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Increasing focus on enhancing automotive fuel-efficiency and growing investments in renewable energy sector are key factors

VANCOUVER, BC, CANADA, January 13, 2022 /EINPresswire.com/ -- The Lightweight Materials Market size is expected to reach USD 303.82 Billion in 2028 and register a revenue CAGR of 8.3% during forecast period, according to latest analysis by Emergen Research. Steady market revenue growth is attributed to increasing focus on enhancing automotive performance and fuel efficiency.

Lightweight materials, including polycarbonate, polyamide, Carbon Fiber Reinforced Plastic (CFRP), and aluminum aid in reducing weight of vehicles, marine vessels, and aircraft among others, and thus improve fuel-efficiency by decreasing fuel consumption and Greenhouse Gas (GHG) emissions, thereby reducing environmental impact. Studies show that around 10.0% reduction in overall vehicle weight would lead to an increase in fuel efficiency of over 5.0%.

The Lightweight Materials Market research presents a sufficiently detailed understanding of market segmentation, application requirement, manufacturing conditions, cost of change, gross margin and acquisition and mergers, buying capability for the forecast period 2021-2028.Additionally, evaluation of the technology advancement- and whether the factor creates sustainability –can pose threat adds credibility to the complete study on the Lightweight Materials market.

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The strategic growth research technique adopted by the subject matter experts behind this study full weighs upon the product application, product types and important industry terminologies and definition to help business owners to build a robust business plan as well as a progressive map for their product and services. Moreover, the agile methods to assess various factors including demand and supply status, consumption volume, customer preference, spending capacity and import and export trends work as a boon to those diversifying in a new line of product. To triangulate the different aspects of data on the Lightweight Materials market critical data are showcased intellectually through resources such as infographics, charts, and tables.

Report Objective:

The report offers a complete analysis of the global Lightweight Materials market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations. Formosa Plastics Corporation, SABIC, PPG Industries Inc., Precision Castparts Corporation, Solvay SA, Alcoa Corporation, Toray Industries Inc., Evonik Industries AG, Novelis Inc., and Covestro AG.

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Key Findings

In June 2021, Nexeo Plastics, which is a firm engaged in distribution of thermoplastic resins, made an announcement about entering an agreement with Covestro AG for distribution of Polycarbonate/ABS filament used in 3D printing.

Among the product type segments, the plastics segment accounted for largest revenue share in 2020. Rising awareness pertaining to deterioration of the ecosystem by GHG emissions and rising demand for Electric Vehicles (EVs) are factors fueling steady demand for plastics. Use of plastics in automotive and aircraft manufacturing aids in improving fuel efficiency and gives added design freedom and flexibility. Also, plastics find extensive use in the packaging industry as it enables reduced total weight of various packaged products.

 Regional Bifurcation of the Lightweight Materials Market Includes:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report aims to provide a complete analysis of the global Lightweight Materials market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into market growth, size, and investment approaches. Additionally, the report provides an extensive analysis of the Lightweight Materials market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue.

Key Benefits of Buying the Global Lightweight Materials Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global Lightweight Materials Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global Lightweight Materials Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global Lightweight Materials Market

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Emergen Research has segmented the global lightweight materials market on the basis of product type, distribution channel, application, and region:

Product Type Outlook (Revenue, USD Billion; 2018–2028)

Plastics

Polycarbonate

Acrylonitrile Butadiene Styrene

Polyamide

Polyurethane

Polypropylene

Others

Metals

Aluminum

High Strength Steel

Titanium

Others

Composites

Carbon Fiber Reinforced Plastic

Glass Fiber Reinforced Plastic

Others

Elastomers

Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)

Direct

Indirect

Application Outlook (Revenue, USD Billion; 2018–2028)

Automotive

Aerospace

Energy

Marine

Others

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