Automotive Material Market Trends and Analysis by Technology, Companies and Forecast to 2028
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Automotive Material Market Report Overview
OEM manufacturers and suppliers are building new plants and production lines to enhance the capacity of the production process. Many companies have announced an investment in its material products. Introducing a new hybrid compound line will help produce value-added compounds for the automotive industry.
The Automotive Material Market research report provides an overview of the automotive industry scenario regarding the future outlook in terms of global trends, drivers, technologies, and developments. The analysis also covers a regional overview across five regions – Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe – highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.
Key Companies | · 3M
· Novelis · Bridgestone · Posco · Benteler · AsahiKasei · Aichi Steel · Henkel · Covestro · Dow |
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Automotive Material Market Dynamics
The ongoing technological advancement of materials has shaped the growth of the automotive industry and the auto part market. Technical, economic, environmental, and legal considerations should always be made when choosing materials and processes. The main forces behind technological change, as well as the processes of technology replacement, diffusion, and transference that they entail, are given special consideration in the development of products.
OEMs and suppliers are collaborating for research and development. For instance, for the delivery of low-carbon steel, which will be used to start car production in European facilities in 2026, the BMW Group has signed a contract with Salzgitter. By 2030, the company wants to use low-carbon steel in its European plants to meet more than 40% of demand, cutting CO2 emissions by up to 400,000 tons annually.
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Automotive Material Market – Key Innovations
Bridgestone, a tire manufacturer, has created special tires for the Lightyear One, the world’s first long-range solar electric vehicle, which has an incredible 725km range thanks to cleverly engineered energy efficiency. By the end of this year, consumers will be able to purchase the Lightyear One, the first long-distance solar electric vehicle in the world. While being up to three times more energy-efficient than other electric vehicles on the market, it boasts a record-breaking range of 725 kilometers. Through the use of a sizable solar roof, the vehicle is directly charged by the sun, resulting in a decrease in CO2 emissions and a rise in efficiency.
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Automotive Material Market - Competitive Landscape
The companies operating in the automotive material market are:
- 3M
- Novelis
- Bridgestone
- Posco
- Benteler
- AsahiKasei
- Aichi Steel
- Henkel
- Covestro
- Dow
In April 2022, 3M announced the launch of 3M Ceramic Coating, the company’s new long-lasting protective finish for automotive paint, metal, plastic trim, wheels, and glass. The robust new item delivers the advantages customers anticipate and is made to allow stores to tap into this expanding area of the personal auto market.
Automotive Material Market Analysis by Companies
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Automotive Material Market - Latest Developments
- In Oct 2023, Sumito Metal Mining Co. Ltd SMM agreed to make a strategic investment in Nano One Materials Corporation, a technological business with patented technologies for the sustainable production of lithium-ion battery cathode materials.
- In Sep 2023, Panasonic Energy Reports Commercial and Technological Progress with Canada’s NMG on Graphite Material Development to Improve the North American EV Battery Supply Chain.
Scope
It includes an analysis of the following –
- Trends & Drivers: Provides an overview of the current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.
- Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
- PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.
- The analysis also covers a regional overview across regions-Asia-Pacific, Europe, North America, South America, and MEA highlighting sector size and growth drivers for the region.
- Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.
- Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.
Reasons to Buy
Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region. The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances. The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion. To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.
Novelis
Bridgestone
Posco
Benteler
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Frequently asked questions
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What are the factors driving the automotive material market?
The ongoing technological advancement of materials has shaped the growth of the automotive industry and the auto part market.
-
What are some of the key innovations in the automotive material market?
Bridgestone, a tire manufacturer, has created special tires for the Lightyear One, the world’s first long-range solar electric vehicle, which has an incredible 725km range thanks to cleverly engineered energy efficiency.
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Who are the key players operating in the automotive material market?
The companies operating in the automotive material market are 3M, Novelis, Bridgestone, Posco, Benteler, AsahiKasei, Aichi Steel, Henkel, Covestro, and Dow.
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