Electric Vehicle Lightweight Materials Market 2024: Industry Outlook, Growth Analysis, New Trends, Business Strategies And Forecast To 2033 | Major Players Are Badische Anilin- und Sodafabrik, Covestro AG, Toray Industries Inc., Saudi Basic Industries Corp., Solvay SA

The Electric Vehicle Lightweight Materials by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company’s report on Electric Vehicle Lightweight Materials, the market has undergone remarkable expansion, surging from $6.87 billion in 2024 to a projected $8.92 billion in the same year, exhibiting a noteworthy compound annual growth rate (CAGR) of 29.9%. This growth during the historical period can be attributed to a confluence of factors, including the pursuit of fuel efficiency, optimization of range, adherence to stringent emission standards, heightened consumer awareness, manufacturing cost reduction, sustainability focus, urbanization, traffic efficiency, and advancements in composite manufacturing.

Anticipated for the near future is an unprecedented surge in the electric vehicle lightweight materials market, forecasted to reach $23.95 billion by 2028, demonstrating a CAGR of 28.0%. This forward momentum is underpinned by a host of factors, such as burgeoning range expectations, the expansion of charging infrastructure, escalating demand for affordable electric vehicles, the integration of autonomous driving, enhanced energy density in batteries, elevated performance requirements, and the emergence of energy-efficient materials. Key trends in this forecast period encompass technological breakthroughs in materials, innovations in battery technologies, the integration of nanostructured materials, the utilization of lightweight design software, thermal management materials, and collaborative initiatives for material innovation.

The rise in the adoption of electric vehicles (EVs) is expected to boost the growth of the electric vehicle lightweight materials market going forward. An electric vehicle refers to one that can be propelled by an electric motor that gets power from a battery and can be recharged from an external source. The next generation of electric vehicles may be largely dependent on lightweight materials. Electric vehicles’ weight can be significantly decreased by using composite materials made of fiber-reinforced plastic polymers, which also improve their performance, longevity, and range. For instance, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, in 2022, electric vehicle sales nearly doubled to 6.6 million in comparison to 2020, bringing the total number of electric vehicles on the road to 16.5 million globally. Electric vehicle sales share climbed by 4% in 2021. In the first half of 2022, 13% of newly purchased vehicles will be electric. Therefore, the rise in the adoption of electric vehicles (EVs) is driving the growth of the electric vehicle lightweight materials market.

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The electric vehicle lightweight materials market covered in this report is segmented –
1) By Material Type: Metals and Alloys, Composites, Plastics, Elastomers, Other Material Types
2) By Vehicle Type: Passenger Cars (Hatchbacks and Sedans), Utility Vehicles (SUVs, MPVs, Compact SUVs), Light Commercial Vehicles, Medium and Heavy-duty Vehicles, Buses and Coaches
3) By Propulsion Type: BEVs, PHVs, HEVs
4) By Application: Battery Packs, Electric Traction Motors, Electronic Components, Power Electronic Controllers, Body-in-White, Chassis and Suspension, Transmissions, Doors, Interiors, Other Applications

Top 5 Major Players:

• Badische Anilin- und Sodafabrik
• Covestro AG
• Toray Industries Inc
• Saudi Basic Industries Corp
• Solvay SA

…..

31. Global Electric Vehicle Lightweight Materials Market Competitive Benchmarking
32. Global Electric Vehicle Lightweight Materials Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electric Vehicle Lightweight Materials Market
34. Electric Vehicle Lightweight Materials Market Future Outlook and Potential Analysi
35. Appendix

List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Electric Vehicle Lightweight Materials Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Electric Vehicle Lightweight Materials Market, Segmentation By Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Electric Vehicle Lightweight Materials Market, Segmentation By Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

…

Table 75: Badische Anilin- und Sodafabrik Financial Performance
Table 76: Covestro AG Financial Performance
Table 77: Toray Industries Inc. Financial Performance
Table 78: Saudi Basic Industries Corp. Financial Performance
Table 79: Solvay SA Financial Performance

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