A latest technical and market research report from BCC Research indicates that the worldwide market value for the light weight materials utilized in a sector such as transport will witness a compound annual growth rate (CAGR) of 5.6% between 2010 and 2015.
The report titled, ‘Lightweight Materials in Transportation,’ states that the global market value for the lightweight materials was estimated to be $95.5 billion in 2010 and is expected to grow up to around $125.3 billion in 2015. It also projects that the consumption of materials will reach 67.7 mt in the year 2015 after witnessing a CAGR of 7.7% from its base rate figure of 46.7 mt in 2010.
The light weight materials play an important role in reducing the structural weight of the vehicles in order to improve the mileage ratio and cut down their fuel consumption. It is found that nearly 75% of the normal vehicles’ fuel consumption has a bearing on their weight. Vehicles with reduced weight offer consistent performance and meet the safety needs and perform more work by consuming less quantity of energy. Moreover weight reduction technologies and materials have become the essential components for the successful introduction of hybrid vehicles and other efficient technologies.
The report mentions the wide spread use of light weight materials that possess the needed strength, flexibility and functional standards in industries. It sites the aircraft industry as an example of introducing aluminum alloys way back in 1920 and continuing with the use of lightweight composite materials.
The report is prepared with an objective to provide an evaluation over the present business opportunities available for the suppliers of lightweight materials and those that will come during the next five years to assist them to improve their presence in the market. The report is aimed at assisting venture capitalists, investors, entrepreneurs, marketing executives and others about the available markets in the transportation sector. It also proves to be informative for users such as environmental and public policy groups focused on energy conservation, ecology, transportation and sustainable energy development and government agencies.
Source: http://www.bccresearch.com/