Global Lightweight Metals Market By Type (Composite, Metals, Plastics), Applications (Aerospace, Marine, Chemical Process, Medical), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Lightweight Metals Market
Global lightweight metals market is set to witness a substantial CAGR of 8.75% in the forecast period of 2019- 2026. The report contains the data of the base year 2018 and historic year 2017. Increasing usage of lightweight metals in various applications is the major factor for the growth of this market.
Market Definition: Global Lightweight Metals Market
Light metals are those metals which usually have low density and high strength. These light metals have very low- toxicity as compared to the heavy metals. Aluminium, titanium, beryllium and magnesium are some of the common type of the lightweight metals. These light metals are widely used in the industries like aerospace, chemical process, medical and marine. They usually improve p product shape, conductivity, ductility, malleability, yield strength, and melting point.
- Growth of the aerospace industry acts as a driver for this market growth
- Increasing prevalence of electric vehicles is another factor driving the market growth
- Increasing material innovation in aviation industries will also augment the growth of this market
- Growing wind project installation will also propel the market growth
- High price of the lightweight metals is restraining the growth of this market
- Rising safety concern among population is also restricting the growth of this market
- Increasing technological constraints can also hinder the market growth
Segmentation: Global Lightweight Metals Market
- Carbon Fiber Reinforced Plastic
- Glass Fiber Reinforced Plastic
- High Strength Steel
- Chemical Process
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In April 2016, Alcao announced the launch of their new lightweight alloys SupraCast, EZCast, VersaCast and EverCast. They are specially designed for the automakers and suppliers so that they can provide them with strong and provide them with better thermal performance. The main aim of the launch is to meet the need and requirement of the people and provide them alloy which has less weight and has better performance
- In March 2015, Alcoa announced that they are going to acquire RTI International Metals, Inc. so that they can expand their business in the aerospace industry. This acquisition will help the company to combine their science and process technology so that they can provide better titanium solutions to their customers
Global lightweight metals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lightweight metals market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in global lightweight metals market are DuPont, Solvay, Exxon Mobil Corporation., SABIC, Bayer AG, TORAY INDUSTRIES, INC., Novelis, ArcelorMittal, PPG Industries, Inc., Alcoa Corporation., VSMPO-AVISMA Corporation., U.S. Magnesium LLC, Precision Castparts Corp, Trinseo, Owens Corning, Hexcel Corporation,, Thermo Fisher Scientific., 3T Additive Manufacturing Ltd, Henkel Adhesives Technologies India Private Limited, Owens Corning among others.
Research Methodology: Global Lightweight Metals Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved