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The value of the global lightweight materials market was estimated at USD 173.53 billion in 2022, and is expected to increase to USD 348.28 billion by 2030, at a CAGR of 10.1% between 2023 and 2030.
Due to emission reduction standards, the global market for lightweight materials by application type has experienced rapid rise in recent years and is expected to continue in the years to come. The automobile industry is the largest consumer of these materials, accounting for more than 89% of the market's volume in 2017. The high consumption of lightweight materials in this business drives up the price of those materials. The aviation industry is the second largest consumer of these goods, making well over 5% of total market demand. Lighter structural materials allow for the addition of more advanced safety features, integrated electrical systems, and pollution control systems without negatively impacting the vehicle's performance. By using titanium, a high-temperature metal, powertrain systems can shed as much as 54.9% of their weight. Its strength-to-weight ratio is high, and it remains stable even when subjected to extremely high temperatures. When used in strength-limited designs like pillars and door rings, advanced high strength steel has the potential to reduce component weight by up to 25%. The market for lightweight materials is being propelled by the expanding automotive sector and rising rates of vehicle modernization. The development of the sector has been assisted by government rules pertaining to efficiency, traffic safety, and vehicle safety. There has been a recent uptick in the use of lightweight materials and components in wind turbine construction projects.
Product-Level Analysis of the Market for Lightweight Materials
Various uses have been found for aluminum, which was first produced via the Hall-Heroult technique. Aluminum's strength and ability to age gracefully have led to its increased use in transportation and aviation. It is anticipated that the widespread use of these unique characteristics will spur economic expansion across various industries. Magnesium is mostly used in mobile and automotive electronics. Magnesium is likely to rise during the predicted time period since it may be recycled. Titanium's abundance and user-friendliness have led to its widespread use in a wide range of industries. It's expensive, thus it's reserved for niche uses where extra durability and reliability are essential.
Analysis of the Market for Lightweight Materials by End-Use
In 2022, the automobile industry commanded a 73 percent share of the market due to its high volume of sales. Growing demand from the automotive and aviation sectors is the primary factor propelling the market forward. Demand is expected to rise throughout the forecast period as a result of growing innovation in the aviation industry. Market growth is also predicted to be fueled by the increasing demand for lightweight materials used in the energy application sector. Several aspects of a vehicle, including its driving dynamics, agility, and fuel efficiency, are directly influenced by the choice of lightweight materials. Lightweight materials are in high demand because of their widespread application in the aerospace industry. Another significant renewable energy source that requires lightweight materials is windmills. Defense and transportation make up the market's fastest-growing subsegment. Titanium and magnesium are widely used for these purposes because of their high electromagnetic-energy-reflecting capacities. More investigation into and development of innovative materials for use in military applications is projected to boost demand in the market.
The Most Important Developments in the Market
Thanks to innovations in materials research, stronger and more durable lightweight materials are becoming available. Nanomaterials like graphene and carbon nanotubes are being investigated by scientists as a means to create lightweight materials with extraordinary mechanical capabilities.
Report Coverage
Global Lightweight Materials research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Lightweight Materials report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Lightweight Materials competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Lightweight Materials market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Lightweight Materials market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Lightweight Materials market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Alcoa Corporation (USA), BASF SE (Germany), Covestro AG (Germany), Cytec Industries Inc. (USA), DuPont de Nemours Inc. (USA), Evonik Industries AG (Germany), Hexcel Corporation (USA), Huntsman Corporation (USA), LyondellBasell Industries Holdings B.V. (Netherlands), Mitsubishi Chemical Holdings Corporation (Japan), Owens Corning (USA), PPG Industries Inc. (USA), SGL Carbon SE (Germany), Solvay SA (Belgium), Teijin Limited (Japan), Toray Industries Inc. (Japan), 3A Composites GmbH (Switzerland), ArcelorMittal SA (Luxembourg), Carpenter Technology Corporation (USA), Celanese Corporation (USA), Hexion Inc. (USA), Materion Corporation (USA)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Lightweight Materials market based on the below-mentioned segments:
Global Lightweight Materials Market, By Product
Aluminum
High Strength Steel
Titanium
Magnesium
Polymers & Composites
Others
Global Lightweight Materials market, By Application
Automotive
Aviation
Energy
Other
Global Lightweight Materials market, Regional Analysis
Due to emission reduction standards, the global market for lightweight materials by application type has experienced rapid rise in recent years and is expected to continue in the years to come. The automobile industry is the largest consumer of these materials, accounting for more than 89% of the market's volume in 2017. The high consumption of lightweight materials in this business drives up the price of those materials. The aviation industry is the second largest consumer of these goods, making well over 5% of total market demand. Lighter structural materials allow for the addition of more advanced safety features, integrated electrical systems, and pollution control systems without negatively impacting the vehicle's performance. By using titanium, a high-temperature metal, powertrain systems can shed as much as 54.9% of their weight. Its strength-to-weight ratio is high, and it remains stable even when subjected to extremely high temperatures. When used in strength-limited designs like pillars and door rings, advanced high strength steel has the potential to reduce component weight by up to 25%. The market for lightweight materials is being propelled by the expanding automotive sector and rising rates of vehicle modernization. The development of the sector has been assisted by government rules pertaining to efficiency, traffic safety, and vehicle safety. There has been a recent uptick in the use of lightweight materials and components in wind turbine construction projects.
Product-Level Analysis of the Market for Lightweight Materials
Various uses have been found for aluminum, which was first produced via the Hall-Heroult technique. Aluminum's strength and ability to age gracefully have led to its increased use in transportation and aviation. It is anticipated that the widespread use of these unique characteristics will spur economic expansion across various industries. Magnesium is mostly used in mobile and automotive electronics. Magnesium is likely to rise during the predicted time period since it may be recycled. Titanium's abundance and user-friendliness have led to its widespread use in a wide range of industries. It's expensive, thus it's reserved for niche uses where extra durability and reliability are essential.
Analysis of the Market for Lightweight Materials by End-Use
In 2022, the automobile industry commanded a 73 percent share of the market due to its high volume of sales. Growing demand from the automotive and aviation sectors is the primary factor propelling the market forward. Demand is expected to rise throughout the forecast period as a result of growing innovation in the aviation industry. Market growth is also predicted to be fueled by the increasing demand for lightweight materials used in the energy application sector. Several aspects of a vehicle, including its driving dynamics, agility, and fuel efficiency, are directly influenced by the choice of lightweight materials. Lightweight materials are in high demand because of their widespread application in the aerospace industry. Another significant renewable energy source that requires lightweight materials is windmills. Defense and transportation make up the market's fastest-growing subsegment. Titanium and magnesium are widely used for these purposes because of their high electromagnetic-energy-reflecting capacities. More investigation into and development of innovative materials for use in military applications is projected to boost demand in the market.
The Most Important Developments in the Market
Thanks to innovations in materials research, stronger and more durable lightweight materials are becoming available. Nanomaterials like graphene and carbon nanotubes are being investigated by scientists as a means to create lightweight materials with extraordinary mechanical capabilities.
Report Coverage
Global Lightweight Materials research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Lightweight Materials report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Lightweight Materials competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Lightweight Materials market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Alcoa Corporation (USA), BASF SE (Germany), Covestro AG (Germany), Cytec Industries Inc. (USA), DuPont de Nemours Inc. (USA), Evonik Industries AG (Germany), Hexcel Corporation (USA), Huntsman Corporation (USA), LyondellBasell Industries Holdings B.V. (Netherlands), Mitsubishi Chemical Holdings Corporation (Japan), Owens Corning (USA), PPG Industries Inc. (USA), SGL Carbon SE (Germany), Solvay SA (Belgium), Teijin Limited (Japan), Toray Industries Inc. (Japan), 3A Composites GmbH (Switzerland), ArcelorMittal SA (Luxembourg), Carpenter Technology Corporation (USA), Celanese Corporation (USA), Hexion Inc. (USA), Materion Corporation (USA) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Lightweight Materials Market from 2021 to 2030.
- Market Forecast for Lightweight Materials Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Lightweight Materials competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Lightweight Materials
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Lightweight Materials market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Lightweight Materials market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Alcoa Corporation (USA), BASF SE (Germany), Covestro AG (Germany), Cytec Industries Inc. (USA), DuPont de Nemours Inc. (USA), Evonik Industries AG (Germany), Hexcel Corporation (USA), Huntsman Corporation (USA), LyondellBasell Industries Holdings B.V. (Netherlands), Mitsubishi Chemical Holdings Corporation (Japan), Owens Corning (USA), PPG Industries Inc. (USA), SGL Carbon SE (Germany), Solvay SA (Belgium), Teijin Limited (Japan), Toray Industries Inc. (Japan), 3A Composites GmbH (Switzerland), ArcelorMittal SA (Luxembourg), Carpenter Technology Corporation (USA), Celanese Corporation (USA), Hexion Inc. (USA), Materion Corporation (USA)
Primary Target Market
- Market Players of Lightweight Materials
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Lightweight Materials market based on the below-mentioned segments:
Global Lightweight Materials Market, By Product
Aluminum
High Strength Steel
Titanium
Magnesium
Polymers & Composites
Others
Global Lightweight Materials market, By Application
Automotive
Aviation
Energy
Other
Global Lightweight Materials market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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