Market World Lightweight Materials Market | Page 2

and carbon fiber reinforced plastic. On the other hand, metals consists of titanium, aluminum, magnesium, and
high strength steel.
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