Automotive Lightweight Materials Market Size, Industry Trends, Share and Forecast 2019-2025

The global automotive lightweight materials market is estimated to grow significantly, at a CAGR of 6.9%, during the forecast period. Lightweight materials play an important role in the automotive industry. The use of these materials is likely to increase significantly over the decades since even a 10% reduction in vehicle weight yields a 6.5% reduction in fuel consumption, which in turn results in reduced carbon emissions.

To Request a Sample of our Report on Automotive Lightweight Materials Market:  https://www.omrglobal.com/request-sample/automotive-lightweight-materials-market

According to the European Commission report, cars in Europe are responsible for around 12% of total EU emissions of carbon dioxide, the main greenhouse gas. The 2015 and 2021 targets represent reductions of 18% and 40% respectively compared with the 2007 fleet average of 158.7 grams of CO2 per kilometer (g CO2/km). The average emissions level of a new car sold in 2017 was 118.5 grams of CO2 per kilometer, significantly below the 2015 target of 130g. By 2021, phased in from 2019, the fleet average to be achieved by all new cars is 95 grams of CO2 per kilometer. In such a scenario, every kilogram weight of the vehicle is important. 

Global population has increased and is continuing to increase; however, the fundamental laws of motion have adhered to their bases since the beginning of time. According to the United Nations, the global population is marked at 7.6 billion currently and is expected to reach 8.6 billion in 2030. Also, today 55% of the world’s populations live in urban areas and this portion is expected to increase to 68% in 2050. Adapting with the fast-paced lifestyle, people have now been using vehicles more than ever. 

The automotive industry has witnessed advancement in technology, and many initiatives have been taken to improve the performance of vehicles; which tends to drive the global automotive lightweight materials market. Using lightweight materials in various automotive applications is one such advancement that is likely to improve the performance of the vehicle. The need to improve the use of lightweight materials in current transport systems becomes even more critical and would also enable in addressing the international commitment to reduce carbon emissions. In the coming three decades, the UK intends to reduce the carbon footprint by 80% and to meet this goal it is important to reduce the mass of the vehicles. 

Advanced materials are essential for boosting the fuel economy of modern automobiles while maintaining safety and performance. Lightweight composites are crucial to boost the fuel economy and maintain the set safety standards and performance of modern automobiles. To accelerate a lighter object, less energy is needed rather than acceleration of heavier one, therefore lightweight composite materials deliver a significant potential to increase the efficiency of vehicles, which in turn, increase its demand, and hence, drives the automotive lightweight materials industry.

A 10% reduction in vehicle weight can result in a 6%-8% fuel economy improvement. The weight saving pre-requisites for automobiles has become highly important coupled with the growing environmental concerns. Reduction in fuel consumption gains by the decline in vehicle weight. Through replacing steel & cast iron conventional components with lightweight composite materials, including Magnesium & Aluminum (Mg & Al) metal matrix composite, carbon & glass fiber strengthened with polymer composites can directly minimize the weight of a vehicle's body and chassis by up to 50%, which leads to the reduction in fuel consumption by the vehicle. The use of light composites in automotive can encourage advanced emission control systems, integrated electronic systems, and safety devices without rising vehicle's overall weight. 

 (Get 15% Discount on Buying this Report)

A full Report of Automotive Lightweight Materials Market is Available at:  https://www.omrglobal.com/industry-reports/automotive-lightweight-materials-market

Global Automotive Lightweight Materials Market- Segmentation

By Material Type

·        Metals

·        Composites

·        Plastics

·        Elastomers

By Vehicle Type

·        Passenger Cars (PC)

·        Light Commercial Vehicle (LCV)

·        Heavy Commercial Vehicle (HCV)

By Application

·        Chassis and Suspension

·        Powertrain

·        Interiors

·        Exterior

·        Others

Regional Analysis

North America

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·        India

·        China

·        Japan

·        Rest of APAC

Rest of The World

·        Latin America

·        Middle East and Africa

Company Profiles

·        Alcoa Corp.

·        ArcelorMittal

·        BASF SE

·        Bayer AG

·        Covestro AG

·        DuPont de Nemours, Inc.

·        Grupo Antolin Irausa, S.A.

·        Hexcel Corp.

·        LANXESS AG

·        LyondellBasell Industries Holdings B.V.

·        Novelis Deutschland GmbH

·        Owens Corning

·        PPG Industries, Inc.

·        SABIC

·        Stratasys Ltd.

·        Tata Steel Ltd.

·        ThyssenKrupp AG

·        Toray Industries, Inc.

Reasons to Buying From us –

1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @  https://www.omrglobal.com/report-customization/automotive-lightweight-materials-market

 About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

For More Information, Visit Orion Market Research

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no:  +91 7803040404

Comments

Post a Comment

Popular posts from this blog

European Data Backup and Recovery Market Size, Share, Analysis, Industry Report and Forecast 2019-2025

  European Data Backup and Recovery Market are expected to reach $5.7 billion in 2027, growing at a CAGR of 9.5% during the forecast period (2021-2027). Factors responsible for the growth of the market in Europe are well-developed telecommunication infrastructure, high internet penetration, high adoption of cloud-based devices among people and organization. Regulations regarding the data localization such as GDPR by the European Union and countries own data localization and protection act are providing growth to the market. Major economies which are expected to hold a considerable market are UK, Germany, France, Italy, and Spain. These economies are part of the European Union, which covers most of the continent. The aim of the European Union was to increase economic cooperation and encourage free trade among countries. To Request a Sample of our Report on European Data Backup and Recovery Market :   https://www.omrglobal.com/request-sample/european-data-backup-recovery-...
Read more

Insect Repellent Market Is Likely to Experience a Tremendous Growth by 2031

This informative Insect Repellent Market report provides new method and covers foremost regions such as Latin America, Middle East, North America, Europe, Africa and Asia Pacific. Making most out of the consumer insights and market opportunities, market players can boost up the revenue rate of their business. It also permits key organizations to make communication with customers and know their demands for making right investment in the product development. By increasing the product portfolio by referring the important market data provided in this Insect Repellent Market research report, key players can grow and expand their business forward. Continuously developing customer demands are also described in this global report to help new entrants make required changes in the final product launch and then bring into the market. It becomes easy for key players to prioritize the demands and requirements of target audience and have complete understanding of end-user experience with the help o...
Read more

Asia-Pacific Urban Air Mobility Market Growth, Size, Share, Industry Report and Forecast 2019-2025

The Asia-Pacific urban air mobility market is estimated to grow at a CAGR of 12.6% during the forecast period. The Asia-Pacific urban air mobility market is segmented on the basis of component and operation. Based on the component, the market is further segmented into infrastructure and platform. The infrastructure segment is further segmented into charging stations, traffic management, and others whereas, the platform segment is further classified into air taxi, personal air vehicle, air ambulance, and others. The platform segment dominated the global urban air mobility market. To Request a Sample of our Report on Asia-Pacific Urban Air Mobility Market :   https://www.omrglobal.com/request-sample/asia-pacific-urban-air-mobility-market Asia-Pacific is home to several emerging economies and is seen as the potential market for the UAM owing to growing urbanization coupled with increasing traffic congestion and increasing high-income groups in the region. The growth of the As...
Read more