Lightweight Materials Market Research Report, Share, and Forecast to 2025Posted by rekha on November 19th, 2019 “The Global Lightweight Materials Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR over next seven years 2019-2025 due to rise in government investments in renewable power projects” The global lightweight materials market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Rise in government investments in renewable power projects, increase in demand for fuel efficient vehicles, growing penetration of lightweight components, increased awareness pertaining to fuel emissions, presence of renewable energy equipment manufacturers, growing disposable income and improving living standards are some factors fostering the market growth. However, factors such as high cost of carbon fiber and volatility of raw material prices are restricting the market growth. Global lightweight materials market segmented on the basis of type, application and region. Request for sample report @ https://www.precisionbusinessinsights.com/request-sample?product_id=37982 Automotive dominate the Global Lightweight Materials Market Based on application, global lightweight materials market segmented into aerospace, automotive, marine, wind and others (transportation, packaging, and other engineered goods). Automotive held considerable market growth during estimated period. Automotive lightweight materials are used in automobiles to decrease their weight and upsurge their speed and fuel efficiency. These lightweight materials are an appropriate replacement for heavy generic materials formerly used to build the frame of vehicles owing to advantages such as less material consumption, improved strength, low corrosion rate, and developed handling. Carbon fiber is one such material that is extensively used by automobile companies worldwide, as it provides reduction in vehicle weight while preserving the strength. Asia Pacific Leads the Global Lightweight Materials market PBI’s global lightweight materials market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis.Asia Pacific accounted for larger revenue share in global lightweight materials market with considerable CAGR. Asia Pacific is anticipated to witness considerable growth in this market due to rising awareness about renewable energy and high defense budgets in this region. China is the major contributor for the growth of the market in the region. In addition, North America held significant market share during estimated period owing to increasing use of high strength steel. Aluminum consumption in this region is focused by rising application in the automotive and aviation sectors.
Strategic New Launches are the key strategies adopted by market players Global lightweight materials market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in Oct 2019, SABIC launched new xenoy htx high-heat resin family to support vehicle light weighting and electrification trends. Key player’s profiles in the report are SABIC, Aleris International, Formosa Plastics Group, PPG Industries Inc., Toray Industries Inc., Teijin Limited, Mitsubishi Rayon Co. Ltd., SGL Group, Hexcel Corporation, Cytec Industries, Jushi Group Co. Ltd, Titanium Metals Corporation, ALCOA Inc. and Novelis Inc. Precision Business Insights (PBI) in its report titled “Global Lightweight Materials Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market. Detailed Segmentation
By Type o Metal Alloys
o Composites & Polymers
o Polymers
By Application o Aerospace o Automotive o Marine o Wind o Others (Transportation, Packaging, and Other Engineered Goods) o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)
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