Lightweight Materials Market worth$133.1 Billion by 2019
According to the new research report “Lightweight Materials Market By Type (Composites, Metals and Plastics), By Application (Automotive, Aviation, Marine and Wind Energy – Global Trends & Forecasts to 2019”, defines and segments the global lightweight materials market with analysis and forecasting in terms of volume and value. The lightweight materials market value will grow from an estimated $88.5 billion in 2014 to $133.1 billion by 2019, at a CAGR of 8.5% for the projected period.
Browse 123 Market Data Tables and 55 Figures spread through 250 Pages and in-depth TOC on “Lightweight Materials Market By Type (Composites, Metals and Plastics), By Application (Automotive, Aviation, Marine and Wind Energy) – Global Trends & Forecasts to 2019”.
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North American and Asia-Pacific regions dominated the lightweight materials market in 2013. They are the largest consumers of lightweight materials, together accounting for about 71% share of the total market in terms of volume and about 70% in terms of value in 2013. The growing automotive and aviation industries have led to an enhanced demand from these regions for lightweight materials. The Chinese market is the largest market for lightweight materials, comprising more than 52% the total Asia-Pacific market by volume in 2013. The market in China for lightweight materials is estimated to grow at a high rate in the next five years.
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The automotive industry has a high share in the lightweight materials market. The lightweight materials market in automotive industry is in the growth stage and is estimated to grow exponentially. The adoption of light metals and composite materials to reduce weight of vehicles is the current trend in the industry boosting the overall demand for lightweight materials for automotive utilization. The need to enhance fuel efficiency of vehicles has led to replacement of traditional materials with lightweight materials.
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The aviation industry has the second-largest share in the market. The aviation industry has been moving to lightweight materials as well. The stringent emission regulations have contributed to the growth of the market.
The top companies in the lightweight materials market include ArcelorMittal S.A. (Luxembourg), Alcoa Inc. (U.S.), Saudi Basic Industries Corporation (Saudi Arabia), PPG Industries, Inc. (U.S.), and Toray Industries, Inc. (Japan) among others. The lightweight materials industry has witnessed high expansion and new product launches in the recent past.
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