Automotive Lightweighting Market

[352 Pages Report] The automotive lightweighting market is projected to grow from USD 73.9 billion in 2022 to USD 101.5 billion by 2027, at a CAGR of 6.5% for the same period. The base year for the report is 2021, and the forecast period is from 2022 to 2027. The market would witness growth owing to driving factors such as the increased weight due to the addition of comfort, safety features, and emission control devices to comply with the stringent emission, safety, and fuel consumption regulations globally.

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Market Dynamics

DRIVER: Advancing manufacturing methods and technologies to drive the demand for lightweight materials

The automotive industry has traditionally used several manufacturing methods to produce various components and parts. Generally, hot-forming and cold-forming manufacturing technologies have been used for panel and body part productions. These manufacturing methods were limited to conventional materials such as some grades of steel, aluminum, and other similar metals. Furthermore, some manufacturing technologies were unsuitable for producing complicated panel shapes and designs.

With the increasing need for vehicles with new-age designs and features, conventional manufacturing methods are being replaced with advanced manufacturing technologies. Some of these technologies include additive manufacturing, resin transfer molding, micro injection molding and others. The key advantages for incorporating such advanced manufacturing methods were the ability to manufacture new materials that are relatively light in weight and stronger.

Furthermore, these advanced manufacturing technologies are designed to operate with minimal or no material wastage. For instance, additive manufacturing technology involves relatively least material wastage. It is a subtractive process in most conventional manufacturing methods, resulting in relatively higher material wastage. This manufacturing technology has greatly driven the growth of carbon fiber material, which has one of the highest weight-to-strength ratios. The technology is also compatible with other lightweight materials, including various grades of plastics, composites, and metals. For instance, BMW (Germany) has demonstrated its additive manufacturing capabilities in the 2020 model i8 Roadster sports car.

Such new processes and technologies greatly aid the automotive industry in meeting the increasing demand for lightweight. With the help of these advanced manufacturing systems, many leading OEMs are developing vehicles that are relatively more fuel efficient and perform better. In some cases, these advanced manufacturing technologies have aided the substitution of materials, resulting in weight and cost reduction.

RESTRAINT: Difficulty in joining dissimilar materials

Mixed Material Design (MMD) has greatly enabled automotive lightweighting by designing components and parts with two different materials. However, because of the difficulty in the welding or joining process of two dissimilar materials, it isn't easy to utilize the advantages of the MMD fully. This is mainly because of different materials' physical properties, densities, and welding temperatures. The proper joining of these two materials is essential for the structural integrity and strength of the parts. It is a major safety concern if joining any critical components fails. For instance, there is a high difference in most of the properties between aluminum and steel, which can have adverse aftereffects, including corrosion, thermal expansion, and others. To overcome this, many OEMs use special adhesives and rivets to join two dissimilar metals. However, proper welding or other stronger joining methods are in development.

The complete incorporation of MMD can greatly aid in many automotive applications. For instance, the inner shell of the vehicle, such as the door and other panel skins, can be made using the lightest materials, and a relatively stronger material can be used to reinforce them. This can greatly reduce the weight without compromising the structural strength of the application. This can also aid in the new design of the crumble zones with MMD in the same structure and reduce the number of cross members in the monocoque chassis. This MMD can also be incorporated to control the NVH levels in the vehicle by using selective materials with higher noise absorption properties.

OPPORTUNITY: The development of advanced and affordable electric and autonomous vehicles

The increasing trend of electrification in the automotive industry is mainly due to the global demand for sustainable mobility and the increasing emission regulations. Many leading automotive players, such as Volkswagen (Germany), Tesla Motors (US), Ford (US), General Motors(US), Toyota (Japan), and others, have ventured into the electric vehicle segment. Electric vehicles are relatively more efficient than conventional ICE vehicles. Along with the increase in the sales of electric vehicles, the battery range has become one of the primary buying criteria for customers. However, the battery cost is one of the major costs associated with the manufacturing of an EV. The batteries are also one the heaviest components in an EV, with around 30-40% of the vehicle's curb weight. With such a demand for vehicles with longer ranges, incorporating larger batteries is not a feasible option as it increases the cost and weight of the vehicles and also reduces the usable space. This increase in the vehicle weight further compensates for the vehicle's performance and battery range. For these reasons, the OEMs prefer automotive lightweight in electric vehicles, resulting in a relatively longer battery range with the same battery capacity.

Furthermore, the autonomous vehicles market is also gradually developing. A few surveys suggest that around 90 percent of these autonomous vehicles will be shared and only around 10% of them will be personal vehicles. This sharing of the vehicle demands good space for occupying more passengers comfortably. Smaller batteries can be used when such shared autonomous vehicles are incorporated with lightweighting, which can greatly result in more space for increased passenger occupancy. For all these reasons, the OEMs widely incorporate various lightweighting materials in developing their electric and autonomous vehicles. For instance, in 2022, Tesla Motors (US) incorporated automotive lightweighting in their Tesla Model Y Long Range (LR) and Performance variants. Earlier, both of these variants weighed around 2003 kg. But there was a significant weight reduction in the LR variant with a reduction of 24 Kgs. Furthermore, with the rapidly growing electric vehicle market, such incorporation of automotive lightweighting by the OEMs, more affordable electric vehicles with increased driving range can be expected.

CHALLENGE: Supply chain difficulties and the high cost of lightweight materials challenge the incorporation in mid-range cars and commercial vehicles

Incorporating advanced lightweight materials to reduce the vehicle's overall weight is a relatively more viable option. However, some of these materials are not widely available around the world. This involves various supply chain difficulties and the costs that are associated with it. For instance, magnesium is one of the key materials used in the automotive industry for various applications. Some automotive components generally made using magnesium include steering column bracket, steering wheel frame, cylinder head cover, gearbox body, intake housings and manifolds, wheels, and so on.

Globally, China is the largest producer of magnesium, and it satisfies around 90-95% of the magnesium needed for various European industries. For instance, the lightweight wheels of the Porsche 911 GT2 RS (Germany) and Lamborghini Huracán STO (Italy) were made using magnesium alloys. A small disruption in the supply chain, such as COVID-19 and the Suez Canal blockage, greatly impacts the price and automotive production. In such situations, incorporating lightweight materials becomes difficult in different parts of the world. These challenges are not only limited to procurement but also the recycling of these materials or components. With the increasing demand for sustainable mobility, a part made of advanced or composite lightweighting materials such as carbon fiber or mixed materials is relatively more difficult to recycle.

The manufacturing cost of automotive components made of advanced lightweight materials is higher than conventional materials. For instance, aluminum is about three times more expensive than steel, and according to World AutoSteel, the automotive production cost is 60% more when materials such as aluminum are used. Similarly, component manufacturing with materials such as titanium and magnesium costs more than that with aluminum. For these reasons, the automakers are limiting the incorporation of such lightweight materials in entry and mid-range passenger and commercial vehicles.

Frames are expected to dominate the automotive lightweighting market during the forecast period

The frames segment is expected to dominate the automotive lightweighting market during the forecast period. The frame is one of the most significant components of an automobile that gives strength and stability to a vehicle under different conditions, with the body of an engine and axle assemblies fixed to it. The frame of a vehicle is conventionally made of steel and contribute to a major share in the weight of a vehicle. The OEMs incorporate various advanced lightweighting materials, including high-strength steel, aluminum, and composites. For instance, the 2018 Audi A8 was introduced with a lightweight frame that was made using lightweighting High strength steel, magnesium, and carbon fiber composites. Reducing the weight of the frame in heavy vehicles is not feasible since it will reduce the load-bearing capacity of the vehicle. Composites are used to construct frames for high-performance sports cars and electric vehicles like the BMW i3 and i8. Such incorporation of lightweighting in frames to reduce the weight and increase the structural strength of the vehicles, is expected to drive the market growth further.

The metals segment will dominate the electric & hybrid vehicle lightweight market during the forecast period

It is expected that the metals segment will dominate the electric & hybrid vehicle lightweight market during the forecast period. This is mainly because of the incorporation of lightweight metals in the body structures and chassis of electric vehicles. Three kinds of materials are extensively used in the electric & hybrid vehicle lightweight market—high strength steel (HSS), aluminum, and magnesium & titanium. These materials are relatively lighter and stronger than steel. These metals are generally incorporated in the body structures, powertrain, suspension, and other vehicle components. Furthermore, since the battery contributes to most of the overall weight of the electric vehicle, it is essential to incorporate advanced lightweighting in the body structure to ensure safety and reduce weight effectively. This incorporation of automotive lightweighting by the EV OEMs such as Tesla (US) using lightweight aluminum in its Model Y, X, and S, is expected to drive the market's growth.

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Asia Pacific is projected to dominate the Automotive lightweighting market by 2027

According to MarketsandMarkets analysis and validations from primary respondents, Asia Pacific is estimated to be the largest market for small passenger cars, backed by strong demand in the automotive industry. The growth of the passenger car segment will positively influence the automotive lightweighting market in the region. The region also has the presence of many of the major global automotive manufacturers. For instance, Volkswagen Group (Germany), Mercedes (Germany), Ford (US), Renault (France), and others have already set up manufacturing units in these countries. Furthermore, the increasing demand for fuel-efficient vehicles to comply with stringent emission norms will drive the automotive lightweighting market. The automotive lightweighting market, by region, is expected to grow in the Asia Pacific region rapidly. This is mainly because of the strong demand in the automotive industry in countries including China, India, and others. Some of the other key driving factors are the increasing demand for fuel-efficient and less emitting vehicles in this region. Furthermore, the availability and affordability of raw materials in countries such as China, is a key driving factor for the rapid growth of the market in this region.

Key Market Players & Start-ups

The automotive lightweighting market is led by globally established players such as BASF SE (Germany), Covestro AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Toray Industries, Inc. (Japan), ArcelorMittal (Germany), Thyssenkrupp AG (Germany), Novelis, Inc. (US), Alcoa Corporation (US), Owens Corning (US), and Stratasys Ltd. (US). These companies adopted expansion strategies and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in the high-growth automotive lightweighting market.

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Scope of the Report

The study categorizes the automotive lightweighting market based on material, application, components, vehicle type, electric & hybrid vehicle type,  electric vehicle, by material type, UAV by material type, micro-mobility by material type, and region at regional and global levels.

By Material

• Metal
• Composite
• Plastic
• Elastomer
• Others

By Application

• Body in White
• Chassis and Suspension
• Powertrains
• Closures
• Interiors
• Others

By Components

• Frames
• Wheels
• Bumpers & Fenders
• Engines & Exhausts
• Transmission
• Doors
• Hood & Trunk Lids
• Seats
• Instrument Panels
• Fuel Tanks

By Vehicle Type

• Passenger Vehicles
• Light Commercial Vehicles
• Trucks
• Buses

Electric & Hybrid Vehicle Typ

• BEV
• PHEV
• FCEV
• Truck
• Bus

Electric Vehicle, by Material Type

• Metal
• Aluminum
• Composites
• Plastic
• Elastomer

UAV, By Material Type

• Aluminum
• Composites
• Plastics
• Others

Micro mobility By Material Type

• Aluminium
• Composites
• Plastics
• Others

By Region

• Asia Pacific,
• Europe,
• North America, and
• Rest of The World

Recent Developments

• In October 2022, Lyondellbasell Industries Holdings B.V. developed a PP compound made up of PP compound material which has reduced the weight of the vehicle by 10kg. It will help in foaming of parts, reducing the density of the material, thin walling of parts, can become a substitute to metal and eliminates the paint for cars.
• In August 2022, Toray Industries, Inc., has launched its 3D printer which can produce automotive parts, power tools and other equipment’s which are heat resistance, high strength, and has good precision in designing.
• In May 2022, BASF SE developed the Ultradur® B4335G3 HR for the protection for sensitive electronic devices which are exposed to extreme challenging surroundings. For example, protecting sensors when exposed to different climatic condition, surface contact to water and salt.
• In June 2021, Covestro developed a new composite technology named as “Continuous Fiber-Reinforced Thermoplastic Polymers” (CFRTP) which is light in weight and robust in structure, reducing fuel consumption of the cars, emission gas, and obeys UN goals for developing sustainable material.
• In April 2020, ArcelorMittal has introduced new S-in solution for battery electrical vehicles providing advanced high strength steel for BIW and battery packs which are lightweight, safety, cost, and sustainable.

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