Lightweight Materials Market By Type (Metal Alloys, Composites & Polymers, and Polymers), By Application (Aerospace, Automotive, Marine, Wind, and Others (Transportation, Packaging, and Other Engineered Goods) and Geography

Purchase Option

$ 4400
$ 6600
$ 8900

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 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.
  • 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.

Global Lightweight Materials Market Segmentation

By Type

  • Metal Alloys
  • Aluminum
  • Steel
  • Magnesium
  • Titanium
  • Composites &  Polymers
  • Carbon-Fiber Reinforced Plastic (CFRP)
  • Glass-Fiber Reinforced Plastic (GFRP)
  • Polymers
  • Polycarbonate
  • Polypropylene

By Application

  • Aerospace
  • Automotive
  • Marine
  • Wind
  • Others (Transportation, Packaging, and Other Engineered Goods)

Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Frequently Asked Questions

The 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.

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 Report

  • 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.

Adjacent Markets