Automotive Lightweight Materials Market Share

APAC Market Statistics

Asia Pacific in automotive lightweight materials market is projected to account for around 37.5% revenue share by 2037. The market is expanding in the region owing to the expansion of the automotive industry. The market for these lightweight materials is also expected to increase due to the region's abundance of natural resources and high demand from end users of passenger and commercial vehicles. 

In China, lightweight automotive materials such as high-strength steel and aluminum alloys are used in major automobiles. According to the International Aluminum Institute, China aluminum sector has advanced significantly in two areas since the 1980s. One is the annual primary aluminum output, which accounted for 58.8% of the global output in 2022 and increased steadily from about 400,000 tons in 1983 to 40.21 million tons.

The automakers in India are lightening the weight of large SUVs with more features by using lightweight materials like aluminum alloys and high-strength steel. Both fuel economy and CO2 emissions are maintained as a result. Automobiles incorporate a higher proportion of high-strength steels and hot-stamped parts, resulting in a 10% weight reduction and a 6-8% improvement in fuel economy.

The automotive lightweight materials market is expanding rapidly in South Korea as business executives take advantage of the country's emphasis on sustainability and innovation. A highly competitive marketplace is being fostered by key competitors' increased focus on creating solutions that address the particular needs of South Korean customers.

North America Market Analysis

North America will encounter huge growth in the automotive lightweight materials market during the forecast period. The automotive lightweight materials market for lightweight automotive components is anticipated to be driven by pollution control regulations, the growing demand for fuel-efficient automobiles, and an increase in the need for light components.

The automotive lightweight materials market is growing in the U.S. due to the growing demand for passenger cars. For instance, by 2028, it is anticipated that the US passenger car will sell 14.04 million vehicles. Also, the presence of major manufacturers in the region is contributing to the automotive lightweight materials market growth.  In Canada, the manufacturers are highly investing in research & development activities which has resulted in the use of innovative lightweight materials in vehicle production.