Lightweight Materials Market - Global Industry Estimated to Grow Strongly by 2020

Lightweight materials and designs are vital factors for product designs across major industries including automobile, aviation and defense. The larger the mass of the vehicle, higher amount of energy is required to move it. Efficiency and performance of a vehicle are correlated to its weight. Replacement of heavy materials with lightweight materials lowers the vehicle’s weight. This, in turn, improves its fuel efficiency. A 1 kg decrease in the vehicle’s weight results in a 17 kg to 20 kg reduction of carbon dioxide emission during its lifetime. Thus, lightweight materials enable vehicles to increase payload, reduce fuel costs and improve the environmental impact.

Lightweight materials are increasingly replacing cast iron and traditional steel components. Additionally, stringent environmental regulations and global trends towards reduction of carbon dioxide emissions have increased the significance of lightweight materials over the last few years. Consumption of lightweight materials is anticipated to rise in the near future due to regulations implemented to reduce CO2 emissions, and penalties for high CO2 emissions by vehicles.

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Weight reduction is one of the key factors in improving fuel economy and car performance. The lighter the vehicle less is the power and energy required to accelerate and maintain its speed. This not only enhances fuel economy, but also reduces CO2 emissions. Reduction of CO2 emission is one of the key drivers for the usage of lightweight materials in cars and other automobiles. The European Union aims to penalize companies manufacturing cars with high CO2 emission in the near future. Automakers need to manufacture cars that match the CO2 emission target set by the legislation.

Various types of lightweight materials are produced globally. These include metals (titanium, aluminum, advanced steel and magnesium), composites, polymer and others (carbon fiber composites, ceramics, etc.) Metals are used largely in end-use industries such as transportation and defense. Aluminum and titanium are anticipated to experience significant growth in automobile and aviation industries. Polymer and composites accounted for 30.2% of the global market in 2013. Low density and high strength makes aluminum ideal for construction of aerospace structures and automotive applications. Other lightweight materials segment, including carbon reinforced plastic composites, metal matrix composites and ceramic composites, constituted 0.5% of the global lightweight materials market in 2013.

Lightweight materials find applications in several end-use industries such as defense, transportation and energy. Furthermore, lightweight materials are used in medical technology, pressure vessels and wind turbines. Aviation and automobiles are the key end-user industries in the lightweight materials market. Lightweight materials improve the performance of systems in defense, energy, transportation and general engineered products. Lightweight materials are used primarily in the transportation sector, where they are employed in body structures, roofs, panels and engine parts of automobiles, aircraft and railways. In 2013, transportation sector dominated the global demand for lightweight materials as lightweight materials offer various advantages such as weight reduction, high payload and enhanced fuel efficiency. Transportation sector constituted 85.7% of the global market in 2013.

Key regional segments include North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific accounted for the largest share of 40.3% of the global lightweight materials market in 2013. Developed regions such as Europe and North America followed Asia Pacific. These regions are likely to experience significant growth in the next few years. RoW, with the smallest market share, is anticipated to experience the fastest growth during the forecast period.

Key players in the market include Cytec Industries, DuPont, ExxonMobil, Evonik Industries, Bayer AG, Aleris International Inc, Titanium Metals Corporation (TIMET) and Allegheny Technologies Incorporated (ATI). Value chain of the lightweight materials industry is interconnected with participants in each segment. These participants work closely with each other to develop finished products. Companies such as Titanium Metals Corporation (TIMET) and Allegheny Technologies Incorporated (ATI) operate across the value chain, from producing raw materials to manufacturing vital components for end-user industries. Companies are now focusing on the development of new products for the aerospace industry due to high demand from the sector.

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