The global automotive
lightweight materials market is expected to witness significant growth in the
forecast period owning to its widespread applications in automotive sector. Due
to stringent rules and regulations pertaining to emissions and pollution
levels, this is expected to further increase and have and a wider application
platform. The growing demand in this market is majorly driven by increase in
the consumption of lightweight materials in the automotive industry. The Global
Automotive market is expected to grow over the forecast period owing to the growth
in the average production of vehicles and sales volume globally per year.
000Lightweight materials are characterized by high strength and lighter
weights. Lightweight materials enhance the bettering parameters such as
acceleration and handling. Automakers usually obtain more freedom, flexibility
and ease with the introduction of lightweight materials in the automotive
industry. It enables designers to design vehicles that can be electronically
operated by using batteries which are available at lowers costs and provide
higher performance
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Structural application of
these markets are estimated to have the largest growth and a market share in
terms of value. With stringent emission norms, manufacturers in the automotive
industry are required to follow regulations that lead them to use lightweight
materials that indirectly improves efficiency in their vehicles. Requirements
like better fuel efficiency, improved mileage, better fuel economy, an improved
driving experience, better performance of the vehicle in addition to a greater
power in the driving experience ae other factors that fuel the increase in
demand from consumers for lightweight materials. In addition, use of
lightweight materials reduce the weight of the vehicle that provides enhanced
security and better experience. It has also given automotive designers an
opportunity to innovate and create new designs and structures owing to the
property of these materials to be readily and easily be molded into any
desirable shape and size. They therefore provide an added advantage of
innovation to automotive manufacturers.
Lightweight materials have a
widespread presence in the aerospace industry. Plastics, carbon fibers and
metals are used to manufacture and design the structural, interior and exterior
parts of a vehicle The fuel consumption of a vehicle is drastically reduced by
making the vehicle as light as possible. If the weight of a vehicle is reduced
by 10% the fuel consumption can be reduced by about 5% to 7% owing to the
reduced effort required to move and accelerate the vehicle. Lighter the weight
of the vehicle, lesser would be the fuel consumption. Asia Pacific is estimated to be the largest
market in automotive lightweight materials industry in terms of volume. Major
contributors of lightweight materials in Asia are China, India and Japan. Due
to a reasonable amount of demand for vehicles, by volume, in these regions,
there are several lightweight manufacturers and suppliers who are readily
available to contribute to the market that can provide them with better
profits.
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