Lightweight materials are used to reduce the weight of the vehicle and enhance efficiency. The main purpose behind reducing vehicle weight is to increase fuel efficiency for meeting the stringent vehicular emission regulations across the globe. The main types of lightweight materials used include metals, composites, and plastics.

The global automotive lightweight material market is witnessing significant growth, due to rapid increase in number of vehicles, increasing demand for improved vehicle performance, and government regulations and mandates. Moreover, the increasing demand for reducing harmful gases emission, fuel efficiency, and enhancing driving dynamics of vehicles is supporting the growth of the global automotive lightweight material market.

As the automotive industry is leaned towards the manufacturing of lightweight vehicles in order to reduce CO2 emission, new trends are being witnessed in the global automotive lightweight material market. One of the major trends include the resurgence of carbon fiber (a unique lightweight material). Carbon Fiber is the most suitable choice to meet the expectation of automotive lightweight industry. While cost remains to be a major issue for its commercial use, much advancement has been made for its low cost manufacturing and recycling. In spite of its higher cost, carbon fiber remains to be most promising lightweight material and would carry prime importance during forecast period.

The key companies operating in the global automotive lightweight material market include Owens Corning, Arcelor Mittal S.A., ThyssenKrupp AG, PPG Industries Inc., Novelis Inc., Toray Industries, Inc.,  LyondellBasell Industries N.V., Alcoa Inc., Saudi Basic Industries Corporation and Hexcel Corporation.