According to a recent report published by Allied Market Research, titled, “Automotive Lightweight Materials Market by Vehicle Type, Material Type, and Component: Global Opportunity Analysis and Industry Forecast, 2021–2030”
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 – https://www.alliedmarketresearch.com/request-sample/1601
The growth of the global automotive lightweight materials market is driven by surge in need for fuel-efficient mobility solution and improved strength & safety of the vehicle. Moreover, consistent changes in design requirements of the automotive especially in electric vehicles and implementation of stringent emission norms by several policymakers are projected to create significant opportunity for lightweight materials during the forecast period.
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.
𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 – https://www.alliedmarketresearch.com/automotive-lightweight-materials-market/purchase-options
The composites segment is anticipated to create lucrative growth opportunities, owing to incraese in demand for fuel-efficient solutions along with improved strength.
Europe dominates the global automotive lightweight materials market in which the U.S. is expected to be a leader country in the global automotive lightweight materials market during the forecast period. Moreover, Europe is expected to retain its dominance in the market, owing to changes in automotive industry outlook and adoption of the advanced materials by automakers in the region for vehicle development.
Germany, the UK, and India are expected to witness as emerging countries in the global automotive lightweight materials market, owing to tranformation in automotive design consideration of the auomkares to cope up with the stingent vehicle emission norms, as weight of the vehicle is directly impact the emssion level of the vehicle. The global automotive lightweight materials market is a fairly fragmented market with several number of players holding majority of share. The majority of the market participants are strategically involved in product launch, expansion, and product development activities.
Key Findings Of The Study
- By vehicle type, the electric powered segment is expected to register significant growth during the forecast period.
- On the basis of material type, the metals segment is projected to lead the global market in terms of market share by the end of the forecast period.
- Depending on component, the exterior systems and components segment is projected to lead the global market, in terms of market share, by the end of the forecast period.
- Europe dominated the global automotive lightweight materials market in 2020 in terms of market share.
The key players profiled in the report are Alcoa Corporation, ArcelorMittal, BASF SE, Covestro AG, Hindalco Industries Limited, Lyondellbasell Industries N.V., Owens Corning, Stratasys Ltd., Thyssenkrupp AG, and Toray Industries Inc
Procure Research Report at: https://www.alliedmarketresearch.com/automotive-lightweight-materials-market/purchase-options