Portland, OR -- (SBWIRE) -- 03/02/2018 -- The lightweight materials are metal alloys and composites used to decrease the weight of automotive, aircrafts, and windmills without affecting the strength and efficiency of the structure.The lightweight materials have high strength-to-weight ratio, exceptional corrosion resistance, and greater design flexibility. Its efficiency depends upon the mixture of alloys or composites used. Metal alloys segment compromises of lightweight and high-strength steel, aluminum alloys, magnesium alloys, and titanium alloys. These metal alloys are non-ferrous metals with low density, high strength-to-weight ratio, and high corrosive resistance.

The lightweight material market witnessed considerable growth in the recent past, due to rise in government investments in renewable power projects, such as wind and hydro energy. In addition, increase in demand for fuel efficient vehicles accelerated the market growth. China produced around 23.7 million vehicles including cars, buses, trucks, and vans, in 2014. This number is anticipated to witness a smooth growth due to increase in population and urbanization, especially in the developing economies. Thus, increase in the number of vehicles on roads in turn fuels the market growth.

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Increase in penetration of lightweight components and rise in production of aircraft modules to uplift the demand for advanced composites and other lightweight materials drive the lightweight materials market growth. However, factors, such as rapid fluctuations in raw material prices and high cost of carbon fiber restrict the use in manufacturing of automotive components. These factors are expected to hinder the market growth. In addition, Asia-Pacific is projected to register significant growth as compared to the saturated markets of North America and Europe. The amount of lightweight materials used in automotive is expected to increase, due to the rise in the demand for fuel efficient and lightweight vehicles across the globe, thus fueling the overall market growth.

Leading players invest huge capital in R&D activities to develop enhanced products to cater to the current demand. Key players include E.I DuPont de Nemours and Company, Cytec Industries Inc., ExxonMobil Corporation, SABIC, Bayer AG, Toray Industries Inc., Novelis Inc., ArcelorMittal SA, PPG Industries Inc., and Alcoa Inc.

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Lightweight Materials Market Report Key Benefits:

- It includes a detailed qualitative and quantitative analysis of the market which assists to evaluate the prevailing market opportunities, during the period, 2014-2022
- It provides comprehensive evaluation of factors that drive and restrict the market growth
- It offers region and country-specific analyses of the market value and volume
- It includes value and volume based on primary as well as secondary sources and are comprehensively analyze it.
- It provides competitive intelligence of leading producers and suppliers of lightweight materials and interprets the competitive scenario across the geographies
- It gives extensive analysis by following key product positioning and monitoring the top competitors within the market framework
- It helps to develop insights on strategic analysis of various companies as well as the value chain for lightweight materials