A recent study by Fact.MR on the automotive lightweight material market offers a 10-year forecast for 2021 and 2031. The study analyzes crucial trends that are currently determining the growth of the automotive lightweight material market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of automotive lightweight material. The study also provides dynamics that are responsible for influencing the future status of the automotive lightweight material market over the forecast period.
A detailed assessment of the automotive lightweight material market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the automotive lightweight material market along with their product portfolios enhances the reliability of this comprehensive research study.
Request a Report Sample to Gain Compressive Insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=3423
Key Takeaways from Global Automotive Lightweight Material Market
- The global automotive lightweight material market is anticipated to create a value opportunity of around US$ 150 Bn during the forecast period, adding 1.6X times more value as compared to 2020.
- Growing R&D activities and new product launches are set to benefit the automotive lightweight material market by the end of 2031.
- Passenger vehicles will account for more than 58% of the global automotive lightweight material market by the end of the 2031.
- The chassis & suspension segment is anticipated to lose around 108 BPS during the forecast period of.
- China holds a leading share and accounts for more than 18 MMT of automotive lightweight material production, to cater to the rapidly growing automotive manufacturing in the country.
- The markets in North America and Mexico are set to grow at a moderate pace, together accounting for around 20% demand share, globally.
“AHSS is set to be a promising material by the mid-term forecast period, owing to extensive inclination of automakers towards making vehicles light in weight”. Says Analyst at Fact.MR
COVID-19 Impact on Automotive Lightweight Material Market
The coronavirus pandemic has brought the whole world to a standstill. Business activities have registered a downturn in the form of dwindling sales due to reduced production and demand. The same is true for the automotive lightweight material market. A prominent end use of automotive lightweight material is in automotive application. The ongoing pandemic has led to a decline in all industrial activities, in the wake of disrupted supply chains.
Extended lockdowns across different countries have hit the production of automotive lightweight material for the past months, as key manufacturing units and factories are shut. Even after these lockdowns are lifted, it will take at least a couple of quarters to restore production to normal. Thus, contracting demand from allied industries in the second quarter of 2021 will have a prolonged effect on the growth of the global automotive lightweight material market.
To Gain In-depth Insights on Plastic Protective Packaging Market, Request Methodology at https://www.factmr.com/connectus/sample?flag=RM&rep_id=3423
Global Automotive Lightweight Material Market Manufacturers: Key Strategies
The global automotive lightweight material market is fragmented in nature. Voestalpine Stahl GmbH , POSCO, Formosa, JSR, Owen Corning, ThyssenKrupp AG, Trinseo, LG Chem, Aleris International, Dupont, Eastman, SGL Carbon SE, Guirt Holding AG, Teijin Limited, Hunstman, ExxonMobil, Covestro, Mitsubishi, DSM, Solvay, SSAB AB, Baoshan Iron & Steel Co., Ltd, Nucor Corp, Trinseo, Luxfer, Kaiser, Hindalco, Braskem, UFP Technologies, Asahi Kasei Corporation, Ineos, Chevron Phillips, SABIC, Toray, Celanese, BASF, and ArcelorMittal SA. are among the tier 1 players. Together, they are anticipated to account for more than 80% of the global market share in 2021.
Key manufacturers are observed to be involved in extensive research, product development, and collaborations with key manufacturers to enhance their market share. Moreover, these key manufacturers have also showcased inorganic strategies. For instance, in December 2020, two steel market giants, ArcelorMittal and Nippon Steel, together acquired loss making steel firm Essar Steel in India. This acquisition is set to enhance the company’s market share in the South Asia region.
Need An Exclusive Report For Your Unique Requirement? – Click Here Now to Customise Report
Automotive Lightweight Material Market: Segmentation
Fact.MR has studied the automotive lightweight material market with detailed segmentation on the basis of by material, vehicle, application, and key regions.
- AHSS & UHSS
- PU and continued…
- Engine & Mechanical
- Chassis and Suspension
- Exterior & Structural
- Body Structure and Frame
- Body Panels & Trims and continued…
- North America
- Latin America Excluding Mexico
- Europe Excluding Germany
- East Asia Excluding China
- South Asia & Oceania and continued…
*Full Segmentation and Many Crucial Insights Available in Report *
To Get All-in Insights on the Regional and Competitve Landscape of the Automotive Lightweight Material Market,
Buy now at https://www.factmr.com/checkout/3423
The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the automotive lightweight material market across the globe.
Explore More Trending Reports by Fact.MR’s –
Genealogy Products and Services Market – Fact.MR recently released a recent study titled, “Genealogy Products and Services Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2021 to 2031” which provides valuable insights into the genealogy products & services market.
Glass-Free HD 3D Display Market – In 2021, the U.S. glass-free HD 3D display market grew impressively, setting aside scepticism about how the market would perform during a global pandemic. Across the whole of North America, sales of glass-free HD 3D displays are poised to reach a valuation of US$ 200 Mn by 2031.
Straddle Carrier Market – Straddle Carrier Market Forecast, Trend Analysis and Competition Tracking – Global Review 2021-2028 is a comprehensive compilation of various data and key insights that key stakeholders can use and apply in their routine business setting.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & chemical and materials, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583