Lightweight Materials Market - Positive Long-Term Growth Outlook 2020

Transparency Market Research (TMR) has released a market study detailing the global lightweight materials market from 2014 to 2020. The report is titled “Lightweight Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” and states that the market for lightweight materials will reach a valuation of US$186.3 bn by 2020, increasing from US$126.3 bn in 2013 at a modest CAGR of 5.80% from 2014 to 2020. By volume, the said market amounted to 54,340.3 mn kg in 2013.

Get PDF Brochure for more Professional and Technical insights :
http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2750

The report states that the market for lightweight materials receives major demand from the transportation sector. The use of lightweight materials such as aluminum, titanium, and composites in aircraft helps in revenue generation, due to the increased payload capacity and enhanced energy efficiency of the aircraft.Increasing environmental concerns across the globe associated with carbon emissions from vehicles are driving the demand for lightweight materials in the automobile and aviation sectors. However, the high cost of lightweight materials over conventional materials such as steel will be a deterrent to the growth of the global lightweight materials market during the forecast period.

The global market for lightweight materials is divided on the basis of product, application, and region. Aluminum, high strength steel, polymer and composites, titanium, magnesium, and others are the key product segments of the market. Out of these, aluminum is one of the major lightweight materials and held 30.4% of the global market for lightweight materials in 2013. This product segment is expected to witness substantial growth during the forecast period.

The composites product segment, which comprises glass fiber reinforced plastics, metal matrix composites, ceramic composites, carbon fiber reinforced plastics, and other hybrid materials, will exhibit an increase in its market share over the forecast period, due to their functional benefits in comparison with other lightweight materials. However, the high cost of composites will hamper the share of the segment to some extent. Titanium, another important lightweight material, will witness significant demand during the forecast period, predominantly from the aviation industry.

On the basis of application, transportation is registered as the largest application segment and accounted for more than 85% of the overall market in 2013. Aircraft, railways, and automobiles are the primary transportation modes that utilize lightweight materials in the manufacture of vehicles. This helps in enhancing payloads, reducing carbon emissions, and improving the fuel efficiency of the vehicles.Defense and energy are also important application segments of the lightweight materials market. Lightweight materials are extensively used in the defense sector for the manufacture of body armor, vehicles, and other applications.

Another application of lightweight materials is in wind energy systems, especially in rotor blades. Wind energy systems are expected to be the fastest growing application segment of the lightweight materials market, expected to expand at a CAGR of 5.80% from 2014 to 2020 in terms of volume.Among the regional segments, Asia Pacific dominated the lightweight materials market, accounting for more than 40% of the overall market in 2013.

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.)

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact Us

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.