Automotive Manufacturers' Focus to Produce Lightweight Vehicles Boosts Demand Avenues in Automotive Lightweight Materials Market: TMR

Automotive Manufacturers' Focus to Produce Lightweight Vehicles Boosts Demand Avenues in Automotive Lightweight Materials Market: TMR

PR Newswire

ALBANY, N.Y., Oct. 8, 2020

Global automotive lightweight materials market is foreseen to develop at 7.2% CAGR in 2019 to 2027. Implementation of stringent government regulations to improve the vehicle fuel efficiency is major factor pushing market sales

Asia Pacific holds major market share, and Japan and China expected to expand at rapid pace during assessment period

ALBANY, N.Y., Oct. 8, 2020 /PRNewswire/ -- Automotive lightweight materials are gaining traction across the worldwide automotive sector. One of the important reasons for this popularity is the ability of automotive lightweight materials to advance the fuel economy of automobiles. Similarly, these materials widely utilized to boost the safety as well as overall vehicle performance. Owing to all these factors, the global automotive lightweight materials market is estimated to grow at rapid speed in the years ahead.

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TMR's analysts highlight that the automotive lightweight materials market is likely expand at a CAGR of 7.2% during forecast period of 2019–2027. Major enterprises from the automotive industry are eyeing the development of vehicles with advanced fuel efficiency. As a result, they are growing use of automotive lightweight materials. This scenario depicts that the manufacturers of automotive lightweight materials will gain lucrative avenues in the years ahead.

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The automotive lightweight materials market can be segmented as follows:





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