Automotive Lightweight Material Market Size, Share, Report 2020-2025Posted by Matt Johnson on March 12th, 2020 According to a new report by Expert Market Research titled, ‘Global Automotive Lightweight Material Market Report and Forecast 2020-2025, the global automotive lightweight material market reached a value of nearly USD 144.4 billion in 2019. The market is further expected to reach USD 217 billion by 2025, growing at a CAGR of 7% between 2020 and 2025. Get a Free Sample Report – https://www.expertmarketresearch.com/request?type=report&flag=B&id=248 Competitive Landscape & Supplier Analysis:
The global automotive lightweight material market is growing rapidly due to the increasing demand for lightweight automotive products globally. Governments are constantly working to reduce rising levels of pollution caused by vehicle emissions. Furthermore, the rising fuel prices, the introduction of emission standards, and the financial implications of adhering to these standards are expected to fuel the demand for lightweight materials in the automotive industry over the forecast period.
Read full report summary with Table of Content – https://www.expertmarketresearch.com/reports/automotive-lightweight-material-market The Middle East and Africa is expected to be one of the fastest-growing regions in the market. The growth in this regional market is driven by the rapid industrialization and the establishment of manufacturing units by various conglomerates like the Cytec Solvay Group. It is expected that the growing software industry will increase the market demand. Europe is one of the leading regions in the market for lightweight materials. Together with growing innovation in lightweight materials used in aviation, the involvement of major car manufacturers is expected to drive the demand for products in this area. It is expected that the growing focus on renewable energy would increase the use of lightweight materials in the energy sector. BASF SE (OTCMKTS: BASFY), one of the key players in the automotive lightweight material market, is increasing its presence in emerging markets to meet local needs while continuing to invest in developed economies. BASF SE products aid this development with safety-enhanced lightweight consumer goods materials. Market Analysis by Material Type:
The material types included in the industry are metal, composite, plastic, and elastomer. Market Analysis by Material Application:
It has wide applications in the body in white, chassis and suspension, powertrain, closures, and interiors, among others. Market Analysis by Material Component:
The components included in the market are frame, wheel, bumper and fender, engine and exhaust, transmission, doors, hood and trunk lid, seats, instrumental panel, and fuel tank. Market Analysis by Material Electric Vehicle Type:
The electric vehicle types include battery electric vehicle, hybrid electric vehicle, plug-in hybrid electric vehicle, electric truck, and electric bus. Market Analysis by Material Region:
The major regions in the market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Key Findings of the Report:
Key Offerings of the Report:
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