DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Automotive Lightweight Materials Market by Material, Application, Component, Vehicle Type - Global Forecast to 2021" report to their offering.
The automotive lightweight material market is projected to grow at a CAGR of 13.06% during the forecast period and reach a market size of $110.42 billion in 2021.
The major drivers of the market are the stringent emission and fuel economy regulations along with the growth in sales of electric vehicles. The growth in sales of electric vehicles in developing countries is a huge opportunity for the manufacturers of automotive lightweight materials. The factor which restrains the market is the cost of the lightweight materials and the availability of raw materials.
The plastic segment is estimated to grow during the forecast period. The market for polycarbonates, ABS and polyurethanes, is estimated to grow at the fastest rate in terms of value over the next five years. This is owing to the increased use of plastic in automobile interiors, such as the dashboard, seats, interior roofs and the instrument panel as well as part of the exteriors like fenders.
Plug-in hybrid vehicle is the largest growing vehicle type in the EV segment. The use of lightweight materials is the highest in electric vehicles, as these use batteries for propulsion and any reduction I weight would directly improve their range. Reduction of CO2 emissions at fleet level contributes to higher sales of battery electric vehicles and plug-in hybrid vehicles. The major challenge is to increase the range of such vehicles. Hence, the trend of light-weighting is more applicable in this case because it would reduce the weight of the vehicle and increase their range.
- Alcoa Inc., (U.S.)
- ArcelorMittal S.A. (Luxembourg)
- BASF SE (Germany)
- Covestro AG (Germany)
- Lyondellbasell N.V. (U.S.)
- Novelis .Inc.,(U.S.)
- Owens Corning (U.S.)
- PPG Industries, Inc (U.S.)
- ThyssenKrupp AG (Germany)
Toray Industries (Japan)
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Lightweight Materials Market, By Material Type
7 Lightweight Materials Market, By Material Application
8 Lightweight Materials Market, By Components
9 Lightweight Materials Market, By Electric Vehicles
10 Automotive Lightweight Materials Market, By Region
11 Competitive Landscape
12 Company Profiles
13 Key Innovators
For more information about this report visit http://www.researchandmarkets.com/research/3v5wbs/automotive