Automotive Lightweight Materials Market
Europe , which stood second in the global automotive lightweight materials market in 2015 , is anticipated to remain seated in this position over the forthcoming years . The alarming rise in carbon emission from automobiles , especially in Spain , and the proposed Euro VI regulations to reduce this emission are likely to propel the Europe automotive lightweight materials market substantially in the near future . However , the Asia Pacific market is predicted to exhibit a greater cumulative average growth rate over the forecast period , owing to the rising trend of owning a vehicle , fueled by changing lifestyle and the increasing disposable income of consumers , states the research report .
Stringent Regulations Compel Automakers to Reinvent Products using Automotive Lightweight Materials
“ The global market for automotive lightweight materials has gained substantial impetus from the enforcement of various government regulations intended to curb carbon emission from automobiles ,” says a TMR analyst . Owing to these regulations , automobile manufacturers are now focusing aggressively on reinventing their products through downsizing engines , electric power steering and hollow seat frames , which require lightweight materials . As a result , the demand for these materials has increased remarkably , having a great impact on this market .
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The expansion in the automotive industry in emerging economies is also reflecting positively on the sales of automotive lightweight materials , implying a thriving future for this market . However , the high cost of these materials may limit their uptake , hampering the growth of this market in the near future , states the research study .
The study presented here is based on a report by Transparency Market Research ( TMR ) titled “ Automotive Lightweight Materials Market - Global Industry Analysis , Size , Share , Growth , Trends and Forecast , 2016-2024 .”
By Product Plastics
• Polypropylene ( PP )
Transparency Market Research
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