Global Lightweight Metals Market Will Reach at a Highest CAGR of 8.75% by 2026

Posted by kelvindbmr on November 4th, 2019

Global lightweight metals market is set to witness a substantial CAGR of 8.75% in the forecast period of 2019- 2026. The report contains the data of the base year 2018 and historic year 2017. Increasing usage of lightweight metals in various applications is the major factor for the growth of this market.

Key Market Competitors:

Few of the major competitors currently working in global lightweight metals market are DuPont, Solvay, Exxon Mobil Corporation., SABIC, Bayer AG, TORAY INDUSTRIES, INC., Novelis, ArcelorMittal, PPG Industries, Inc., Alcoa Corporation., VSMPO-AVISMA Corporation., U.S. Magnesium LLC, Precision Castparts Corp, Trinseo, Owens Corning, Hexcel Corporation,, Thermo Fisher Scientific., 3T Additive Manufacturing Ltd, Henkel Adhesives Technologies India Private Limited, Owens Corning among others.

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Light metals are those metals which usually have low density and high strength. These light metals have very low- toxicity as compared to the heavy metals. Aluminium, titanium, beryllium and magnesium are some of the common type of the lightweight metals. These light metals are widely used in the industries like aerospace, chemical process, medical and marine. They usually improve p product shape, conductivity, ductility, malleability, yield strength, and melting point.

Competitive Analysis:

Global lightweight metals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lightweight metals market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Segmentation: Global Lightweight Metals Market

•          By Type (Composite, Metals, Plastics)
•          By Applications (Aerospace, Marine, Chemical Process, Medical)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Market Drivers:

•          Growth of the aerospace industry acts as a driver for this market growth
•          Increasing prevalence of electric vehicles is another factor driving the market growth
•          Increasing material innovation in aviation industries will also augment the growth of this market
•          Growing wind project installation will also propel the market growth

Market Restraints:

•          High price of the lightweight metals is restraining the growth of this market
•          Rising safety concern among population is also restricting the growth of this market
•          Increasing technological constraints can also hinder the market growth

Key Insights in the report:

•          Complete and distinct analysis of the market drivers and restraints
•          Key market players involved in this industry
•          Detailed analysis of the market segmentation
•          Competitive analysis of the key players involved

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