Boosted by rapidly growing eco-friendly vehicle markets
The market is growing exponentially for eco-friendly vehicles including electric vehicles (EVs), and hydrogen vehicles – in line with the expansion of public awareness of the environment due to such factors as COVID-19, and climate change. Therefore, the necessity of light materials used in eco-friendly vehicles is being raised and the demand for such materials in the market is thus expected to increase significantly.
According to the Korea Automobile Manufacturers Association (KAMA), global automobile sales showed a sharply reduced level as of 2020 amidst the ever-highest-level records of EVs. KAMA estimates that the eco-friendly vehicle market will occupy over 20 percent of the entire vehicle market through the expected annual growth of 20~40 percent over the next ten years from now.
The lightening of electric vehicle’s weight is an essential task in the transition toward the eco-friendly era. For electric vehicles, the lightening of body, suspension, etc. is necessary to achieve the anticipated level of mileage efficiency, considering that the vehicles’ entire weight is increased with the battery (400~500kg) and driving motor (approximately 150kg).
The issue of the vehicle’s lightening is largely classified into three sections – structure, construction, and materials. Among them, the lightening of materials is most highly evaluated in the lightening of an electronic vehicle’s total weight.
For this reason, there is expected to be increased demand for new products such as electrical steel plates, high tension steel plates, aluminum, and Carbon Fiber Reinforced Plastic (CFRP), all of which have a higher tensile strength compared to the existing products.
In particular, electrical steel plates, which enable the electrical energy to be efficiently used, are being produced to be used in eco-friendly vehicle more than 50 percent among such new products.
In addition, general steel plates, which were being widely utilized in various areas of vehicles – body, chassis, trunk rear, etc., are being replaced with aluminum.
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