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The global lightweight materials market accounted for a market revenue of USD 141.2 billion and is projected to grow at a CAGR of more than 6.5% over the forecast period. Many automakers are switching towards products that reduce vehicles' weight because of the increased awareness about fuel emissions, which is also expected to drive the global market. In the lightweight materials market, increasing automobile industry and increasing vehicle modernisation are the main driving forces.
The focus of lightweight materials is to significantly reduce lightweight and heavy-duty weights without compromising other attributes such as cost performance. The use of materials like advanced high-performance steels and aluminium alloys allows vehicle weight reduction. In the long run, weight savings can be further increased by the application of magnesium alloys and carbon fibre composites.
Key segments across lightweight materials market
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global lightweight materials. The report will benefit:
The possibility of component weight reductions by more than 60% is offered by carbon-based enhanced polymer composites, but considerable technical and cost barriers have to be found in the introduction of vehicles. With the lowest density of all structural metals, magnesium (Mg) alloys are able to reduce the weight of components by more than 60%. Significant technical obstacles however limit the use of Mg by weight to about 1% of the average vehicle. In the light metal structural spectrum, aluminium (Al) alloys constitute a midfield. Despite the years of developments in the aerospace, building and automotive industries, alloys and processing systems have become well developed and well-understood
In terms of material the global lightweight materials market is segmented into metal & alloys, composites, and plastics. Metals and alloys is further segmented into high strength steel, aluminium, magnesium, titanium, others. Composites are segmented into carbon fiber reinforced and glass fiber reinforced. Plastic is divided in polycarbonate, polypropylene, and others. Similarly, in terms of application, the market divided into aerospace and defense, automotive, energy sector, electronic and electrical industry, construction industry, and consumer goods.
In terms of geography, the global Lightweight Materials is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. America is the world's leading electric car industry and manufactures some of today's most advanced PEVs. However, Asia Pacific is projected to dominate the global demand of lightweight materials market over the forecast period.
Key players include Toray Industries Inc., Evonik Industries, PPG Industries, Inc., Aleris International, Thyssenkrupp AG, Hexcel Corporation, ArcelorMittal SA, Formosa Plastics Group, Titanium Metals Corporation, Cytec Solvay Group, Bayer AG, SABIC, Allegheny Technologies Incorporated, Alcoa Inc., Precision Castparts Corp., and Novelis Inc.
The global lightweight materials market accounted for a market revenue of USD 141.2 billion and is projected to grow at a CAGR of more than 6.5% over the forecast period. Many automakers are switching towards products that reduce vehicles' weight because of the increased awareness about fuel emissions, which is also expected to drive the global market. In the lightweight materials market, increasing automobile industry and increasing vehicle modernisation are the main driving forces.
The focus of lightweight materials is to significantly reduce lightweight and heavy-duty weights without compromising other attributes such as cost performance. The use of materials like advanced high-performance steels and aluminium alloys allows vehicle weight reduction. In the long run, weight savings can be further increased by the application of magnesium alloys and carbon fibre composites.
Key segments across lightweight materials market
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global lightweight materials. The report will benefit:
Chapter 1. Introduction
1.1. Introduction to the Study
1.2. Market Definition and Scope
1.3. Key Stakeholders
1.4. Key Questions Answered
Chapter 2. Research Methodology
2.1. Introduction
2.1.1. Data Capture Sources
2.1.2. Primary Sources
2.1.3. Secondary Sources
2.2. Market Size Estimation
2.3. Market Forecast
2.4. Data Triangulation
2.5. Assumptions and Limitations
Chapter 3. Market Outlook
3.1. Introduction
3.2. Market Dynamics
3.3. Drivers
3.3.1. The increased awareness of gas emissions led to lighter vehicle components being used by manufacturers to improve miles
3.3.2. Introduction of government regulations regarding efficiency, and road and vehicle safety supports the growth of the lightweight materials industry.
3.4. Restraints
3.4.1. High cost of production
3.4.2. Untapped potential
3.5. Market opportunities
3.6. Porter’s Five Forces Analysis
3.7. PEST Analysis
3.8. COVID-19 Impact Analysis
Chapter 4. Lightweight Materials Market by Material Type
4.1. Metals & Alloys
4.1.1. High strength steel
4.1.2. Aluminum
4.1.3. Magnesium
4.1.4. Titanium
4.1.5. Others (Beryllium, etc.)
4.2. Composites
4.2.1. Carbon Fiber Reinforced
4.2.2. Glass Fiber Reinforced
4.3. Plastics
4.3.1. Polycarbonate
4.3.2. Polypropylene
4.3.3. Others (Polyamide etc.)
4.4. Others
Chapter 5. Lightweight Materials Market by Application
5.1. Aerospace and Defense
5.2. Automotive
5.3. Energy Sector
5.4. Electronic and Electrical industry
5.5. Construction Industry
5.6. Consumer Goods
Chapter 6. Lightweight Materials Market by Region
6.1. Introduction
6.2. North America
6.2.1. U.S.
6.2.2. Canada
6.2.3. Mexico
6.3. Europe
6.3.1. Germany
6.3.2. UK
6.3.3. Rest of the Europe
6.4. Asia Pacific
6.4.1. China
6.4.2. India
6.4.3. Japan
6.4.4. Rest of Asia Pacific
6.5. South America
6.5.1. Brazil
6.5.2. Rest of South America
6.6. Middle East & Africa
6.6.1. Saudi Arabia
6.6.2. Rest of Middle East & Africa
Chapter 7. Competitive Landscape
7.1. Overview
7.2. Strategic Initiatives
7.3. Acquisition
7.4. Joint Venture
7.5. Agreement
Chapter 8. Company Profiles
8.1. Evonik Industries
8.1.1. Overview
8.1.2. Forms and Services Portfolio
8.1.3. Recent Initiatives
8.1.4. Financial Analysis
8.1.5. SWOT Analysis
8.2. Toray Industries Inc.
8.2.1. Overview
8.2.2. Forms and Services Portfolio
8.2.3. Recent Initiatives
8.2.4. Financial Analysis
8.2.5. SWOT Analysis
8.3. Aleris International
8.3.1. Overview
8.3.2. Forms and Services Portfolio
8.3.3. Recent Initiatives
8.3.4. Financial Analysis
8.3.5. SWOT Analysis
8.4. PPG Industries, Inc.
8.4.1. Overview
8.4.2. Forms and Services Portfolio
8.4.3. Recent Initiatives
8.4.4. Financial Analysis
8.4.5. SWOT Analysis
8.5. Thyssenkrupp AG
8.5.1. Overview
8.5.2. Forms and Services Portfolio
8.5.3. Recent Initiatives
8.5.4. Financial Analysis
8.5.5. SWOT Analysis
8.6. ArcelorMittal SA
8.6.1. Overview
8.6.2. Forms and Services Portfolio
8.6.3. Recent Initiatives
8.6.4. Financial Analysis
8.6.5. SWOT Analysis
8.7. Hexcel Corporation
8.7.1. Overview
8.7.2. Forms and Services Portfolio
8.7.3. Recent Initiatives
8.7.4. Financial Analysis
8.7.5. SWOT Analysis
8.8. Titanium Metals Corporation
8.8.1. Overview
8.8.2. Forms and Services Portfolio
8.8.3. Recent Initiatives
8.8.4. Financial Analysis
8.8.5. SWOT Analysis
8.9. Formosa Plastics Group
8.9.1. Overview
8.9.2. Forms and Services Portfolio
8.9.3. Recent Initiatives
8.9.4. Financial Analysis
8.9.5. SWOT Analysis
8.10. Bayer AG
8.10.1. Overview
8.10.2. Forms and Services Portfolio
8.10.3. Recent Initiatives
8.10.4. Financial Analysis
8.10.5. SWOT Analysis
8.11. Other Companies
Chapter 9. Appendix
9.1. Primary Research Approach
9.1.1. Primary Interview Participants
9.1.2. Primary Interview Summary
9.2. Questionnaire
9.3. Related Report List
9.4. Published
9.5. Upcoming