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.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/automotive-metal-market
Further
key findings from the study 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: http://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
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-automotive-metal-market
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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