Lightweight Materials Market
REPORT DESCRIPTION
Lightweight Materials Market( Aluminum, Titanium, High Strength Steel, Magnesium, Polymer & Composites and Others) for Defense, Energy, Transportation and Other Applications- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014- 2020
Some of the key players in the global lightweight materials market include Cytec Industries, ExxonMobil, DuPont, Evonik Industries, Aleris International Inc, Bayer AG, Titanium Metals Corporation( TIMET) and Allegheny Technologies Incorporated( ATI). Value chain of the lightweight materials industry is interconnected with players in each segment. These players collaborate to develop final products. Companies such as Allegheny Technologies Incorporated and Titanium Metals Corporation operate across the value chain, from producing raw materials to manufacturing vital components for end-user industries. These companies are now focusing on the development of new products for the aerospace industry due to high demand from the sector.
The global market for lightweight materials is estimated to rise at a steady CAGR of 5.80 % during the forecast period of 2014 to 2020, reaching a valuation of US $ 186.3 bn by the end of 2020.
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Aluminum Remains Most In-Demand Product Segment The global market for lightweight materials is segmented on the basis of product, application, and region. By product, the market is divided into aluminum, titanium, high strength steel, magnesium, polymer and composites, and others including ceramic composites, carbon fiber composites, and hybrid materials. Out of these, aluminum is one of the major lightweight material, and is expected to remain the most prominent product segment in the global lightweight materials market during the forecast period.
The composites product segment, which includes metal matrix composites, glass fiber reinforced plastics, carbon fiber reinforced plastics, ceramic composites, and other hybrid materials, is expected to exhibit an increase in demand over the forecast period, owing to their functional benefits in comparison with other lightweight materials. However, composites come at a premium cost which will
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