The automotive lightweight material is focused on addressing the need for increasing fuel efficiency and reducing the greenhouse carbon emission. The only way to reduce the emission and increase the efficiency is by reducing the total weight of vehicle by employing lightweight materials. Without compensating on the vehicle rigidity, automakers are identifying materials to replace steel such as composites, aluminum, foams and magnesium. Employing the lightweight material is the most cost efficient method to reduce the vehicle weight. By eliminating 10% of the vehicle weight, approximately 7% efficiency can be increased and reduced 20 kg of carbon emission.
The automotive material market is currently in the growth stage and it is expected to witness high growth in coming years. Companies are actively investing in R&D for identifying perfectly material without compensating the power and strength ratio of the vehicle.
Government regulations on fuel efficiency and emission control is the major driver for automotive lightweight material. Increasing gasoline price and production of the vehicles is the other driver boosting the automotive lightweight material market.
High cost is the single barrier causing hindrance in the growth of light weight material market.
The report comprises of companies operating in the global lightweight material market such as BASF, ThyssenKrupp AG, Covestro AG, ArcelorMittal, Toray Industries, Novalis, Henkel Corporation, Hexcel Corporation and others. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
Scope of the Report:
The automotive lightweight material market is mainly divided as per the technology capabilities and has been segmented as follows:
Based on Technology Type:
- High Strength Steel
- Glass Reinforced Composite
- Carbon Fiber
Based on Applications:
- Drop Glass
- Exterior Trims
- Crash Structure
- Bumper Systems
- Instrument Panel
Based on Region:
- Rest of the World
Recent Industry Trends:
Significant stress from the government for reducing the greenhouse emission and improving the fuel efficiency in the transportation sector, component manufacturers, assemblers and automakers are heavily investing in the R&D of lightweight material and its commercialization. OEM’s are mainly focusing on the chassis and complete vehicle structure to be made from the lightweight material. Everyone in the value chain of auto making is working towards the common goal of employing lightweight material and increasing its market penetration.
- Insight 1: The strength and the weight ratio suggest that aluminum will be witnessing the higher growth in light weight material market.
- Insight 2: Chassis and suspension system contributes to more than 25% of the total vehicle weight. Thus focusing on these two attributes will help to reduce the total weight of the vehicle.
- Insight 3: The interior segment of automotive is also gaining traction from lightweight material. OEM’s are focused to reduce the weight of the automobile interiors.