Global lightweight automotive materials market is slated to touch a value US$ 76,200 Mn in the year 2022 and grow at a steady CAGR during the assessment period.
NEW YORK, NY, UNITED STATES, July 8, 2022 /EINPresswire.com/ — This report provides in depth study of “Lightweight Automotive Materials Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Lightweight Automotive Materials Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
The prospects of growth of the global lightweight automotive materials market are positively influenced by the recent increase in the automotive regulatory requirements. Due to the growing menace of rising levels of air pollution, governments all across the world have enacted stringent laws and requirements pertaining to the reduction in the emissions of carbon dioxide from the vehicles. A reference can be made of the Kyoto Protocol that commits the countries that have signed this protocol to restrict the emissions of greenhouse gases in the atmosphere. Due to such factors, the automotive manufacturers are increasingly turning to use lightweight materials in the vehicles they manufacture. Such kind of lightweight materials reduce the overall weight of the vehicles, thereby improving the fuel efficiency of such vehicles and cutting the emissions of greenhouse gases. However, the high cost of such lightweight materials is hampering the growth of this market.
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The global lightweight automotive materials market is slated to touch a value of about US$ 76,200 Mn in the year 2022 and grow at a steady CAGR during the assessment period.
Forecast Highlights on Global Lightweight Automotive Materials Market
• As per the forecast of Persistence Market Research, the HSS additive type segment is slated to touch a value of nearly US$ 10,000 Mn in the year 2022. This represents a moderate CAGR growth during the assessment period of 2017-2022. The HSS additive type segment is estimated to account for more than one-tenth of the revenue share of the additive type segment by the year 2017 and is forecasted to lose market share by 2022 over 2017.
• As per the forecast of Persistence Market Research, the mid-sized passenger cars segment will reach a value of about US$ 12,500 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The mid-sized passenger cars segment is forecasted to account for more than one-fifth of the total revenue share of the vehicle type segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.
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• As per the forecast of Persistence Market Research, the body-in white application type segment is slated to reach a value of nearly US$ 18,700 Mn in 2022. The body-in white application type segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the APEJ region in the body-in white application type segment.
• Persistence Market Research forecasts the China lightweight automotive materials market to exhibit a compound annual growth rate (CAGR) of more than 5% from 2017 to 2022.
The report has also included the profiles of some of the leading companies in the lightweight automotive materials market like ArcelorMittal SA, Owens Corning, BASF SE, ThyssenKrupp AG, Covestro AG., PPG Industries, Inc., LyondellBasell Industries NV, Alcoa Inc., Novelis, Inc. and Toray Industries, Inc.
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• Automotive Interior Materials Market
The global automotive interior material market was projected US$ ~98.9 Bn in 2018, and is anticipated to increase at a CAGR of ~6% in the forecast period of 2019-2029, and reach ~192.1 Bn units by the end of 2029.
• Train Seat Materials Market
The global train seat materials market is projected to expand at a CAGR of around 4.5% over the forecast period of 2021-2031.
Persistence Market Research Pvt Ltd Atul Singh
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