Global Lightweight Materials Market -Analysis & Forecast (2017-2023) (Focus on Metals (Aluminum, High Strength Steel), Composites (Glass Fiber Composites, Carbon Fiber Composites), Plastics; Applications in Automotive, Aerospace & Defense, and Wind Energy)
The global lightweight materials market in terms of value is estimated to witness a growth at a CAGR of 7.0% between 2017 and 2023. The increasing demand and the growth rate for lightweight materials in the market is attributed to their increasing usage in end-use industries such as automotive, aerospace & defense, wind energy and others.
The rising demand is in line with the unique properties of lightweight materials. The properties such as low density, high strength and stiffness, high ductility, temperature and corrosion resistance make lightweight materials a preferred choice over conventional materials such as iron and steel.
These properties help in weight reduction, leading to increased fuel economy, reduced CO2 emissions and longer life and low maintenance costs.
The report is a compilation of various segmentations including market breakdown by lightweight material type, sub-type, end-use applications, and different geographical regions. It also includes sections on competitive insights and market dynamics. Herein the revenue generated from lightweight materials is tracked to calculate the market size.
While highlighting the key driving and restraining forces for this market, the report also provides a comprehensive section of the application areas of the lightweight materials market. It also examines the role of the leading market players involved in this market. The report addresses the following key questions about the global lightweight materials market:
- What is the global lightweight materials market size is in terms of revenue from 2016-2023?
- Which is the dominant type and sub-type by revenue in the lightweight materials market?
- What is the revenue generated by the different lightweight materials by type and sub-type in the lightweight materials market?
- What is the revenue generated by the different applications of the lightweight materials market?
- What are the different factors driving the market in the forecast period?
- What are the major factors challenging the growth of global lightweight materials market?
- What are opportunities for the global lightweight materials market?
- What kind of new strategies are being adopted by existing market players to make a mark in the industry?
- What is the revenue generated by the different geographic regions in the lightweight materials market?
- Which region will lead to the global lightweight materials market by the end of the forecast period?
- Which are the existing key market players that have made a mark in the lightweight materials market?
The report has put special emphasis on the market share and size of metals, composites and plastics, owing to their high share in the current and upcoming market of lightweight materials. The industry analysis have also been undertaken in order to examine the impact of various factors and understand the overall attractiveness of the industry.
The most often used strategy for developing a better hold on to the market has been through agreements, collaborations, contracts, and partnerships, followed by new product launches. The company profile section includes highlights of significant information about the key companies involved, along with their financial summaries and key strategies & developmental activities of recent years. Some of the key players involved in this market are Toray Industries, Teijin Limited, Mitsubishi Rayon Co. Ltd., SGL Group, Hexcel Corporation, Cytec Industries, Owens Corning Corporation, Jushi Group Co. Ltd, Dead Sea Magnesium Ltd., Titanium Metals Corporation, Vsmpo-Avisma Corporation, ALCOA Inc., Novelis Inc., Arcelor Mittal S.A., Rio Tinto, China Hongqiao Group, Thyssenkrup AG, Lyondellbasell Industries N.V., Formosa Plastic, and SABIC.
Metals dominated the lightweight materials market accounting for a market share of 60% by value in 2016. Asia Pacific generated the maximum amount of revenue in the year 2016 in the global lightweight materials market followed by North America and Europe. Additionally, APAC has the highest potential to grow in the forecast period due to the presence of emerging economies such as China and India.