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In 2022, the market for automotive lightweight materials was estimated to be worth USD 52.18 billion. During the forecast period (2023–30), the automotive lightweight material market industry is expected to increase from USD 56.609 billion in 2023 to USD 97.259 billion, registering a compound yearly growth rate (CAGR) of 9.00%. The market's growth drivers are stringent pollution and fuel efficiency rules, as well as rising government programs to reduce weight. The laws governing emissions and fuel efficiency for vehicles have been tightened in a number of nations throughout the world. As a result of these criteria as the primary market driver promoting market growth, original equipment manufacturers (OEMs) in the automotive industry have been forced to use more lightweight materials, such as composites, lightweight metals, and polymers.
To produce diverse components and parts, the automobile industry has traditionally used a number of production techniques. For the production of panels and body parts, hot-forming and cold-forming manufacturing procedures have traditionally been employed. Conventional materials like some grades of steel, aluminum, and other comparable metals were the only ones that could be produced using these techniques. Additionally, some production techniques weren't appropriate for creating intricate panel forms and decorations. Modern production techniques are replacing traditional manufacturing processes as demand for vehicles with cutting-edge designs and features rises. These technologies include microinjection molding, resin transfer molding, additive manufacturing, and others. The capacity to produce new materials that are comparatively light in weight and stronger was one of the main benefits of using such advanced production techniques.
These cutting-edge manufacturing techniques are also built to function with little to no material waste. For instance, the additive manufacturing process wastes extremely little material. In most traditional production techniques, it is a subtractive process, leading to comparatively higher material waste. With one of the highest weight-to-strength ratios, carbon fiber material has grown significantly as a result of this production process. Other lightweight materials, such as various grades of plastic, composites, and metals, are also compatible with the method. For instance, the 2020 BMW (Germany) i8 Roadster sports car serves as an example of how additive manufacturing might be used.
Automotive lightweighting has been substantially facilitated by mixed material design (MMD), which involves creating parts and components from two different materials. However, it might be challenging to fully utilize the benefits of the MMD due to the challenges involved in welding or combining two different materials. This is mostly due to the physical characteristics, densities, and welding temperatures of various materials. The strength and structural integrity of the pieces depend on the effective connecting of these two materials. If the connection of any crucial components fails, it poses a serious safety risk. For instance, there is a significant variation in most of the properties between steel and aluminum, which might have negative consequences like corrosion and thermal expansion. Many OEMs utilize specialized adhesives and rivets to link two different metals together to get around this problem. The development of appropriate welding and other stronger connecting techniques is underway.
Many automotive applications could benefit substantially from the full integration of MMD. A comparably stronger material can be utilized to strengthen the inner shell of the vehicle, such as the door and other panel skins, which can be constructed from the lightest materials. This can significantly lower the weight without affecting the application's structural integrity. Along with reducing the amount of cross members in the monocoque chassis, this can help with the new design of the crumble zones with MMD in the same structure. By adopting specific materials with better noise absorption qualities, this MMD can also be used to regulate the NVH levels within the car.
Materials with a high strength-to-weight ratio, outstanding corrosion resistance, and significant design flexibility are referred to as automotive lightweight materials and are used in automotive systems and components. The main factors that are anticipated to influence automakers to concentrate on material redesigning in the coming years are the need for weight reduction and higher fuel efficiency, adherence to environmental regulations, and changing consumer sentiments toward mobility solutions as consumers demand high-strength materials to achieve the high-end operational performance. Automobile makers have employed plastics, polymer composites, steel, magnesium, and aluminum to meet the evolving demands of the automobile industry. Because they have a wide range of uses in the construction of automobiles and have increased strength and safety, composites are becoming more popular.
The market's CAGR is driven by the automotive industry's quick adoption of cutting-edge technology. Due to the surge in the production of electric cars, it is projected that the market for automotive lightweight materials would grow over the coming years. Electric automobiles are vehicles that are powered entirely or in part by electricity. Since they use little to no fossil fuels (petrol or diesel), have fewer moving parts to maintain, and have low operating expenses, electric automobiles are very eco-friendly. Modern electric vehicles can run solely on electricity without being classified as hybrids since they are composed of lightweight materials like carbon-fiber reinforced plastic. For instance, the Economist Intelligence Unit (EIU) projects that sales of electric vehicles would increase from 2.5 million in 2020 to 3.4 million in 2021.
Report Coverage
Global Automotive Lightweight Materials research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Lightweight Materials report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Lightweight Materials competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Lightweight Materials market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Lightweight Materials market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Lightweight Materials market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan), ArcelorMittal (Germany), Thyssenkrupp AG (Germany), Novelis, Inc. (US), Alcoa Corporation (US), Owens Corning (US), and Stratasys Ltd. (US), Lyondellbassel Industries Holdings B.V., HINDALCO INDUSTRIES LIMITED.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive Lightweight Materials market based on the below-mentioned segments:
Global Automotive Lightweight Materials Market, By Material
Metal
Rubber
Plastic
Others
Global Automotive Lightweight Materials market, By Application
Interior
Exterior
Structural
Others
Global Automotive Lightweight Materials Market, By Vehicle Type
Heavy Commercial Vehicles
Light Commercial Vehicles
Passenger Vehicles
Others
Global Automotive Lightweight Materials market, Regional Analysis
To produce diverse components and parts, the automobile industry has traditionally used a number of production techniques. For the production of panels and body parts, hot-forming and cold-forming manufacturing procedures have traditionally been employed. Conventional materials like some grades of steel, aluminum, and other comparable metals were the only ones that could be produced using these techniques. Additionally, some production techniques weren't appropriate for creating intricate panel forms and decorations. Modern production techniques are replacing traditional manufacturing processes as demand for vehicles with cutting-edge designs and features rises. These technologies include microinjection molding, resin transfer molding, additive manufacturing, and others. The capacity to produce new materials that are comparatively light in weight and stronger was one of the main benefits of using such advanced production techniques.
These cutting-edge manufacturing techniques are also built to function with little to no material waste. For instance, the additive manufacturing process wastes extremely little material. In most traditional production techniques, it is a subtractive process, leading to comparatively higher material waste. With one of the highest weight-to-strength ratios, carbon fiber material has grown significantly as a result of this production process. Other lightweight materials, such as various grades of plastic, composites, and metals, are also compatible with the method. For instance, the 2020 BMW (Germany) i8 Roadster sports car serves as an example of how additive manufacturing might be used.
Automotive lightweighting has been substantially facilitated by mixed material design (MMD), which involves creating parts and components from two different materials. However, it might be challenging to fully utilize the benefits of the MMD due to the challenges involved in welding or combining two different materials. This is mostly due to the physical characteristics, densities, and welding temperatures of various materials. The strength and structural integrity of the pieces depend on the effective connecting of these two materials. If the connection of any crucial components fails, it poses a serious safety risk. For instance, there is a significant variation in most of the properties between steel and aluminum, which might have negative consequences like corrosion and thermal expansion. Many OEMs utilize specialized adhesives and rivets to link two different metals together to get around this problem. The development of appropriate welding and other stronger connecting techniques is underway.
Many automotive applications could benefit substantially from the full integration of MMD. A comparably stronger material can be utilized to strengthen the inner shell of the vehicle, such as the door and other panel skins, which can be constructed from the lightest materials. This can significantly lower the weight without affecting the application's structural integrity. Along with reducing the amount of cross members in the monocoque chassis, this can help with the new design of the crumble zones with MMD in the same structure. By adopting specific materials with better noise absorption qualities, this MMD can also be used to regulate the NVH levels within the car.
Materials with a high strength-to-weight ratio, outstanding corrosion resistance, and significant design flexibility are referred to as automotive lightweight materials and are used in automotive systems and components. The main factors that are anticipated to influence automakers to concentrate on material redesigning in the coming years are the need for weight reduction and higher fuel efficiency, adherence to environmental regulations, and changing consumer sentiments toward mobility solutions as consumers demand high-strength materials to achieve the high-end operational performance. Automobile makers have employed plastics, polymer composites, steel, magnesium, and aluminum to meet the evolving demands of the automobile industry. Because they have a wide range of uses in the construction of automobiles and have increased strength and safety, composites are becoming more popular.
The market's CAGR is driven by the automotive industry's quick adoption of cutting-edge technology. Due to the surge in the production of electric cars, it is projected that the market for automotive lightweight materials would grow over the coming years. Electric automobiles are vehicles that are powered entirely or in part by electricity. Since they use little to no fossil fuels (petrol or diesel), have fewer moving parts to maintain, and have low operating expenses, electric automobiles are very eco-friendly. Modern electric vehicles can run solely on electricity without being classified as hybrids since they are composed of lightweight materials like carbon-fiber reinforced plastic. For instance, the Economist Intelligence Unit (EIU) projects that sales of electric vehicles would increase from 2.5 million in 2020 to 3.4 million in 2021.
Report Coverage
Global Automotive Lightweight Materials research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Lightweight Materials report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Lightweight Materials competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Lightweight Materials market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan), ArcelorMittal (Germany), Thyssenkrupp AG (Germany), Novelis, Inc. (US), Alcoa Corporation (US), Owens Corning (US), and Stratasys Ltd. (US), Lyondellbassel Industries Holdings B.V., HINDALCO INDUSTRIES LIMITED. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Automotive Lightweight Materials Market from 2021 to 2030.
- Market Forecast for Automotive Lightweight Materials Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Automotive Lightweight Materials competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Automotive Lightweight Materials
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Lightweight Materials market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Lightweight Materials market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan), ArcelorMittal (Germany), Thyssenkrupp AG (Germany), Novelis, Inc. (US), Alcoa Corporation (US), Owens Corning (US), and Stratasys Ltd. (US), Lyondellbassel Industries Holdings B.V., HINDALCO INDUSTRIES LIMITED.
Primary Target Market
- Market Players of Automotive Lightweight Materials
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive Lightweight Materials market based on the below-mentioned segments:
Global Automotive Lightweight Materials Market, By Material
Metal
Rubber
Plastic
Others
Global Automotive Lightweight Materials market, By Application
Interior
Exterior
Structural
Others
Global Automotive Lightweight Materials Market, By Vehicle Type
Heavy Commercial Vehicles
Light Commercial Vehicles
Passenger Vehicles
Others
Global Automotive Lightweight Materials market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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