Automotive Lightweight Materials Market to Reach $126.76 Bn, Globally, by 2030 at 7.1% CAGR: Allied Market Research

PORTLAND, Ore., Aug. 10, 2021 /PRNewswire/ — Allied Market Research published a report, titled, “Automotive Lightweight Materials Market by Vehicle Type (IC Engine Powered, Electric Powered, and Others), Material Type (Metals, Composites, Plastics, and Elastomer), and Component (Frame, Powertrain, Interior Systems & Components, and Exterior Systems & Components): Global Opportunity Analysis and Industry Forecast, 2021–2030″ According to the report, the global automotive lightweight materials industry was estimated at $71.65 billion in 2020, and is anticipated to hit $126.76 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030.

Drivers, restraints, and opportunities-

Growth in need for improved safety and enhanced performance of the vehicle and stringent regulations for fuel economy and automation emission drive the growth of the global automotive lightweight materials market. On the other hand, high cost of the materials and declined production and sale of automobile impede the growth to some extent. Nevertheless, entering into agreements and contracts with automotive OEM and growth in vehicle electrification are projected to pave the way for lucrative opportunities in the future.

Download Report (290 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/1601

COVID-19 scenario-

  • The outbreak of COVID-19 has significantly impacted the global automotive industry. The downturn in demand for new and old vehicles and disrupted supply chain outlook were the major impacts of partial lockdown.
  • Furthermore, government restrictions resulted in weak financial performance of the automakers, which negatively impacted the automotive production, especially during the initial phase.
  • Nevertheless, the restrictions are getting eased off as the vaccination drives are getting boosted all across the region. And the market is, therefore, expected to recoup soon.

Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/1601

The IC engine powered segment to dominate by 2030-

By vehicle type, the IC engine powered segment contributed to around four-fifths of the global automotive light material market share in 2020 and is expected to lead the trail by the end of 2030. The fact that the available fleet across the globe is dominated by the IC powered vehicle drives the growth of the segment. However, the electric powered segment is expected cite the fastest CAGR of 10.4% from 2021 to 2030. This is attributed to the rise in penetration of electric vehicle and growing trend of usage of green mobility solution.

The exterior systems and components segment to maintain the dominant share-

Based on component, the exterior systems and components segment accounted for more than two-fifths of the total market revenue in 2020 and is projected to retain its dominance by 2030. Furthermore, the segment would also manifest the fastest CAGR of 7.9% throughout the forecast period. This is owing to the change in manufacturing outlook of the automotive development and growing adoption of the lightweight materials by the automotive manufacturers.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/automotive-lightweight-materials-market/purchase-options

Europe, followed by North America garnered the major share in 2020-

Based on region, Europe, followed by North America, held the major share in 2020, garnering more than One-third of the global market. The market across this region is also anticipated to register the fastest CAGR of 8.0% from 2021 to 2030. This is due to the rising adoption of automotive lightweight materials and growing need for fuel efficient automotive solutions. The other regions studied in the report include Asia-Pacific and LAMEA.

Key market Players-

  • Hindalco Industries Limited
  • Lyondellbasell Industries N.V.
  • Owens Corning
  • Stratasys Ltd.
  • Thyssenkrupp AG
  • Toray Industries Inc.
  • Alcoa Corporation
  • ArcelorMittal
  • BASF SE
  • Covestro AG

Schedule a FREE Consultation Call with Our Analysts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/1601

Similar Reports We Have on Automotive Industry:

Tire Reinforcement Material Market by Type (Tire Cord Fabric and Tire Bead Wire), By Material (Steel Tire, Polyester Tire, Rayon, Nylon and Others) – Global Opportunity Analysis and Industry Forecast, 2021-2030.

Automotive Acoustic Material Market by Type (ABS, Fiberglass, Polypropylene, Polyurethane and Polyvinyl Chloride (PVC) & Textile) and Component (Arch Liner, Dash, Fender, Floor Insulator, Door, Head & Bonnet Liner, Engine Cover, Trunk Trim and Parcel Tray): Global Opportunity Analysis and Industry Forecast, 2021–2030.

Engineered Material Arresting System Market by End Use (Commercial Airport, Military Airbase, and Aircraft Carrier), by System (Fixed System, and Portable System), by Platform (Ground Based, and Ship based): Global Opportunity Analysis and Industry Forecast, 2020–2027.

Automotive Fabric Market by Fabric Type (Polyester, Vinyl, Leather, Nylon, and Others), Vehicle Type (Passenger Type and Commercial Vehicle), and Application (Floor Covering, Upholstery, Pre-assembled interior Components, Tires, Safety Belts, Airbags, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2030.

Aerospace Raw Materials Market by Aircraft Types (Military Aircraft, Commercial Aircraft, Helicopters, Business & General Aviation, and Others) and Metal Types (Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composite Materials, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030.

Defense Aircraft Material Market by Material Type (Aluminum Alloy, Steel Alloy, Titanium Alloy, and Composite Material), Product (Cleaning Chemicals, Aviation Paint Strippers, Degreasers, Aircraft Leather Cleaners, Specialty Solvents, Aircraft Wash & Polishes, and Others), and Application (Transport Aircraft, Combat Aircraft, Military Cargo, Helicopters and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

USA/Canada (Toll Free):

+1-800-792-5285, +1-503-894-6022, +1-503-446-1141

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1(855)550-5975

[email protected]
Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com 
Follow Us on | Facebook | Twitter | LinkedIn |

SOURCE Allied Market Research


Go to Source