Wellesley, Massachusetts – The global market value of lightweight materials for transportation equipment is expected to increase to nearly US$125.3 billion in 2015, compared with $95.5 billion in 2010, according to BCC Research.
The consumption of these lightweight materials is projected to reach 67.7 million tons in 2015, up from 46.7 million tons in 2010.
Reducing structural weight is one of the most important ways of reducing fuel consumption, with an estimated 75 per cent of an average automobile’s fuel economy directly related to factors associated with vehicle weight. Weight-reducing technologies are also critical to the success of new, highly-efficient technologies such as hybrids.
The report said that the aircraft industry was the first to introduce lightweight materials such as aluminum alloys on a widespread scale beginning in the 1920s.