Global Automotive Lightweight Materials Market Report 2021: Market is Expected to Reach $133.01 Billion in 2025 at a CAGR of 11.2% - Long-term Forecast to 2030 - ResearchAndMarkets.com

The "Automotive Lightweight Materials Global Market Report 2021: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

The global automotive lightweight material market is expected to grow from $82.53 billion in 2020 to $86.92 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The market is expected to reach $133.01 billion in 2025 at a CAGR of 11.2%.

Major players in the automotive lightweight material market are BASF SE, Covestro AG, LyondellBasell Industries Holdings B.V., Toray Industries Inc., ArcelorMittal, ThyssenKrupp AG, Novelis Inc., Alcoa Corporation, Stratasys Ltd., Owens Corning, Tata Steel, and POSCO.

The automotive lightweight material market consists of sales of automotive lightweight materials by entities (organizations, sole traders, and partnerships) that are engaged in the production of different lightweight materials for the manufacturing of automotive components such as carbon fiber, aluminum, and magnesium among others.

Automotive lightweight materials are used in vehicles to decrease weight, increase speed, and improve fuel economy. Due to advantages such as reduced material consumption, increased strength, low degradation risk, and improved handling, these lightweight materials are an excellent substitute for bulky conventional materials previously used to build vehicle frames.

Europe was the largest region in the automotive lightweight material market in 2020. North America was the second-largest market in the automotive lightweight material market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

New product developments and compositions are gaining significant popularity in the automotive lightweight material market. Key players in the automotive lightweight materials market are focusing on developing new and innovative products to the market using lightweight materials such as carbon fiber, aluminum and replacing generic materials.

The surge production of electric vehicles is expected to propel the growth of the automotive lightweight material market over the coming years. Electric vehicles are automobiles that are powered entirely or partially by electricity. Electric vehicles have minimal operating expenses since they have fewer moving parts to maintain, and they are also very eco-friendly because they consume little or no fossil fuels (petrol or diesel).

Lightweight materials such as carbon-fiber-reinforced plastic are used in modern electric vehicles, allowing them to run purely on electricity and avoid being classified as hybrids. Therefore, the increasing production of electric vehicles drives the growth of the automotive lightweight material market.

Key Topics Covered:

1. Executive Summary

2. Automotive Lightweight Material Market Characteristics

3. Automotive Lightweight Material Market Trends and Strategies

4. Impact Of COVID-19 On Automotive Lightweight Material

5. Automotive Lightweight Material Market Size and Growth

5.1. Global Automotive Lightweight Material Historic Market, 2015-2020, $ Billion

5.1.1. Drivers Of the Market

5.1.2. Restraints On the Market

5.2. Global Automotive Lightweight Material Forecast Market, 2020-2025F, 2030F, $ Billion

5.2.1. Drivers Of the Market

5.2.2. Restraints On the Market

6. Automotive Lightweight Material Market Segmentation

6.1. Global Automotive Lightweight Material Market, Segmentation by Material Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• Metals
• Composites
• Plastics
• Elastomer

6.2. Global Automotive Lightweight Material Market, Segmentation by Vehicle Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

6.3. Global Automotive Lightweight Material Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

• Body In White
• Chassis and Suspension
• Powertrain
• Closures
• Interiors
• Others

7. Automotive Lightweight Material Market Regional and Country Analysis

7.1. Global Automotive Lightweight Material Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

7.2. Global Automotive Lightweight Material Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

Companies Mentioned

• BASF SE
• Covestro AG
• LyondellBasell Industries Holdings B.V.
• Toray Industries Inc.
• ArcelorMittal
• ThyssenKrupp AG
• Novelis Inc.
• Alcoa Corporation
• Stratasys Ltd.
• Owens Corning
• Tata Steel
• POSCO

For more information about this report visit https://www.researchandmarkets.com/r/eqxaxt

View source version on businesswire.com: https://www.businesswire.com/news/home/20220121005192/en/