| Study Period | 2019 - 2032 |
| 2024 Market Size | USD 80.7 Billion |
| 2025 Market Size | USD 85.8 Billion |
| 2032 Forecast | USD 134.7 Billion |
| Growth Rate (CAGR) | 6.7% |
| Largest Region | Europe |
| Fastest Growing Region | APAC |
| Nature of the Market | Fragmented |
| Largest Application Category | Body-in-White |
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The automotive lightweight material market size stood at USD 80.7 billion in 2024, and it is set to grow at a CAGR of 6.7% during 2025–2032, to reach USD 134.7 billion by 2032.
Materials with a high strength-to-weight ratio, high corrosion resistance, and significant design flexibility are the key demands of consumers when looking at automotive systems and components. The main factors that are set to influence automakers to concentrate on material redesigning in the forecast years are the need for weight reduction and higher fuel efficiency, adhere to environmental regulations, and the changing consumer preferences toward mobility solutions.
Automobile makers have employed plastics, polymer composites, steel, magnesium, and aluminum to meet the evolving demands of customers. Because of their many applications in automobiles and their increased strength and safety, composites are gaining popularity.
For instance, reducing the body weight of a car by more than 1 kg can result in a 20-kg reduction in the amount of CO2 the car emits over the course of its lifetime. The goal of European regulatory agencies was to reduce each passenger vehicle's CO2 emissions from 140 g to 95 g per km by 2024, while the revised garget for 2025 is 93.6 g per km. Moreover, the vehicle component and material sector will receive vast positive opportunities from electric vehicle OEMs.
These requirements have compelled automakers to consider a number of additional options, including creating new techniques for the powertrain systems, research on alternative fuels, and use of alternative, lightweight components.
Currently, high-strength steel is the mostly used by manufacturers for passenger vehicle parts, while composites and other polymers are also attracting interest due to their low weight and high strength.
Moreover, in the projected timeframe, there will be a surge in the demand for low-weight materials as a result of the rapid development of electric vehicles by well-known automakers, including Toyota, Volkswagen Group, General Motors, Bavarian Motor Works, Fiat Chrysler Automobiles, Renault, and Tata Motors.
The metal category had the greatest revenue share, of 45%, in 2024, and it is forecast to expand significantly over the projection period. Aluminum, titanium, magnesium, and high-strength steel are witnessing an increase in demand due to the necessity for durability in components such as chassis, passenger compartment frames, and underbody floors.
Metallic components are utilized in automobiles to increase rigidity, since they are stable and long-lasting. The demand for metallic components is set to be supported by the concerns about passenger safety, which are driving the adoption of vehicles with high safety ratings in Europe and the Asia-Pacific region.
The composites category will witness the highest CAGR over the forecast period. Without compromising the vehicle's design or dynamics, composite materials give it strength and lightness. Owing to their anti-corrosive nature, they could significantly increase vehicle fuel efficiency by reducing vehicle weight by as much as 60%. Moreover, the development of low-cost manufacturing methods for automotive composites is receiving a lot of attention and is in active phase with great promises.
We studied these types:
Body-in-white is the largest category and the fastest-growing as well, with 7% CAGR. This is because this comprises the most-important and largest part of the vehicle. Moreover, since the BIW supports the chassis and the interiors, it needs to be strong. This is why amidst the surging environmental concerns, OEMs are utilizing a variety of composites, aluminum, and advanced high-strength steel to reduce the weight of the BIW yet meet the regulations for passenger safety. Further, with the demand for higher ride comfort, lightweight materials for BIW are also being designed to reduce noise, vibrations, and harshness (NVH) inside the cabin.
These are the prominent applications in the report:
Passenger cars accounted for the largest value share in 2024, of 60%. This is simply because more passenger cars are produced and sold than LCVs and HCVs. As per OICA, global passenger car manufacturing output for 2023 stood at 67,133,570 units, compared to just 26,413,029 units for commercial vehicles. The increasing industrialization has increased the overall purchasing power of consumers. Owing to such increase in the overall income of consumers, the per capita vehicle ownership has increased, especially in the developing Asia-Pacific countries, such as India, China, and Japan. This is further driving the use of lightweight materials in the automotive industry for the manufacturing of lightweight and fuel-efficient vehicles. Additionally, electric cars are increasingly being made lightweight to maximize battery power; thus, with the growth in EV demand, the market is expanding.
LCVs is the fastest-growing category, driven by the rising demand for pickup trucks and vans. This is itself credited to the increase in the demand for last-mile and urban delivery services on account of the growth in the e-commerce sector. With the rise in online order volume, logistics companies must ferry higher loads per trip. Hence, to raise their Corporate Average Fleet Economy and reduce emissions, owners of delivery fleets are increasingly choosing lightweight, as well as electric vans and pickup trucks.
These vehicles types haec been analyzed:
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With a revenue share of around 40% in 2024, Europe leads the market, and it is expected to experience significant advance over the coming years. The expansion is being accelerated by the regional presence of major suppliers of the most of the commodities, as well as a large number of automakers globally.
In addition, Euro 6 standards, which are followed by the EU's members, aim to reduce the amount of pollutants, such as nitrogen oxides and carbon monoxide. The standards consist of instructions for OEMs to reduce CO2 emissions and increase fuel efficiency. Additionally, in order to develop new and cutting-edge lightweight components, suppliers and manufacturers of lightweight materials are investing time and money in R&D. Moreover, Europe is expected to continue to be the largest region during the projection period due to the rising demand for automobiles.
APAC is the fastest-growing market with an expected CAGR of 8% during the forecast period. India, China, Japan, and South Korea are the major contributors to the Asia-Pacific automobile industry because of the abundant supply of resources and the high demand for passenger automobiles and commercial vehicles. With 2023 production volumes of 30,160,966; 8,997,440; 5,851,507; and 4,243,597 units; China, Japan, India, and South Korea, respectively, lead the world in terms of auto production.
Furthermore, the need for light composite materials will rise as a result of the region's strict vehicle pollution regulations and shifting inclination toward passenger safety. It is expected that BS-VI (BS6) compliance in India and consumer preference for safe-rated automobiles will enhance the consumption of such material.
Below is the geographical breakdown of the market:
The market is fragmented because lightweight materials used for automobiles are of various types, such as metals, plastics, and composites. Therefore, a vast number of companies operate in the market, each specializing in a particular class of material. Plastics, composites, and common lightweight metals have been in existence for decades, which is why not much technical expertise or capital investment is needed to produce them in appreciable volumes. Additionally, with technological advancements, newer companies are emerging with high-performance and customize materials, further fragmenting the market.
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