IMARC Group’s latest research report, titled “Lightweight Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global lightweight materials market share reached a value of US$ 177.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 286.1 Billion by 2027, exhibiting a CAGR of 8.10% during 2022-2027. Lightweight materials are composites, polymers, and metal alloys that consist of aluminum, beryllium, titanium, magnesium, aluminides, engineering plastics, structural ceramics, matrices, etc. They are environment-friendly, assist in reducing carbon footprints, and offer several advantages, including high electrical and thermal conduciveness, corrosion and oxidation resistance, low density, high reflectivity, high flexibility, high strength, cost-efficiency, etc. As a result, lightweight materials find widespread applications across various sectors, such as aerospace, defense, healthcare, construction, automotive, electronics, packaging, etc.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by type, distribution channel and application.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Lightweight Materials Market
- Strategies of major players and product offerings
The escalating demand for these metal alloys for manufacturing several parts in the automotive industry, as they aid in minimizing heavy-duty vehicle weight without compromising performance, safety, cost, or recyclability, is among the primary factors driving the lightweight materials market. Besides this, the elevating product requirement for improving the efficiency and range of hybrid, plug-in hybrid, and electric vehicles, since they offset the weight of power systems, including batteries and motors, is further augmenting the market growth. Apart from this, the growing popularity of lightweight materials in the wind energy sector in the production of windmills is also catalyzing the global market. Moreover, the increasing product utilization in the aviation industry to reduce fuel consumption is acting as another significant growth-inducing factor. Furthermore, the rising need for aluminum alloys in the food and beverage (F&B) sector for processing foils, beverage cans, and cooking utensils is expected to bolster the lightweight materials market in the coming years.
Key Players Included in Global Lightweight Materials Market Research Report:
being Alcoa Corporation, Arcelormittal S.A., China Hongqiao Group Limited, Dupont De Nemours Inc., Exxon Mobil Corporation, Novelis Inc. (Hindalco Industries Limited), Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), SGL Carbon SE, Solvay S.A., Teijin Limited, Thyssenkrupp Ag and Toray Industries Inc.
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Type:
- Metal Alloys
Breakup by Distribution Channel:
Breakup by Application:
- Consumer Goods
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Lightweight Materials Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Lightweight Materials Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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