Latin America Automotive Lightweight Material Market Size & Outlook
Latin America automotive lightweight material market, 2018-2030 (US$M)
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Latin America automotive lightweight material market highlights
- The Latin America automotive lightweight material market generated a revenue of USD 3,817.0 million in 2022.
- The market is expected to grow at a CAGR of 0.1% from 2023 to 2030.
- In terms of segment, composites was the largest revenue generating product in 2022.
- Plastics is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 3,817.0 million |
| Market revenue in 2030 | USD 3,850.9 million |
| Growth rate | 0.1% (CAGR from 2022 to 2030) |
| Largest segment | Composites |
| Fastest growing segment | Plastics |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Metals, Composites, Plastics, Elastomers |
| Key market players worldwide | Basf SE, Toray Industries Inc, LyondellBasell Industries NV Class A, Novelis, ArcelorMittal SA Depository Receipt, Alcon Inc, Owens-Corning Inc, Stratasys Ltd, Tata Steel Ltd GDR - 144A, POSCO Holdings Inc ADR |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.5% of the global automotive lightweight material market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 34,808.2 million by 2030.
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Automotive Lightweight Material Market Scope
Automotive Lightweight Material Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America automotive lightweight material market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive lightweight material market will help companies and investors design strategic landscapes.
Composites was the largest segment with a revenue share of 67.58% in 2024. Horizon Databook has segmented the Latin America automotive lightweight material market based on metals, composites, plastics, elastomers covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of automotive lightweight materials market is Central & South America is expected to be driven by growth in automotive production in countries such as Brazil, Colombia, Peru, owing to high investments by large automotive companies towards setting up production plants in these countries.
The demand for passenger cars in the region is increasing owing to increase in consumer buying power in these countries. Brazil is expected to witness highest growth in the region, owing to increasing emphasis on adoption of electric vehicles in the country coupled with continuous increase in production over the past few years.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America automotive lightweight material market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America automotive lightweight material market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America automotive lightweight material market size, by country, 2018-2030 (US$M)
Latin America Automotive Lightweight Material Market Outlook Share, 2024 & 2030 (US$M)
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