Automotive Body-in-White Market to 2025 by Material Type - Global Analysis and Forecast
BIW market is expected to grow US$ 125.6 billion by 2025 from US$ 88.7 billion in 2016. The sales of BIW is largely influenced by numerous factors. Amongst the factors, material type markets influence their sales. Aluminium, steel, magnesium and CFRP are the material types for BIW. These types are expected to have a large impact on the growth of BIW market.
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High rate of global passenger car production in Asian countries such as China, Japan, Korea and India provide significant opportunities for the global suppliers of BIW to increase the market share in these countries. These countries contribute almost 90% of the total production of passenger cars across Asia Pacific, and will strongly support the overall growth of global BIW market.
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Increasing use of lightweight materials in the development of electric vehicles for better efficiency on enhanced use and better mileage is also one of the major reason for the growth of the BIW market. For this, the electric vehicles are manufactured using different materials such as steel grades range, high cost aluminium and CFRP composites.