The global automotive metal market size 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.
For Full Research Report On Automotive Metal Market Visit Here:
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
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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 Metal
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Aluminum
- Steel
- Magnesium
- Others
Automotive Metal
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Body structure
- Power train
- Suspension
- Others
Automotive Metal
End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Passenger cars
- Light commercial vehicles
- Heavy commercial vehicles
Automotive Metal
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.
For more info visit @ https://www.grandviewresearch.com
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