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NEW YORK, Jan. 20, 2021 /PRNewswire/ The global automotive lightweight material market size is expected to reach
USD 109.5 billion by 2027. according to a new study conducted by
Polaris Market Research. the market is anticipated to register a
CAGR of 7.2% from 2020 to 2027. Increasing stringent policies regarding vehicle emission along with fuel economy regulations are some of the key factors that drive major growth for the market. In addition to this, rising government initiatives and campaigns for vehicle weight reduction is another major factor responsible for the rising demand for automotive lightweight material. Key features such as materials provide enhanced strength, less material consumption, low corrosion rate, and increased efficiency for vehicles. Moreover, the introduction of modern electric vehicles has made a huge revolution in the automotive industry, which in turn favoring market growth