The global automotive lightweight material market was estimated at $77.1 billion in 2015, and it is expected to grow at a CAGR of 14.0% during 2016 - 2022. The factors driving the growth of the global market include growing enforcement by government for environmental regulations, increasing number of passenger vehicles and advancement in technology, along with change in material used for manufacturing.
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Geographically, the North American market held the largest share in the global automotive lightweight material market in 2015. The major reasons behind the growth of the market in the region include the regulatory pressure by government to reduce CO2 emission, and strict fuel economy majors being adopted throughout North America.
Asia-Pacific is anticipated to be the fastest growing market for automotive lightweight industry. The production volume for passenger car and LCV segment in Asia-Pacific accounted for more than 50% share of the global production.
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The key companies operating in the global automotive lightweight material market include Arcelor Mittal S.A., Owens Corning, PPG Industries Inc., ThyssenKrupp AG, Toray Industries, Inc., Novelis Inc., Alcoa Inc., LyondellBasell Industries N.V., Hexcel Corporation, and Saudi Basic Industries Corporation.
GLOBAL AUTOMOTIVE LIGHTWEIGHT MATERIAL MARKET SEGMENTATION
By Material Type
- Metal
- Aluminium
- High Strength Steel (HSS)
- Others
- Plastic
- Composite
- Structural
- Powertrain
- Interior
- Exterior
- Others
By Region
- North America
- U.S.
- Canada
- Rest of N.A.
- Europe
- The U.K.
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of APAC
- Rest of the World
- Brazil
- Others
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