Opportunity Worth USD 130 Bn Opening Up in Lightweighting Materials - Exclusive Research Published by MarketsandMarkets™

CHICAGO, Feb. 10, 2022 /PRNewswire/ -- Disruption – EVs, FCVs, flying taxis, and growing demand for fuel efficient vehicles is expected to disrupt the materials market and pave the way for lightweighting materials to grow to US$130 Bn revenue opportunities in the coming years.

According to MarketsandMarkets™ analysis,

• There is ~USD 130 Bn market opportunity within lightweighting market, majority of which is contributed by final processing and others processes of value of composites materials.
• Lightweighting market is estimated to grow at a healthy CAGR of 7%-8% in the coming 5 years, driven by the increasing demand from various end-use industries including, automotive, wind energy, aerospace & defense, pipe & tank, etc.
• Adjacent end-use industry markets hold a potential of over USD 1400 Bn in lightweighting market.

Currently, businesses have low access to primary intelligence to clarify some unknowns and adjacencies in these opportunity areas –

• Electric vehicle to autonomous car new and old ecosystem is evolving like never before; composites alloys and additive are at the center of this change.
• Wind energy sector is expected to replace automotive in terms of carbon fiber composites consumption owing to growth in offshore wind turbine installation.
• Developments in battery technology and charging infrastructure adoption of EVs is expected to drive the demand of lightweighting material in coming 5 years.
• Aggressive clean energy policies adopted by China and India is paving the way for high growth of composites market in these countries.
• Defence and civil UAVs market is expected to grow multifold in next 10 years, thus making it one of the key markets for lightweighting material.

Some of the growth problems encountered by lightweighting companies are:

Customer prioritization and assessing unmet needs:

• What are the disruptions in our clients' businesses? How can we support them for our own growth?
• Who are the most potential customers going forward? Should we Aerospace, UAVS, and defense companies or EVs & FCVs?
• What are the key unmet needs of customers? Who are the key stakeholders in different settings? Do vendor selection criteria differ by settings? Which new product features should be added to the existing products?

Where to play:

• Which applications, material, and Industry areas should we focus on? Should it be composites material, aluminum alloys, engineering plastics or any other?
• Which regions should we place our bets on? Should we continue with developed countries or do developing countries offer more growth opportunities?

Building a compelling Right-to-Win (RTW):

• For M&A, which are the right targets for us? Should we target raw material companies, intermediate material, or component manufacturers? Should we enter new markets directly or through partners?
• How can we differentiate from top players? What is their right-to-win vs ours?

Key uncertainties/perspectives which industry leaders seek answers to:

For lightweighting companies:

• What material will be relevant and redundant in the next 5 years?
• Can carbon fiber composites become affordable for mass application, or will it continue being used for high-end application?
• What is the level of awareness that will be required for lightweighting material?
• How can companies optimize the manufacturing processes to reduce cost to achieve a mass adoption of lightweighting material such as composites and alloys?
• What regulatory policies can help strategize and achieve volumetric scale-up?
• What can be done to achieve higher market share in particular market?

For Companies in Adjacent markets:

• What are the recycling policies that might impact demand of lightweighting material?
• What are the emission & environment policies of different countries? How will it impact lightweighting material demand?
• What will be future scenario of the aerospace industry and how will it impact demand of composites material and lightweighting alloys?
• What will be the impact of automation on the Lightweighting Material market?

Therefore, MarketsandMarkets™ research and analysis focuses on high growth and niche markets, such as graphene, carbon fiber, medical composites, sic fiber, CMC, and related markets, which will become ~80% of the revenues of lightweighting materials ecosystem in the next 5-10 years.

Register for Whitepaper: https://www.marketsandmarkets.com/practices/pdfdownload.asp?p=Lightweighting 

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