Global Automotive Lightweight Material Market – Overview
The augmented demand for refining the performance of automobiles is spurring the incorporation of lightweight materials in the car designs. Reports that evaluate the automobile industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is projected to develop at a formidable CAGR through the forecast period.
The raised demand for fuel efficiency is expected to motivate the demand for lightweight materials in the coming years. The intensive focus of the car manufacturers to boost comfort in their product offering is expected to intensify the implementation of lightweight materials further. The increasing number of competitors in the automotive sector is also projected to motivate the expansion of the lightweight material market in the upcoming period.
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The segmentation of the automobile lightweight material market is carried out on the basis of material, application, vehicle type, and region. On the basis of material, the automobile lightweight material market is segmented into rubber, metal, plastic, and others. Based on application, the automobile lightweight material market is segmented into exterior, interior, structural and others. The segmentation of the automobile lightweight material market on vehicle types comprises of light commercial vehicles, heavy commercial vehicles, passenger vehicles, and others. The regions involved in the scope of the automobile lightweight material market are North America, Europe, Asia Pacific and rest of the world.
Detailed Regional Analysis
The regional analysis of the automobile lightweight material market includes regions such as North America, Europe, Asia Pacific and rest of the world. The Asia Pacific region is assessed to be the quickest growing region in the automotive lightweight material market through the forecast period. The development of this region can be accredited to factors such as the thriving automotive industry in the region and the growing awareness of the people in the region related to the regulation of emissions from the automobiles which are made from heavyweight materials.
The absorbed expenses in the market are readily dispensed with, opening more room for the development in the market. The companies functioning in the market are persistently taking on the hindrances to progress and are forming strategies that are projected to guide to a beneficial outcome on the market’s advancement. The advancement of the market is upgraded chiefly due to the reduction in promotional and miscellaneous expenses. An intensified growth pace is observed due to the productive effect exerted by the market forces both externally and internally. The progress capability of the market is bolstered by the accretive nature of the assets available in the market. The market is projected to accomplish an absolute lead in the market place owing to improved strategies in specific areas. Additionally, the deals being coined in the market are likely to additionally inspire the development of the market in the impending years.
The significant companies in the automotive lightweight material market globally are Covestro AG (Germany), Toray Industries Inc. (Japan), ArcelorMittal S.A. (Luxembourg), Alcoa Inc., (U.S.), ThyssenKrupp AG (Germany), Lyondellbasell N.V. (U.S.), BASF SE (Germany), PPG Industries, Inc (U.S.), Owens Corning (U.S.), Novelis Inc,(U.S.) and others.
Mar 2019 The first prototype carbon fiber chassis has been delivered from new £50M McLaren Automotive innovation and manufacturing center. The chassis was produced in the firm’s new £50-million (US$66-million) innovation and production center in Yorkshire and delivered to the McLaren Production Center (MPC) in Surrey, UK. The chassis codenamed PLT-MCTC – 01 stands for ‘Prototype Lightweight Tub, McLaren Composites Technology center – 01. The tub finished its 175-mile journey to the British supercar and sportscars maker’s international headquarters where it will be engaged with stringent crash testing duties.
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LIST OF TABLES
TABLE 1 GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET, BY MATERIAL
TABLE 2 GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET, BY APPLICATIONS
TABLE 3 GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET, BY VEHICLE TYPE
TABLE 4 GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET, BY REGIONS
TABLE 5 NORTH AMERICA AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET, BY MATERIAL
LIST OF FIGURES
FIGURE 1 RESEARCH APPLICATIONS
FIGURE 2 GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET: BY MATERIAL
FIGURE 3 GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET: BY APPLICATIONS
FIGURE 4 GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET: BY VEHICLE TYPE
FIGURE 5 GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIALS MARKET: BY REGION
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