Increasing Air Travel Benefits Lightweight Materials Market due to Demand in Aircraft Manufacture

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.

Browse Research Report With Complete TOC @ https://www.transparencymarketresearch.com/lightweight-materials-industry.html

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.

Request a PDF Brochure with Research Report Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2750

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.

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 business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

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: https://www.transparencymarketresearch.com

This release was published on openPR.