The automotive industry is currently witnessing a widespread adoption of advanced technologies to increase fuel efficiency, reduce emission levels, and enhance the driving dynamics of the vehicle.
Dallas, TX -- (SBWIRE) -- 06/04/2015 -- The report Automotive Lightweight Materials Market by Material (Metals, Composites, & Plastics), by Application (Structural, Powertrain, Interior, Exterior, & Others), by Manufacturing Process, and Region - Global Trends and Forecast to 2019, defines and classifies the automotive lightweight materials market in terms of volume and value. The report projects the potential growth and covers the drivers, restraints, opportunities, dynamics, competitive landscape, and other key aspects of the automotive lightweight materials market. It also includes profiles of key players operating in the market.
Browse 90 market data tables and 62 figures spread through 168 pages and in-depth TOC on Automotive Lightweight Materials Market - Global Trends and Forecast to 2019.
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The Automotive Lightweight Materials Market size, in terms of value, is projected to grow at a healthy CAGR of 14.40% to reach $206.8 Billion by 2019.
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North America, mainly the U.S., houses some of the major players in the automotive lightweight materials market. These include Novelis Inc., Alcoa Inc., and Owens Corning Corporation, among others. North America has always been a frontrunner in terms of technological advancements. The U.S. holds the largest market share with a high penetration rate for premium vehicles, while Mexico is a major hub for automotive exports. In the current scenario, the lightweight metals segment holds the largest market share, followed by lightweight composites, which also constitute the fastest-growing market in the region.
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Lightweight composites are estimated to hold a major share in the automotive lightweight materials market. This segment is estimated to grow rapidly, at a CAGR of 17.06% during the forecast period. North America accounts for the second-largest share of this market. The application of lightweight composites has not only reduced the weight of the vehicle but has also aided in providing enhanced safety and higher fuel efficiency. Additionally, the use of composites in a vehicle has given automobile designers free rein, as these materials can be easily molded into any shape or size as per requirements. They thus provide the added advantage of creativity to automotive manufacturers.
In Europe and North America, automotive lightweight materials have a high penetration rate. The adoption rate of these materials is also growing significantly in the Asia-Oceania region, due to the consumers' increasing demand for faster and lighter vehicles and the demand for enhanced safety.
Competitive developments of top players in the automotive lightweight materials market have been discussed in detail. Leading players in the market, such as ArcelorMittal S.A. (Luxembourg), Bayer AG (Germany), ThyssenKrupp AG (Germany), Novelis Inc. (U.S.), Toray Industries, Inc. (Japan), and others have been profiled, along with their recent developments and other strategic industry activities.
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