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Automotive Lightweight Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global automotive lightweight materials market size reached US$ 67.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 107.0 Billion by 2027, exhibiting a growth rate (CAGR) of 7.97% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Automotive lightweight materials are primarily used for replacing cast iron and conventional steel components in different types of vehicles such as electric, plug-in and hybrid electric vehicles. They are used in structural elements which enable vehicles to carry advanced safety devices, integrated electronic systems and emission control systems. The usage of lightweight materials in automobiles offsets the weight of their power systems like electric motors and batteries while improving the efficiency and increasing their all-electric range. Some of the most popular lightweight materials used in the automotive industry include high-strength steel, aluminum alloys, polymer composites, carbon fiber, magnesium alloys, etc.

With rapid environmental degradation, automotive companies across the globe are developing lighter and functional materials for improving the fuel efficiency of vehicles. The usage of lightweight materials enables manufacturers to improve vehicle efficiency, as a reduction in the weight of a car leads to significant improvement in fuel economy. Consequently, the increasing fuel prices are driving the demand for lighter vehicles. Other than this, governments of various nations have also introduced vehicle weight reduction plans in response to the need for stringent environmental regulations. Furthermore, there has been a rise in investments in R&D activities across the industry as several major players are aiming to lower the cost of these materials and increase their recyclability.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive lightweight materials market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on material type, propulsion type, component, application and vehicle type.

Breakup by Material Type:

  • Metal 
    • High Strength Steel (HSS)
    • Aluminum
    • Magnesium & Titanium
  • Composite 
    • Carbon Fiber Reinforced Polymer (CFPR)
    • Glass Fiber Reinforced Polymer (GFRP)
    • Natural Fiber Reinforced Polymer (NFRP)
    • Other Composites
  • Plastic
  • Elastomer
     

Breakup by Propulsion Type:

  • IC Engine Powered
  • Electric Powered
  • Others
     

Breakup by Component:

  • Frame
  • Wheel
  • Bumper
  • Door and Seat
  • Instrument Panel
  • Others
     

Breakup by Application:

  • Structural
  • Interior
  • Exterior
  • Powertrain
  • Others
     

Breakup by Vehicle Type:

  • Passenger Vehicle
  • Light Commercial Vehicle (LCV)
  • Heavy Commercial Vehicle (HCV)
     

Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being BASF SE, Magna International, Toray Industries, Covestro AG, ArcelorMittal, thyssenkrupp AG, Alcoa Corporation, Bayer AG, Saudi Arabia Basic Industries Corporation (SABIC), PPG Industries, LyondellBasell, Novelis, Owens Corning Corporation, Grupo Antolin, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Propulsion Type, Component, Application, Vehicle Type, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered BASF SE, Magna International, Toray Industries, Covestro AG, ArcelorMittal, thyssenkrupp AG, Alcoa Corporation, Bayer AG, Saudi Arabia Basic Industries Corporation (SABIC), PPG Industries, LyondellBasell, Novelis, Owens Corning Corporation, Grupo Antolin
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Automotive Lightweight Materials Market 
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Material Type  
    5.5    Market Breakup by Propulsion Type
    5.6    Market Breakup by Component 
    5.7    Market Breakup by Application
    5.8    Market Breakup by Vehicle Type 
    5.9    Market Breakup by Region
    5.10    Market Forecast
6   Market Breakup by Material Type 
    6.1    Metal  
        6.1.1    Market Trends 
        6.1.2    Market Breakup by Type
                 6.1.2.1   High Strength Steel (HSS)
                 6.1.2.2   Aluminum
                 6.1.2.3   Magnesium and Titanium
        6.1.3    Market Forecast 
    6.2    Composite  
        6.2.1    Market Trends 
        6.2.2    Market Breakup by Type
                 6.2.2.1   Carbon Fiber Reinforced Polymer (CFPR)
                 6.2.2.2   Glass Fiber Reinforced Polymer (GFRP)
                 6.2.2.3   Natural Fiber Reinforced Polymer (NFRP)
                 6.2.2.4   Others 
        6.2.3    Market Forecast 
    6.3    Plastic 
        6.3.1    Market Trends
        6.3.2    Market Forecast
    6.4    Elastomer 
        6.4.1    Market Trends
        6.4.2    Market Forecast
7   Market Breakup by Propulsion Type 
    7.1    IC Engine Powered 
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Electric Powered
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Others 
        7.3.1    Market Trends
        7.3.2    Market Forecast
8   Market Breakup by Component
    8.1    Frame  
        8.1.1    Market Trends 
        8.1.2    Market Forecast 
    8.2    Wheel 
        8.2.1    Market Trends 
        8.2.2    Market Forecast 
    8.3    Bumper 
        8.3.1    Market Trends 
        8.3.2    Market Forecast 
    8.4    Door and Seat  
        8.4.1    Market Trends 
        8.4.2    Market Forecast 
    8.5    Instrument Panel  
        8.5.1    Market Trends 
        8.5.2    Market Forecast 
    8.6    Others 
        8.6.1    Market Trends 
        8.6.2    Market Forecast 
9   Market Breakup by Application
    9.1    Structural  
        9.1.1    Market Trends 
        9.1.2    Market Forecast 
    9.2    Interior  
        9.2.1    Market Trends 
        9.2.2    Market Forecast 
    9.3    Exterior 
        9.3.1    Market Trends 
        9.3.2    Market Forecast 
    9.4    Powertrain  
        9.4.1    Market Trends 
        9.4.2    Market Forecast 
    9.5    Others 
        9.5.1    Market Trends 
        9.5.2    Market Forecast 
10  Market Breakup by Vehicle Type
    10.1    Passenger Vehicle
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Light Commercial Vehicle (LCVs)
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Heavy Commercial Vehicle (HCVs)
        10.3.1    Market Trends
        10.3.2    Market Forecast
11  Market Breakup by Region
    11.1    North America
        11.1.1    Market Trends
        11.1.2    Market Forecast
    11.2    Europe
        11.2.1    Market Trends
        11.2.2    Market Forecast
    11.3    Asia Pacific
        11.3.1    Market Trends
        11.3.2    Market Forecast
    11.4    Middle East and Africa
        11.4.1    Market Trends
        11.4.2    Market Forecast
    11.5    Latin America
        11.5.1    Market Trends
        11.5.2    Market Forecast
12  SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13  Value Chain Analysis
14  Porter’s Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15  Price Analysis
16  Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
      16.3.1    BASF SE
      16.3.2    Magna International 
      16.3.3    Toray Industries 
      16.3.4    Covestro AG 
      16.3.5    ArcelorMittal 
      16.3.6    thyssenkrupp AG 
      16.3.7    Alcoa Corporation 
      16.3.8    Bayer AG 
      16.3.9    Saudi Arabia Basic Industries Corporation (SABIC) 
      16.3.10    PPG Industries 
      16.3.11    LyondellBasell 
      16.3.12    Novelis 
      16.3.13    Owens Corning Corporation 
      16.3.14    Grupo Antolin 

List of Figures

Figure 1: Global: Automotive Lightweight Materials Market: Major Drivers and Challenges
Figure 2: Global: Automotive Lightweight Materials Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Automotive Lightweight Materials Market: Breakup by Material Type (in %), 2021
Figure 4: Global: Automotive Lightweight Materials Market: Breakup by Propulsion Type (in %), 2021
Figure 5: Global: Automotive Lightweight Materials Market: Breakup by Component (in %), 2021
Figure 6: Global: Automotive Lightweight Materials Market: Breakup by Application (in %), 2021
Figure 7: Global: Automotive Lightweight Materials Market: Breakup by Vehicle Type (in %), 2021
Figure 8: Global: Automotive Lightweight Materials Market: Breakup by Region (in %), 2021
Figure 9: Global: Automotive Lightweight Materials Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 10: Global: Automotive Lightweight Materials Industry: SWOT Analysis
Figure 11: Global: Automotive Lightweight Materials Industry: Value Chain Analysis
Figure 12: Global: Automotive Lightweight Materials Industry: Porter’s Five Forces Analysis
Figure 13: Global: Automotive Lightweight Materials (Metal) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 14: Global: Automotive Lightweight Materials (Metal) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 15: Global: Automotive Lightweight Materials (Composite) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 16: Global: Automotive Lightweight Materials (Composite) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 17: Global: Automotive Lightweight Materials (Plastic) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 18: Global: Automotive Lightweight Materials (Plastic) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 19: Global: Automotive Lightweight Materials (Elastomer) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 20: Global: Automotive Lightweight Materials (Elastomer) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 21: Global: Automotive Lightweight Materials (IC Engine Powered) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 22: Global: Automotive Lightweight Materials (IC Engine Powered) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 23: Global: Automotive Lightweight Materials (Electric Powered) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 24: Global: Automotive Lightweight Materials (Electric Powered) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 25: Global: Automotive Lightweight Materials (Other Propulsion Types) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 26: Global: Automotive Lightweight Materials (Other Propulsion Types) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 27: Global: Automotive Lightweight Materials (Frame) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 28: Global: Automotive Lightweight Materials (Frame) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 29: Global: Automotive Lightweight Materials (Wheel) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 30: Global: Automotive Lightweight Materials (Wheel) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 31: Global: Automotive Lightweight Materials (Bumper) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 32: Global: Automotive Lightweight Materials (Bumper) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 33: Global: Automotive Lightweight Materials (Door and Seat) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 34: Global: Automotive Lightweight Materials (Door and Seat) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 35: Global: Automotive Lightweight Materials (Instrument Panel) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 36: Global: Automotive Lightweight Materials (Instrument Panel) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 37: Global: Automotive Lightweight Materials (Other Components) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 38: Global: Automotive Lightweight Materials (Other Components) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 39: Global: Automotive Lightweight Materials (Structural) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 40: Global: Automotive Lightweight Materials (Structural) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 41: Global: Automotive Lightweight Materials (Interior) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 42: Global: Automotive Lightweight Materials (Interior) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 43: Global: Automotive Lightweight Materials (Exterior) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 44: Global: Automotive Lightweight Materials (Exterior) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 45: Global: Automotive Lightweight Materials (Powertrain) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 46: Global: Automotive Lightweight Materials (Powertrain) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 47: Global: Automotive Lightweight Materials (Other Applications) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 48: Global: Automotive Lightweight Materials (Other Applications) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 49: Global: Automotive Lightweight Materials (Passenger Vehicle) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 50: Global: Automotive Lightweight Materials (Passenger Vehicle) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 51: Global: Automotive Lightweight Materials (Light Commercial Vehicle) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 52: Global: Automotive Lightweight Materials (Light Commercial Vehicle) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 53: Global: Automotive Lightweight Materials (Heavy Commercial Vehicle) Market: Sales Value (in Billion US$), 2016 & 2021
Figure 54: Global: Automotive Lightweight Materials (Heavy Commercial Vehicle) Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 55: North America: Automotive Lightweight Materials Market: Sales Value (in Billion US$), 2016 & 2021
Figure 56: North America: Automotive Lightweight Materials Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 57: Europe: Automotive Lightweight Materials Market: Sales Value (in Billion US$), 2016 & 2021
Figure 58: Europe: Automotive Lightweight Materials Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 59: Asia Pacific: Automotive Lightweight Materials Market: Sales Value (in Billion US$), 2016 & 2021
Figure 60: Asia Pacific: Automotive Lightweight Materials Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 61: Middle East and Africa: Automotive Lightweight Materials Market: Sales Value (in Billion US$), 2016 & 2021
Figure 62: Middle East and Africa: Automotive Lightweight Materials Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 63: Latin America: Automotive Lightweight Materials Market: Sales Value (in Billion US$), 2016 & 2021
Figure 64: Latin America: Automotive Lightweight Materials Market Forecast: Sales Value (in Billion US$), 2022-2027

List of Tables

Table 1: Global: Automotive Lightweight Materials Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Automotive Lightweight Materials Market Forecast: Breakup by Material Type (in Billion US$), 2022-2027
Table 3: Global: Automotive Lightweight Materials Market Forecast: Breakup by Propulsion Type (in Billion US$), 2022-2027
Table 4: Global: Automotive Lightweight Materials Market Forecast: Breakup by Component (in Billion US$), 2022-2027
Table 5: Global: Automotive Lightweight Materials Market Forecast: Breakup by Application (in Billion US$), 2022-2027
Table 6: Global: Automotive Lightweight Materials Market Forecast: Breakup by Vehicle Type (in Billion US$), 2022-2027
Table 7: Global: Automotive Lightweight Materials Market Forecast: Breakup by Region (in Billion US$), 2022-2027
Table 8: Global: Automotive Lightweight Materials Market: Competitive Structure
Table 9: Global: Automotive Lightweight Materials Market: Key Players


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Key Questions Answered in This Report

The global automotive lightweight materials market was valued at US$ 67.2 Billion in 2021.

We expect the global automotive lightweight materials market to exhibit a CAGR of 7.97% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units for various automotive lightweight materials.

The rising utilization of numerous automotive lightweight materials, such as polymer composites, carbon fiber, magnesium alloys, etc., to improve vehicular efficiency, is primarily driving the global automotive lightweight materials market.

Based on the material type, the global automotive lightweight materials market has been segmented into metal, composite, plastic, and elastomer. Currently, metal holds the majority of the total market share.

Based on the propulsion type, the global automotive lightweight materials market can be categorized into IC engine powered, electric powered, and others, where IC engine powered currently exhibits a clear dominance in the market.

Based on the application, the global automotive lightweight materials market has been segregated into structural, interior, exterior, powertrain, and others. Among these, powertrain accounts for the majority of the global market share.

Based on the vehicle type, the global automotive lightweight materials market can be divided into passenger vehicle, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV). Currently, passenger vehicle holds the largest market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Europe currently dominates the global market.

Some of the major players in the global automotive lightweight materials market include BASF SE, Magna International, Toray Industries, Covestro AG, ArcelorMittal SA, ThyssenKrupp AG, Alcoa Corporation, Bayer AG, Saudi Arabia Basic Industries Corporation (SABIC), PPG Industries, LyondellBasell Industries N.V., Novelis Inc., Owens Corning Corporation, Grupo Antolin, etc.

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