Materials Market Research Reports Lightweight Materials Market | Page 2

Further key findings from the report suggest:
 Automotive application segment was the largest consumer of the product in 2015 on account
of increasing demand for vehicles with enhanced fuel efficiency. The consumption of
lightweight materials in the automotive application was over 27 million tons in 2015 and is
expected to grow at a CAGR of 8% from 2016 to 2024.
 High strength steel is expected to be the fastest growing product segment on account of
enhanced lightweight advantage when combined with aluminum for manufacturing of vehicle
body. The demand for high strength steel was over USD 8; billion in 2015 and is expected to
grow at a CAGR of 10% from 2016 to 2024.
 Asia Pacific was worth USD 42 billion in 2015 and is likely to witness significant growth owing
to rising wind energy installations. Countries such as Japan and India are expected to add
over 10 GW of wind energy resulting in the increased application of lightweight materials.
 Companies are focusing on increasing their market share within the industry through various
strategic initiatives such as mergers and acquisitions. In December 2015, Solvay acquired
Cytec Industries aiming to enter the lightweight materials market with a broad product
portfolio. In March 2015, Alcoa acquired RTI International Metals to expand its offerings in
titanium and other advanced manufacturing & material technologies.
Browse Full Research Report at:
https://www.radiantinsights.com/research/lightweight-materials-market
Table of Contents:
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Lightweight Materials Market- Industry Summary And Key Buying Criteria, 2013 – 2024
Chapter 3. Lightweight Materials Industry Outlook
3.1. Lightweight materials market segmentation
3.2. Lightweight materials market size and growth prospects, 2013 - 2024
3.3. Lightweight materials market - Value chain analysis
3.4. Raw material outlook
3.5. Technology overview
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