About Lightweight Metal
In the aerospace and construction industry, various light metals such as copper, magnesium, and titanium alloys are commonly used. Such metals are commonly used for the manufacture of lightweight parts owing to their low size coupled with relatively high strength properties. Light metals have a low density as well as a high ratio of strength to weight. While beryllium is an exception, they are usually distinguished by low toxicity than heavy metals.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.4% |
Industry players operational in the lightweight metal industry include Bailey Metal Products Limited (Canada), GRIP Metal Inc. (Canada), Alro Steel Corporation (United States), Metalcraft NZ (New Zealand), among others. These players are adopting strategies such as product launch, partnerships and acquisitions to garner higher market share and sustain market competition. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Lightweight Metal market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bailey Metal Products Limited (Canada), GRIP Metal Inc. (Canada), Alro Steel Corporation (United States), Metalcraft NZ (New Zealand), ALPOLIC Materials Products (United States), Zinometal Ltd (Israel) and Light Metals Corporation (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Lightweight Metal market by Type (Aluminium, Beryllium, Magnesium, Titanium and Others), Application (Aerospace & Defense, Automotive, Marine, Chemical Process, Wind Energy, Medical Applications and Others) and Region.
On the basis of geography, the market of Lightweight Metal has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct Sales will boost the Lightweight Metal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement regarding Lightweight Metal
Market Growth Drivers:
Growing Preference for Hybrid as well as Electric Vehicles Worldwide and Increasing Demand Coupled With Material Innovations in Aviation Industry
Challenges:
Issue related to High Cost of Lightweight Metal
Restraints:
Stringent Rules as well Regulation
Opportunities:
Commercialization of Electric Vehicles as well as Increasing Demand in Wind Energy Sector and Rising Demand from Emerging Market Such as China and India
Market Leaders and their expansionary development strategies
In March 2024, Jindal Stainless, a stainless steel manufacturer, announced a strategic partnership with JBM Auto Ltd. on Tuesday to collaborate on the production of more than 500 energy-efficient and lightweight stainless steel electric buses.
In September 2022, Xact Metal, State College, Pennsylvania, USA, has announced the launch of its XM300G series of Laser Beam Powder Bed Fusion (PBF-LB) metal Additive Manufacturing machines. Available in a single, dual, or quad-laser configuration, the mid-size AM machine has a standard build volume of 300 x 300 x 350 mm, upgradable to 300 x 300 x 450 mm.
Key Target Audience
Lightweight Metal Manufacturers, Regulatory bodies, Intermediary Suppliers, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.