28 January 2019: Automotive
Lightweight Materials Market is expected to witness significant
growth in the forecast period owning to its wide spread 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 Lightweight Materials 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. Lightweight
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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Light weight materials have a wide spread 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 light weight materials
industry in terms of volume. Major contributors of light weight 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 light weight
manufacturers and suppliers who are readily available to contribute to the
market that can provide them with better profits.
In Northern America, it was the U.S that contributed to the
largest share in the automotive light weight materials market. However,
developing economies in Asia- Pacific such as China and India are expected to
be the new revenue-generating areas for the existing market players in the
foreseeable future. Increase in population, growing economies, strict emission
rules and regulations, better awareness about eco-friendly system and
advantages of a better fuel efficient vehicle are the key drivers that have a
major effect on the automotive light weight materials marketin these regions.
Key players in the automotive lightweight materials market industry have been
identified to be Arcelor Mittal S.A. (Luxemburg), Thyssen Krupp AG (Germany),
Novelis Inc. (U.S.), Toray Industries Inc. (Japan) and Bayer AG (Germany).
These market players usually strategize by geographically expanding or by
mergers & acquisitions.
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Automotive
Lightweight Materials Market by Geographical Regions:-
•
North America
•
Europe
•
China
•
Japan
•
Southeast Asia
•
India
Automotive
Lightweight Materials Market by Applications:-
•
Passenger Cars
•
Commercial Vehicles
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