The Asia-Pacific lightweight materials for EV market is estimated to record a CAGR of 19.69% during the forecasting years of 2022 to 2030, capturing a revenue share of $13900.71 million by 2030.
ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET FORECAST 2022-2030
Asia-Pacific Lightweight Materials for EV Market by Material Type (Metals, Composites, Plastics & Elastomers) Market by End Use (Battery Electric Vehicle, Plug-in Hybrid Vehicle, Hybrid Electric Vehicle) by Geography
The Asia-Pacific lightweight materials for EV market is estimated to record a CAGR of 19.69% during the forecasting years of 2022 to 2030, capturing a revenue share of $13900.71 million by 2030.
The market growth of the region is driven by various government incentives as well as support in emerging economies such as China and India, and market players’ focus and investment to achieve economies of scale on the basis of production capabilities available in the Asia-Pacific. However, the Asia-Pacific lightweight materials for EV market growth will likely be obstructed by the purchasing costs of vehicles and underdeveloped electric vehicle charging infrastructure.
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The Asia-Pacific lightweight materials for EV market growth analysis constitutes the assessment of China, Japan, India, South Korea, and Rest of Asia-Pacific. As of 2021, China has continued to be progressive in terms of both sales and manufacturing of electric vehicles. Moreover, the country is also a leading market for players providing electric vehicles. According to a new reform by the National Development and Reform Commission as well as the Chinese Ministry of Commerce, China eliminated the restrictions on foreign ownership of local automotive joint ventures from January 1, 2022, thereby enabling absolute overseas ownership of automotive firms. Through this, foreign corporations will be able to completely control automobile brands, allowing for higher investments in some of the leading automakers globally.
On the other hand, the Ministry of Economy, Trade and Sector (METI) in Japan has adopted several initiatives to boost the automotive industry while subsequently advancing its growth. Across the Asia-Pacific, Japan also plays a pivotal role as a manufacturer of automobiles, with the notable presence of well-recognized and established automakers. These include Toyota, Nissan, Honda, and Suzuki, among others. As a result, such factors are anticipated to propel the lightweight materials for EV market growth in the Asia-Pacific during the forecasting years.
The Asia-Pacific lightweight materials for EV market is segmented into material type and end use. The end use segment comprises battery electric vehicle, plug-in hybrid vehicle, and hybrid electric vehicle. Fully electric vehicles equipped with batteries, as well as no internal combustion engines, are termed battery electric vehicles, or BEVs. The battery pack, recharged from the grid, supplies the energy required to power the automobile. BEVs are also considered zero-emissions vehicles as they do not emit air pollution hazards, toxic exhaust emissions, or those produced by traditional gasoline-powered vehicles.
Conversely, in hybrid electric vehicles (HEVs), an electric propulsion powertrain system is utilized in conjunction with a conventional internal combustion engine (ICE). The vehicle’s electric powertrain enables it to emit lower emissions, in addition to greater fuel efficiency compared to regular automobiles. Also, Japan has one of the largest HEV fleets, followed by the United States.
Key firms operating in the Asia-Pacific lightweight materials for EV market include Novelis Inc, Toray Industries Inc, etc.
Toray Industries, headquartered in Japan, is engaged in the processing, manufacturing, as well as sales of fibers and textiles, life science, carbon fiber composite materials, environment and engineering, performance chemicals, and others. The company’s products are utilized in various industries, including automotive, construction, water treatment, apparel, medical, and industrial materials.
TORELINA™ PPS resin is characterized as a thermoplastic engineering plastic. Toray engages in total manufacturing, ranging from base polymers to compounds, in addition to delivering a wide variety of grades.
Report Synopsis
Report Scope | Details |
| Market Forecast Years | 2022-2030 |
| Base Year | 2021 |
| Market Historical Years | 2018-2021 |
| Forecast Units | Revenue ($ Million) |
| Segments Analyzed | Material Type and End Use |
| Countries Analyzed | China, Japan, India, South Korea, and Rest of Asia-Pacific |
| Companies Analyzed | BASF SE, Celanese Corporation, Constellium SE, Covestro AG, LyondellBasell Industries NV, Novelis Inc, Sabic, SGL Carbon SE, Solvay SA, Thyssenkrupp AG, Toray Industries Inc |
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- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- MARKET DYNAMICS
- KEY DRIVERS
- EXPANSION OF EV DRIVE RANGE
- STRINGENT GOVERNMENT REGULATIONS ON VEHICLE EMISSIONS
- KEY RESTRAINTS
- HIGH COST OF LIGHTWEIGHT MATERIALS
- KEY DRIVERS
- KEY ANALYTICS
- IMPACT OF COVID-19 ON LIGHTWEIGHT MATERIALS FOR EV MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- VALUE CHAIN ANALYSIS
- MARKET BY MATERIAL TYPE
- METALS
- BODY
- BODY IN WHITE
- CLOSURES
- OTHERS
- SUSPENSION
- TRANSMISSION SYSTEM
- OTHERS
- BODY
- COMPOSITES
- BODY
- SUSPENSION
- OTHERS
- PLASTICS & ELASTOMERS
- BODY
- INTERIOR
- OTHERS
- METALS
- MARKET BY END USE
- BATTERY ELECTRIC VEHICLE
- PLUG-IN HYBRID VEHICLE
- HYBRID ELECTRIC VEHICLE
- GEOGRAPHICAL ANALYSIS
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- ASIA-PACIFIC
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- BUSINESS EXPANSIONS & DIVESTITURES
- COMPANY PROFILES
- BASF SE
- CELANESE CORPORATION
- CONSTELLIUM SE
- COVESTRO AG
- LYONDELLBASELL INDUSTRIES NV
- NOVELIS INC
- SABIC
- SGL CARBON SE
- SOLVAY SA
- THYSSENKRUPP AG
- TORAY INDUSTRIES INC
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – LIGHTWEIGHT MATERIALS FOR EV MARKET
TABLE 2: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY MATERIAL TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 3: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY MATERIAL TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 4: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY METALS, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 5: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY METALS, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 6: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 7: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COMPOSITES, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 9: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COMPOSITES, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 10: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY PLASTICS & ELASTOMERS, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 11: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY PLASTICS & ELASTOMERS, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 12: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY END USE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 13: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY END USE, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 14: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 15: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 16: KEY PLAYERS OPERATING IN ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET
TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 19: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VENDOR LANDSCAPE
FIGURE 5: VALUE CHAIN ANALYSIS
FIGURE 6: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY MATERIAL TYPE, IN 2021
FIGURE 7: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY METALS, 2022-2030 (IN $ MILLION)
FIGURE 8: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY METALS, IN 2021
FIGURE 9: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, 2022-2030 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY BODY, IN 2021
FIGURE 11: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY IN WHITE, 2022-2030 (IN $ MILLION)
FIGURE 12: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY CLOSURES, 2022-2030 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY SUSPENSION, 2022-2030 (IN $ MILLION)
FIGURE 15: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY TRANSMISSION SYSTEM, 2022-2030 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COMPOSITES, 2022-2030 (IN $ MILLION)
FIGURE 18: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY COMPOSITES, IN 2021
FIGURE 19: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, 2022-2030 (IN $ MILLION)
FIGURE 20: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY SUSPENSION, 2022-2030 (IN $ MILLION)
FIGURE 21: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)
FIGURE 22: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY PLASTICS & ELASTOMERS, 2022-2030 (IN $ MILLION)
FIGURE 23: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY PLASTICS & ELASTOMERS, IN 2021
FIGURE 24: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, 2022-2030 (IN $ MILLION)
FIGURE 25: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY INTERIOR, 2022-2030 (IN $ MILLION)
FIGURE 26: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)
FIGURE 27: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY END USE, IN 2021
FIGURE 28: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BATTERY ELECTRIC VEHICLE, 2022-2030 (IN $ MILLION)
FIGURE 29: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY PLUG-IN HYBRID VEHICLE, 2022-2030 (IN $ MILLION)
FIGURE 30: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, BY HYBRID ELECTRIC VEHICLE, 2022-2030 (IN $ MILLION)
FIGURE 31: ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 32: CHINA LIGHTWEIGHT MATERIALS FOR EV MARKET, 2022-2030 (IN $ MILLION)
FIGURE 33: JAPAN LIGHTWEIGHT MATERIALS FOR EV MARKET, 2022-2030 (IN $ MILLION)
FIGURE 34: INDIA LIGHTWEIGHT MATERIALS FOR EV MARKET, 2022-2030 (IN $ MILLION)
FIGURE 35: SOUTH KOREA LIGHTWEIGHT MATERIALS FOR EV MARKET, 2022-2030 (IN $ MILLION)
FIGURE 36: REST OF ASIA-PACIFIC LIGHTWEIGHT MATERIALS FOR EV MARKET, 2022-2030 (IN $ MILLION)
- GEOGRAPHICAL ANALYSIS
- ASIA-PACIFIC
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- ASIA-PACIFIC
- MARKET BY MATERIAL TYPE
- METALS
- BODY
- BODY IN WHITE
- CLOSURES
- OTHERS
- SUSPENSION
- TRANSMISSION SYSTEM
- OTHERS
- BODY
- COMPOSITES
- BODY
- SUSPENSION
- OTHERS
- PLASTICS & ELASTOMERS
- BODY
- INTERIOR
- OTHERS
- METALS
- MARKET BY END USE
- BATTERY ELECTRIC VEHICLE
- PLUG-IN HYBRID VEHICLE
- HYBRID ELECTRIC VEHICLE
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