Automotive Lightweight Materials Market Reveals Positive growth Through 2020-2026

Automotive lightweight materials Market surrounding massive carbon emissions from vehicles, engineers across the world have been strictly focused. The weight of a vehicle is directly co-related to carbon emissions and fuel efficiency, and apparently a reduction of 10% in the weight of the vehicle can reduce 6-8% of the fuel consumption.
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The automotive industry aims to enhance fuel economy and meet the progressing demands of the electrified vehicle platforms. Lightweight materials are opted for several applications such as chassis, power train, under the hood components, body, and interior. Automakers are focused on developing a multi-material vehicle that could incorporate carbon fiber composites, magnesium, aluminum, high-steel strength, titanium along with several types of plastic, rubber and foam.
These lightweight materials can reduce vehicle weight and chassis by 50%, thereby reducing the fuel consumption of the vehicle. According to the U.S. DOE, the usage of lightweight components as well as the highly efficient engines aided by advanced materials in one-quarter of the fleet in the U.S. can save over 5 billion gallons of fuel per year by 2030.
It has been projected that global automotive lightweight materials market size will reach US$310 billion by 2026. Strict regulations associated with carbon emissions have increasingly compelled manufacturers to incorporate lightweight components into vehicles. Industrial Smart Strategy of the UK has insisted that OEMs must reduce their model’s average carbon emissions to 95g/km in 2020 and nearly 75g by 2025.
Growing production of electric cars 
Lightweight materials are considered important for electric vehicles, hybrid electric and plug-in hybrid electric as the materials are capable of offsetting the weight of power systems like electric motors and batteries while enhancing their efficiency and raising their all-electric range.
According to BNEF, electric vehicle will be accounting for 55% of the global light-vehicle sales by 2040, observing that the sale for electric vehicles in 2018 had gone up to 1.6 million. OPEC supported the predictions in its World of Oil Outlook 2040 wherein the researchers noted strong trends in the growth of composites like carbon fiber that could replace traditional materials based on metal.
Extensive adoption of aluminum parts
Aluminum is widely adopted by automotive manufacturers as they have been considered as a desirable approach for weight saving. It has majorly helped in cutting emissions, enhancing safety and boosting fuel economy. Aluminum has the capability to cast into components that are leak-proof and also have well-defined inner passage for airflow and water.
The material also has good thermal conductivity and can resist mechanical forces at temperatures that are near 145 degrees Celsius. Aluminum alloy parts are relatively easier to replace, adapt to repairs, production and processing, resistant to rusting and can be easily recycled.
Various companies like BMW, Audi and Tesla along with other Chinese carmakers such as JAC, BAIC and BYD are working on weight reduction. SAE-China had released an energy-efficiency and EV roadmap in 2016, that suggested that the average weight of the car is expected to be reduced by nearly 20% by 2025.
These cars will have used an average of 250kg of aluminum alloy per car and carbon fiber amounting up to 2% of the car weight, propelling automotive lightweight materials market trends in the coming years.
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