Automotive Commodities

Automotive Commodities Market by Type (Energy Commodities, Metals, Plastics & Polymers), Vehicle Type (Commercial Vehicles, Passenger Cars), End-user - Global Forecast 2024-2030

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[195 Pages Report] The Automotive Commodities Market size was estimated at USD 383.72 billion in 2023 and expected to reach USD 409.01 billion in 2024, at a CAGR 6.90% to reach USD 612.21 billion by 2030.

Automotive Commodities Market
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Automotive commodities refer to the raw materials and components essential in the manufacturing and assembly of vehicles. This encompasses a wide range of materials such as steel, aluminum, plastics, rubber, glass, and increasingly rare earth elements and batteries for electric vehicles (EVs). The primary driver for the automotive commodities market is the global demand for vehicles, which hinges on economic growth, increasing consumer purchasing power, and urbanization. Technological advancements and the shift towards electric vehicles (EVs) have significantly influenced demand patterns for various commodities, particularly lithium, nickel, and cobalt. Despite the growth prospects, volatility in raw material prices, driven by geopolitical tensions, trade policies, and supply chain disruptions, poses a considerable risk for automotive commodities manufacturers. However, advances in material science, offering lighter, stronger, and more eco-friendly materials, present opportunities for market growth.

Automotive Commodities Market - Global Forecast 2024-2030
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Type: Rising shift towards renewable energy commodities for modern day vehicles

Energy commodities encompass resources such as petroleum products, electricity, and renewable energy resources, vital for the automotive sector. Petroleum products are used for fuel and as a base for lubricants, while electricity is increasingly in demand for electric vehicles (EVs). Renewable energy sources are gaining attention for sustainable manufacturing processes and charging solutions. Metals are pivotal commodities in the automotive industry, with steel, aluminum, copper, and rare earth elements being particularly crucial. Steel is a widely used material for its strength and durability, forming the vehicle's body and framework. Aluminum, prized for its lightweight, is key in enhancing fuel efficiency and reducing emissions. Copper is essential for electrical components, especially in EVs that are used more extensively. Rare earth elements are vital for high-performance magnets in electric motors. The demand for these metals is governed by trends in automotive design, fuel efficiency standards, and the electrification of vehicles. Plastics and polymers have revolutionized the automotive industry by enabling lighter, more fuel-efficient vehicle production without compromising safety or performance. These materials are used in a variety of applications, from interior features, including dashboards and seats, to exterior components, such as bumpers and body panels. Rubber, particularly synthetic rubber, is indispensable in the automotive industry and is primarily used to manufacture tires. The demand for rubber in the automotive sector is also influenced by the development of sustainable materials and technologies to reduce environmental impact, including using bio-based feedstocks and recycling initiatives.

End-user: Demand for a broad spectrum of automotive commodities from automakers

Auto parts manufacturers are entities specialized in producing various components that are vital for the construction and functioning of vehicles. These components range from engine parts to electrical systems, body panels, and interior features. This sector is a critical end-user of automotive commodities, requiring high-quality materials such as steel, aluminum, plastics, and advanced composites to create parts that meet the industry's rigorous standards. Automakers, also known as original equipment manufacturers (OEMs), design, engineer, and assemble vehicles. They are crucial in the automotive industry, integrating various parts and systems into finished automobiles ready for the consumer market. As end-users, automakers demand a broad spectrum of automotive commodities, from raw materials for manufacturing vehicle frames to electronic components for advanced driver-assistance systems (ADAS) and interior furnishings for passenger comfort.

Regional Insights

In the Americas, the automotive commodities market has shown significant growth, driven by a rebound in automotive manufacturing and sales. Innovations in electric vehicle (EV) production have also spurred a surge in demand for specific commodities, such as lithium and sodium for batteries and rare earth elements for motors. Europe presents a positive growth landscape with a growing trend of electrification in the automotive industry. This shift significantly influences the demand for automotive commodities, with an increased interest in sustainable and recyclable materials. The Middle East is also contributing to the regional market, with growing interest in luxury and electric vehicles. Africa, while still an emerging market, is witnessing growth in automotive manufacturing and assembly, driven by foreign investment and an improving economic landscape. APAC emerged as the fastest-growing market for automotive commodities, buoyed by its strong manufacturing base and expanding automotive sector. China and Japan are at the forefront, with innovation in EVs and hybrid technologies driving demand for new commodities. Additionally, the region's focus on sustainability has spurred interest in recyclable and environmentally friendly automotive materials.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Automotive Commodities Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automotive Commodities Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Automotive Industry Embraces Eco-Friendly Aluminum

    The newly inaugurated Cassopolis facility by Norsk Hydro, situated in Michigan, is at the forefront of producing aluminum billets and ingots, predominantly catering to the automotive industry's burgeoning demands. As part of Hydro's commitment to sustainable manufacturing, the plant is equipped with state-of-the-art technologies such as low-pressure casting and an advanced laser-marking system that together enhance the traceability of products and the quality of alloys. [Published On: 2024-01-01]

  • JSW Group-MG Motor India deal

    SAIC Motor, a prominent Chinese automotive giant, has entered a joint venture with the JSW Group to bolster the operations of its Indian subsidiary, MG Motor India. The partnership is poised to initiate several strategic projects, including enhancing local sourcing, expanding production capabilities with a new manufacturing plant, and improving the electric vehicle (EV) charging infrastructure. [Published On: 2023-12-01]

Key Company Profiles

The report delves into recent significant developments in the Automotive Commodities Market, highlighting leading vendors and their innovative profiles. These include AMG Advanced Metallurgical Group N.V., ArcelorMittal, Asahi Kasei Corporation, BASF SE, China BaoWu Steel Group Corporation Limited, China Steel Corporation, Constellium Group, Continental AG by Schaeffler Group, Cooper-Standard Holdings Inc., Covestro AG, Dana Holding Corporation, DuPont de Nemours, Inc., Evonik Industries AG, Hyundai Motor Group, JFE Steel Corporation, JSW Group, Magna International Inc., Martinrea International Inc., Nippon Steel Corporation, Norsk Hydro ASA, Nucor Corporation, Owens Corning, Posco International Corporation, Royal DSM, Saudi Basic Industries Corporation, Shin-Etsu Chemical Co., Ltd., Tata Steel Limited, and UACJ Corporation.

Market Segmentation & Coverage

This research report categorizes the Automotive Commodities Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Type
    • Energy Commodities
    • Metals
    • Plastics & Polymers
    • Rubber
  • Vehicle Type
    • Commercial Vehicles
    • Passenger Cars
  • End-user
    • Auto Parts Manufacturers
    • Automakers

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Automotive Commodities Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automotive Commodities Market?
  3. What are the technology trends and regulatory frameworks in the Automotive Commodities Market?
  4. What is the market share of the leading vendors in the Automotive Commodities Market?
  5. Which modes and strategic moves are suitable for entering the Automotive Commodities Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Automotive Commodities Market, by Type
  7. Automotive Commodities Market, by Vehicle Type
  8. Automotive Commodities Market, by End-user
  9. Americas Automotive Commodities Market
  10. Asia-Pacific Automotive Commodities Market
  11. Europe, Middle East & Africa Automotive Commodities Market
  12. Competitive Landscape
  13. Competitive Portfolio
  14. List of Figures [Total: 22]
  15. List of Tables [Total: 284]
  16. List of Companies Mentioned [Total: 28]
Frequently Asked Questions
  1. How big is the Automotive Commodities Market?
    Ans. The Global Automotive Commodities Market size was estimated at USD 383.72 billion in 2023 and expected to reach USD 409.01 billion in 2024.
  2. What is the Automotive Commodities Market growth?
    Ans. The Global Automotive Commodities Market to grow USD 612.21 billion by 2030, at a CAGR of 6.90%
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    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
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