Rising awareness about fuel emissions has led to automobile manufacturers turning to products that can reduce the weight of vehicles. This is anticipated to drive the global market.
Market Analysis and Insights: Global Lightweight Materials Market
Due to the COVID-19 pandemic, the global Lightweight Materials market size is estimated to be worth US$ 122670 million in 2022 and is forecast to a readjusted size of US$ 162520 million by 2028 with a CAGR of 4.8% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Aluminum accounting for % of the Lightweight Materials global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Automotive segment is altered to an % CAGR throughout this forecast period.
The market is driven by increasing demand for vehicles in North America. Growth in this region is driven by countries such as U.S. and Canada, primarily owing to strong presence of major auto manufacturers. Presence of renewable energy equipment manufacturers in this region also is anticipated to drive the regional market.
Global Lightweight Materials Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Lightweight Materials Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Aluminum
High Strength Steel
Titanium
Magnesium
Polymers and Composites
Others
Segment by Application
Automotive
Aviation
Energy
Others
By Company
SABIC
Formosa Plastics
Alcoa
Allegheny Technology Incorporated
Aleris International
Covestro
3M
Advanced Magnesium Alloys
Akzo Nobel
BASF
Bayer Material Science
Celanese
Cytec Industries
DowDuPont
Dwa Aluminum Composites
Exatec
Fmw Composite Systems
Freightcar America
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina