Lightweight Materials Market Size To Reach USD 276.81 Billion By 2027 By Top Players | Evonik Industries, Bayer AG, Precision Castparts Corp, Toray Industries, PPG Industries

Lightweight Materials Market Size To Reach USD 276.81 Billion By 2027 By Top Players | Evonik Industries, Bayer AG, Precision Castparts Corp, Toray Industries, PPG Industries

Lightweight Materials Market
The growing regulations on vehicle emissions and an increasing number of renewable energy projects are driving the demand for the market.

Market Size – USD 145.73 Billion in 2019, Market Growth – CAGR of 8.3%, Market Trends – High demand from developing nations.

The global Lightweight Materials market is forecast to reach USD 276.81 Billion by 2027, according to a new report by Reports and Data. The market is witnessing a surge in demand, owing to the increasing emission reduction regulations from many industries. Increasing government investments in renewable energy projects, such as hydro-energy and wind energy, are also driving the demand for the market.

An increase in the manufacture of aircraft modules, along with the rise in the penetration of lightweight components, is leading to a surge in demand for the market. Aluminum, Polymers and composites and high strength steel are used to meet the industry’s emission and safety standards extensively. Automobile makers have started to work on innovations in multi-material design, which involves working on lightweight materials in an attempt to increase the fuel-efficiency of vehicles. Usage of polymers and composites in designing vehicles will increase due to their property of being lightweight. This is expected to lead to an increased demand for the market.

Get a Sample of the Report @

Fluctuating prices of raw materials are expected to hamper the demand for the market. Also, carbon fiber is a relatively expensive raw material, which can lead to a decline in its growth in the automotive segment. Constraints regarding safety and technology, which limit the use of certain materials in certain industries are also expected to lead to a diminished demand for some materials.

The COVID-19 impact:

The COVID-19 Pandemic has led to the lockdowns in most of the countries around the globe. Due to the lockdowns, major industries have been forced to shut down. The same goes for the Lightweight Materials market, where the manufacturers have halted operations currently. The demand has also been declining since most of the industries where lightweight materials were used, such as Automotive and Aviation, have also not been operating.

It is expected that once the situation becomes normal again, and the industries start functioning, the demand for the market will rise. Also, manufacturers who are not able to operate currently are involved in innovations so that once the industries open, new innovations would help them gain a greater market share and would lead to a rise in the overall demand for the market.


Key participants include:

  • Evonik Industries
  • Bayer AG
  • Precision Castparts Corp
  • Toray Industries
  • PPG Industries
  • Alcoa
  • Formosa Plastics Group
  • Aleris International
  • Cytec Solvay Group
  • among others.


For the purpose of this report, Reports and Data have segmented into the global Lightweight market on the basis of product, application, distribution channel, and region:


Product Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Billion; 2017-2027)

  • High Strength Steel
  • Aluminum
  • Polymers and Composites
  • Magnesium
  • Titanium
  • Others


Application Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Billion; 2017-2027)

  • Automotive
  • Aviation
  • Energy
  • Others


Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Billion; 2017-2027)

  • Offline Stores
  • Online Stores (E Commerce)


Regional Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Billion; 2017-2027)

  • North America
    • U.S
  • Europe
    • U.K
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • MEA
  • Latin America
    • Brazil


Further key findings from the report suggest

  • Aviation occupied 8.3% of the market in 2019. The aviation industry uses lightweight materials, as they provide the advantage of better fuel-efficiency. The aviation industry is witnessing innovations every day, and the growing air traffic is expected to drive the demand for the aviation industry, and in turn, the lightweight materials market.
  • High Strength Steel is forecasted to grow at a CAGR of 9.4% in the forecast period. The primary reason for this is the substitution of traditional steel with High Strength steel because of its lightweight properties. It is known to reduce the weight of vehicles by around 25.0%, because of which it is highly used in the automotive sector. Also, the recycle value of the product is increasing steadily, which is expected to drive the growth for the market.
  • Online Stores occupied 23.7% of the market share in 2019. The primary reason for this is that online stores are still in the developing stage to sell products, such as lightweight materials. Also, consumers like to touch and feel the product before buying, because of which online stores currently occupy a smaller market share,
  • North America occupied the second-largest market share of 19.7% in 2019. This is due to the increasing demand for automobiles in the region. Also, a large number of vehicle manufacturers are present in countries like the US and Canada, which drive the growth of the market in the region. Polymers and composites are growing in the region, due to their extensive use in the energy and automotive sectors.
  • In Latin America, the market is growing continuously because of the increasing number of manufacturers of lightweight materials. Also, in Europe, the market is forecasted to grow at a CAGR of 8.2%, the second-highest among all regions. The primary reason for this is the presence of wind energy equipment and aircraft manufacturers in the region.


Table Of content:

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2019-2027

Chapter 3. Indicative Metrics

Chapter 4. Lightweight Materials Segmentation & Impact Analysis

    4.1. Lightweight Materials Material Segmentation Analysis


Chapter 10. Company Profiles

    10.1. Evonik Industries

           10.1.1. Company Overview

           10.1.2. Financial Performance

           10.1.3. Technology Insights

           10.1.4. Strategic Initiatives

    10.2. Bayer AG

             10.2.1. Company Overview

             10.2.2. Financial Performance

             10.2.3. Technology Insights

             10.2.4. Strategic Initiatives

    10.3. Precision Castparts Corp.

            10.3.1. Company Overview

            10.3.2. Financial Performance

            10.3.3. Technology Insights

            10.3.4. Strategic Initiatives

    10.4. Toray Industries Inc.

            10.4.1. Company Overview

            10.4.2. Financial Performance

            10.4.3. Technology Insights

            10.4.4. Strategic Initiatives

    10.5. PPG Industries Inc.

             10.5.1. Company Overview

             10.5.2. Financial Performance

             10.5.3. Technology Insights

             10.5.4. Strategic Initiatives

    10.6. Alcoa Inc.

             10.6.1. Company Overview

             10.6.2. Financial Performance

             10.6.3. Technology Insights

             10.6.4. Strategic Initiatives

    10.7. Formosa Plastics Group

            10.7.1. Company Overview

            10.7.2. Financial Performance



Request for Customization of Report @


Thank you for reading our report. Customization of the report is available according to the requirements of the clients. Kindly get in touch with us to know more about the report, and our team will ensure the report is tailored according to your needs. 


About Reports and Data:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Media Contact
Company Name: Reports and Data
Contact Person: John Watson
Email: Send Email
Phone: +1-212-710-1370
Address:40 Wall St. 28th floor
City: New York City
State: NY 10005
Country: United States