Lightweight Construction Materials Market Sales, Share, Growth and Forecast 2027
Global Lightweight Construction Materials Market: Snapshot
The advent lightweight construction materials have opened a new, lucrative avenue for engineers and construction in the building and construction industry over the past few years. Around the world, the array of such materials is expanding, with new hopes pinned on leveraging the potential of new engineering technologies. A case in point is the growing potential of 3D manufacturing. In addition, new manufacturing techniques based on nanotechnologies are helping market players attract industry players. Strides in the lightweight construction materials market are advancing the scope of innovations in the construction industry by opening new designs and sturdier buildings. To fulfil the objectives, a range of biomaterials have been tested over recent years, and engineers are engaging in studies by modifying them to suit the end-use industry ends. These biomaterials are markedly lightweight yet have promising strength-to-weight ratio. In this regard, engineered wood has risen in popularity.
However, the safety and performance of lightweight construction materials have been under constant scanner. This is due to the fact that buildings made with these materials have been found to have high risk to fire hazards. Moreover, there still is dearth of lightweight construction materials of good stability similar to those of high-performance steel or aluminum. Growing use of 3D technologies such as laser lithography in numerous studies over the past five years has expanded the advent of novel materials in the market. Further, several of such studies have shown microstructured materials inspired by nature to have high scope in the lightweight construction materials market. The focus of making buildings more energy efficient by governments to reduce the carbon footprint of these constructions is also filliping the demands for lightweight construction materials. Growing numbers of lightweight construction projects in developed nations is a key factor boosting the market.
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.
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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
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