Global auto lightweight materials to reach $256.4B by 2022

Reduction in Carbon dioxide emissions, growth in fuel efficiency of vehicles and improved vehicle strength are the factors driving the market growth.

 

However high cost of the raw materials in manufacturing of light weight materials and increase in the price of vehicles are the factors hampering the market growth. Depletion of metal reserves under earth provides an immense growth opportunity.

 

Metals segment holds the largest share in the automotive lightweight materials market owing to its usage in automobile manufacturing. Composite metals segment is expected to witness significant CAGR during the forecast period owing to its exclusive properties. 

 

Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the new investments in this region led by the increasing demand for vehicles.

 

North America holds the largest share in automotive lightweight materials market due to the stringent regulations imposed by government to reduce carbon emission from vehicles.