Report Code: A01818 | Pages: 190 | Apr 2017 | 11133 Views | ||
Author(s) : Sumiran S | Tables: 125 | Charts: 28 |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Metal Replacement Market
Request Now !The replacement of metals with plastics or composites to achieve a relatively lighter, cheaper, and efficient output is termed as metal replacement market. Major end-use industries such as automotive, construction, healthcare, and packaging opt for this process.
Global Metal Replacement Market size was valued at $91,066 million in 2015 and is expected to reach $166,762 million by 2022, registering a CAGR of 9.0% during the forecast period. Owing to rise in demand for lightweight materials to be used in automobiles and manufacturing components of aircrafts, the global metal replacement market witnesses numerous growth opportunities. Also, the use of the process of metal replacement in different industries such as automotive, construction, aerospace and defense, healthcare, and consumer goods fuel the market growth during the forecast period.
The automotive industry offers maximum market potential in the global metal replacement market, due to rapid developments and advancements in the technologies adopted in the production of vehicle parts. Moreover, rise in the standard of living boosts the need for metal replacement in the construction industry. The use of this process in consumer goods has witnessed major developments, owing to constant R&D to replace home appliances with lightweight materials and the rise in demand for efficient and lightweight electricals and electronics. The automotive metal replacement market is expected to register a CAGR of 9.3% during the forecast period. Moreover, construction and packaging industries also promise market growth. Rise in concerns related to the toxicity of engineering plastics is projected to affect the metal replacement market in the developed and the developing countries, however, investments in R&D in new ecological alternatives are expected present opportunities for growth in the future.
The report segments the global metal replacement market based on type, end-user industry, and geography. Based on type, the market is divided into engineering plastics and composites. The engineering plastics segment is further sub-categorized into polyamide, ABS, thermoplastic polyesters, polycarbonates, polyacetals, fluoropolymers, and others. The composites segment is further bifurcated into GFRP and CFRP. Based on end-user industry, the market is divided into automotive, construction, aerospace & defense, packaging, healthcare, consumer goods, and others. The automotive segment is projected to register a significant CAGR during the forecast period. Geographically, the global metal replacement market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Leading market players have invested huge capital in R&D activities to develop advanced products to cater to the demand of end users. The major players in the metal replacement market are:
Metal Replacement Market Report Highlights
Aspects | Details |
---|---|
By Type |
|
By End Use Industry |
|
By Geography |
|
Key Market Players | JUSHI GROUP, BOEING, DU PONT, CELANESE CORPORATION, OWENS CORNING CORPORATION, SGL GROUP, SOLVAY SA, TORAY INDUSTRIES INC., BMW |
Loading Table Of Content...
The replacement of metals with plastics or composites to achieve a relatively lighter, cheaper, and efficient output is termed as metal replacement. Replacing metals with plastics helps in the curtailment of the weight and total costs of the concerned structure.
High demand for lightweight materials to be used in manufacturing components of aircrafts and automobiles boosts the growth of the market. In addition, developments and advancements in the technologies adopted in the production of vehicle parts as well as increase in demand from developing countries, such as China and India, owing to rapid urbanization and rise in consumer spending capabilities, fuel the growth of the market.
The Asia-Pacific metal replacement market offers numerous opportunities for the manufacturers, owing to enhanced production of automobiles in China and India. In addition, increase in demand for efficient and cost-effective lightweight materials, and rise in disposable income in the developing economies, such as Korea and Indonesia drive the Asia-Pacific market. North America is estimated to account for the second largest market share, followed by Europe.
Start reading instantly.
This Report and over 54,961+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers