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 more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/automotive-and-transportation
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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