Lightweight Materials Market

Lightweight Materials Market to Record an
Impressive value USD 225.3 billion by 2024
“Global Lightweight Materials Market is expected to reach USD 225.3 billion by 2024.
Lightweight materials are the materials used to reduce vehicle weight to reduce
emissions, enhance performance, and to lower oil and fuel consumption.”
Global Lightweight Materials Market is expected to reach USD 225.3 billion by 2024. Lightweight materials are the
materials used to reduce vehicle weight to reduce emissions, enhance performance, and to lower oil and fuel
consumption. Lightweight materials play important role in enhancing the fuel economy of latest cars while maintaining
their performance and safety. The weight reduction plays important role in reducing CO2 for any source of energy like
fuel cells, oil, biofuels, or electric. Recycling, mass reduction, and manufacturing process are dominant in the transport
segment in accomplishing pollutant gases and CO2 emission reduction. The Lightweight Materials Market is estimated to
grow at a significant CAGR of 8.9% over the future period as the scope and its applications are rising enormously across
the globe.
Rising energy efficiency, composite material provide more protection upon impact, and advances performance are
documented as major factors of Lightweight Materials Market that are estimated to enhance the growth in the years to
come. Also, these materials can be easily installed, low in cost, and maintains its standard are the factors that may boost
overall market in coming years. Lightweight Materials Industry is segmented based on type, application, and region.
Plastics, composites, metals, and other types could be explored in Lightweight Materials in the forecast period. Plastics
sector includes polypropylene and polycarbonate. Composites comprise glass fiber reinforced plastic and carbon fiber
reinforced plastic. On the other hand, metals consists of titanium, aluminum, magnesium, and high strength steel.
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The market may be categorized based on applications like wind energy, automotive, marine, aviation, and others that
could be explored in foremost period. The automotive sector is estimated to lead the overall market with largest market
share in the upcoming years. This may be because of growing awareness regarding fuel emissions. Also, aviation
company is the second largest company with significant market share. However, wind energy sector is estimated to grow
at fastest pace in the upcoming years.

Globally, North America and Asia Pacific accounted for the majority market share and is estimated to continue their
dominance in the coming years. The reason behind the growth of overall market in these regions could be high
production of vehicles and aircrafts and strict policy. However, Asia Pacific is estimated to grow at highest CAGR in the
coming years.
The developing countries like India and China are the major consumer of Lightweight Materials in the region. This may be
because of this may be because of growing awareness regarding renewable energy, rising demand for passenger
vehicles, and high defense budget. Instead, Europe is also estimated to have a positive influence on the future growth.
Europe is estimated to account significant market share in the future period.
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The key players of Lightweight Materials Market are Toray Industries Inc., ArcelorMittal S.A., PPG Industries Inc., Alcoa
Inc., and Saudi Basic Industries Corporation. These players are concentrating on inorganic growth to sustain themselves
amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
Market Segment:
Lightweight Materials Product Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)
• Aluminum
• High Strength Steel
• Titanium
• Magnesium
• Polymers & Composites
• Others
Lightweight Materials Application Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)
• Automotive
• Aviation
• Energy
• Other
Lightweight Materials Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2013 - 2024)
• North America
• U.S.
• Europe
• Germany
• Asia Pacific
• China
• Latin America
• Brazil
• Middle East & Africa
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