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NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET FORECAST 2022-2030

The North America lightweight materials for EV market is anticipated to record a CAGR of 19.58% during the forecasted years of 2022 to 2030, reaching a revenue share of $5761.03 million by 2030.

NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET FORECAST 2022-2030

North America 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

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The North America lightweight materials for EV market is anticipated to record a CAGR of 19.58% during the forecasted years of 2022 to 2030, reaching a revenue share of $5761.03 million by 2030.

The market growth of the region is determined by key factors, such as the rising development and adoption of electric vehicles, as well as the norms and policies for discounts in tariff rates. However, the North America lightweight materials for EV market is likely to be hindered by market players’ shifting investments and focus toward other regional markets.

North America Lightweight Materials For EV Market

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The North America lightweight materials for EV market growth evaluation includes the assessment of the United States and Canada. The United States has continued to remain a dominating market in North America, primarily considering the consumption and manufacturing of electric vehicles in the current scenario. The growing focus from automobile manufacturers, including multinational brands such as Ford and Tesla, low operational costs, as well as supportive norms & policies of local governments and states also play an essential role in fueling the growth of the electric vehicle industry in the United States. In addition, through its Advanced Technology Vehicles Manufacturing (ATVM) Loan Program, the Loan Programs Office (LPO) has $17.7 billion in available funding for offering low-cost debt capital for fuel-efficient automobiles and eligible component production in the country. Aligning with this, the eligible components include materials for light-weighting, such as aluminum, composite, and advanced steels.

On the other hand, in May 2022, Stellantis announced an investment of $2.8 billion for increasing the manufacturing of electric vehicles at two of its plants in Canada. BMW Group Canada also commissioned a survey depicting that 25% of Canadians are considering the purchase of an electric vehicle in the next two years, subsequently representing the increasing need for electric vehicle production. Therefore, these factors are set to proliferate the lightweight materials for EV market growth in North America during the forecast period.

The North America lightweight materials for EV market is segmented into material type and end use. The material type segment includes metals, composites, and plastics & elastomers. Metal and alloys are utilized in electric vehicle components such as the body, transmission systems, and suspension. Metals like high-strength steel, aluminum, titanium, and magnesium are often used in the manufacturing of automobiles, as well. Metallic components are also employed in vehicles in order to raise rigidity since they are durable and stable.

The automotive industry typically uses composite materials, including thermoset, carbon fiber-reinforced polymers (CFRP), thermoplastic, natural fiber-reinforced polymers (NFRP), and glass fiber-reinforced polymers (GFRP). Composite materials have also been acknowledged by OEMs as the ideal replacement for traditional heavyweight materials, such as aluminum and steel.

Some of the leading companies operating in the North America lightweight materials for EV market include BASF SE, Celanese Corporation, etc.

Celanese Corporation, headquartered in the United States, is a global chemical and specialty materials company that manufactures and engineers a wide variety of products. It primarily operates via three business segments. These include Engineered Materials, the Acetyl Chain, and Acetate Tow.

The company’s product portfolio caters to a diverse set of material type applications, such as automotive, chemical additives, consumer and medical, energy storage, construction, filtration, paints and coatings, food and beverage, paper and packaging, consumer and industrial adhesives, and performance industrial and textiles.

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 The United States and Canada
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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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • EXPANSION OF EV DRIVE RANGE
        • STRINGENT GOVERNMENT REGULATIONS ON VEHICLE EMISSIONS
      • KEY RESTRAINTS
        • HIGH COST OF LIGHTWEIGHT MATERIALS
    1. 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
    2. MARKET BY MATERIAL TYPE
      • METALS
        • BODY
          • BODY IN WHITE
          • CLOSURES
          • OTHERS
        • SUSPENSION
        • TRANSMISSION SYSTEM
        • OTHERS
      • COMPOSITES
        • BODY
        • SUSPENSION
        • OTHERS
      • PLASTICS & ELASTOMERS
        • BODY
        • INTERIOR
        • OTHERS
    1. MARKET BY END USE
      • BATTERY ELECTRIC VEHICLE
      • PLUG-IN HYBRID VEHICLE
      • HYBRID ELECTRIC VEHICLE
    2. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. 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

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – LIGHTWEIGHT MATERIALS FOR EV MARKET

    TABLE 2: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY MATERIAL TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 3: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY MATERIAL TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 4: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY METALS, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 5: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY METALS, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 6: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 7: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 8: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COMPOSITES, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 9: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COMPOSITES, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 10: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY PLASTICS & ELASTOMERS, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 11: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY PLASTICS & ELASTOMERS, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 12: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY END USE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 13: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY END USE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 14: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 15: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 16: KEY PLAYERS OPERATING IN NORTH AMERICA 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: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY MATERIAL TYPE, IN 2021

    FIGURE 7: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY METALS, 2022-2030 (IN $ MILLION)

    FIGURE 8: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY METALS, IN 2021

    FIGURE 9: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, 2022-2030 (IN $ MILLION)

    FIGURE 10: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY BODY, IN 2021

    FIGURE 11: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY IN WHITE, 2022-2030 (IN $ MILLION)

    FIGURE 12: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY CLOSURES, 2022-2030 (IN $ MILLION)

    FIGURE 13: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)

    FIGURE 14: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY SUSPENSION, 2022-2030 (IN $ MILLION)

    FIGURE 15: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY TRANSMISSION SYSTEM, 2022-2030 (IN $ MILLION)

    FIGURE 16: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)

    FIGURE 17: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY COMPOSITES, 2022-2030 (IN $ MILLION)

    FIGURE 18: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY COMPOSITES, IN 2021

    FIGURE 19: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, 2022-2030 (IN $ MILLION)

    FIGURE 20: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY SUSPENSION, 2022-2030 (IN $ MILLION)

    FIGURE 21: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)

    FIGURE 22: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY PLASTICS & ELASTOMERS, 2022-2030 (IN $ MILLION)

    FIGURE 23: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY PLASTICS & ELASTOMERS, IN 2021

    FIGURE 24: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BODY, 2022-2030 (IN $ MILLION)

    FIGURE 25: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY INTERIOR, 2022-2030 (IN $ MILLION)

    FIGURE 26: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY OTHERS, 2022-2030 (IN $ MILLION)

    FIGURE 27: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, GROWTH POTENTIAL, BY END USE, IN 2021

    FIGURE 28: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY BATTERY ELECTRIC VEHICLE, 2022-2030 (IN $ MILLION)

    FIGURE 29: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY PLUG-IN HYBRID VEHICLE, 2022-2030 (IN $ MILLION)

    FIGURE 30: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, BY HYBRID ELECTRIC VEHICLE, 2022-2030 (IN $ MILLION)

    FIGURE 31: NORTH AMERICA LIGHTWEIGHT MATERIALS FOR EV MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 32: UNITED STATES LIGHTWEIGHT MATERIALS FOR EV MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 33: CANADA LIGHTWEIGHT MATERIALS FOR EV MARKET, 2022-2030 (IN $ MILLION)      

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. MARKET BY MATERIAL TYPE
      • METALS
        • BODY
          • BODY IN WHITE
          • CLOSURES
          • OTHERS
        • SUSPENSION
        • TRANSMISSION SYSTEM
        • OTHERS
      • COMPOSITES
        • BODY
        • SUSPENSION
        • OTHERS
      • PLASTICS & ELASTOMERS
        • BODY
        • INTERIOR
        • OTHERS
    1. MARKET BY END USE
      • BATTERY ELECTRIC VEHICLE
      • PLUG-IN HYBRID VEHICLE
      • HYBRID ELECTRIC VEHICLE

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