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Automotive Lightweight Material Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company's Automotive Lightweight Materials Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
LONDON, GREATER LONDON, UK, June 23, 2022 /EINPresswire.com / -- According to 'Automotive Lightweight Materials Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026' published by The Business Research Company, the automotive lightweight materials market size is expected to grow from $86.92 billion in 2021 to $99.97 billion in 2022 at a compound annual growth rate (CAGR) of 15.0%. The global automotive lightweight material market size is expected to grow to $141.41 billion in 2026 at a CAGR of 9.1%. The surge production of electric vehicles is expected to propel the automotive lightweight materials market growth over the coming years.
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The global automotive lightweight material market consists of sales of automotive lightweight materials by entities (organizations, sole traders, and partnerships) that are engaged in the production of different lightweight materials for the manufacturing of automotive components such as carbon fiber, aluminum, and magnesium among others. Automotive lightweight materials are used in vehicles to decrease weight, increase speed, and improve fuel economy. Due to advantages such as reduced material consumption, increased strength, low degradation risk, and improved handling, these lightweight materials are an excellent substitute for bulky conventional materials previously used to build vehicle frames.
Global Automotive Lightweight Materials Market Trends
New product developments and compositions are gaining significant popularity in the automotive lightweight material market. Key players in the automotive lightweight materials market are focusing on developing new and innovative products to the market using lightweight materials such as carbon fiber, aluminum and replacing generic materials.
Global Automotive Lightweight Materials Market Segments
The global automotive lightweight materials market is segmented:
By Material Type: Metals, Composites, Plastics, Elastomer
By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
By Application: Body in White, Chassis and Suspension, Powertrain, Closures, Interiors, Others
By Geography: The global automotive lightweight materials market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe accounts for the largest share.
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Automotive Lightweight Materials Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides automotive lightweight materials global market overviews, analyzes and automotive lightweight materials global market forecast market size and growth, automotive lightweight materials global market share, automotive lightweight materials global market segments and geographies, automotive lightweight materials market players, automotive lightweight materials market leading competitor revenues, profiles and market shares. The automotive lightweight materials industry report identifies top countries and segments for opportunities and strategies based on market trends and key competitors' approaches.
TBRC's Automotive Lightweight Materials Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: BASF SE, Covestro AG, LyondellBasell Industries Holdings B.V, Toray Industries Inc, ArcelorMittal, ThyssenKrupp AG, Novelis Inc, Alcoa Corporation, Stratasys Ltd, Owens Corning, Tata Steel, and POSCO.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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