Lightweight Materials Market Worth $237.1 Billion by 2026 | CAGR: 7.9%

1. Lightweight Material MarketSet to Exceed $237.1 Billion by 2026| CAGR: 7.9% “Lightweight Materials Market Share, Size & Trends Analysis Report by Product (Metal Alloys, Composites, Polymers); By Application (Aerospace, Automotive, Construction, Energy, Aviation); By Region: Market Size and Segment Forecast, 2019 – 2026”

2. Lightweight Materials Market Estimate & Forecast to 2026 The global lightweight materials market size is anticipated to reach USD 237.1 billion by 2026, according to a new research published by Polaris Market Research In 2018, the automotive segment dominated the global lightweight materials industry in terms of revenue. In 2018, Asia-Pacific accounted for the majority share in the global Lightweight Materials market. The expanding global automotive industry, along with increasing modernization of vehicles majorly drives the market growth. Increasing use in windmills owing to their improved performance, increased reliability, and higher durability boosts the demand for lightweight materials. The adoption of lightweight materials has increased significantly owing to increasing demand from aviation industry, and greater use of lightweight materials in manufacturing of aircraft modules. Other factors driving the growth of this market include growing penetration of electric vehicles, technological advancements, and significant investments in R&D. New emerging markets, and stringent government regulations regarding vehicle efficiency and safety would provide growth opportunities for the market in the coming years.

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4. Lightweight Materials Market Estimate & Forecast to 2026 Magnesium is a major lightweight material used in this market. Magnesium offers the lowest density of all structural metals with the ability to reduce component weight up to 70 percent. Magnesium is used as castings for powertrains or sub-assembly closures. Carbon fiber composites have the potential to reduce vehicle weight by up to 70 percent. They offer high stiffness, strength, and weight savings. In 2018, Asia-Pacific accounted for the highest share in the global market. Established automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. The introduction of stringent government regulations for vehicular and road safety accelerates the adoption of lightweight materials in the region. Access Research Report On Lightweight Materials Market The economic growth in countries such as China and India, lead to rising living standards and increasing disposable income, supporting the growth of the automotive industry. The increasing demand from construction and aerospace sectors further accelerate the growth of the lightweight materials industry. Expansion of global players into these countries to tap market potential boosts the market growth. The well-known companies profiled in the l report include Evonik Industries, Toray Industries Inc., Aleris International, PPG Industries, Inc., Thyssenkrupp AG, ArcelorMittal SA, Hexcel Corporation, Titanium Metals Corporation, Formosa Plastics Group, and Bayer AG among others.

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