Global automotive light material market annual compound growth rate or 13.06%
Global automotive light material market annual compound growth rate or 13.06%
The market value of global automotive light materials will grow from $59.7 billion in 2016 to $110.42 billion in 2021, and will grow at a compound annual growth rate of 13.06% between 2016 and 2021. Strict emission regulations, as well as the demand growth for high-fuel efficiency and low-pollution vehicles, have driven the development of the market for the light materials of automobiles.
"Lightweight metal: the fastest-growing segment of the automotive light material market"
Lightweight metals are the fastest-growing segment of the market, both in terms of quantity and value. Metal is an invitation-only material for cars, followed by plastics and rubber. In lightweight metal, high strength steel has the highest potential, aluminum material is the highest, and the material is 5-10 times higher than the conventional steel material. EDAG independent German car design company and the national highway traffic safety administration, according to a study of using aluminum material to make cars can lose weight by 35%, for the cost of additional savings of $927 per car; Using carbon fiber reinforced composites, it can be reduced by 50 per cent and cost an extra $2,700 per car. However, because of the high price, the use of composite materials in the automobile industry is mainly limited to high-end passenger cars.
"Chassis and suspension: the fastest growing application in the automotive lightweight materials market"
More than 30 percent of vehicle weight is concentrated in the chassis and suspension, so there is a huge potential for light quantification. Over the next five years, the application of light materials in both parts will continue to grow at a high rate. According to a U.S. department of energy publication, the weight of the chassis and suspension parts will be reduced by 35 percent by 2025, and the lightweight materials used in both parts are high speed steel. Light material growth is secondary to the body and interior parts.
"North American market leading light materials market, Asia Pacific second"
The north American market is the fastest growing area in the automotive light material market. CAF? Fuel standards and upcoming emission regulations (EPA 3 standards for young vehicles in 2017) require that vehicles produced in the future must be lighter to meet these specifications. North America is also a major market for light trucks. The United States accounts for the bulk of the total demand for light materials in North America. Asia and Oceania are expected to be the fastest growing light-materials market, with major demand coming from countries such as China, Japan and India.
Auto lightweight materials market mainly include: basf (Germany), thyssenkrupp (Germany), strong (Germany), arcelor mittal (Luxembourg), Leander Basel (USA), the Nobel Liz (USA), owens corning (U.S.), power co., LTD (Japan), PPG (USA), Alcoa, etc.
