The Global Automotive Market is expected to grow over the forecast period owing to the growth in the average production of vehicles and sales volume globally per year. Light weight materials are characterized by high strength and lighter weights. Light weight materials enhance the bettering parameters such as acceleration and handling. Automakers usually obtain more freedom, flexibility and ease with the introduction of light weight materials in the automotive industry. It enables designers to design vehicles that can be electronically operated by using batteries which are available at lowers costs and provide higher performance
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The global automotive light weight materials market is expected to witness significant growth in the forecast period owning to its wide spread applications in automotive sector. Due to stringent rules and regulations pertaining to emissions and pollution levels, this is expected to further increase and have and a wider application platform. The growing demand in this market is majorly driven by increase in the consumption of light weight materials in the automotive industry.
Structural application of these markets are estimated to have the largest growth and a market share in terms of value. With stringent emission norms, manufacturers in the automotive industry are required to follow regulations that lead them to use lightweight materials that indirectly improves efficiency in their vehicles. Requirements like better fuel efficiency, improved mileage, better fuel economy, an improved driving experience, better performance of the vehicle in addition to a greater power in the driving experience ae other factors that fuel the increase in demand from consumers for lightweight materials. In addition, use of lightweight materials reduce the weight of the vehicle that provides enhanced security and better experience. It has also given automotive designers an opportunity to innovate and create new designs and structures owing to the property of these materials to be readily and easily be molded into any desirable shape and size. They therefore provide an added advantage of innovation to automotive manufacturers.
Light weight materials have a wide spread presence in the aerospace industry. Plastics, carbon fibers and metals are used to manufacture and design the structural, interior and exterior parts of a vehicle The fuel consumption of a vehicle is drastically reduced by making the vehicle as light as possible. If the weight of a vehicle is reduced by 10% the fuel consumption can be reduced by about 5% to 7% owing to the reduced effort required to move and accelerate the vehicle. Lighter the weight of the vehicle, lesser would be the fuel consumption. Asia Pacific is estimated to be the largest market in automotive light weight materials industry in terms of volume. Major contributors of light weight materials in Asia are China, India and Japan. Due to a reasonable amount of demand for vehicles,by volume, in these regions, there are several light weight manufacturers and suppliers who are readily available to contribute to the market that can provide them with better profits.
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