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Demand from Automotive Industry Driving Global Lightweight Materials Market.
Due to this clear benefit of lightweight materials in today’s environmentally conscious times, the global lightweight materials market is expected to grow at a CAGR of 5.8% from 2014 to 2020. The market, which totaled 54,340.3 kilo tons in 2013, is expected to grow from a 2013 valuation of close to US$126 billion to an estimated US$186.3 billion in 2020.
Transportation Dominates Global Lightweight Market
As mentioned before, usage in the manufacture of various vehicles is the major driver boosting the global lightweight materials market? Accordingly, the transportation application segment accounted for 85% of the global market in 2013, according to leading market intelligence firm Transparency Market Research. The automotive industry has a major role in the lightweight materials market’s growth trajectory, with the usage of lightweight, environmentally viable materials growing steadily, even in passenger cars.
Apart from transportation, energy generation materials such as wind turbines constitute a major part of the demand from the global lightweight materials market. Body armor, which needs to be light and strong in order to provide protection to the user while not encumbering his/her movement, is another rising application of lightweight materials.
In terms of material, aluminum dominates the global lightweight materials market, due to the ease of its application in vehicle production. Various polymers are expected to dominate the future of the global lightweight materials market, due to the heavily funded R&D infrastructure and their customizability for various applications.
Carbotanium the Latest Arrival in the Automotive Manufacturing Scenario
Polymers are among the latest developments in automotive manufacture, with the lightweight materials providing high strength at a much lower weight than conventional materials such as steel. Carbotanium is the latest kid on the block, used by sports carmaker Pagani on their flagship, the Huayra. The material, designed by Modena Design in order to provide the optimum combination of titanium’s strength and carbon fiber’s lightness, could become the next big thing in premium sports car design in the next few years, with the Huayra’s Roadster version slated to be released in the 2016 Geneva Motor Show.
Further down the fiscal hierarchy, carbon fiber is being used in several passenger cars these days. “Hot” versions of run-of-the-mill passenger cars, in particular, often utilize carbon fiber due to its light weight and high strength-to-weight ratio. This is set to become a widespread trend in the automotive world in the coming years, propelling the global lightweight materials market.
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