Automotive Lightweight Material Market Growth, Size, Trends, Revenue, Share and Future Outlook
Automotive Lightweight Material Market Size- By Material Type, By Propulsion Type, By Component, By Application, By Vehicle Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2023 | Report ID: AMIN23177 | Pages: 1 - 218 | Formats*: |
| Category : Automotive & Transportation | |||
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 |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| 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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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 report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Automotive Lightweight Material Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Automotive Lightweight Material Market Manufacturing Base Distribution, Sales Area, Product Type6.2. 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, 2023-20337.2. Composite7.2.1. 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 Composites7.3. Elastomer7.4. Metal7.4.1. Aluminum7.4.2. High Strength Steel (HSS)7.4.3. Magnesium & Titanium7.5. Plastic7.6. 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, 2023-20338.2. Electric Powered8.3. IC Engine Powered8.4. Others
9. Global Automotive Lightweight Material Market, By Component (USD Million)
9.1. Global Automotive Lightweight Material Market Value Share and Forecast, By Component, 2023-20339.2. Bumper & Fender9.3. Door and Seat9.4. Engine & Exhaust9.5. Frame9.6. Fuel Tank9.7. Hood & Trunk Lid9.8. Instrument Panel9.9. Seats9.10. Transmission9.11. Wheel9.12. Others
10. Global Automotive Lightweight Material Market, By Application (USD Million)
10.1. Global Automotive Lightweight Material Market Value Share and Forecast, By Application, 2023-203310.2. Body in White10.3. Chassis and Suspension10.4. Closures10.5. Exterior10.6. Interiors10.7. Powertrain10.8. Structural10.9. 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, 2023-203311.2. 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-Pacific18.3.1. Australia18.3.2. China18.3.3. India18.3.4. Japan18.3.5. South Korea18.3.6. Rest of Asia-Pacific18.4. Europe18.4.1. France18.4.2. Germany18.4.3. Italy18.4.4. Spain18.4.5. United Kingdom18.4.6. Rest of Europe18.5. Middle East and Africa18.5.1. Kingdom of Saudi Arabia18.5.2. United Arab Emirates18.5.3. Rest of Middle East & Africa18.6. North America18.6.1. Canada18.6.2. Mexico18.6.3. United States18.7. Latin America18.7.1. Argentina18.7.2. Brazil18.7.3. Rest of Latin America
19. Company Profile
19.1. Alcoa Corporation19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments19.2. ArcelorMittal19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments19.3. BASF SE19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments19.4. Bayer AG19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments19.5. Covestro AG19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments19.6. Grupo Antolin19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments19.7. LyondellBasell19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments19.8. Magna International19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments19.9. Novelis19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments19.10. Owens Corning Corporation19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments19.11. PPG Industries19.11.1. Company details19.11.2. Financial outlook19.11.3. Product summary19.11.4. Recent developments19.12. Saudi Arabia Basic Industries Corporation (SABIC)19.12.1. Company details19.12.2. Financial outlook19.12.3. Product summary19.12.4. Recent developments19.13. Toray Industries19.13.1. Company details19.13.2. Financial outlook19.13.3. Product summary19.13.4. Recent developments19.14. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Automotive Lightweight Material Market is projected to reach USD 168.19 billion by 2033, growing at a CAGR of 7.9% during the forecast period.
Automotive Lightweight Material Market grew in market size from 2023. The Market is expected to reach USD 168.19 billion by 2033, at a CAGR of 7.9% during the forecast period.
Automotive Lightweight Material Market CAGR of 6.41% during the forecast period.
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Automotive Lightweight Material Market size is USD 168.19 billion from 2023 to 2033.
Automotive Lightweight Material Market Segment is Covered By Material Type, By Propulsion Type, By Component, By Application, By Vehicle Type
The North America region is anticipated to have the highest market share in Automotive Lightweight Material Market.
The key players in the market include 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
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.
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