North America Automotive Lightweight Material Market Size & Outlook
North America automotive lightweight material market, 2018-2030 (US$M)
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North America automotive lightweight material market highlights
- The North America automotive lightweight material market generated a revenue of USD 24,560.8 million in 2022.
- The market is expected to grow at a CAGR of 4.5% 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, Canada is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 24,560.8 million |
| Market revenue in 2030 | USD 34,808.2 million |
| Growth rate | 4.5% (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, North America region accounted for 28.7% 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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North 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 67.25% in 2024. Horizon Databook has segmented the North America automotive lightweight material market based on metals, composites, plastics, elastomers covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for automotive lightweight materials in North America is expected to witness significant growth over the forecast period, owing to the presence of several large automotive manufacturing companies in countries such as U.S., Canada, and Mexico. As per data published by International Organization of Motor Vehicle Manufacturers in 2019, these countries were among the top 15 automotive manufacturers in the world, with the total production of about 16.78 million vehicles in 2019.
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Our clientele includes a mix of automotive lightweight material market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America automotive lightweight material market , including forecasts for subscribers. This continent databook contains high-level insights into North America automotive lightweight material market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America automotive lightweight material market size, by country, 2018-2030 (US$M)
North America Automotive Lightweight Material Market Outlook Share, 2024 & 2030 (US$M)
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