- Metal Alloys
- Aluminum
- Steel
- Magnesium
- Titanium
- Composites & Polymers
- Carbon-Fiber Reinforced Plastic (CFRP)
- Glass-Fiber Reinforced Plastic (GFRP)
- Polymers
- Polycarbonate
- Polypropylene
Lightweight Materials Market size was valued at USD 173.3 billion in 2023 and is poised to grow at a significant CAGR of 4.7% from 2024-2030. The global market provides a detailed overview which can be segmented by type, application, and region. By type, the lightweight materials market has been segmented into metal alloys, composites & polymers, and polymers. By type, the metal alloys segment dominated the global market in past years and is anticipated to grow at a CAGR of 4.7% during the forecast period owing to excellent properties of metal alloys such as low density, high strength-to-weight ratio, and improved corrosive resistance that make them extensive usage in forming machining, and welding applications in several end-use industries, including automobile, aerospace, and wind. Based on the application, the lightweight materials market has been segregated into aerospace, automotive, marine, wind, and others (transportation, packaging, and other engineered goods. By application, the automobile sector expects to have a significant growth rate owing to the increasing demand for lightweight materials in this sector for manufacturing various automotive components.
Lightweight Materials Market Key Development:
In June 2021, Solvay announced that it has signed a five-year supply contract with Leonardo for both its Electronics and Aircraft Aerostructure businesses. Additionally, Solvay and Leonardo partnered on a number of R&D projects for the creation of process innovations and innovative materials. In July 2020, Madison Dearborn Partners, LLC-controlled company Intelligent Packaging Limited Purchaser Inc. announced that it has signed a deal to acquire IPL Plastics Inc.- For instance, In March 2022, according to a report published by the U.S. Bureau of Labor Statistics, the motor vehicles and parts manufacturing industry in the U.S. registered a year-on-year growth rate of 8.4% from February 2021 to February 2022.
Global Lightweight Materials Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
4.7%
Largest Market
North-America
Fastest Growing Market
Asia-Pacific
Lightweight Materials Market Dynamics
Lightweight materials such as metal alloys, composites, and polymers have extensive usage in the manufacturing of various automotive parts and are majorly driving the market growth of lightweight materials. Furthermore, with cost-effectiveness, fuel economy, and operational efficiency, electric vehicles are in greater demand globally. Electric cars are quite popular with consumers because of their great strength and lightweight component. However, some factors are rapid fluctuations in raw material prices and the high cost of carbon fiber restricting the use of lightweight materials in various end-use industries, including automotive, aircraft manufacturing, wind turbines, and marine, resulting in the global market of lightweight materials being hampered to some extent.
North-America Got Significant Share
Lightweight Materials Market Regional Analysis
North America is anticipated to augment the market growth over the forecast period owing to the strong presence of key players of auto manufacturers in countries such as the U.S. and Canada. Furthermore, the presence of renewable energy equipment manufacturers is further expected to drive the market in this region.
Latin America
Europe
Asia Pacific
Middle East
North America
Global Lightweight Materials Market Segmentation
By Type
By Application
- Aerospace
- Automotive
- Marine
- Wind
- Others (Transportation, Packaging, and Other Engineered Goods)
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Frequently Asked Questions
The lightweight materials market is projected to expand at a CAGR of 4.7% during the forecast period
SABIC, Aleris International, Formosa Plastics Group, PPG Industries Inc, Toray Industries Inc, Teijin Limited
North America is the fastest-growing region for the lightweight materials market
Key Features of the Reports
- The lightweight materials market report provides granular level information about the market size, regional market share, historic market (2019-2023) and forecast (2024-2030)
- The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup's details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market
| 1.Executive Summary |
| 2.Global Lightweight Materials Market Introduction |
| 2.1.Global Lightweight Materials Market - Taxonomy |
| 2.2.Global Lightweight Materials Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Application |
| 2.2.3.Region |
| 3.Global Lightweight Materials Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Lightweight Materials Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Lightweight Materials Market By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Metal Alloys |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Aluminum |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Steel |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Magnesium |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Titanium |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Composites & Polymers |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 5.7. Carbon-Fiber Reinforced Plastic (CFRP) |
| 5.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market Opportunity Analysis |
| 5.8. Glass-Fiber Reinforced Plastic (GFRP) |
| 5.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.8.3. Market Opportunity Analysis |
| 5.9. Polymers |
| 5.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.9.3. Market Opportunity Analysis |
| 5.10. Polycarbonate |
| 5.10.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.10.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.10.3. Market Opportunity Analysis |
| 5.11. Polypropylene |
| 5.11.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.11.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.11.3. Market Opportunity Analysis |
| 6.Global Lightweight Materials Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Aerospace |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Automotive |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Marine |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Wind |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others (Transportation, Packaging, and Other Engineered Goods) |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7.Global Lightweight Materials Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Lightweight Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Metal Alloys |
| 8.1.2.Aluminum |
| 8.1.3.Steel |
| 8.1.4.Magnesium |
| 8.1.5.Titanium |
| 8.1.6.Composites & Polymers |
| 8.1.7.Carbon-Fiber Reinforced Plastic (CFRP) |
| 8.1.8.Glass-Fiber Reinforced Plastic (GFRP) |
| 8.1.9.Polymers |
| 8.1.10.Polycarbonate |
| 8.1.11.Polypropylene |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Aerospace |
| 8.2.2.Automotive |
| 8.2.3.Marine |
| 8.2.4.Wind |
| 8.2.5.Others (Transportation, Packaging, and Other Engineered Goods) |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Lightweight Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Metal Alloys |
| 9.1.2.Aluminum |
| 9.1.3.Steel |
| 9.1.4.Magnesium |
| 9.1.5.Titanium |
| 9.1.6.Composites & Polymers |
| 9.1.7.Carbon-Fiber Reinforced Plastic (CFRP) |
| 9.1.8.Glass-Fiber Reinforced Plastic (GFRP) |
| 9.1.9.Polymers |
| 9.1.10.Polycarbonate |
| 9.1.11.Polypropylene |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Aerospace |
| 9.2.2.Automotive |
| 9.2.3.Marine |
| 9.2.4.Wind |
| 9.2.5.Others (Transportation, Packaging, and Other Engineered Goods) |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) Lightweight Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Metal Alloys |
| 10.1.2.Aluminum |
| 10.1.3.Steel |
| 10.1.4.Magnesium |
| 10.1.5.Titanium |
| 10.1.6.Composites & Polymers |
| 10.1.7.Carbon-Fiber Reinforced Plastic (CFRP) |
| 10.1.8.Glass-Fiber Reinforced Plastic (GFRP) |
| 10.1.9.Polymers |
| 10.1.10.Polycarbonate |
| 10.1.11.Polypropylene |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Aerospace |
| 10.2.2.Automotive |
| 10.2.3.Marine |
| 10.2.4.Wind |
| 10.2.5.Others (Transportation, Packaging, and Other Engineered Goods) |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Lightweight Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Metal Alloys |
| 11.1.2.Aluminum |
| 11.1.3.Steel |
| 11.1.4.Magnesium |
| 11.1.5.Titanium |
| 11.1.6.Composites & Polymers |
| 11.1.7.Carbon-Fiber Reinforced Plastic (CFRP) |
| 11.1.8.Glass-Fiber Reinforced Plastic (GFRP) |
| 11.1.9.Polymers |
| 11.1.10.Polycarbonate |
| 11.1.11.Polypropylene |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Aerospace |
| 11.2.2.Automotive |
| 11.2.3.Marine |
| 11.2.4.Wind |
| 11.2.5.Others (Transportation, Packaging, and Other Engineered Goods) |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Lightweight Materials Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Metal Alloys |
| 12.1.2.Aluminum |
| 12.1.3.Steel |
| 12.1.4.Magnesium |
| 12.1.5.Titanium |
| 12.1.6.Composites & Polymers |
| 12.1.7.Carbon-Fiber Reinforced Plastic (CFRP) |
| 12.1.8.Glass-Fiber Reinforced Plastic (GFRP) |
| 12.1.9.Polymers |
| 12.1.10.Polycarbonate |
| 12.1.11.Polypropylene |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Aerospace |
| 12.2.2.Automotive |
| 12.2.3.Marine |
| 12.2.4.Wind |
| 12.2.5.Others (Transportation, Packaging, and Other Engineered Goods) |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.SABIC |
| 13.2.2.Aleris International |
| 13.2.3.Formosa Plastics Group |
| 13.2.4.PPG Industries Inc. |
| 13.2.5.Toray Industries Inc. |
| 13.2.6.Teijin Limited |
| 13.2.7.Mitsubishi Rayon Co. Ltd. |
| 13.2.8.SGL Group |
| 13.2.9.Hexcel Corporation |
| 13.2.10.Cytec Industries |
| 13.2.11.Jushi Group Co. Ltd |
| 13.2.12.Titanium Metals Corporation |
| 13.2.13.ALCOA Inc. |
| 13.2.14.Novelis Inc. |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
- SABIC
- Aleris International
- Formosa Plastics Group
- PPG Industries Inc.
- Toray Industries Inc.
- Teijin Limited
- Mitsubishi Rayon Co. Ltd.
- SGL Group
- Hexcel Corporation
- Cytec Industries
- Jushi Group Co. Ltd
- Titanium Metals Corporation
- ALCOA Inc.
- Novelis Inc.