Automotive Material Market Trends, Sector Overview and Forecast to 2028

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Published: March 29, 2024 Report Code: GDAUS020324-ST

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Automotive Material Market Report Overview

Manufacturers are focusing on developing more fuel-efficient and eco-friendly materials for cars. For this purpose, automakers are progressively incorporating lightweight materials such as aluminum, carbon fiber, and magnesium into various car components. This helps enhance fuel efficiency, extend the range of electric vehicles, and improve handling.​

The automotive material market research report provides a comprehensive overview of the automotive material market trends and drivers. The report also provides a detailed overview of technological developments and PESTER analysis. Furthermore, evaluate strategic initiatives taken by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings in the sector across regions, countries, and top applicants.

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Key Companies 3M, Novelis, Bridgestone, Posco, and Benteler
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Automotive Material Market Trends

The key trends shaping the automotive material market are the incorporation of lightweight materials in vehicles and increasing consumer awareness is catalyzing manufacturers to create more sustainable solutions.

Increasing consumer awareness for sustainability: Manufacturers are placing a growing emphasis on creating more sustainable solutions. Car makers are progressively integrating recycled materials such as plastic and textiles into various components to minimize waste and reduce environmental impact. Manufacturers are also using natural fibers like flax and hemp in composites as alternatives to petroleum-based plastics, contributing to an eco-friendly manufacturing process.

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Automotive Material Market - Competitive Landscape

 A few of the top companies operating in the market are:

  • 3M
  • Novelis
  • Bridgestone​
  • Posco
  • Benteler​

The Bridgestone Factory in Burgos has integrated solar energy into the manufacturing process in collaboration with Endesa X. It is one of the most significant self-consumption projects in Spain and has been completed at the Bridgestone facility in Burgos.

Bridgestone is also taking strategic actions to aid the automotive material market growth. In April 2022, Bridgestone Americas revealed the completion of a series of demonstration tires manufactured with a certain percentage of recycled and renewable materials. This includes synthetic rubber crafted from recycled plastics and natural rubber sourced from desert shrubs cultivated in Arizona.

Automotive Material Market Analysis by Companies

Automotive Material Market Analysis by Companies

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Automotive Material Market - Latest Developments

A few of the latest developments in the automotive material market are as follows:

  • 5th December 2023: BENTELER is set to broaden its portfolio with more CO2-reduced products. BENTELER Automotive Division had a Memorandum of Understanding with global steel and mining leader ArcelorMittal. The companies will collaborate on various sustainability initiatives aimed at minimizing CO2 emissions.
  • 17th October 2023: Chalmers University of Technology researchers have devised efficient methods for recycling metals from used electric car batteries. With this innovative approach, lithium and aluminum can be recovered first. This minimizes waste and potential lithium loss, streamlining the recycling process for valuable metals crucial in manufacturing new batteries.

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Scope

  • Trends & Drivers: Provides an overview of the current key trends and drivers that will influence the sector’s growth in the future.

  • Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.

  • PESTER Analysis: Provides a detailed understanding of political, economic, social, technological, environmental, and regulatory factors impacting the sector.

  • Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018-2028, and spot estimates for 2023 and 2028. The analysis also covers a regional overview across four regions highlighting sector size and growth drivers.

  • Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.

  • Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.

Reasons to Buy

  • The report provides OEMs and component suppliers’ latest information on market evolution to help formulate sales and marketing strategies.

  • The report provides authentic market data with a high level of detail to help gain a competitive edge.

  • The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.

  • The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.

  • The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.

  • The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.

Table of Contents

  • 1. Executive Summary

  • 2. Part 1: Main Trends and Drivers

    • 2.1. Trends

    • 2.2. Drivers

  • 3. Part 2: Technologies and Developments

  • 4. PESTER Analysis

  • 5. Latest Developments

  • 6. Key Companies

  • 7. Patent Analysis

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