The global lightweight materials for EV market is expected to account for a market volume of 10,906.5 kilotons by the end of 2025. The market is expected to witness high growth due to the wide adoption of electric vehicles and the rising need for increasing the range and efficiency of the vehicle.
“The global lightweight materials for EV market is expected to witness a CAGR of 26.97% during the forecast period. The environmental standards regarding the carbon dioxide emissions laid down by the governments across various countries have led to an increasing need for decreasing the weight of the vehicle for improving its efficiency and reducing CO2 emissions, thus propelling the demand for lightweight materials.”
Impact of COVID-19
The automotive industry, in particular, has borne the brunt of the pandemic, owing to the ongoing lockdown, the decrease in sales, and the impending apprehensions to invest in future ambitious projects. A sharp decline in global automotive trends has been witnessed in the first four months. However, the sales of electric vehicles can pick up pace in China and in various countries of Europe from the second half of 2020, as these countries emerge out of the lockdowns. China also, aims to further scale up the reduced incentives to negate the effect of the pandemic.
Scope of the Global Lightweight Materials for EV Market
The global lightweight materials for EV market research provides a detailed perspective on the different types of lightweight materials, their applications, value, and volume estimation, among others. The principal purpose of this market analysis is to examine the lightweight materials industry outlook for EV batteries in terms of factors driving the market, restraints, trends, and opportunities, among others.
The report further considers the market dynamics (drivers, restraints, and opportunities), supply chain analysis, and the detailed product contribution of the key players operating in the market. The global lightweight materials for EV market report is a compilation of different segments, including market breakdown by product type, application, region, and country.
The global lightweight materials for EV market, based on product type, has been segmented into metal and alloys, composites, and plastics and elastomers. The metal and alloys segment is further sub-segmented into HSS, aluminum, and others. The plastics and elastomers segment is further segmented into polypropylene(PP), acrylonitrile butadiene styrene (ABS), polyurethane (PUR), and others. The metal and alloys segment is expected to maintain its dominance during the forecast period in the global lightweight materials for EV market.
The global lightweight materials for EV market, by propulsion type, has been segmented into BEVs, PHEVs, and HEVs. The BEVs segment dominated the global lightweight materials for EV market in 2019 in terms of volume and is expected to maintain its dominance through the forecast period.
Based on the region, the global lightweight materials for EV market for EV batteries has been segmented into Asia-Pacific & Japan, Europe, U.K., China, North America, and Rest-of-the-World. Each region is further segmented into countries. Data for each of these regions and countries is provided by product type and propulsion.
Key Companies in the Global Lightweight Materials for EV Market
The companies profiled in the report are SSAB AB, Toray Industries, Inc., Arcelor Mittal S.A., SABIC, ThyssenKrupp AG, Solvay S.A., SGL Carbon SE, Covestro AG, DuPont de Nemours, Inc., Celanese Corporation, Novelis Inc., Nippon Steel Corporation, LyondellBasell Industries, BASF SE, and Constellium SE.
Key Questions Answered in this Report:
- What are the key drivers and challenges in the global lightweight materials for EV market?
- How does the supply chain function in the global lightweight materials for EV market?
- What will be the potential impact of COVID-19 on the market?
- Which product segment is estimated to witness the maximum demand growth in the global lightweight materials for EV market during 2019-2025?
- Which are the key application areas for which different lightweight material types may experience high demand during the forecast period, 2020-2025?
- Who are the key suppliers of different lightweight materials?
- What are the business and corporate strategies adopted by manufacturers involved in the global lightweight materials for EV market?
- Which regions and countries are leading in terms of consumption of the global lightweight materials for EV market, and which of them are expected to witness high demand growth from 2019 to 2025?
- What are the key consumer attributes in various regions for lightweight materials for EV market?