Market value of lightweight materials – understanding pricing

“Lightweight Materials Market by Type (Metal Alloys, Composites, Polymers), by Application (Automotive, Aerospace, Wind, Marine, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030.”

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/1721

Market overview:

The global lightweight materials market is expected to grow from $168.1 billion in 2020 to $261.6 billion by 2030, registering a remarkable compound annual growth rate (CAGR) of 4.5% between 2021 and 2030. This growth will be driven by the expanding automotive sector, technological advancements, and higher disposable income.

Key growth drivers:

– Rise in OEMs and aftermarkets: The rise in original equipment manufacturers (OEMs) and aftermarkets has boosted growth in the automotive sector.
– Technological progress: Continuous innovations in product development and technology.
– Higher disposable income: Rising disposable income has contributed to market expansion.

Challenges:

– High cost of carbon fiber: The increased cost of carbon fiber limits wider use.

– Volatile commodity prices: Fluctuating commodity prices hamper market growth in sectors such as shipping, wind turbines, aircraft manufacturing and automobile manufacturing.

Opportunities:

– Sustainability initiatives: Growing awareness of sustainable practices and the increasing popularity of electric vehicles (EVs) in both developed and developing countries offer significant growth potential.

Market segmentation:

1. By type:

– Metal alloys: dominated the market with over three-fifths of the share in 2020, driven by demand for high-performance carton closures, gift packaging and adhesive manufacturing.

– Composites: Due to increasing use in transportation, automotive and construction, the fastest growth is expected from 2021 to 2030 with a compound annual growth rate of 5.4%.

2. After application:

– Automotive industry: Accounted for almost four-fifths of market revenue in 2020 and will continue to lead the market. Growth is driven by a young global population and rising middle-class incomes.
– Aerospace: Average annual growth of 4.7% is expected over the forecast period, with lightweight materials improving avionics and the range of fighter jets.

Regional insights:

Asia Pacific: Had the highest market share in 2020, over three-fifths of total revenue, and is forecast to grow at a compound annual growth rate of 5.2% from 2021 to 2030. Growth will be driven by demand in the wind turbine, aircraft, marine and automotive sectors.

Leading market participants:

– Alcoa Corporation
– Saudi Basic Industries Corporation
– PPG Industries, Inc.
– Novelis Inc.
– Solvay
– ExxonMobil Corporation
– Toray Industries, Inc.
– DuPont
– ArcelorMittal
– Bayer AG

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/lightweight-material-market

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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality “Market Research Reports” and “Business Intelligence Solutions” to global corporations, medium and small businesses. AMR has a targeted approach to provide its clients with business insights and consulting to help them make strategic business decisions and achieve sustainable growth in their respective market space.

Pawan Kumar, CEO, Allied Market Research, leads the company to provide high-quality data and insights. We have professional business relationships with various companies and this helps us in sourcing market data that helps us in preparing accurate research data tables and confirms the utmost accuracy in our market forecasts. All the data presented in the reports published by us is acquired through primary interviews with top officials of leading companies in the concerned industry. Our methodology for sourcing secondary data includes extensive online and offline research and discussions with knowledgeable professionals and analysts of the industry.

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