The automotive lightweight materials market is constantly witnessing new developments and innovations, with stricter regulatory standards regarding vehicular emissions. Vehicular light-weighting is directly linked with improved performance and lower carbon emissions. It helps ensure that automakers’ fleet averages are in line with the required industry standards and allows drivers save taxes.

Steel will continue to be the material of choice in the automaking industry, its demand growing at a CAGR of about 8.5% through 2026. Newer, more powerful varieties of steel such as high strength steel, advanced high strength steel, and ultra-high strength steel are helping in weight reduction by lowering the specific density and reducing sheet gages, enabling considerable emission reduction.

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With regards to manufacturing process, the extrusion process segment is expected to record around 10% CAGR over the forecast period. The process helps manufacturers to assemble metal where it is required, introduce features in a single part and eliminates the need for the assembly of multiple parts composed of alternative materials. Aluminum extraction is costlier than steel extrusion, but it makes the automobile lighter in weight and adds features which are not possible with steel parts.

Based on vehicle type, battery electric vehicles segment could witness impressive growth on account of mounting need to decrease fuel emissions and adhere to stringent air quality standards. Tax exemption for battery electric vehicles along with rising income levels could boost segment growth over time.

On a regional standpoint, Europe automotive lightweight materials market is estimated to hold around 25% share owing to estimated steady recovery of automobile production in Q1 and Q2 of 2021, post the impact of the COVID-19 pandemic. Implementation of strict Euro 6 norms is expected to lessen CO2, nitrogen oxide and carbon monoxide emissions, which could force automakers to develop more fuel efficient vehicles. Additionally, increasing R&D expenditure to create efficient automotive lightweight materials could propel industry expansion.

The global automotive lightweight materials market consists of firms such as BASF SE, LyondellBasell Industries Holding B.V., LANXESS Deutschland GmbH, Owens Coming, POSCO, ArcelorMittal, Aleris Corporation, SGL Carbon, AK Steel Corporation, Stratasys Ltd., WHB Brasil, and Tata Steel. These companies are adopting different business strategies such as new product development and geographical expansions in order to enhance their market reach.

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Partial Chapter of the Table of Content

Chapter 6   Automotive Lightweight Materials Market, By Manufacturing Process

6.1    Global automotive lightweight materials market share by manufacturing process, 2019 & 2026

6.2    Casting

6.2.1    Global market estimates and forecasts, 2016 – 2026

6.2.2    Market estimates and forecast, by region, 2016 – 2026

6.3    Extrusion

6.3.1    Global market estimates and forecasts, 2016 – 2026

6.3.2    Market estimates and forecast, by region, 2016 – 2026

6.4    Forging

6.4.1    Global market estimates and forecasts, 2016 – 2026

6.4.2    Market estimates and forecast, by region, 2016 – 2026

6.5    Forming

6.5.1    Global market estimates and forecasts, 2016 – 2026

6.5.2    Automotive Lightweight Materials Market estimates and forecast, by region, 2016 – 2026

6.6    Open molding

6.6.1    Global market estimates and forecasts, 2016 – 2026

6.6.2    Market estimates and forecast, by region, 2016 – 2026

6.7    Closed molding

6.7.1    Global market estimates and forecasts, 2016 – 2026

6.7.2    Market estimates and forecast, by region, 2016 – 2026

Chapter 7   Automotive Lightweight Materials Market, By Vehicle

7.1    Global market share by vehicle, 2019 & 2026

7.2    Internal combustion engine vehicles (ICEV)

7.2.1    Global market estimates and forecasts, 2016 – 2026

7.2.2    Market estimates and forecast, by region, 2016 – 2026

7.3    BEV

7.3.1    Global market estimates and forecasts, 2016 – 2026

7.3.2    Automotive Lightweight Materials Market estimates and forecast, by region, 2016 – 2026

7.4    HEV

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