Global Lightweight Materials Market is Expected to Reach USD 186.35 Billion by 2020: Transparency Market Research

Global Lightweight Materials Market is Expected to Reach USD 186.35 Billion by
                      2020: Transparency Market Research

  PR Newswire

  ALBANY, New York, August 5, 2014

ALBANY, New York, August 5, 2014 /PRNewswire/ --

Transparency Market Research has released a new market report titled
"Lightweight Materials (Aluminum, Titanium, High Strength Steel, Magnesium,
Polymer & Composites and Others) Market for Defense, Energy, Transportation
and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast, 2014 - 2020". According to the report, the global lightweight
materials market was valued at USD 126.30 billion in 2013 and is anticipated
to reach USD 186.35 billion by 2020, expanding at a CAGR of 5.8% from 2014 to
2020. In terms of volume, the global lightweight materials market stood at
54,340.3 kilo tons in 2013.

Increasing environmental concerns and regulations to reduce CO [2] emission
from vehicles are anticipated to drive the global lightweight materials
market, especially in the transportation sector. Additionally, reduction of
weight of vehicles enhances their fuel efficiency. This drives demand for
lightweight materials in automobile and aviation sectors. Lightweight
materials are used in various applications. For instance, they are used in
aircraft structures for supporting high payload capacity and enhancing energy
efficiency. Aluminum, titanium and composites are key lightweight materials
used in aircraft. However, high cost of lightweight materials as compared to
conventional metals such as steel would weigh down the growth of the global
lightweight materials market in the next few years.

Browse the full Lightweight Materials  Market Report at
http://www.transparencymarketresearch.com/lightweight-materials-industry.html

Key product segments of lightweight materials include aluminum, titanium, high
strength steel, magnesium, polymer and composites, and others. Aluminum, one
of the key lightweight materials, accounted for 30.4% of the global
lightweight materials market in 2013. It is expected to experience substantial
growth over the next few years. Composites such as glass fiber reinforced
plastics, carbon fiber reinforced plastics, metal matrix composites, ceramic
composites and other hybrid materials are anticipated to gain importance in
the near future owing to functional benefits over other lightweight materials.
These composites are likely to experience significant growth; however, high
cost of these lightweight materials is estimated to hamper market growth
during the forecast period. Titanium, another key lightweight material, is
likely to experience significant growth in the near future, especially in the
aviation industry.

Transportation was the largest application segment, constituting more than 85%
of demand for lightweight materials in 2013. Transportation primarily includes
automobiles, aircraft and railways. Lightweight materials are increasingly
used in the manufacture of vehicles to enhance payloads, improve fuel
efficiency and reduce CO [2] emissions. Other key application sectors include
defense and energy. Lightweight materials are employed on a large-scale in
defense, especially in vehicles, body armors and other applications.
Furthermore, lightweight materials are used in wind energy systems,
specifically in rotor blades. This application is projected to be the fastest
growing segment in terms of volume, expanding at a CAGR of 5.8% from 2014 to
2020.

Asia Pacific dominated the global lightweight materials market with more than
40% share in 2013. Transportation industry in the region is likely to be a key
driver for the lightweight materials market. Asia Pacific was followed by
Europe, where transportation sector dominated the lightweight materials market
in 2013. Regulations by the European Union (EU) are anticipated to compel
automobile manufacturers to use lightweight materials in vehicles. North
America and Rest of the World followed Europe with a combined share of almost
30% in 2013.

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Key players in the global lightweight materials market include Alcoa Inc.,
Aleris International Inc., DuPont, ATI, TIMET, Exxon Mobil, Formosa Plastics
and Huntsman Corporation.

The report segments the global lightweight materials market as:

  *Lightweight Materials Market - Product Segment Analysis 

       *Aluminum
       *Titanium
       *High Strength Steel
       *Magnesium
       *Polymer and composites
       *Others (Ceramic composites, carbon fiber composites and hybrid
         materials)

  *Lightweight Materials Market - Application Segment Analysis 

       *Defense
       *Energy
       *Transportation
       *Others (Medical applications, etc.)

  *Lightweight Materials Market - Regional Analysis 

       *North America
       *Europe
       *Asia Pacific
       *Rest of the World (RoW)

Browse All Chemical & Materials Market Research Reports @
http://www.transparencymarketresearch.com/chemical-market-reports-2.html

About Us 

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