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Lightweight Materials Market Size Worth USD 228.3 Billion by 2025 | CAGR: 9.1%

The Lightweight Materials market is expected to grow at CAGR of 9.1% to reach USD 228.3 billion by 2025.

The lightweight materials are metal composites and alloys used to reduce the weight of aircraft, automotive, and windmills without affecting the product efficiency and strength. The global lightweight material industry is witnessing considerable growth in the past few years, owing to the increasing government investments in renewable power projects, such as hydro and wind energy. Furthermore, these materials offer exceptional corrosion resistance, high strength-to-weight ratio, and design flexibility that makes it the best choice of material for various applications, supporting the industry development. On the flip side, detrimental factors such as high cost of carbon fiber and rapid fluctuations in raw material prices will hinder the market growth.

Lightweight materials study depicts an in-depth analysis of the current status of the industry which consists of types, applications, and end-uses. The data type of lightweight materials report contains market values, import, export, consumption, etc. Further, the study focuses on the prominent regional and country trends contributing to the development of the global lightweight materials industry over the stipulated timeframe. The lightweight materials market study also covers industry chain, distribution channel, manufacturing techniques, cost framework, technological developments in concerned sectors, regulatory structure, and tactical avenues are also included in the proposed report.

Browse 74 Tables and 128 Figures spread through over 150 Pages and in-depth TOC on “Lightweight Materials Market, By Product (Aluminium, High Strength Steel, Magnesium, Titanium, Polymers & Composites), By Application and Geography (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) – Analysis, Share, Trends, Size, & Forecast from 2014 – 2025” Request Sample Here

KEY TAKEAWAY

The global market is categorized into high strength steel, polymers & composites, aluminium, magnesium, and titanium. The polymers and composites segment dominated the worldwide lightweight materials industry, accounted for over 30% share of the global market.
In terms of application, the automotive industry accounted for significant revenue share owing to its associated advantages. For instance, in the automotive sector, lightweight materials such as magnesium alloys, high-strength steel, aluminium alloys, polymer composites, and carbon fiber offer great potential to increase vehicle efficiency as it takes less energy to accelerate a lighter object compared to the heavier one.
Europe and Middle East African countries accounted for the significant revenue share. Growth in these regions is majorly attributed to the increasing number of car manufacturers coupled with rising awareness about renewable energy.
Key players such as SABIC Industries, Cytec Solvay Group, Precision Castparts, Evonik Industries, Toray Industries Inc., Novelis, Formosa Plastics Group, Bayer and Alcoa Inc. are present in this industry
Product innovation is one of the most important strategies among key players to increase market share. For instance, Arkema Group, the market leader in specialty polyamides and acrylic glass, introduced ultra-high-performance thermoplastics for the engine and structural parts of the vehicle which can reduce the substantial weight of vehicle parts.

The global Lightweight Materials market by its major segments, which include as follows:

LIGHTWEIGHT MATERIALS MARKET, BY PRODUCT