Lightweight
materials and designs have been a crucial element for product designs across
several industries which mostly include aviation and automotive industry.
Moreover, global trends towards CO2 reduction and resource efficiency have
gradually led to an increased demand for light weight materials in the market
to manufacture lightweight and fuel efficient vehicles. The lightweight
materials that can be commercially used include light metals (magnesium and
advanced steel), composites and polymers (carbon fiber) and novel materials
(ceramics, carbon nanotubes and others) among others. Lightweight materials are
of great importance in sectors such as the departments of defense, energy and
transportation. Additional applications include medical technology, pressure
vessels and wind turbines. These lightweight advanced materials improve the
performance of many systems in defense, transportation, energy and general
engineered products.
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Some
of the key factors driving the growth of lightweight materials are the rising
need to reduce fuel consumption and CO2 emissions. Due to stringent CO2
emissions targets in Asia, Europe and the U.S., OEMs’ are rapidly developing
strategies to drive development of low cost and high volume lightweight
solutions, and improve manufacturing capabilities to reduce overall material
cost and ensure quality supply to create more fuel efficient vehicles. These
factors will drive the demand for lightweight materials in the market. However,
continuous maintenance and repair activities of lightweight materials can
hinder the growth of the market. In addition, the rising cost of carbon fiber
is the key obstacle to broad use of this material in the automotive industry.
Maintenance of carbon fiber parts is difficult as damage cannot be seen through
visual inspection. Asia Pacific is the largest market segment followed by
Europe and North America. Growing demand for automobiles in Asia Pacific, owing
to improved infrastructure facilities and growing disposable income of
consumers is expected to drive the market in this region.
Some
of the key players in the lightweight materials market include AK Steel, Alcoa
Inc., Aleris International Inc., Arcelor Mittal SA., Bayer AG, Borealis AG,
Caparo Group Ltd., Dead Sea Magnesium Ltd., DuPont, Dow Chemical Co, Evonik
Industries AG, Entec Polymers LLC, ExxonMobil Corp., Formosa Plastics Corp.,
Henkel AG & Co. and Huntsman International LLC among others.
This
research report analyzes this market depending on its market segments, major
geographies, and current market trends. Geographies analyzed under this
research report include
·
North
America
·
Asia
Pacific
·
Europe
·
Rest
of the World
This
report provides comprehensive analysis of
·
Market
growth drivers
·
Factors
limiting market growth
·
Current
market trends
·
Market
structure
·
Market
projections for upcoming years
This
report is a complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the coming years.
It includes analysis of recent developments in technology, Porter’s five force
model analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing market
players and new entrants along with detailed value chain analysis.
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