May 4, 2020
Lightweight Construction Materials Market Analysis, Industry Outlook, Growth and Forecast 2027
Lightweight Construction Materials Market: Introduction
- Lightweight construction materials have lower density than water; however, their strength-to-weight ratio is higher than that of aluminum or steel
- Modern materials including composite materials used for lightweight construction are used across all industrial sectors in order to reduce production costs, improve product quality and functionality, and increase resilience. Additionally, the use of lightweight construction materials helps in optimizing the production processes and the use of materials in order to achieve maximum efficiency.
Key Drivers of Lightweight Construction Materials Market
- Rise in the adoption of lightweight materials and increase in the production of aircraft in developing countries are expected to augment the demand for advanced composites during the forecast period. This is anticipated to drive the global lightweight construction materials market in the near future.
- Growth of the aerospace & defense sector in countries such as India and China is likely to fuel the demand for lightweight materials such as aluminum for its use in the manufacturing of various parts of aircrafts. Properties of lightweight construction materials, such as enhanced dynamics and comfort, are likely to make aluminum the most significant lightweight construction material in the aerospace & defense sector.
- In addition, with rise in the competition in raw materials for production of various parts of automotive, car manufacturers and aluminum distributors are working closely with each other to decrease the overall weight of the vehicle structure. Aluminum offers a better cost-benefit ratio than any of its substitute materials, which makes it a material of choice for production of various automotive parts.
- Moreover, rise in investments in application-oriented research and development is likely to improve properties of materials in the near future. Optimization of the process for production of lightweight construction materials is expected to drive the global lightweight construction materials market during the forecast period.
To obtain all-inclusive information on forecast analysis of global Lightweight Construction Materials Market, request a Report Brochure here.
High Production Costs and Lack of Awareness among Consumers to Hamper Market
- Factors such as rapid fluctuations in raw material prices and high costs of carbon fibers is likely to restrict its use in the manufacturing of automotive components. This is expected to hinder the market during the forecast period.
- Lightweight construction materials are made by using sophisticated technologies those are not commercial on the large scale in the market. This, in turn, is expected to hamper the global market during the forecast period.
- Economic slowdown coupled with slowdown of the automotive sector in developing regions, such as Asia Pacific is expected to hamper sales of lightweight construction materials in the near future
Key Players Operating in Global Lightweight Construction Materials Market
The global lightweight construction materials market is highly consolidated concentrated, with top manufacturers accounting for a major share of the market. A few of the key players operating in the global market are:
- Henkel Corporation
- KGF Industrial Plants GmbH
- ThyssenKrupp AG
- Henkel Corporation
- Owens Corning Corporation
- LyondellBasell Industries N.V.
- Hexcel Corporation
- Zoltek Companies Inc.
- UC Rusal
- Aluminium Corporation of China
Request a COVID-19 Impact Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=72741