Lightweight Materials Market to hit USD 230 billion by 2028
25 May 2021
Dallas, Texas, May 25, 2021 (GLOBE NEWSWIRE) -- The “Lightweight Materials Market by Material Type (Metals & Alloys (High strength steel, Aluminium, Magnesium, Titanium, Others)) (Composites (Carbon Fiber Reinforced, Glass Fiber Reinforced), Plastic (Polycarbonate, Polypropylene, Others), and Others, By Application (Aerospace and Defense, Automotive, Energy Sector, Electronic and Electrical industry, Construction Industry, Consumer Goods) and by Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) and Global Forecasts 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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Increase in the production of aircraft modules to boost demand for advanced composites and lightweight materials. The global market is projected to reach more than USD 230 billion by the end of 2028.
Investments of governments of different economies in integration of renewable energy sources for power generation as well as increased demand for composites and aluminium from the aviation business are driving the use of lightweight materials for aerospace and wind applications. Rapid changes in raw material prices and high carbon fibre costs are limiting usage in the automotive component manufacturing processes that are expected to hinder the growth of the market.
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In terms of material the global lightweight materials market is segmented into metal & alloys, composites, and plastics. Also, in terms of application, the market divided into aerospace and defense, automotive, energy sector, electronic and electrical industry, construction industry, and consumer goods. In terms of geography, the global Lightweight Materials is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Key players in the market include Hexcel Corporation, ArcelorMittal SA, Formosa Plastics Group, Titanium Metals Corporation, Cytec Solvay Group, Bayer AG, SABIC, Allegheny Technologies Incorporated, Alcoa Inc
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Major Points from Table of Contents:
Chapter 1. IntroductionChapter 2. Research MethodologyChapter 3. Market OutlookChapter 4. Lightweight Materials Market by Material TypeChapter 5. Lightweight Materials Market by ApplicationChapter 6. Lightweight Materials Market by RegionChapter 7. Competitive LandscapeChapter 8. Company ProfilesChapter 9. Appendix
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About Us:Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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