Latest Research Report to uncover key Factors of Global Aviation Lubricants Market|Henkel Corporation,UC Rusal,ThyssenKrupp AG
• Lightweight construction materials have lower density than water; however, their strength-to-weight ratio is higher than that of aluminum or steel
• Modern materials including composite materials used for lightweight construction are employed across all industrial sectors in order to reduce production costs, improve product quality and functionality, and increase resilience. Additionally, the use of lightweight construction materials helps optimize production processes and the use of materials in order to achieve maximum efficiency.
Key Drivers and Restraints of Lightweight Construction Materials Market
• Rise in adoption of lightweight materials and increase in production of aircraft in developing countries are expected to augment the demand for advanced composites during the forecast period. This is anticipated to drive the global lightweight construction materials market in the near future.
• Growth of the aerospace & defense sector in countries such as India and China is likely to fuel the demand for lightweight materials such as aluminum for its usage in the manufacture of various parts of aircraft. Properties of lightweight construction materials, such as enhanced dynamics and comfort, are likely to make aluminum the most significant lightweight construction material in the aerospace & defense sector.
• Car manufacturers and aluminum distributors are working closely with each other to decrease the overall weight of the vehicle structure. Aluminum offers a better cost-benefit ratio than any of its substitute materials. This makes it a material of choice for the production of various automotive parts.
• Rise in investments in application-oriented research and development is expected to improve properties of materials in the near future. Optimization of the process for production of lightweight construction materials is anticipated to drive the global lightweight construction materials market during the forecast period.
• Fluctuation in raw material prices and high costs of carbon fibers are likely to restrict their usage in the manufacture of automotive components. This is expected to hinder the market during the forecast period.
• Lightweight construction materials are made by using sophisticated technologies that are not commercial on the large scale in the market. This, in turn, is estimated to hamper the global market during the forecast period.
• Economic slowdown and contraction of the automotive sector in developing regions, such as Asia Pacific, are expected to hamper sales of lightweight construction materials in the near future
COVID-19 Impact Analysis
The novel coronavirus (COVID-19) pandemic has adversely impacted the construction industry, as developers have halted investments in new construction projects. Construction of building was hampered initially due to lockdowns, as governments of various countries restricted movement of individuals and goods. However, relaxation of lockdowns is estimated to encourage investment in the construction of new projects. This is anticipated to boost the lightweight construction materials market in the near future.
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Building & Construction End-user Segment Expected to Hold Prominent Share of Global Market
• The global lightweight construction materials market can be segmented based on type, end-user, and region
• Based on type, the global lightweight construction materials market can be segregated into high performance steel, carbon composites, aluminum, ceramic materials, nanomaterials, and others. Increase in pressure to reduce CO2 emissions during the production of cement is likely to drive the demand for nanomaterials such as graphene in the near future. Graphene’s high tensile strength, optical transparency, and excellent electrical conductivity make it an ideal material for usage in the construction industry
• Based on end-user, the lightweight construction materials market can be divided into building & construction, automotive, aerospace & defense, and others. Rise in usage of cement-based construction materials, such as ultra-high-performance concrete (UHPC) and photo-catalytically active concrete products and coatings, is estimated to drive the demand for lightweight construction materials, especially in the building & construction sector, in the next few years.
Europe to Constitute Major Share of Global Lightweight Construction Materials Market
• Geographically, the global market for lightweight construction materials can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Europe is anticipated to be the leading consumer of lightweight construction materials across the globe in the near future. In terms of research & development and production capacities, Germany is becoming the leading player in the market for lightweight construction materials in Europe.
• Manufacturers of lightweight construction materials in North America are primarily engaged in mergers and acquisitions (M&As) and new product launches in order to gain higher market share
• Growth of aerospace & defense and building & construction sectors in Asia Pacific, especially in countries such as China, Japan, and South Korea, is expected to boot the demand for lightweight construction materials in the region during the forecast period
• Rise in FDI in aerospace & defense and building & construction industries in developing economies of Asia Pacific is likely to fuel the lightweight construction materials market in the region during the forecast period
• Increase in import of lightweight construction materials in the construction industry in Latin America and Middle East & Africa is projected to boost the market in these regions during the forecast period
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