BASF SE
19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments
19.4. Bayer AG
19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments
19.5. Covestro AG
19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments
19.6. Grupo Antolin
19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments
19.7. LyondellBasell
19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments
19.8. Magna International
19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments
19.9. Novelis
19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments
19.10. Owens Corning Corporation
19.10.1. Company details
19.10.2. Financial outlook
19.10.3. Product summary
19.10.4. Recent developments
19.11. PPG Industries
19.11.1. Company details
19.11.2. Financial outlook
19.11.3. Product summary
19.11.4. Recent developments
19.12. Saudi Arabia Basic Industries Corporation (SABIC)
19.12.1. Company details
19.12.2. Financial outlook
19.12.3. Product summary
19.12.4. Recent developments
19.13. Toray Industries
19.13.1. Company details
19.13.2. Financial outlook
19.13.3. Product summary
19.13.4. Recent developments
19.14. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope