The global automotive lightweight materials market is estimated to grow significantly, at a CAGR of 6.9%, during the forecast period. The major factors contributing to the market growth include the stringent regulations for the emission of fuel and growing initiatives for weight reduction. The government has made it crucial to reduce the weight of engine components and improve heat resistance for decreasing both fuel consumption and CO2 emissions. In order to use materials that are lighter in weight and more heat resistant than Ni-based superalloy, an environmental barrier coating (EBC) is necessary to cover the surface of components for a long period of time.

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According to the International Council of Clean Transportation, a large fraction of TTG (Transport Task Group) members have already implemented world-class tailpipe emissions standards for both LDVs (Light delivery vehicles) and HDVs (heavy -duty vehicles), including Canada, the European Union, and its member states, Japan, and the US. These regulations are expected to reduce vehicle emission in the environment prevailing the automotive lightweight materials market. However, the high material and processing cost is one of the major factors that hamper the market growth.

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Global Automotive Lightweight Materials Market Segmentation

By Material Type

Metals

Composites

Plastics

Elastomers

By Vehicle Type

Passenger Cars (PC)

Light Commercial Vehicle (LCV)

Heavy Commercial Vehicle (HCV)

By Application

Chassis and Suspension

Powertrain

Interiors

Exterior

Others (Body in white)

Regional Analysis

North America

United States

Canada

Europe

UK

Germany

Italy

Spain

France

Rest of Europe

Asia-Pacific

China

India

Japan

Rest of Asia-Pacific

Rest of the World

Company Profiles

Alcoa Corp.

ArcelorMittal

BASF SE

Bayer AG

Covestro AG

DuPont de Nemours, Inc.

Grupo Antolin Irausa, S.A.

Hexcel Corp.

LANXESS AG

LyondellBasell Industries Holdings B.V.

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