Automotive Lightweight Materials Market By Type (Metals (Aluminium, High Strength Steel (HSS), Other Metals), Plastics, Composites(Carbon Fiber Reinforced Plastic (CFRP), Glass Fiber Reinforced Polymer (GFRP))), By Application (Structural, Powertrain, Interior, Exterior, Others Applications), Industry Trends, Estimation & Forecast, 2023-2030

Market Overview

Lightweight materials are mixture of metal alloys and composites. They are used to reduce the weight of aircrafts, automotive, and windmills without affecting the strength and proficiency of the structure. They have a high strength to weight ratio, greater design flexibility, and exceptional corrosion resistance. Their efficiency depends on the mixture of alloys and composites used. Where, metal alloys comprise lightweight & high strength steel, aluminum alloys, titanium alloys, and magnesium alloys. These alloys are easy to shape by welding, machining and forming. Automotive Lightweight Materials helps automakers to reduce vehicle weight, improve performance and emissions without compromising on safety.

The Automotive Lightweight Materials market was valued at 76.1 billion US$ in 2022 and is projected to reach 138.8 billion US$ by 2030, at a CAGR of 7.8% during the forecast period.

Automotive Lightweight Materials Market Revenue by, 2022-2030

Market Dynamics

Increase in automotive regulatory requirements is one of the key factor boosting the market growth. The number of regulations regarding the reduction of emission of carbon dioxide from the automobiles is on the rise. The It is estimated that on achieving these targets, there will be a saving of $1.6 trillion of gasoline, reduction in oil consumption by 15.2 billion barrels and reduction of carbon dioxide emission by 7.5 billion metric tons by 2027. Such regulations for carbon dioxide reduction and an increase in fuel efficiency have led to the growth of lightweight materials to a greater extent. With 10% reduction in automotive mass, there is an increase of 6% in fuel efficiency. The US Environmental Protection Agency has greenhouse gas emission standards under the Clean Air Act and sets the standard for tailpipe emissions for all passenger cars as well as SUVs. Moreover, Growing demand for fuel-efficient and green vehicles, Introduction of innovative lightweight materials are key driving factors of the market. However, the fluctuation of raw material prices and high cost of automotive lightweight materials might hamper the market growth. Raw materials are cost-driven in the automotive industry and include 47.56% of a vehicle cost. The raw materials, such as ores of lightweight metals, crude oil, and advanced composites, are highly fluctuating due to the utilization scenarios and global production. Price fluctuations make the global automotive lightweight materials market unpredictable and thus, become a deterrent for the growth of the lightweight materials for the automotive industry. Additionally, Innovation and focus on the use of lightweight materials in new energy vehicles and Increased use of electronics in automobiles would provide lucrative opportunities for the market in the coming years.

Market Segmentation

Global Automotive Lightweight Materials market is mainly classified based on Type, Application. Type is further segmented into Metals (Aluminium, High Strength Steel (HSS), Other Metals), Plastics, Composites(Carbon Fiber Reinforced Plastic (CFRP), Glass Fiber Reinforced Polymer (GFRP)).Metal is dominating the global Automotive Lightweight Materials Market by type. Many Original equipment manufacturers (OEMs) have started using aluminum for the entire vehicle manufacturing. The majority of aluminum production is in Asia Pacific, where China leads global production with a market share of 40% to 45%. Other aluminum producing regions are North America and Rest of the World. High Strength Steel provides the opportunity for growth of global automotive lightweight metals market because of its low cost, with exceptional strength and formability. Titanium, Magnesium and other metals are used in the automotive parts, such as powertrain, interior components, and electronics and electrical parts. Magnesium is used in cross-car beams and instrument panels. As metals have properties, such as low density, high strength, low cost, these have applications in almost all automotive components, so they have dominated the lightweight materials market. By Application, the market is further divided into Structural, Powertrain, Interior, Exterior, Others Applications.

Regional Analysis

Based on geography, the global Automotive Lightweight Materials market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

Asia-Pacific is dominating the global Automotive Lightweight Materials market, due to the surge in demand for electric and energy vehicles that are both fuel efficient and cost-effective. Countries, such as Thailand, Indonesia, and Vietnam, are evolving into major automotive producers. The presence of key global automakers, such as Toyota, Suzuki, Honda, Nissan, Suzuki, Mazda, Mitsubishi (Japan), Dongfeng, Changan, Geely (China), Tata, Mahindra and Mahindra (India), and Hyundai (South Korea), has helped Asia Pacific to be the dominant leader in the automotive as well as lightweight materials.

Competitive landscape

Major players operating in the Automotive Lightweight Materials industry include BASF SE, Covestro AG, PPG Industries, Inc., Thyssenkrupp AG, ArcelorMittal S.A., Novelis Inc., LyondellBasell Industries N.V., Alcoa Inc., Owens Corning, Toray Industries, Inc.

Formation of strategic collaborations and commercialization of products are the few business strategies adopted by the key companies, with a focus on maintaining a competitive advantage over others. The companies are focused on the expansion of business activities on a global scale. For instance, on June 21, 2018, Thyssenkrupp Steel Europe has signed contracts for a joint venture to produce lightweight and steel design wheels for the auto industry in China.

Automotive Lightweight Materials Market Segmentation

By Type
• Metals
o Aluminium
o High Strength Steel (HSS)
o Other Metals
• Plastics
• Composites
o Carbon Fiber Reinforced Plastic (CFRP)
o Glass Fiber Reinforced Polymer (GFRP)

By Application
• Structural
• Powertrain
• Interior
• Exterior
• Others Applications

By Geography

• North America
o The U.S.
o Canada
o Mexico
• Europe
o U.K
o Germany
o France
o Italy
o Rest of Europe
• Asia Pacific
o India
o China
o Japan
o South Korea
o Rest of Asia Pacific
• South America
o Brazil
o Argentina
o Rest of South America
• Middle East & Africa
o GCC Countries
o Egypt
o South Africa
o Rest of Middle East & Africa

Automotive Lightweight Materials Industry Players

• BASF SE
• Covestro AG
• PPG Industries, Inc.
• Thyssenkrupp AG
• ArcelorMittal S.A.
• Novelis Inc.
• LyondellBasell Industries N.V.
• Alcoa Inc.
• Owens Corning
• Toray Industries, Inc.

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Automotive Lightweight Materials Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Increase in automotive regulatory requirements
3.3.2. Growing demand for fuel-efficient and green vehicles
3.3.3. Introduction of innovative lightweight materials
3.4. Restraints
3.4.1. The fluctuationof raw material prices and high cost of automotive lightweight materials
3.4.2. Limitations in recyclability of automotive lightweight materials
3.5. Opportunity
3.5.1. Innovation and focus on the use of lightweight materials in new energy vehicles
3.5.2. Increased use of electronics in automobiles
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. Metals
4.2.1. Market Size & Forecast
4.2.1.1. Aluminium
4.2.1.2. High Strength Steel (HSS)
4.2.1.3. Other Metals
4.3. Plastics
4.3.1. Market Size & Forecast
4.4. Composites
4.4.1. Market Size & Forecast
4.4.1.1. Carbon Fiber Reinforced Plastic (CFRP)
4.4.1.2. Glass Fiber Reinforced Polymer (GFRP)

5. Application Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Structural
5.2.1. Market Size & Forecast
5.3. Powertrain
5.3.1. Market Size & Forecast
5.4. Interior
5.4.1. Market Size & Forecast
5.5. Exterior
5.5.1. Market Size & Forecast
5.6. Others Applications
5.6.1. Market Size & Forecast

6. Automotive Lightweight Materials Market Regional Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. North America Automotive Lightweight Materials Market
6.2.1. North America Market Size & Forecast, By Country
6.2.2. North America Market Size & Forecast, By Type
6.2.3. North America Market Size & Forecast, By Application
6.2.4. The U.S.
6.2.4.1. Market Size and Forecast
6.2.5. Canada
6.2.5.1. Market Size and Forecast
6.2.6. Mexico
6.2.6.1. Market Size and Forecast
6.3. Europe Automotive Lightweight Materials Market
6.3.1. Europe Market Size & Forecast, By Country
6.3.2. Europe Market Size & Forecast, By Type
6.3.3. Europe Market Size & Forecast, By Application
6.3.4. Germany
6.3.4.1. Market Size and Forecast
6.3.5. France
6.3.5.1. Market Size and Forecast
6.3.6. UK
6.3.6.1. Market Size and Forecast
6.3.7. Italy
6.3.7.1. Market Size and Forecast
6.3.8. Spain
6.3.8.1. Market Size and Forecast
6.3.9. Rest of Europe
6.3.9.1. Market Size and Forecast
6.4. Asia-Pacific Automotive Lightweight Materials Market
6.4.1. Asia-Pacific Market Size & Forecast, By Country
6.4.2. Asia-Pacific Market Size & Forecast, By Type
6.4.3. Asia-Pacific Market Size & Forecast, By Application
6.4.4. Japan
6.4.4.1. Market Size and Forecast
6.4.5. China
6.4.5.1. Market Size and Forecast
6.4.6. Australia
6.4.6.1. Market Size and Forecast
6.4.7. India
6.4.7.1. Market Size and Forecast
6.4.8. South Korea
6.4.8.1. Market Size and Forecast
6.4.9. Rest of Asia-Pacific
6.4.9.1. Market Size and Forecast
6.5. South America Automotive Lightweight Materials Market
6.5.1. South America Market Size & Forecast, By Country
6.5.2. South America Market Size & Forecast, By Type
6.5.3. South America Market Size & Forecast, By Application
6.5.4. Brazil
6.5.4.1. Market Size and Forecast
6.5.5. Argentina
6.5.5.1. Market Size and Forecast
6.5.6. Rest of South America
6.5.6.1. Market Size and Forecast
6.6. Middle East & Africa Automotive Lightweight Materials Market
6.6.1. Middle East & Africa Market Size & Forecast, By Country
6.6.2. Middle East & Africa Market Size & Forecast, By Type
6.6.3. Middle East & Africa Market Size & Forecast, By Application
6.6.4. GCC Countries
6.6.4.1. Market Size and Forecast
6.6.5. Egypt
6.6.5.1. Market Size and Forecast
6.6.6. South Africa
6.6.6.1. Market Size and Forecast
6.6.7. Rest of Middle East & Africa
6.6.7.1. Market Size and Forecast

7. Company Profile
7.1. BASF SE
7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
7.1.2. BASF SE Product Category, Application, and Specification
7.1.3. BASF SE Financial Performance (2016-2018)
7.1.4. Main Business/Business Overview
7.2. Covestro AG
7.3. PPG Industries, Inc.
7.4. Thyssenkrupp AG
7.5. ArcelorMittal S.A.
7.6. Novelis Inc.
7.7. LyondellBasell Industries N.V.
7.8. Alcoa Inc.
7.9. Owens Corning
7.10. Toray Industries, Inc.