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Published Date: 2014-07-24Number of Pages: 100

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

Participants in the global lightweight materials market collaborate to develop finished products. Some of the savvy companies are now focusing on the development of new products for the aerospace industry which generates a lot of demand.

At the forefront of driving growth in the lightweight materials market is the booming transportation sector. This is because, lightweight materials, namely aluminum, titanium, and composites help in increasing payload capacity and also enhance energy efficiency in aircrafts, thereby generating increased revenues for airlines.

Because of the energy efficiency they accord, lightweight materials are seeing increased uptake as they serve to bring down carbon emissions from vehicles and aircrafts, thereby contributing to the environment.

One factor posing a challenge to the global lightweight materials market is their steep price. Traditional materials such as steel cost much less.

A report by Transparency Market Research (TMR) forecasts the global lightweight materials market to rise at a tepid 5.80% CAGR during the period from 2014 to 2020. At this rate, the market, which wqas worth US$126.3 bn in 2013 will likely become worth US$186.3 bn by 2020. Volume-wise, the said market amounted to 54,340.3 mn kg in 2013.

Aluminum Emerges as Most Favored Lightweight Material

The global market for lightweight materials can be segmented depending upon the type of product and application. Based on products, for example, the market can be segmented into aluminum, titanium, high strength steel, polymer and composites, magnesium, etc. Of them, aluminum is one of the most popular lightweight materials and accounted for about 30.4% share in market in 2013. In the years ahead too, the segment is predicted to clock maximum growth.

The composite product segment, which consists of glass fiber reinforced plastics, ceramic composites, carbon fiber reinforced plastics, metal matrix composites, and other hybrid materials, will see its market share increase in the upcoming years on account of their functional benefits in comparison with other lightweight materials. However, expensiveness of composites will deter their uptake to an extent. Another important lightweight material titanium will see robust demand too in the next couple of years mainly from the aviation industry.

Based on application, the main segments of the global lightweight materials market are energy, defense, and transportation. Lightweight materials also find application in various medical applications. At present, transportation accounts for most of the share in the market. In 2013, the segment accounted for almost 85% of the share in the market. Railways, aircrafts, and automobiles are the primary transportations that utilize lightweight materials in the manufacture of vehicles to increase payloads, cut down carbon emissions, and better fuel efficiency.

Lightweight materials are also finding application in wind energy systems, particularly in rotor blades.

Asia Pacific Key Market

From a geographical standpoint, Asia Pacific dominated the lightweight materials market, accounting for more than 40.3% of the overall market in 2013. Europe and North America trail Asia Pacific in terms of market share. In the years ahead, these regions will likely see significant growth. The Rest of the World, which now has minimum market share, is forecasted to see maximum growth pace in the upcoming years.

Some of the prominent participants in the global lightweight materials market are Cytec Industries, DuPont, ExxonMobil, Evonik Industries, Bayer AG, Aleris International Inc, Titanium Metals Corporation (TIMET) and Allegheny Technologies Incorporated (ATI).

The global lightweight materials industry has been experiencing strong growth from various end-use industries, especially from the transportation sector. The transportation sector includes aviation, automobile and railways. Other key end-use industries include medical, energy, defense, consumer goods, building & construction and electronics. However, this study on lightweight materials focuses on key industries such as defense, energy, transportation and medical. Structural advantages of different lightweight materials coupled with expected price reduction of composites in the future is estimated to drive global demand for lightweight materials. However, high cost of lightweight materials is the only significant barrier for demand for these products.
 
The study analyzes the lightweight materials industry, and estimates and forecasts the global market in terms of volume (Kilo tons) and revenue (USD Billion). The lightweight materials report segments the market based on product types, applications and key regions. Key products included in the report are aluminum, high strength steel, magnesium, titanium, and polymer and composites. Polymer and composites segment includes polyamides, polypropylene, polystyrene and glass reinforced plastic composites. Key applications included in the study are defense, energy, transportation and medical. The transportation application segment includes demand from automobile, trucks, other vehicles, commercial and civilian aircraft, and railways. The report analyzes attractiveness of each application of lightweight materials with the help of the market attractiveness tool. 
 
The report segments the lightweight materials market into key regions such as North America, Europe, Asia Pacific and Rest of the World. Rest of the World includes Latin America, the Middle East and Africa. The report analyzes each product and application segment for each regional market. The study on lightweight materials provides market estimates and forecast for each segment in terms of volume (Kilo tons) and revenue (USD billion).
 
Industry analysis of the report provides a comprehensive view of each player in the value chain of the lightweight materials market. It also provides key driving and restraining factors in the lightweight materials market, with impact analysis of each factor. The industry analysis also throws light on opportunities for the market in the near future. Additionally, the lightweight materials report analyzes the global competition in the market with the help of Porter’s five forces analysis model. 
 
Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings. Secondary sources referred for lightweight materials study include, but are not limited to ICIS, the Steel Manufacturers Association, the International Aluminum Institute, the Lightweight Materials Technology Council (LMTC), the American Composites Manufacturers Association (ACMA), European Composites Industry Associations, the American Lightweight Materials Manufacturing Innovation Institute (ALMMII) and the European Union. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
 
The lightweight materials report comprises profiles of key players such as Alcoa Inc., Aleris International Inc., ATI, TIMET, Huntsman Corporation, Caparo, Exxon Mobil, DuPont, Evonik Industries, Cytec Industries Inc. and Formosa Plastics. Company profiles include parameters such as company overview, product portfolio, financial overview, business strategies, SWOT analysis and recent developments. The study also provides market share of some of the companies in the lightweight materials market. Market share of companies has been derived based on revenue generated for lightweight materials products.
 
The report segments the global lightweight materials market as:
  • Lightweight Materials Market - Product Segment Analysis
    • Aluminum
    • Titanium
    • High Strength Steel
    • Magnesium
    • Polymer and composites
    • Others (Ceramic composites, carbon fiber composites and hybrid materials)
  • Lightweight Materials Market - Application Segment Analysis
    • Defense
    • Energy
    • Transportation
    • Others (Medical applications, etc.)
  • Lightweight Materials Market - Regional Analysis
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)


 
 
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