The global automotive metals market is expected to reach USD
129.33 billion by 2025, at a growing of 4.4%, according to a new report by
Grand View Research, Inc. The global vehicle demand was 78.2 million units in
2011 and increased to 93.9 million units in 2016. Increasing demand for
vehicles worldwide has led to increase in the production of vehicles, thereby
propelling the demand for automotive metals.
Regulatory policies have led to increased
focus towards the production of lightweight and fuel efficient cars which are
anticipated to have a positive impact on the demand for aluminum, magnesium,
high strength steel, and advanced high strength steel. Aluminum is the second
majorly used metals in the automotive industry. It is used to manufacture
engine radiators, wheels, bumpers, suspension parts, engine cylinder blocks,
transmission bodies, hood, doors, and frame of the vehicles.
The automotive metals market is expected to
witness restrained growth due to the high cost of certain metals including
magnesium & aluminum and increasing use of plastics as replacement of
metals in certain automotive components. Some of the majorly used plastics in
automotive industry are polypropylene, polyurethane, polyamide, acrylonitrile
butadiene styrene, and poly vinyl chloride while polyethylene and PMMA are
expected to witness the fastest growth in the demand over the next eight years.
Browse full research report on Automotive
Metal Market:
https://www.grandviewresearch.com/industry-analysis/automotive-metal-market
Further key
findings from the report suggest:
- Aluminum is expected to witness a significant
growth of 6.1%, in terms of revenue, from 2017 to 2025 on account of its
superior properties and lightweight as compared to other metals
- Power train is expected to witness sluggish
growth of 2.5%, in terms of volume, from 2017 to 2025 on account of
growing utilization of plastic & composite materials in this
application
- Heavy commercial vehicles are anticipated to
witness a CAGR of 1.0%, in terms of volume, from 2017 to 2025 on account
of declining production of these vehicles globally
- The declining sales of vehicles and
overstocking of components by the distributors has led to a sluggish growth
of the market in Middle East & Africa. However, the region is expected
to witness growth over the coming years as companies are focusing on the
untapped areas such as car components.
- In November 2016, ArcelorMittal launched three
new products for automotive application including ductibor 1000, usibor
2000, and martlnsite 1700
- In February 2017, Tata Steel signed definitive
agreement with Liberty House Group for the sale of its specialty steel
business
Browse request sample of this report by
Grand View Research:
https://www.grandviewresearch.com/industry-analysis/automotive-metal-market/request/rs1
Grand
View Research has segmented the global automotive metals market on the basis of
product, application, end-use, and region:
Automotive
Metals Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Aluminum
- Steel
- Magnesium
- Others
Automotive
Metals Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2025)
- Body structure
- Power train
- Suspension
- Others
Automotive
Metals End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Passenger cars
- Light commercial
vehicles
- Heavy commercial
vehicles
Automotive
Metals Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Central & South
America
- Brazil
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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