Automotive Lightweight Materials Market

Automotive Lightweight Materials Market Overview

Automotive lightweight materials are those that display a high strength-to-weight ratio, outstanding corrosion resistant qualities, and significant design flexibility, making them suitable for use in automobile systems and components. Recent demands for lighter weight and greater fuel efficiency, adherence to environmental regulations, and shifting consumer attitudes toward mobility solutions as consumers demand high-strength materials to achieve high-end operational performance are the main factors anticipated to influence automakers to concentrate on rethinking materials. Automobile producers have used plastics, polymer composites, steel, magnesium, and aluminium to meet the evolving demands of the automotive industry. Due to their numerous uses in the development of automobiles and increased strength and safety, composites are gaining popularity. The discovery, manufacture, and integration of materials that are lighter in weight than conventional materials like steel is the focus of the Automotive Lightweight Materials Market, a significant sub segment of the automotive industry. To make cars lighter overall, these lightweight materials are used in a variety of vehicle parts and structures. This weight loss has a number of advantages, including as better fuel economy, better vehicle performance, lower pollutants, and, in some situations, increased safety. The market for automotive lightweight materials is flexible and responsive to alterations in legislation, consumer tastes, and environmental concerns. The future of the automotive industry will be shaped by the use of lightweight materials as technology develops, especially in the context of increasing efficiency and minimizing environmental effect.

Automotive Lightweight Materials Market Growth

The fabrication of various components and parts for the automotive industry has traditionally used a variety of techniques. Production of panels and body parts typically employs hot-forming and cold-forming manufacturing techniques. These production techniques were only compatible with common materials like some grades of steel, aluminium, and other metals that are similar. The production of intricate panel shapes and designs was also incompatible with some manufacturing technologies. The demand for automobiles with cutting-edge designs and features is growing, and innovative production technologies are displacing traditional manufacturing processes. Additive manufacturing, resin transfer moulding, micro injection moulding, and other technologies are a few of these. The capacity to create new materials that are relatively light in weight and stronger was one of the main benefits of implementing such advanced production techniques. These cutting-edge manufacturing techniques are also built to function with little to no material waste. For instance, the additive manufacturing process wastes extremely little material. In most traditional production techniques, it is a subtractive process, leading to comparatively higher material waste. With one of the highest weight-to-strength ratios, carbon fibre material has grown significantly as a result of this production process. Other lightweight materials, such as various grades of plastic, composites, and metals, are also compatible with the method. For instance, the 2020 BMW (Germany) i8 Roadster sports car serves as an example of how additive manufacturing might be used. The automotive sector considerably benefits from these innovative procedures and technology as it tries to meet the rising need for lightweight. Several of the industry's top OEMs are using these advanced manufacturing technologies to creating vehicles with improved performance and comparatively higher fuel efficiency. These cutting-edge manufacturing techniques have in some circumstances helped with material substitution, which has reduced weight and cost.

Automotive Lightweight Materials Market Opportunity

The demand for sustainable transportation on a worldwide scale and the tightening emission rules are the key drivers of the growing trend of electrification in the automobile sector. Ford, General Motors, Toyota, and other major automakers have all entered the electric vehicle market, as have Volkswagen (Germany), Tesla Motors (US), Ford (US), and Toyota (Japan). Compared to traditional ICE vehicles, electric cars are generally more efficient. The battery range has elevated to a top-tier consideration for customers as the number of electric car sales has increased. One of the biggest expenses related to the production of an EV, however, is the price of the battery. With their weight accounting for 30–40% of the curb weight of an EV, the batteries are also one of its heaviest parts. Because there is such a need for cars larger batteries cannot be used in vehicles with longer ranges because doing so would increase the cost, weight, and useful space of the vehicles. The performance and battery range of the car are further offset by this increase in vehicle weight. These factors influence the OEMs' preference for automotive lightweight in electric vehicles, which results in a battery range that is comparatively longer for a given battery capacity. The market for driverless vehicles is also progressively growing. Several studies indicate that only about 10% of these autonomous vehicles will be used for personal use, with the majority being shared vehicles. This sharing of the car necessitates adequate capacity to accommodate more passengers in comfort. When such shared autonomous vehicles are integrated with smaller batteries, Light weighting, which can considerably expand space for more passengers to occupy it. In order to create their electric and driverless vehicles, OEMs frequently use a variety of lightweight materials. For instance, Tesla Motors (US) implemented automobile light weighting in the Long Range (LR) and Performance variants of the Tesla Model Y in 2022. Prior to this, both of these variations weighed about 2003 kg. However, the LR variant had a 24 kg weight reduction, which was a significant reduction. Additionally, with the fast expanding market for electric vehicles, more affordable electric vehicles with longer ranges can be anticipated if OEMs incorporate automotive light weighting.

Automotive Lightweight Materials Market Covid 19 Impact

Due to travel limitations, the COVID-19 pandemic has had a detrimental effect on the worldwide automotive lightweight materials market. In 2020, it is predicted that market participants would experience a decline in their financial performance. The broader economy has been harmed, and contributors like market players are creating strategic cost-saving initiatives. Supply chain execution, regulatory and policy changes, reliance on labour, working capital management, liquidity and solvency management, and regulatory and policy changes are the main risk concerns for market participants in automotive lightweight materials. Due to commuter limitations, a lack of workers, and a shortage of raw materials as a result of supply chain disruption, the majority of manufacturing plants for automotive lightweight materials have been closed during the epidemic. Production of automobiles and automotive components, notably those made of lightweight materials, was slowed down and delayed as a result of lockdowns, restrictions, and supply chain disruptions. Consumer expenditure on vehicles declined as a result of diminished consumer confidence and economic unpredictability during the epidemic. Automakers reduced production as a result of the decline in demand, which affected the demand for lightweight materials. Because of their financial difficulties, automakers were unable to spend money on expensive lightweight materials and cutting-edge technologies. Although the COVID-19 epidemic posed substantial obstacles for the automotive lightweight materials market, it is important to note that the sector was already moving toward greater adoption of lightweight materials in order to achieve long-term sustainability and environmental goals. As the global economy and the automotive sector both grow As the automotive industry adjusts to the "new normal," the role of lightweight materials in boosting fuel efficiency and lowering emissions is expected to remain a top priority.

Automotive Lightweight Materials Market Restraints

Mixed Material Design (MMD) has tremendously aided vehicle light weighting by creating components and parts from two different materials. However, because to the difficulty in the welding or joining process of two dissimilar materials, it is difficult to fully utilize the advantages of the MMD. This is mostly due to differences in physical qualities, densities, and welding temperatures between materials. The appropriate connecting of these two materials is critical to the structural integrity and strength of the pieces. It is a serious safety hazard if any crucial component fails to connect. For example, the majority of the properties of aluminium and steel differ significantly, which might have negative consequences such as corrosion, thermal expansion, and others. To address this, many OEMs employ specific adhesives and rivets. Join two different metals. Proper welding or other stronger joining methods, on the other hand, are being developed. The comprehensive adoption of MMD might be extremely beneficial in many automobile applications. For example, the inner shell of the vehicle, such as the door and other panel skins, can be composed of the lightest materials, and reinforced with a comparably stronger substance. This can significantly reduce weight without compromising the application's structural strength. This can also help with the new design of crumble zones with MMD in the same structure, as well as reducing the amount of cross members in the monologue chassis. This MMD can also be used to adjust the NVH levels in the car by using chosen materials with higher noise levels.

Automotive Lightweight Materials Market Report Scope

Automotive Lightweight Materials Market Segment Analysis

The global automotive lightweight materials market is divided into four sections vehicle type, material type, component, and geography. The market is further subdivided based on vehicle type into IC engine-powered, electric powered, and others. Among them, the IC engine powered segment is predicted to account for the biggest market share this year and to maintain its dominance throughout the projection period. Heavy commercial vehicles driven by IC engines are expected to increase rapidly. Due to stringent fuel economy and emissions restrictions, the usage of lightweight materials is increasing in order to lower the total vehicle weight and, as a result, increase vehicle carrying capacity. These are some of the primary elements influencing the expansion of the marketplace. The market is divided into metals, composites, plastics, and elastomers based on material type. The metals sector accounted for the biggest market share and is likely to continue dominating the market over the forecast period.  Metals are widely employed in electric vehicles; the most common metals used in vehicle weight reduction include high strength steel, magnesium, titanium, and aluminium. These metals are both lighter in weight and stronger than steel. The market is divided into frame, powertrain, interior systems and components, and outside systems and components. The external systems and components segment had the biggest market share last year and is likely to continue to dominate the market during the forecast period. With a quick. Lightweight materials are mostly employed in exterior systems and components to provide automobiles with creative design. The increased demand for luxury vehicles is likely to boost market expansion.

Automotive Lightweight Materials Market Segments

Automotive Lightweight Materials Market, by Vehicle Type

1. IC Engine Powered
2. Electric Powered
3. Others

Automotive Lightweight Materials Market, by Material Type

1. Metals
2. Composites
3. Plastics
4. Elastomer

Automotive Lightweight Materials Market, by Component

1. Frame
2. Powertrain
3. Interior Systems & Components
4. Exterior Systems & Components

Automotive Lightweight Materials Market, by Region

1. North America
2. Europe
3. Asia pacific
4. South America
5. Middle East & Africa

Automotive Lightweight Materials Market Regional Analysis

Regional study of the Automotive Lightweight Materials Market reveals how market dynamics, trends, and drivers change across geographic regions. Lightweight material adoption in the automotive industry can vary greatly depending on factors such as regional restrictions, consumer preferences, economic situations, and the automotive manufacturing landscape. North American pollution requirements and fuel economy laws are rigorous, driving demand for lightweight materials. The market has matured, with an emphasis on light weighing for both internal combustion engines (ICEs) and electric vehicles (EVs).The European Union has some of the most stringent emissions rules in the world, which encourages the use of lightweight materials to enhance fuel efficiency and minimize CO2 emissions. European automakers are investing on light weighting, particularly for electric vehicles (EVs). The Asia Pacific automotive market, the world's largest, is a crucial participant in the adoption of lightweight materials, particularly for electric vehicles. The need for lightweight materials is fuelled by government incentives and legislation aimed at promoting EVs. Countries are known in the automobile industry for their innovative technology and lightweight materials, particularly in the creation of high-performance vehicles. South America's use of lightweight materials differs per nation. One of the biggest industries in the area is the automotive sector, which is gradually using lightweight materials to comply with standards and increase fuel efficiency. Although not a significant participant in the field of lightweight materials, the Middle East and Africa's automotive sector is developing, and there is room for expansion in the adoption of lightweight materials. The Automotive Lightweight Materials Market's regional study indicates regional variations in adoption rates, motivators, and difficulties. For automakers, material suppliers, and other players trying to successfully navigate this evolving market, an understanding of these regional differences is crucial.

Automotive Lightweight Materials Market Key Players

Automotive manufacturers, material suppliers, and technology providers with a focus on lightweight materials and solutions are some of the major players in the automotive lightweight materials market. The adoption of lightweight materials in the automobile sector is advanced in large part by these businesses. Due to the existence of well-known players, the market is known for its intense competitiveness. Multinational players employ tactics like geographical expansion, partnerships, and an increase in production capacity. Players compete based on the application industries supported, the quality of the product, the cost, and the market reach. These firms believe that technical advancements in material composition will help them to maintain their market leadership. These materials are being aggressively used by the automobile industry, as well as by technological companies that offer light weighting solutions. Depending on the region, use, and kind of light materials being utilized, different important players may be present in the market. In order to help manufacturers meet legal regulations and consumer demands for more environmentally friendly and fuel-efficient automobiles, these businesses are leading innovation and breakthroughs in the material world.

1. W. L. Gore & Associates, Inc.
2. ArcelorMittal S.A.
3. BASF SE
4. Toray Industries, Inc.
5. Alcoa Corporation
6. ThyssenKrupp AG
7. Norsk Hydro ASA
8. Covestro AG
9. PPG Industries, Inc.
10. Magna International Inc.
11. Novelis Inc.
12. Alcan Inc.
13. LyondellBasell Industries N.V.
14. Owens Corning
15. Reliance Industries Limited
16. Constellium SE
17. SGL Carbon SE
18. Hexcel Corporation
19. Zoltek Companies, Inc.
20. Continental AG
21. Faurecia S.A.
22. Adient plc
23. Grupo Antolin
24. Yanfeng Automotive Interiors
25. Magna International
26. Others