Metal Replacement Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Metal Replacement Market size may witness steady gains owing to increasing application scope in construction and automotive sectors. It is used as a substitute for other materials including plastics, composites, aluminum, and thermoplastics in the manufacturing process which provides light weight, low operating cost and efficient finished products manufacturing.
 

Global composites market size registered over USD 23 billion in 2015 and may surpass USD 110 billion in business by 2024. Strong application scope in defense & aerospace, transportation, and wind energy owing to strength, stiffness, thermal & electrical conductivity, and corrosion resistance properties may drive industry growth. They are extensively used in transportation and aerospace industries due to low weight, thereby favoring metal replacement market growth.
 

Aerospace composites has wide structural applications owing to superior performance, high strength, and weather resistance. Global aerospace composites market may witness gains at over 9% due to strict environmental norms regarding fuel efficiency and use of light weight materials in aircrafts should which should fuel industry growth. Growth in commercial and defense aerospace industry mainly in Asia Pacific will metal replacement demand.
 

Glass fiber finds application in wind energy, aerospace and construction industry due to inherent strength, weather resistance, light weight and texture which is likely to favor product demand Many manufacturers such as Owens Corning, U.S. collaborated with two Chinese manufacturers to increase supply of tailor made glass fiber which is another contributing factor towards metal replacement market growth. 
 

Strong application outlook of engineering plastics in construction and automobile sector due to their durability, low densities and designing flexibility may stimulate industry growth. Polycarbonates, polyamides, acrylonitrile butadiene styrene (ABS), polyphenylene ether, polysulphone and thermoplastic polyesters are some of the prominently used engineering plastics.
 

ABS market was valued at over USD 20 billion in 2015 and may register growth up to USD 35 billion by 2024 with gains at over 6.5%. Rise in fuel efficient and light weight metal replacements demand mainly in electronics and construction industry may boost product demand in foreseeable timeframe.
 

DuPont launched Zyntel HTN which is a partially aromatic nylon and a high-performance polyamide resin. It offers stiffness, balance of strength and impact performance as compared to metal as well as glass fiber reinforced polyamide.
 

Increasing life expectancy due to rising expenditure on medical treatments along with growing health concerns may promote metal implants demand thereby driving metal replacement market size. However, stringent regulatory norms accompanied with competitive market prices and complex manufacturing process may limit industry growth.
 

Asia Pacific, driven by India, Japan and China metal replacement market may grow significantly over the forecast timeframe. Increasing investments in automobile and construction industries may favor product demand. Strong application scope in petrochemicals, electrical & electronics, packaging and chemicals may fuel engineering plastics demand thereby driving metal replacement market size in the region.
 

North America, led by the U.S metal replacement market size, may witness steady growth. Composites, automobile application may exceed USD 4 billion with gains at over 7% by 2024. Increasing production and lightweight materials demand to enhance fuel efficiency & environmental concerns regarding carbon emission may contribute towards rise in product demand. Favorable regulatory guidelines led by U.S. government regarding average fuel efficiency which requires lightweight materials may support metal replacement demand.
 

Europe, led by UK, Italy and Germany metal replacement market size, may witness significant gains. Engineering plastics accounted for over 35% share in 2015. Many prominent manufacturers such as BASF are engaged into product developments and capacities expansion which results in increasing production thereby expanding product market size.
 

High material cost may challenge industry profitability and affect metal replacement market price trend. However, investments in automotive and defense sector may drive industry growth.
 

Global metal replacement market share is moderately fragmented. Prominent player in this industry includes SGL, Celanese, Owens Corning, Solvay SA, BASF SE, Jushi Group and Toray Industries.
 

What Information does this report contain?