Global lightweight materials Market Size, Industry Growth Analysis, Applications, Segmentation and Forecasts 2028
Global lightweight materials market
Factors such as increasing awareness regarding the importance of reducing fuel emissions among organizations as well as among individuals and rising efforts taken by the people for the same are contributing to the growth of global lightweight materials market over the forecast period. Further, increasing developments in the automobile sector and electronics sector owing to high sales caused by people’s rising disposable incomes, growing demand for safety and comfort in these electronic devices and appliances and rising awareness regarding the convenience caused by these vehicles are positively impacting the growth of global lightweight materials market over the forecast timeframe. Apart from that rising technological advancements and adoption of latest technologies in several industries for offering enhanced products and services to the products and to keep up with the market trends, are further contributing to the growth of global lightweight materials market in coming years.
The global lightweight materials market accounted for a market revenue of USD 141.2 billion and is projected to grow at a CAGR of more than 6.5% over the forecast period.
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Major aim of the companies in using lightweight options for the parts and products is to reduce weight of the product, without having any negative impact on the performance or cost of the device. These materials are made up of light weight metal and their alloys such as aluminum, steel and others. The present COVID-19 situation ceased the industry growth due to shutdown of factories and industries.
Moreover, rising integration and application of several technologies such as IoT and sensor technology to increase quality of the product and offer all the latest features for convenience and comfort as well as increasing research and development activities in all sectors is creating major opportunities for the growth of global lightweight materials market in coming years. Lightweight materials are easy to carry and reduce the risk of accidents and other unfortunate events caused due to them, hence they are gaining popularity among several industries, thereby fueling the growth of global lightweight materials market.
Key players in the market include Hexcel Corporation, ArcelorMittal SA, Formosa Plastics Group, Titanium Metals Corporation, Cytec Solvay Group, Bayer AG, SABIC, Allegheny Technologies Incorporated, Alcoa Inc
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Key segments across lightweight materials market
- Material Type Overview, 2019-2028, (USD Billion)
- Metals & Alloys
- High strength steel
- Others (Beryllium, etc.)
- Carbon Fiber Reinforced
- Glass Fiber Reinforced
- Others (Polyamide etc.)
- Metals & Alloys
- Application Overview, 2019-2028, (USD Billion)
- Aerospace and Defense
- Energy Sector
- Electronic and Electrical industry
- Construction Industry
- Consumer Goods
- Regional Overview, 2019-2028, (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
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What does the report include?
- The study on the global lightweight materials includes qualitative factors such as drivers, restraints, and opportunities.
- The study covers the competitive landscape of existing/prospective players in the industry and their strategic initiatives for the development
- The study covers a qualitative and quantitative analysis of the market segmented on the basis of derivative and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Some Major Points from TOC:
Chapter 1. Introduction
1.1. Introduction to the Study
1.2. Market Definition and Scope
1.3. Key Stakeholders
1.4. Key Questions Answered
Chapter 2. Research Methodology
2.1.1. Data Capture Sources
2.1.2. Primary Sources
2.1.3. Secondary Sources
2.2. Market Size Estimation
2.3. Market Forecast
2.4. Data Triangulation
2.5. Assumptions and Limitations
Chapter 3. Market Outlook
3.2. Market Dynamics
3.3.1. The increased awareness of gas emissions led to lighter vehicle components being used by manufacturers to improve miles
3.3.2. Introduction of government regulations regarding efficiency, and road and vehicle safety supports the growth of the lightweight materials industry.
3.4.1. High cost of production
3.4.2. Untapped potential
3.5. Market opportunities
3.6. Porter’s Five Forces Analysis
3.7. PEST Analysis
3.8. COVID-19 Impact Analysis
Chapter 4. Lightweight Materials Market by Material Type
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code – Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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