Automotive Lightweight Materials Market is expected to witness significant to 2026

As per a recent research report by Global Market Insights, Inc., Automotive Lightweight Materials Market is estimated to exceed $310 billion through 2026; increasing requirements to follow fuel emission regulations to enhance efficiency would positively influence the market outlook. In fact, as per the U.S. CAFE (Corporate Average Fuel Economy) rules, automakers need to meet an economy of 54.5 mpg till 2025. In order to follow these norms, vehicle producers are finding alternative powertrains that comply with these fuel emission standards.Earlier in March 2017, even the United Services Automobile Association entered a partnership with IBM Global Services to enhance customer experience and services and cut the cases of fake claims. Increasing instances of frauds and the rising demand for appropriate solutions to combat the same will thus drive Automotive Lightweight Materials Market share.

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Global automotive lightweight materials market has emerged as one of the most lucrative sectors in recent years. The industry is further set to witness exponential growth in the coming years. This growth can be attributed to the growing need for reducing GHG emissions across the world.

Meanwhile, the ever-increasing demand for manufacturing of electric vehicles would also likely augment the market share through 2026.

Material substitution in vehicles is another major factor fostering the market share. This is because it plays a crucial role in decreasing secondary weight across load-bearing structures and improving the fuel economy. Rising usage of lightweight materials in vehicles allows significant weight reductions. It also results in an improvement in driving performance.

With respect to the material segment, UHSS (Ultra-High Strength Steel) and AHSS (Advanced High Strength Steel) are currently gaining significant traction in the industry. They are also predicted to generate considerable profits in the coming years. This growth can be accounted to improved performance of these high strength steels in crash energy management, superior strength, and lesser production cost.

Additionally, higher work and brake hardening capabilities are enabling enhanced formability. They are also presenting new opportunities for optimization of complex part geometries. Substantial advancements in material properties are attained through technologically advanced manufacturing procedures and multimaterial optimization.

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Apart from this, performance characteristics of novel lightweight materials are precisely managed and monitored using new simulation techniques which further help decrease the prototyping costs. All these benefits would possibly push automotive lightweight materials market outlook through 2026.

Speaking of the regional landscape, APAC automotive lightweight materials market is predicted to dominate the industry share over the forecast timespan. Japan and China would lead the market share of the region.

Increasing production of electric vehicles in these countries is a major factor responsible for market expansion in the region. In addition, incentive programs and promotional governmental policies are likely to boost electric vehicle demand.

All in all, the above-mentioned factors are overtly indicative of a massive range of opportunities for automotive lightweight materials market growth. The competitive landscape of automotive lightweight materials industry is inclusive of players like WHB Brasil, Borealis, Ak Steel Corporation, Aleris Corporation, Sgl Carbon, Posco, LANXESS, Stratasys Ltd., Owens Corning, ThyssenKrupp AG, Arcelormittal, Alcoa Corporation, LyondellBasell, BASF, Toray, and Convestro among others.

Apart from increased manufacturing, multimaterial design approaches incorporating advanced composites and plastics is likely to drive the overall market outlook. Browse key industry insights spread across 252 pages with 317 market data tables, 23 figures & charts from the report, "Automotive Lightweight Materials Market Size By Material (Metals & Alloys [High Speed Steel, Aluminum, Magnesium], Plastics [Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polycarbonate], Composites [Glass Fiber, Carbon Fiber]), By Application (Body In White, Chassis, Powertrain, Interior, Exterior), By Manufacturing Process (Casting, Extrusion, Rolling, Forging, Forming, Open Molding, Closed Molding), By Vehicle Type (ICEV, Battery electric, Hybrid Electric), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026" in detail along with the table of contents:https://www.gminsights.com/industry-analysis/automotive-lightweight-materials-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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