South Korea Automotive Lightweight Material Market Size & Outlook
South Korea automotive lightweight material market, 2018-2030 (US$M)
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South Korea automotive lightweight material market highlights
- The South Korea automotive lightweight material market generated a revenue of USD 1,258.9 million in 2022 and is expected to reach USD 1,641.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.4% 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.
Automotive lightweight material market data book summary
| Market revenue in 2022 | USD 1,258.9 million |
| Market revenue in 2030 | USD 1,641.9 million |
| Growth rate | 3.4% (CAGR from 2022 to 2030) |
| Largest segment | Composites |
| Fastest growing segment | Plastics |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, South Korea accounted for 1.5% of the global automotive lightweight material market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China automotive lightweight material market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,641.9 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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South Korea 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 71.7% in 2024. Horizon Databook has segmented the South Korea automotive lightweight material market based on metals, composites, plastics, elastomers covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea accounted for the fifth largest producer of passenger cars globally accounting for over 13% of the global manufacturing output. Major automakers operating in the country include Hyundai Motors, Kia Motors, SsangYong Motors, Renault, and GM Korea among others.
These players are also engaged in the supply of auto parts to major multinational automakers across the globe. A rise in demand for lightweight materials to enhance vehicle performance is expected to increase the production and demand for composites in the country.
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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 country-level data and insights on the South Korea automotive lightweight material market , including forecasts for subscribers. This country databook contains high-level insights into South Korea automotive lightweight material market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea automotive lightweight material market size, by product, 2018-2030 (US$M)
South Korea Automotive Lightweight Material Market Outlook Share, 2024 & 2030 (US$M)
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