Selbyville, Delaware, Dec. 10, 2019 (GLOBE NEWSWIRE) --
According to latest report “Automotive Lightweight Materials Market by Material (Metals & Alloys [High Strength Steel, Aluminum, Magnesium], Plastics [Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polycarbonate], Composites [Glass Fiber, Carbon Fiber]), Application (Body In White, Chassis, Powertrain, Interior, Exterior), Manufacturing Process (Casting, Extrusion, Rolling, Forging, Forming, Open Molding, Closed Molding), Vehicle Type (Internal Combustion Engine Vehicle, Battery Electric Vehicle, Hybrid Electric Vehicle), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of automotive lightweight materials will cross $310 billion by 2026. Rising demand for reducing greenhouse gas emissions along with surging production of electric vehicles will boost the industry outlook.
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Some major findings of the automotive lightweight materials market report include:
- Significant improvement in vehicle energy efficiency and CO2 emission targets will require potential weight reduction with efficient use of lightweight materials.
- Vehicle electrification is providing prominent growth opportunities for lightweighting the vehicle structures.
- Improved material formulations are playing a vital role in developing efficient battery and thermal management systems in electric vehicles.
- Surging penetration of extruded and rolled aluminum components is majorly contributing towards low emission mobility and improved vehicle performance.
- Major OEM’s are undertaking collaborative initiatives in developing advanced material compositions to reach 2021 and 2025 emission targets.
Increasing requirements for complying with fuel emissions norms to improve fuel efficiency is providing potential opportunities for vehicle weight reduction. According to U.S. Corporate Average Fuel Economy (CAFE) regulations, vehicle manufacturers are required to achieve higher economy of 54.5 mpg by 2025. Material substitution in vehicles is playing a vital role in boosting the fuel economy and reducing the secondary weight in load bearing structures. Increasing utilization of lightweight materials enables potential weight reductions and improvement in driving performance. However, risks pertaining with adoption of new materials in conjunction with supply chain volatility shall restrain the automotive lightweight materials market demand over the projected timeframe.
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Lightweight materials including Ultra-High Strength Steel (UHSS) and Advanced High Strength Steel (AHSS) are gaining a higher visibility owing to their enhanced performance in crash energy management, lower manufacturing cost and superior strength. Moreover, higher bake hardening and work hardening capabilities are allowing improved formability and opportunities for optimization of complex part geometries. Significant improvements in material properties is achieved through multimaterial optimization and technologically advanced manufacturing processes. The performance characteristics of new lightweight materials are accurately monitored through new simulation techniques, further reducing the physical prototyping costs.
Vehicle manufacturers are introducing alternative fuel powertrains for complying with fuel emission standards. Lightweighting of electric vehicles majorly contributes toward improving their performance and driving range per charge. Proliferating production of electric vehicles mainly in China and Japan will propel the regional product demand over the forecast timeframe. Moreover, promotional government policies and incentive programs are accelerating the penetration electric vehicles. Multi-material design approaches incorporating advanced plastics and composites will augment the automotive lightweight materials market revenue over the coming years.
Browse key industry insights spread across 252 pages with 317 market data tables, 23 figures & charts from the report, “Automotive Lightweight Materials Market Size 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-lightweight-materials-market
Table of Contents (ToC) of the report:
Chapter 3. Automotive Lightweight Materials Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Raw material supplier
3.3.2. Manufacturers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Technology landscape
3.4.1. Thin wall aluminum die casting
3.4.2. Warm forming
3.5. Automotive production, by region, 2013 - 2018
3.5.1. North America
3.5.2. Europe
3.5.3. APAC
3.5.4. LATAM
3.5.5. MEA
3.6. Pricing analysis
3.6.1. Cost structure analysis
3.7. Regulatory landscape
3.8. Industry impact force
3.8.1. Growth drivers, by region
3.8.2. Industry pitfalls & challenges
3.9. Materials used for key vehicle components (Current & future)
3.10. Key OEM strategies for vehicle weight reduction
3.11. Lightweighting outlook for electric vehicles
3.12. Innovation and sustainability
3.13. Growth potential analysis
3.14. Porter's analysis
3.15. Competitive landscape, 2018
3.15.1. Company market share analysis, 2018
3.15.2. Key stake holders
3.15.3. Strategy dashboard
3.16. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/automotive-lightweight-materials-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.