Lightweight Materials Market
hamper the share of the segment to some extent . Titanium , another important lightweight materials , will witness significant demand during the forecast period , primarily from the aviation industry .
By application , the market is segmented into defense , energy , transportation , and others including medical applications . Geographically , the market is divided into the regions of North America , Europe , Asia Pacific , and Rest of the World . Currently , Asia Pacific serves most of the demand in the global lightweight materials market .
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Construction Industry Extending Demand
The demand in the global lightweight materials market is driven by various end-use industries , such as transportation , aviation , automobile , and railways . However , transportation sector remains the most prominent demand candidate due to widespread usability and the increasing need for fuel efficiency . Lightweight materials such as titanium are now extensively used in aviation industry . The industries such as medical , energy , defense , consumer goods , construction , and electronics are now also extending their practical use for lightweight material , which is another factor that will augment the demand in the market during the forecast period .
Construction industry , particularly in the region of Asia Pacific , is thriving . Lightweight construction materials have lower density than water , despite a higher strength-to-weight ratio than that of aluminum and steel . However , the only restraint over the market is that these lightweight materials come at a premium price .
According to the author of the report , “ structural advantages offered by lightweight materials , along with expected price reduction of composites during the forecast period , will further escalate the demand . Consequently , the players in the market must also keep an eye on on research and development to find new composites , which can help them gain ground over their competitors .”
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Transparency Market Research
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