HOME Top Market Reports Alloy Market for Automotive by Alloy Type (Steel, Aluminum, Magnesium, and Others), Area of Application (Structural, Powertrain, Exterior and Others), Vehicle Type (Passenger Car, LCV and HCV), & by Region - Global Forecast to 2021

Alloy Market for Automotive by Alloy Type (Steel, Aluminum, Magnesium, and Others), Area of Application (Structural, Powertrain, Exterior and Others), Vehicle Type (Passenger Car, LCV and HCV), & by Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: May 2016
Report Code: AT 4310

 

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The automotive alloy market is mainly driven by stringent emission norms, increasing government legislation for reduction of weight of a vehicle, and growing research and development on fuel economy, around the globe. The global automotive alloy market is projected to grow at the CAGR of 7.69% to reach the market size of USD 177.47 Billion by 2021. The base year for the study is 2015, and the forecast period is from 2016 to 2021.  The report segments the automotive alloy market based on alloy type, vehicle type, area of application, and region. Alloys of steel, aluminium, magnesium, copper, nickel, titanium among others are covered in the report.

Continuous growth in socio-economic conditions has fueled growth in sales of lightweight vehicles in the passenger car and LCV segments across the globe. The global automotive alloy market is being driven by the rising prices of fuel, government legislation, and efficient driving experience, especially in North America and Europe, and rapid urbanization around the world.

The research methodology used in the report involves various secondary sources including paid databases and directories. Experts from related industries and suppliers have been interviewed to understand the future trends of the automotive alloy market. The model mapping with respect to weight specifications has been done for the passenger car, LCV and HCV segments at country level. The vehicle production at country level has been considered for the study. The bottom-up approach has been used to estimate the market size, in which country-wise vehicle production, and vehicle sales statistics has been taken into account.

The production of vehicles has been considered to arrive at the market size, in terms of volume, for a given period. This country-wise market size, in terms of volume, of vehicles is then multiplied with the country-wise average price of alloy required in all the applications in manufacturing of a vehicle. This results in the country-wise market size, in terms of value. The summation of the country-wise market gives the regional markets and further summation of the regional market provides the global automotive alloy market.

The figure below shows the break-up of the profile of industry experts who participated in primary discussions.

Alloy Market for Automotive

To know about the assumptions considered for the study, download the pdf brochure

The automotive alloy ecosystem consists of alloy manufacturers such as ArcelorMittal SA (Luxembourg), Alcoa Inc. (U.S.), Novelis Inc. (U.S.), UACJ Corporation (Japan), Norsk Hydro ASA (Norway), ThyssenKrupp AG (Germany), Kobe Steel, Ltd. (Japan), AMG Advanced Metallurgical Group NV (Netherlands), and Constellium NV (Netherlands), and Massey Ferguson Ltd (U.S.). Global automotive vehicle manufacturers associations like OICA (International Organization of Motor Vehicle Manufacturers) and regional automotive vehicle manufacturers association such as SIAM (Society of Indian Automobile Manufacturers), CAAM (China Association of Automobile Manufacturers), KAMA (Korea Automobile Manufacturers Association), JAMA (Japan Automobile Manufacturers Association ), EAMA (European Automobile Manufacturers Association), NAAMSA (National Association of Automobile Manufacturers of South Africa), AMIA (Mexican Association of the Automotive Industry), CAA (Canadian Automobile Association), among others.

Target Audience

  • Alloy manufacturers
  • Vehicle parts manufacturers
  • Vehicle manufacturers
  • Investment firms
  • Equity research firms
  • Private equity firms

Scope of the Report

  • By Alloy Type
    • Steel
    • Aluminium
    • Magnesium
    • Others
  • By Vehicle Type
    • Passenger car
    • Light commercial vehicle
    • Heavy commercial vehicel
  • By area of Application
    • Structural
    • Powertrain
    • Exterior
    • Others
  • By Region
    • Asia-Oceania
    • North America
    • Europe
    • RoW

Available Customizations

  • Automotive lightweight material market, by type
  • Automotive aluminium market, by type
  • Automotive steel market, by type

Table of Contents

1 Introduction
    1.1 Objectives of the Study 
    1.2 Market Definition 
    1.3 Market Scope 
           1.3.1 Markets Covered
           1.3.2 Years Considered in the Report
    1.4 Currency 
    1.5 Package Size
    1.6 Limitations 
    1.7 Stakeholders 

2 Research Methodology
    2.1 Research Data 
    2.2 Secondary Data 
           2.2.1 Key Secondary Sources
           2.2.2 Key Data From Secondary Sources
    2.3 Primary Data 
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Factor Analysis 
           2.4.1 Introduction
           2.4.2 Demand Side Analysis
                    2.4.2.1 Impact of Disposable Income on Total Vehicle Sales
                    2.4.2.2 Infrastructure: Roadways
           2.4.3 Supply Side Analysis
                    2.4.3.1 Rising Demand for Hybrid and Electric Vehicles
    2.5 Market Size Estimation 
    2.6 Data Triangulation 
    2.7 Assumptions 

3 Executive Summary

4 Premium Insights
    4.1 Automotive Alloy Market 
    4.2 Automotive Alloys Market Growth, By Country 
    4.3 Automotive Alloy Market, By Type, 2016 (USD Billion) 
    4.4 Automotive Alloys Market, By Area of Application, 2016 (USD Billion) 
    4.5 Automotive Alloys Market, By Vehicle Type, 2016 vs 2021, (USD Billion) 
    4.6 Automotive Alloys Market, By Region, 2016 vs 2021, (USD Billion) 
    4.7 Life Cycle Analysis 

5 Market Overview
    5.1 Introduction 
    5.2 Market Segmentation 
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Growing Vehicle Production
                    5.3.1.2 Regulations for Fuel Efficiency & Emissions
                    5.3.1.3 Improved Driving Dynamics
           5.3.2 Restraints
                    5.3.2.1 High Cost
           5.3.3 Opportunities
                    5.3.3.1 Growing Market for Electric Vehicles
                    5.3.3.2 Integration of New Systems for Comfort & Safety
           5.3.4 Challenges
                    5.3.4.1 Engineering Barriers
    5.4 Value Chain Analysis 
    5.5 Porter’s Five Forces Analysis 
           5.5.1 Threat of New Entrants
           5.5.2 Threat of Substitutes
           5.5.3 Bargaining Power of Buyers
           5.5.4 Bargaining Power of Suppliers
           5.5.5 Intensity of Competitive Rivalry

6 Global Automotive Alloys Market, By Alloy Type
    6.1 Introduction 
    6.2 Steel 
    6.3 Aluminium 
    6.4 Magnesium 
    6.5 Others 

7 Automotive Alloy Market, By Vehicle Type
    7.1 Introduction 
    7.2 Passenger Cars 
    7.3 Light Commercial Vehicles 
    7.4 Heavy Commercial Vehicles 

8 Automotive Alloy Market, By Area of Application
    8.1 Introduction 
    8.2 Structural 
    8.3 Powertrain 
    8.4 Exterior 
    8.5 Others 

9 Automotive Alloys Market, By Region
    9.1 Introduction 
    9.2 Market Analysis, By Region 
           9.2.1 North America
                    9.2.1.1 The U.S.
                    9.2.1.2 Canada
                    9.2.1.3 Mexico
           9.2.2 Europe
                    9.2.2.1 The U.K.
                    9.2.2.2 Germany
                    9.2.2.3 France
           9.2.3 Asia-Oceania
                    9.2.3.1 China
                    9.2.3.2 Japan
                    9.2.3.3 India
                    9.2.3.4 South Korea
           9.2.4 RoW
                    9.2.4.1 Brazil
                    9.2.4.2 Russia

10 Competitive Landscape
     10.1 Competitive Situation & Trends 
     10.2 Expansions 
     10.3 Agreements, Partnerships & Joint Ventures 
     10.4 Mergers & Acquisitions, Supply Contracts & Others 
     10.5 New Product Developments 

11 Company Profiles
     11.1 Introduction 
     11.2 Arcelormittal SA 
             11.2.1 Business Overview
             11.2.2 Products Offered
             11.2.3 Recent Developments
             11.2.4 SWOT Analysis
             11.2.5 MnM View
     11.3 Alcoa Inc. 
             11.3.1 Business Overview
             11.3.2 Products Offered
             11.3.3 Recent Developments
             11.3.4 SWOT Analysis
             11.3.5 MnM View
     11.4 Novelis, Inc. 
             11.4.1 Business Overview
             11.4.2 Products Offered
             11.4.3 Recent Developments
             11.4.4 SWOT Analysis
             11.4.5 MnM View
     11.5 UACJ Corporation 
             11.5.1 Business Overview
             11.5.2 Products Offered
             11.5.3 Recent Developments
             11.5.4 MnM View
     11.6 Norsk Hydro ASA 
             11.6.1 Business Overview
             11.6.2 Products Offered
             11.6.3 Recent Developments
             11.6.4 SWOT Analysis
             11.6.5 MnM View
     11.7 Thyssenkrupp AG 
             11.7.1 Business Overview
             11.7.2 Products Offered
             11.7.3 Recent Developments
             11.7.4 SWOT Analysis
             11.7.5 MnM View
     11.8 Kobe Steel, Ltd. 
             11.8.1 Business Overview
             11.8.2 Products Offered
             11.8.3 Recent Developments
             11.8.4 MnM View
     11.9 AMG Advanced Metallurgical Group 
             11.9.1 Business Overview
             11.9.2 Products Offered
             11.9.3 Recent Developments
             11.9.4 MnM View
     11.10 Constellium N.V. 
             11.10.1 Business Overview
             11.10.2 Products Offered
             11.10.3 Recent Developments
             11.10.4 MnM View
     11.11 Nippon Steel & Sumitomo Metal Corp. 
             11.11.1 Business Overview
             11.11.2 Products Offered
             11.11.3 Recent Developments
             11.11.4 MnM View

12 Appendix
     12.1 Key Insights of Industry Experts 
     12.2 Discussion Guide 
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal 
     12.4 Introducing RT: Real Time Market Intelligence 
     12.5 Available Customizations 
     12.6 Related Reports 


List of Tables (77 Tables)

Table 1  Government Incentives for Electric Vehicles
Table 2  Overview of Emission and Fuel Economy Regulation Specifications for LCVs
Table 3  Value Chain: Automotive Alloy Market
Table 4  Global Automotive Alloy Market, By Alloy Type, 2014-2021(Thousand Metric Tons)
Table 5  Global Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 6  Global Automotive Steel Market, By Region, 2014-2021 (Thousand Metric Tons)
Table 7  Global Automotive Steel Market, By Region, 2014-2021 (USD Billion)
Table 8  Global Automotive Aluminium Alloy Market, By Region, 2014-2021 (Thousand Metric Tons)
Table 9  Global Automotive Aluminium Alloy Market, By Region, 2014-2021 (USD Billion)
Table 10  Global Automotive Magnesium Alloy Market, By Region, 2014-2021 (Thousand Metric Tons)
Table 11  Global Automotive Magnesium Alloy Market, By Region, 2014-2021 (USD Billion)
Table 12  Global Other Automotive Alloys Market, By Region, 2014-2021 (Thousand Metric Tons)
Table 13  Global Other Automotive Alloys Market, By Region, 2014-2021 (USD Billion)
Table 14  Global Automotive Alloy Market, By Vehicle Type, 2014-2021 (Thousand Metric Tons)
Table 15  Global Automotive Alloy Market, By Vehicle Type, 2014-2021 (USD Billion)
Table 16  Passenger Car Automotive Alloy Market, By Type, 2014-2021 (Thousand Metric Tons)
Table 17  Passenger Car Alloy Market, By Type, 2014-2021 (USD Billion)
Table 18  Light Commercial Vehicle Alloy Market, By Type, 2014-2021 (Thousand Metric Tons)
Table 19  Light Commercial Vehicle Alloy Market, By Type, 2014-2021 (USD Billion)
Table 20  Heavy Commercial Vehicle Alloy Market, By Type, 2014-2021 (Thousand Metric Tons)
Table 21  Heavy Commercial Vehicle Alloy Market Alloy Market, By Type, 2014-2021 (USD Billion)
Table 22  Global Automotive Alloy Market, By Area of Application, 2014–2021 (Thousand Metric Tons)
Table 23  Global Automotive Alloy Market, By Area of Application, 2014–2021 (USD Billion)
Table 24  Automotive Structural Alloy Market, By Type, 2014–2021 (Thousand Metric Tons)
Table 25  Automotive Structural Alloy Market, By Type, 2014–2021 (USD Billion)
Table 26  Automotive Powertrain Alloy Market, By Type, 2014–2021 (Thousand Metric Tons)
Table 27  Automotive Powertrain Alloy Market, By Type, 2014–2021 (USD Billion)
Table 28  Automotive Exterior Alloy Market, By Type, 2014–2021 (Thousand Metric Tons)
Table 29  Automotive Exterior Alloy Market, By Type, 2014–2021 (USD Billion)
Table 30  Automotive Other Applications Alloy Market, By Type, 2014–2021 (Thousand Metric Tons)
Table 31  Automotive Other Applications Alloy Market, By Type, 2014–2021 (USD Billion)
Table 32  Global Automotive Alloy Market, By Region, 2014-2021 (Thousand Metric Tons)
Table 33  Global Automotive Alloy Market, By Region Type, 2014-2021 (USD Billion)
Table 34  North American Automotive Alloy Market Size, By Country, 2014-2021 (Thousand Metric Tons)
Table 35  North America: Automotive Alloy Market Size, By Country, 2014-2021 (USD Billion)
Table 36  North America: Automotive Alloy Market Size, By Vehicle Type, 2014-2021 (Thousand Metric Tons)
Table 37  North America: Automotive Alloy Market Size, By Vehicle Type, 2014-2021 (USD Billion)
Table 38  U.S.: Automotive Alloy Market Size, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 39  U.S.: Automotive Alloy Market Size, By Alloy Type, 2014-2021 (USD Billion)
Table 40  Canada: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 41  Canada: Automotive Alloy Market Size, By Alloy Type, 2014-2021 (USD Billion)
Table 42  Mexico: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 43  Mexico: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 44  Europe: Automotive Alloy Market, By Country, 2014-2021 (Thousand Metric Tons)
Table 45  Europe: Automotive Alloy Market, By Country, 2014-2021 (USD Billion)
Table 46  Europe: Automotive Alloy Market, By Vehicle Type, 2014-2021 (Thousand Metric Tons)
Table 47  Europe: Automotive Alloy Market, By Vehicle Type, 2014-2021 (USD Billion)
Table 48  U.K.: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 49  U.K.: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 50  Germany: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 51  Germany: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 52  France: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 53  France: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 54  Asia-Oceania: Automotive Alloy Market, By Country, 2014-2021 (Thousand Metric Tons)
Table 55  Asia-Oceania: Automotive Alloy Market, By Country, 2014-2021 (USD Billion)
Table 56  Asia-Oceania: Automotive Alloy Market, By Vehicle Type, 2014-2021 (Thousand Metric Tons)
Table 57  Asia-Oceania: Automotive Alloy Market, By Vehicle Type, 2014-2021 (USD Billion)
Table 58  China: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 59  China: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 60  Japan: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 61  Japan: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 62  India: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 63  India: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 64  South Korea: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 65  South Korea: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 66  RoW: Automotive Alloy Market, By Country Type, 2014-2021 (Thousand Metric Tons)
Table 67  RoW: Automotive Alloy Market, By Country Type, 2014-2021 (USD Billion)
Table 68  RoW: Automotive Alloy Market, By Vehicle Type, 2014-2021 (Thousand Metric Tons)
Table 69  RoW: Automotive Alloy Market, By Vehicle Type Type, 2014-2021 (USD Billion)
Table 70  Brazil: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 71  Brazil: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 72  Russia: Automotive Alloy Market, By Alloy Type, 2014-2021 (Thousand Metric Tons)
Table 73  Russia: Automotive Alloy Market, By Alloy Type, 2014-2021 (USD Billion)
Table 74  Expansions, 2013-2015
Table 75  Agreements, Partnerships & Joint Ventures, 2013-2015
Table 76  Mergers & Acquisitions, Supply Contracts & Others, 2013-2015
Table 77  New Product Developments, 2013-2015


List of Figures (59 Figures)

Figure 1  Research Design
Figure 2  Research Methodology Model
Figure 3  Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4  Impact of Disposable Income on Vehicle Sales, 2014
Figure 5  Roadways Infrastructure: Road Network (Km), By Country, 2011
Figure 6  Global Automotive Alloy Market, By Type: Bottom-Up Approach
Figure 7  Asia-Oceania Projected to Be the Largest Market for Automotive Alloys During the Forecast Period
Figure 8  Automotive Alloy Market: Key Countries
Figure 9  Demand for Lightweight Solutions Estimated to Drive the Market Adoption of Aluminium Alloys
Figure 10  Application of Aluminium Estimated to Be the Largest in Powertrain Segment, in 2016
Figure 11  Passenger Cars Estimated to Be the Largest Market for Automotive Alloys
Figure 12  Attractive Market Opportunities in Automotive Alloy Market
Figure 13  Canada, Mexico, and U.S. to Be the Fastest Growing Markets for Automotive Alloys, 2016–2021
Figure 14  Demand for Automotive Steel Expected to Decline Owing to Higher Weight
Figure 15  Powertrain to Dominate the Automotive Alloy Market During the Forecast Period
Figure 16  Passenger Car Segment to Dominate the Automotive Alloys Market
Figure 17  Growing Vehicle Production in Asia Oceania and North America is Projected to Drive the Automotive Alloy Market
Figure 18  Alloy Life Cycle Analysis in Automobiles, 2016
Figure 19  Global Automotive Alloy Market
Figure 20  Weight Reduction to Improve Vehicle Efficiency is A Major Driver for Automotive Alloy Market
Figure 21  Growing Vehicle Production, By Region
Figure 22  Europe: Increasing Average Weight of Passenger Cars vs Co2 Emissions
Figure 23  Porters Five Forces Analysis
Figure 24  Automotive Alloys Market, By Alloy Type, 2015 (USD Billion)
Figure 25  Automotive Steel Market, By Region, 2016 vs 2021 (USD Billion)
Figure 26  Automotive Aluminium Market, By Region, 2016 vs 2021 (USD Billion)
Figure 27  Automotive Magnesium Market, By Region, 2016 vs 2021 (USD Billion)
Figure 28  Global Automotive Alloy Market: the Passenger Car Segment Estimated to Hold the Largest Share
Figure 29  Passenger Car Alloy Market: Steel Estimated to Be the Dominant Alloy Market During the Forecast Period
Figure 30  Global LCV Alloy Market Outlook, 2016–2021 (USD Billion)
Figure 31  Global HCV Alloy Market: Steel Estimated to Dominate the Market During the Forecast Period
Figure 32  Powertrain and Structural Areas are Estimated to Hold the Maximum Market Share in Automotive Alloys Market
Figure 33  Steel is Estimated to Hold the Maximum Market Size in Structural Applications
Figure 34  Automotive Powertrain Alloy Market: 2014–2021 (USD Billion)
Figure 35  Aluminium Estimated to Grow at the Highest CAGR in Exterior Applications
Figure 36  Automotive Alloy Market, By Region Snapshot, 2016 (USD Billion)
Figure 37  North American Market Snapshot (2016): Projected to Grow at the Highest CAGR From 2016 to 2021
Figure 38  Europe Market Snapshot (2016): France Projected to Grow at the Highest CAGR From 2016 to 2021
Figure 39  Asia-Oceania Market Snapshot (2016): Largest Market for Automotive Alloys
Figure 40  Companies Have Adopted Expansions as the Key Growth Strategy, 2010-2015
Figure 41  Market Evaluation Frame Work: Expansions has Fuelled the Demand for Automotive Alloy Market, 2013 – 2015
Figure 42  Alcoa, Inc. Grew at the Fastest Rate Between 2010 and 2014
Figure 43  Battle for Market Share: Expansion Was the Key Strategy
Figure 44  Region-Wise Revenue Mix of Five Market Players
Figure 45  Arcelormittal SA: Company Snapshot
Figure 46  Arcelormittal SA: SWOT Analysis
Figure 47  Alcoa Inc.: Company Snapshot
Figure 48  Alcoa Inc.: SWOT Analysis
Figure 49  Novelis Inc.: Company Snapshot
Figure 50  Novelis Inc: SWOT Analysis
Figure 51  UACJ Corporation: Company Snapshot
Figure 52  Norsk Hydro ASA: Company Snapshot
Figure 53  Norsk Hydro ASA: SWOT Analysis
Figure 54  Thyssenkrupp AG: Company Snapshot
Figure 55  Thyssenkrupp AG: SWOT Analysis
Figure 56  Kobe Steel, Ltd.: Company Snapshot
Figure 57  AMG Advanced Metallurgical Group: Company Snapshot
Figure 58  Constellium N.V.: Company Snapshot
Figure 59  Nippon Steel & Sumitomo Metal Corp.: Company Snapshot

The global automotive alloy market size is projected to grow at a promising CAGR of 7.69% during the forecast period, to reach USD 177.47 Billion by 2021. Increasing production of automobiles coupled with increasing need to reduce a vehicle’s weight are the major factors driving this growth.

The market for aluminium is estimated to witness a high growth owing to increasing adoption of aluminium in multiple automotive applications by globally established OEMs. The rising average weight of the vehicle due to integration of various systems has led to OEMs to consider using lighter materials for the vehicles. The demand for lightweight materials by OEMs has directly influenced the suppliers of raw materials and increased competition in the market. For instance, Novelis Inc. (U.S.) developed the Advanz 7000-series of aluminium products which can be used to manufacture automotive components such as bumper systems, and door intrusion beams, among others.

The Asia-Oceania region includes emerging economies such as India, China, Indonesia, and Thailand, among others. Increase in disposable income coupled with rise in population levels has driven the demand for automobiles in this region. The geographical advantages of Asia-Oceania region and government support for industrialization have reduced the production costs.

The size of the market for alloys used in LCVs, in terms of value, is projected to grow at a fast pace in the automotive alloy market during the forecast period due to increasing adoption of aluminium, especially in the North American region. The passenger car segment is estimated to be the largest market for alloys because of the increasing demand for transportation and new hybrid and electric automotive models.

Automotive OEMs have been spending heavily on the research and development of new alloys for powertrain applications to reduce the weight without reducing the strength of the components. This has led the alloy manufacturers to develop innovative aluminium applications in the powertrain.

Alloy Market for Automotive

The major restraints considered in the study include high cost and engineering barriers. These factors could negatively affect the demand for adoption of lightweight alloys.

ArcelorMittal S.A. is one of the largest suppliers of steel to the automotive industry with approximately 13.3 Million tonnes of flat steel deliveries, generating revenue of USD 12.6 Billion from sales to automotive manufacturers in 2014. However, owing to stringent regulations governing vehicular emissions, OEMs are focusing on using lightweight materials, especially aluminium, to reduce weight. This has increased the competition for the company as OEMs have started to shift from steel to aluminium. The company has invested in developing new steel products which can compete with aluminium in the automotive industry. The company plans to invest USD 20 million to establish a research and development center in Brazil. The company also supplied its lightweight products to Honda Motor Company (Japan).

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