Automotive Structural Sheet Market, By Type (Aluminum, Steel, and Alloys), By Application (Passenger Vehicle, and Commercial Vehicle), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Automotive Structural Sheet Market was valued at US$ 18.4 billion in 2024 and is projected to grow at a CAGR of 2.9% to reach US$ 24.0 billion by 2034.

An automotive structural sheet is a kind of sheet metal that is utilized in car manufacturing. Its purpose is to shield the car's body from the weather while simultaneously giving it strength and stiffness. It comes in a range of thicknesses and sizes and is usually constructed from steel, aluminium, or another metal. Used in the manufacture of cars, trucks, and other vehicles, the automotive structural sheet is a crucial part of every vehicle. Sheet metal is responsible for the chassis' rigidity, coverings, engine parts, and other body sections.

It is essential for giving an automobile the strength and stiffness needed to guarantee stability and safety. The body panels, doors, roofs, and hoods of automobiles are typically made of sheet metal. The majority of the car's primary sections, including the engine, transmission, and other parts, also act as a support structure. Additionally, for better overall driving comfort, the sheet metal aids to lessen harshness, vibration, and noise.

A growing requirement for lightweight and highly-strength components in the automobile industry has led to a growth in the market for automotive structural sheets in recent years. Because electric cars (EVs) need lightweight components to better their driving range and cut down on energy usage, the shift toward EVs has accelerated market expansion.

Manufacturers increasingly utilize innovative materials, including composites, high-strength steel, and aluminum, to meet strict functionality and security criteria and achieve excellent fuel economy. The need for creative structural sheet solutions is anticipated to fuel market expansion in the upcoming years as the automotive sector transitions toward electrification and driverless cars. However, the major restraining factors for the target market are the variability in raw material expenses along with the complications associated with its manufacturing.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Automotive Structural Sheet Market Key Drivers:

Rise in the manufacturing and sales of electric vehicles

• A major driving factor for the automotive structural sheet market is the growing sales and preference of customers worldwide for electric vehicles (EVs). Due to EVs' increasing popularity, there is a growing demand for lightweight materials. Longer driving range on a single charge is a key component in the adoption of EVs and lighter automobiles.
• For instance, in April 2024, according to a report published by the International Energy Agency, by 2023, there will be 40 million electric vehicles on the road owing to the over 14 million new registrations worldwide. Sales of electric cars increased by 3.5 million in 2023 compared to 2022, a 35% rise over the previous year. This is around six times higher than it was only five years ago in 2018. The weekly amount of new registrations in 2023 was over 250,000, surpassing the annual total ten years prior in 2013. In 2023, electric vehicles made up about 18% of all cars sold, an increase from 14% in 2022 and just 2% in 2018 and five years earlier. These patterns show that growth is still strong as electric car markets advance.

Greater need for lightweight components  

• It is anticipated that the strong demand for lightweight materials in car manufacturing will result from the high demand for weight reduction in performance vehicles. The market has grown more rapidly due to the trend of weight reduction because of its high specific strength and low density. The goal of the move toward lighter materials in cars is to increase their overall fuel economy. Consequently, to reduce emission rates, manufacturers are using lightweight materials. Automakers are also adopting lighter metal components with low width and high explicit strength more frequently.

Automotive Structural Sheet Market Restrains:

Variations in prices for basic materials

• One major factor impeding the growth of the automotive structural sheet metal market is the fluctuating cost of steel and aluminium. Unexpected price increases can cause businesses to rethink their material selections and budgets. Furthermore, utilizing a more extensive range of materials may make the manufacturing process more complex. In order to handle various materials properly, automakers may need to make investments in new machinery or modify their current production processes.

Automotive Structural Sheet Market is segmented based on type, application, and region.

Type Insights

• Aluminum: Aluminum type is a dominating segment of this sector for the target market. Aluminum is anti-corrosive and lightweight, the most used material for automotive sheet metal components because of its excellent strength-to-weight ratio. The final automobile products and car parts are lighter because of the amazing strength-to-weight ratio. The most popular sheet metal for auto restoration is an aluminum coil. Because aluminium is lightweight and relatively easy to handle, it is perfect for dashboard applications. Using it with color anodizing is popular right now.
• Steel: Steel sheets are used extensively in the items made for the car and transportation industries. These shapes fit most automotive part shapes, including brackets, frames, chassis, plates, coverings, and shields. It's the ideal procedure for making cars. Stainless steel, high-strength steel, high-carbon, low-carbon, and galvanized steel are among the steel used in the automotive industry for body panels.
• Alloys: Different metals are combined to create alloys with improved properties, while other materials could have special qualities. Advanced High-Strength Steel (AHSS) illustrates the the combination of steel's strength and aluminum's ability to reduce weight c. Other alloys are being investigated for lighter and more durable materials for upcoming cars,
• Application Insights
• Passenger Vehicle: This application type category involves using lightweight elements to improve performance and fuel economy in passenger cars. Structural sheets are essential to passenger car safety and stability. They contribute significantly to the reduction of harshness, vibrations, and noise.
• Commercial Vehicle: This category of application involves the use of tough and long-lasting sheets, which are often needed for heavy-duty applications in commercial vehicles. As a result, structural sheets are needed for these vehicles to be durable and able to carry large loads.

Regional Insights:

Automotive Structural Sheet Market Regional Insights

• North America market is estimated to witness tremendous growth because the car industry is well-established in this region. Another important factor supporting the automobile structural sheet industry in this area is the presence of large manufacturers. The creation of lightweight materials as a solution to the issue of high emission rates has been a significant trend in this area.
• The Asia Pacific market is estimated to witness strong expansion due to the region's increasing car production, which is one of the primary motivators. This region's rising living standards and improved infrastructure have positively affected the car sector.
• Europe's market is expanding steadily, which encourages the use of aluminum and lightweight steel while placing a heavy emphasis on environmental restrictions.
• Latin America market is an emerging region with room for expansion, one that better economic conditions and building infrastructure might further fuel.
• Middle East & Africa market is in its developmental stages with capacity for future expansion provided it meets infrastructure restrictions and increases car production.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Automotive Structural Sheet Market report based on type, application and region:

Automotive Structural Sheet Market, By Type:

• Aluminum
• Steel
• Alloys

Automotive Structural Sheet Market, By Application:

• Passenger Vehicle
• Commercial Vehicle

Automotive Structural Sheet Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Automotive Structural Sheet Market include Associated Materials, ABC Sheet Metal, A&E Manufacturing Company, ATAS International, BlueScope Steel, Bud Industries, General Sheet Metal Works, NCI Building Systems, Nucor Corporation, and United States Steel Corporation.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• In April 2023, Valin ArcelorMittal Automotive Steel in China declared that the second project's construction hahad begun. As part of the project, aew continuous galvanization line with a yearly capacity of 450,000 tons will be installed a. Becausef ththese upgrades, theusiness can now produce two million tons annually.

• Associated Materials *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• ABC Sheet Metal
• A&E Manufacturing Company
• ATAS International
• BlueScope Steel
• Bud Industries
• General Sheet Metal Works
• NCI Building Systems
• Nucor Corporation
• United States Steel Corporation

"*" marked represents similar segmentation in other categories in the respective section.