Automotive metals are metals used in the manufacturing of automotive bodies or vehicle parts, such as steel, aluminum, and others. Chassis, body, and drivetrain components include bumpers, engine oil systems, doors, body panels, exhaust systems, suspensions & steering systems, fuel supply systems, wheels, transmission systems, and tire parts are some of automotive parts where metals are used in the manufacturing.
Globally, increasing demand for vehicles, owing to population growth, improving standard of living, and increasing disposable income, is expected to accelerate vehicle production. Additionally, technological advancements and their rapid adoption in the automotive industry are expected to furthe
r fuel the growth of the automotive metal market during the forecast period, 2019–2026.
Growing cost of Automotive metal and increasing use of high-performance plastics such as polyamide, polypropylene, polyurethane (PUR), poly-vinyl-chloride (PVC), acrylonitrile butadiene styrene, POM (polyoxymethylene) and others can be considered as the key restraints hampering market growth.
Key Players
Some of the prominent players operating in the automotive metal market are ArcelorMittal SA, Voestalpine Steel Division, Magna International Inc., Alcoa Corporation, Hyundai Mobis, Schaeffler AG, Benteler International, Gestamp, Dana Limited, and GKN plc.