Electric Vehicle Lightweight Materials Market Report 2026

The electric vehicle lightweight materials market size has grown exponentially in recent years. It will grow from $10.87 billion in 2025 to $13.75 billion in 2026 at a compound annual growth rate (CAGR) of 26.5%. The growth in the historic period can be attributed to ev adoption growth, fuel efficiency improvement needs, regulatory emission norms, advancements in alloy processing, early adoption of lightweight metals.

The electric vehicle lightweight materials market size is expected to see exponential growth in the next few years. It will grow to $35.73 billion in 2030 at a compound annual growth rate (CAGR) of 27%. The growth in the forecast period can be attributed to range extension requirements, cost reduction in ev platforms, innovation in multi-material design, scalable lightweight manufacturing, sustainability targets. Major trends in the forecast period include increasing use of aluminum and magnesium alloys, growing adoption of composite materials, focus on vehicle weight reduction, integration of lightweight materials in battery systems, demand for structural optimization.

The rising adoption of electric vehicles (EVs) is expected to drive the growth of the electric vehicle lightweight materials market going forward. Electric vehicles are powered by electric motors that draw energy from rechargeable batteries, which can be charged from external sources. Next-generation EVs increasingly rely on lightweight materials to improve performance, durability, and driving range. The use of composite materials, such as fiber-reinforced plastic polymers, helps reduce vehicle weight while enhancing efficiency. For instance, in March 2024, according to the International Energy Agency, a France-based intergovernmental organization, around 14 million electric cars were registered globally in 2023, marking a 35% increase from 10.5 million in 2022. EVs accounted for 18% of total car sales in 2023, up from 14% in 2022, with weekly registrations exceeding 250,000. Battery electric vehicles represented 70% of the total electric car stock in 2023. Therefore, the growing adoption of EVs is fueling the demand for lightweight materials in the automotive sector.

Major companies in the electric vehicle lightweight materials market are focusing on innovations such as advanced thermal insulation additives to strengthen their market position. Advanced thermal insulation additives are materials that enhance a system’s ability to resist heat transfer. For instance, in May 2023, Cabot Corporation, a US-based specialty chemicals and performance materials company, introduced the ENTERA™ aerogel particle portfolio. Designed for ultra-thin thermal barriers in EV lithium-ion batteries, these aerogel products can be incorporated into blankets, pads, sheets, films, foams, and coatings. This innovation supports improved thermal management, energy efficiency, and extended driving range for electric vehicles.

In May 2023, Linamar Corporation, a Canada-based manufacturing company, acquired the Battery Enclosures business of Dura Automotive Systems Shiloh LLC for US$325 million. The acquisition aims to expand Linamar’s EV component manufacturing capabilities and accelerate its electrification strategy. Dura Automotive Systems Shiloh LLC, based in the US, specializes in designing, engineering, and producing lightweight vehicle structural technologies.

Major companies operating in the electric vehicle lightweight materials market report include Covestro AG, Toray Industries Inc., Saudi Basic Industries Corp., Solvay SA, Celanese Corporation, Novelis Inc, LyondellBasell Industries Holdings B.V., Constellium SE, SGL Carbon SE, ThyssenKrupp AG, Teijin Limited, Evonik Industries AG, Lanxess AG, Alcoa Corporation, ArcelorMittal, Hindalco Industries Limited, Norsk Hydro ASA, UACJ Corporation, Kobe Steel Ltd., AMG Advanced Metallurgical Group N.V., Materion Corporation, Mitsubishi Chemical Corporation, Sumitomo Bakelite Co. Ltd., Huntsman Corporation.

Asia-Pacific was the largest region in the electric vehicle lightweight materials market in 2025, and is expected to be the fastest-growing region in the electric vehicle lightweight materials market during the forecast period. The regions covered in the electric vehicle lightweight materials market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric vehicle lightweight materials market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric vehicle lightweight materials market consists of sales of steel, glass fiber, carbon fiber, and advanced plastics and composite materials. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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