The global automotive lightweight materials market is estimated to grow significantly, at a CAGR of 6.9%, during the forecast period. The major factors contributing to the market growth include the stringent regulations for the emission of fuel and growing initiatives for weight reduction.
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Automotive Lightweight Materials Market, Size, Share,
Analysis Report & Forecast to 2025
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The global automotive lightweight materials market is estimated to grow significantly, at a CAGR
of 6.9%, during the forecast period. Lightweight materials play an important role in the automotive
industry. The use of these materials is likely to increase significantly over the decades since even a 10%
reduction in vehicle weight yields a 6.5% reduction in fuel consumption, which in turn results in reduced
carbon emissions.
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According to the European Commission report, cars in Europe are responsible for around 12% of total
EU emissions of carbon dioxide, the main greenhouse gas. The 2015 and 2021 targets represent
reductions of 18% and 40% respectively compared with the 2007 fleet average of 158.7 grams of CO2
per kilometer (g CO2/km). The average emissions level of a new car sold in 2017 was 118.5 grams of CO2
per kilometer, significantly below the 2015 target of 130g. By 2021, phased in from 2019, the fleet
average to be achieved by all new cars is 95 grams of CO2 per kilometer. In such a scenario, every
kilogram weight of the vehicle is important.
Global population has increased and is continuing to increase; however, the fundamental laws of motion
have adhered to their bases since the beginning of time. According to the United Nations, the global
population is marked at 7.6 billion currently and is expected to reach 8.6 billion in 2030. Also, today 55%
of the world’s p