The Global Lightweight Material Market Is Envisaged to grow with a CAGR of 7.14% throughout the forecast period (2018-2024).

According to report “Global Lightweight Materials Market-Industry Analysis, Growth, Size, Outlook, Trends and Forecast”, Global Lightweight Materials Market likely to reach USD 134.2 Billion by 2024 with a CAGR of 7.14% over the forecast period.
Lightweight Materials like Mg (Magnesium), Carbon Fiber Composites, Al (Aluminium), and the rest are used industries like, automotive industry, aviation industry, marine industry, wind energy industry due to their potential of reducing the composite weight of goods. Among all its applications, automotive industry is likely to be the largest market.High energy efficiency in terms of fuel consumption, enhanced safety is obtained in automobiles as lightweight materials which are used are proven to have better energy absorption. The usage of lightweight materials in automobiles contributed for the increased performance of automobiles and is also considered as a leading factor for the wide utilization of lightweight materials in automotive industry.
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North America possess largest consumers of Lightweight Materials

North America and Asia Pacific are expected as the largest consumers of lightweight materials accounting for nearly 71% with respect to volume utilization and 70% with respect to value of lightweight materials.
Few major key players for Global Lightweight Material Market include Owens Corning, Saudi Basic Industries Corporation, S. Magnesium LLC, Arcelormittal, Titanium Metals Corporation.

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