Lightweight Materials Market Expected to Reach Around at USD 229 Billion by 2027

(Market Stats News via Comtex)

The global lightweight materials market size is expected to reach around at USD 229 billion by 2027 and is expected to register a CAGR of 12.3% over the forecast period 2020 to 2027. A large number of automotive manufacturers are switching to products that reduce the weight of the vehicles owing to the increased awareness pertaining to fuel emissions, which in turn is anticipated to drive the global market.

The increased demand for vehicles in North America is expected to augment the market growth over the forecast period. The growth in this region is driven on account of the strong presence of major auto manufacturers in countries such as the U.S. and Canada. Furthermore, the presence of renewable energy equipment manufacturers is expected to drive the market in this region.

Get the sample pages of [email protected] https://www.visionresearchreports.com/report/sample/34702

Product Insights

The market is segmented into products including aluminum, high strength steel, titanium, magnesium, and polymers & composites. Polymers &composites dominated the overall market and the trend is likely to continue over the forecast period. The demand for the product is expected to grow owing to its potential to reduce vehicular weight by 50% and improve fuel efficiency by around 35%.

After the introduction of the Hall-Heroult process of obtaining quality aluminum from alumina, aluminum has been used in various applications. The age hardening property of aluminum alloys coupled with the strength provided by aluminum has propelled its demand in automotive and aviation applications. Such distinct properties and their usage in various industries are likely to drive market growth.

High strength steel is majorly used as a direct substitute to traditional steel in lightweight applications. It is largely preferred in the automotive sector and has the ability to reduce vehicular weight by around 25%. The recycle value of high strength steel is increasing its demand, which is anticipated to drive the market growth over the forecast period.

Magnesium is majorly used in automotive and mobile electronics applications. The recyclability feature of magnesium is responsible for its growth over the forecast period. Titanium is widely used in a variety of applications due to its easy accessibility and abundant availability. However, due to its high cost, it is used in niche applications where superior strength and durability are desired.

Application Insights

Automotive, aviation, and energy are the major application areas in the lightweight materials market. In 2020, the automotive segment dominated the overall lightweight materials market with around with 86% share in terms of revenue. Major products used in the automotive industry include aluminum, polymers and composites, and high strength steel.

The lightweight materials market is majorly driven by growing applications in automotive and aviation sector. The rising innovation in the aviation sector is expected to augment the market demand over the forecast period. In addition, the market growth is expected to augment due to the increased application of lightweight materials in the energy application segment.

Use of lightweight materials directly impacts various factors such as driving dynamics, agility, and fuel consumption. The application of lightweight materials in the aviation sector is expected to boost demand for lightweight materials over the forecast period. Furthermore, wind energy, one of the major renewable sources of energy uses lightweight materials for the manufacture of windmills.

The other application segment for the market includes transportation and defense. These applications majorly use titanium and magnesium, as they possess special properties of reflecting electromagnetic radiation. The demand for the market is expected to increase on account of rising R&D on new materials for defense applications.

Buy this premium research report, click [email protected] https://www.visionresearchreports.com/report/cart/34702 OR Call: +1 9197 992 333

Regional Insights

MEA is expected to be the fastest growing region with a CAGR of over 15% from 2016 to 2027. The growth in this region is driven by rapid industrialization and setting up of manufacturing units by various conglomerates such as Cytec Solvay Group. Ease of availability of natural resources coupled with growing application industry is expected to augment the market demand

The Asia Pacific dominated the global demand due to growing aviation and automotive. Countries such as India and China are leading the regional market owing to high demand for passenger vehicles. Rising awareness about renewable energy is expected to boost product demand in energy applications. High defense budgets in this region are expected to boost demand for titanium and magnesium.

The demand for the product is growing rapidly in Latin America on account of the increase in the number of lightweight materials manufacturers. Furthermore, the market growth in Europe is expected to augment owing to the presence of aircraft and wind energy equipment manufacturers in the region.

High strength steel is largely used in North America, on account of its similar properties as traditional steel. However, polymers and composites are expected to grow rapidly over the forecast period owing to widespread acceptance in the automotive and energy sectors. Aluminum consumption in this region is driven by growing applications in the automotive and aviation sectors.

Key Players

Leading players invest huge capital in R&D activities to develop enhanced products to cater to the current demand. Key players include E.I DuPont de Nemours and Company, Cytec Industries Inc., ExxonMobil Corporation, SABIC, Bayer AG, Toray Industries Inc., Novelis Inc., ArcelorMittal SA, PPG Industries Inc., and Alcoa Inc.

Other players in the value chain include (profiles of these are not included in the report but can be included on client request): ThyssenKrupp AG, Henkel Corporation, Owens Corning Corporation, LyondellBasell Industries N.V., Hexcel Corporation, SGL Group, Nippon Graphite Fiber Corporation, Mitsubishi Rayon Co. Ltd., Zoltek Companies Inc. and others, UC Rusal, Aluminium Corporation of China, Rio Tinto Alcan Inc., China Hongqiao Group Ltd., Kaiser Aluminium, US Magnesium LLC, and A&S Magnesium Inc. among others.

Segmentation

By Type

  • Metal Alloys
    • Aluminum
    • Steel
    • Magnesium
    • Titanium
  • Composites & Polymers
    • Carbon-Fiber Reinforced Plastic (CFRP)
    • Glass-Fiber Reinforced Plastic (GFRP)
  • Polymers
    • Polycarbonate
    • Polypropylene

By Application

  • Automotive
  • Aerospace
  • Wind
  • Marine
  • Others (Transportation, Packaging, and Other Engineered Goods)

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Russia
    • Germany
    • France
    • UK
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • LAMEA
    • Brazil
    • Argentina
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

The Lightweight Materials market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Lightweight Materials market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Lightweight Materials market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Lightweight Materials market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven't just conducted Lightweight Materials market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Lightweight Materials capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Lightweight Materials by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Lightweight Materials market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Lightweight Materials market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Lightweight Materials market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Lightweight Materials industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Lightweight Materials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Lightweight Materials market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Lightweight Materials market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Lightweight Materials market. These factors have benefited the growth of the global market for Lightweight Materials. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Lightweight Materials. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Lightweight Materials are as follows:

  • History Year: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Buy this premium research report, click [email protected] https://www.visionresearchreports.com/report/cart/34702 OR Call: +1 9197 992 333

The post Lightweight Materials Market Expected to Reach Around at USD 229 Billion by 2027 first appeared on Market Stats News.

comtex tracking