7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
San Francisco, Sept. 29, 2016 -- The global lightweight materials market is projected to reach USD 225.35 billion by 2024, according to a new report by Grand View Research, Inc. Positive automotive outlook coupled with increased number of wind project installations is expected to boost demand for these materials.
Lightweight materials are gaining popularity in various applications instead of iron and steel on account of improved performance. The fuel efficiency advantage facilitates use in application segments including automotive and aviation. The reduction in CO2 emissions on account of enhanced fuel efficiency in passenger vehicles will augment the demand for these materials.
U.S and China contribute to the majority of the product demand owing to the presence of a large number of automotive and aviation component manufacturers. Rising innovation in the aviation sector and an increasing number of wind project installations globally is expected to have a positive impact on demand.
Browse full research report with TOC on “Lightweight Materials Market Analysis By Product (Aluminum, High Strength Steel, Titanium, Magnesium, Polymers & Composites) And By Application (Automotive, Aviation, Energy) and Segment Forecasts To 2024” at: http://www.grandviewresearch.com/industry-analysis/lightweight-materials-market
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 related reports by Grand View Research:
Grand View Research has segmented the global lightweight materials market on the basis of product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- Aluminum
- High Strength Steel
- Titanium
- Magnesium
- Polymers & Composites
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- Automotive
- Aviation
- Energy
- Others
Regional Outlook (Volume, Million Square Meter; Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- Latin America
- Brazil
- MEA
Read Our Blogs – ni2014.org, grandviewresearch.com/blogs/advanced-materials
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: www.grandviewresearch.com
