Automotive Lightweight Materials: Global Market to Reach $110.5 Billion by 2023 - Trends & Growth Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 10, 2018--The “Automotive Lightweight Materials Market Report: Trends, Forecast and Competitive Analysis” report has been added to ResearchAndMarkets.com’s offering.
The future of the global automotive lightweight materials market looks promising with opportunities in passenger cars, light commercial vehicles, and heavy commercial vehicles.
The study includes the automotive lightweight materials market size and forecast for the global automotive lightweight materials market through 2023, segmented by material type, vehicle type, application, and region.
The global automotive lightweight materials market is expected to reach an estimated $110.5 billion by 2023 and it is forecast to grow at a CAGR of 6.1% from 2018 to 2023.
The major drivers of growth for this market are government regulations concerning fuel economy and emissions, and increasing utilization of lightweight materials by manufacturers. The other major driver is growth of global vehicle production which is expected to grow at a CAGR of 2.5% during the forecast period and to reach 113 million units by 2023.
Emerging trends, which have a direct impact on the dynamics of the automotive lightweight materials industry, include increasing use of aluminum in chassis and structural applications, advanced manufacturing technology, development of aluminum-air battery, third generation AHSS, and pre-oxidation to galvanize AHSS, development of recycling technologies for plastics and replacement of PA 66 with cheaper and advanced PA 6.
On the basis of its comprehensive research, the researcher forecasts that the AHSS, aluminum and composites material segments will show above average growth during the forecast period.
Passenger car, light commercial vehicle, and heavy commercial vehicle are the major vehicle segments of the global automotive lightweight materials market. The passenger car segment is expected to show above average growth during the forecast period due to the increasing penetration of lightweight materials per vehicle.
Companies FeaturedAlcoa Inc. Aleris International, Inc. ArcelorMittal SA E I Du Pont De Nemours and Co. LyondellBassel Industries NV Novelis Inc. POSCO Tata Steel Limited ThyssenKrupp AG US Magnesium LLC
Key Topics Covered
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2012-2023
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
For more information about this report visit https://www.researchandmarkets.com/research/qh6tzg/automotive?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180710005910/en/
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Related Topics:Automotive Manufacturing
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING CHEMICALS/PLASTICS AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 07/10/2018 02:01 PM/DISC: 07/10/2018 02:02 PM