The global lightweight materials market size is expected to reach USD 303.82 Billion in 2028 and register a revenue CAGR of 8.3% during forecast period, according to latest analysis by Emergen Research. Steady market revenue growth is attributed to increasing focus on enhancing automotive performance and fuel efficiency. Lightweight materials, including polycarbonate, polyamide, Carbon Fiber Reinforced Plastic (CFRP), and aluminum aid in reducing weight of vehicles, marine vessels, and aircraft among others, and thus improve fuel-efficiency by decreasing fuel consumption and Greenhouse Gas (GHG) emissions, thereby reducing environmental impact. Studies show that around 10.0% reduction in overall vehicle weight would lead to an increase in fuel efficiency of over 5.0%. Also, lightweight materials enable more flexibility and novelty in design of aerodynamic shapes, which are normally difficult to realize with materials such as steel, iron, and others.
Increasing investment in renewable energy sector is a key driver of growth of the lightweight materials market. Currently, wind energy accounts for around 10% of global supply of energy, and this is estimated to increase significantly in the coming years. Companies operating in the wind energy industry are focusing on increasing length of wind turbine blades to enable increase in energy generation at lower cost. Use of lightweight materials such as glass fiber reinforced plastics enable the blades to rotate faster and capture lower velocity winds.
Lightweight Materials Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Lightweight Materials market scenario. The research report provides the reader with an in-depth interpretation of the Lightweight Materials market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Lightweight Materials industry. The market intelligence report is a prototype of the 360° overview of the global Lightweight Materials industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.
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The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Lightweight Materials market and pinpoint the fundamental growth trends.
Key Parameters Analyzed in This Section:
Product sales trends
Sales & distribution channels
Some of the major companies in the company profile section and others in the global market report are Formosa Plastics Corporation, SABIC, PPG Industries Inc., Precision Castparts Corporation, Solvay SA, Alcoa Corporation, Toray Industries Inc., Evonik Industries AG, Novelis Inc., and Covestro AG.
Key Highlights From the Report
In June 2021, Nexeo Plastics, which is a firm engaged in distribution of thermoplastic resins, made an announcement about entering an agreement with Covestro AG for distribution of Polycarbonate/ABS filament used in 3D printing.
Among the product type segments, the plastics segment accounted for largest revenue share in 2020. Rising awareness pertaining to deterioration of the ecosystem by GHG emissions and rising demand for Electric Vehicles (EVs) are factors fueling steady demand for plastics. Use of plastics in automotive and aircraft manufacturing aids in improving fuel efficiency and gives added design freedom and flexibility. Also, plastics find extensive use in the packaging industry as it enables reduced total weight of various packaged products.
Among the application segments, aerospace segment revenue is expected to increase at a significant rate over the forecast period. Rising concerns regarding pollution caused by aircraft emission is resulting in continuous efforts by major players in the aviation industry to increase fuel efficiency by reducing aircraft weight through use of more lightweight materials in component manufacturing. Apart from aiding in reducing carbon footprint of the aviation industry, lightweight aircraft help to improve flight performance, offer higher structural strength and stiffness, and enable better acceleration.
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Emergen Research has segmented the global lightweight materials market on the basis of product type, distribution channel, application, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
Acrylonitrile Butadiene Styrene
High Strength Steel
Carbon Fiber Reinforced Plastic
Glass Fiber Reinforced Plastic
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
Application Outlook (Revenue, USD Billion; 2018–2028)
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Regional Bifurcation of the Lightweight Materials Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report aims to provide a complete analysis of the global Lightweight Materials market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into market growth, size, and investment approaches. Additionally, the report provides an extensive analysis of the Lightweight Materials market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue.
Besides offering a vivid depiction of the global Lightweight Materials business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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