Metal Replacement Market by End-Use Industry (Automotive, Aerospace & Defense, Construction, Healthcare, Others), Type (Engineering Plastics, Composites), and Region - Global Forecast to 2021
Metal replacement market is projected to reach USD 159.82 billion by 2021
The metal replacement market is projected to reach USD 159.82 billion by 2021, at a CAGR of 9.2% from 2016 to 2021. Increasing consumption of metal replacing materials in the automotive and construction industries is one of the most significant factors driving the growth of this market.
Whereas, high cost of materials is expected to restrict the market’s growth.
Composites segment to register high growth in the metal replacement market
Composites are the most prominent metal replacing materials, owing to their exceptional performance. Composites offer several advantages, such as superior weight to strength ratio, superior thermal resistance, good corrosion resistance, and high impact resistance. Composites are used in varied end-use industries, such as aerospace & defense, automotive, and construction.
Asia-Pacific market projected to grow at the highest CAGR during the forecast period
The Asia-Pacific metal replacement market is anticipated to grow at the highest CAGR between 2016 and 2021. Growth in this market is driven by the increasing demand for metal replacing materials from China and India. China, with increasing demand from its construction and automotive industries, is the major consumer of metal replacing materials in the Asia-Pacific region. Among all countries in this region, the Indian market is expected to grow at the highest CAGR during the forecast period.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
By Company Type: Tier 1 – 33%, Tier 2 – 42%, and Tier 3 – 25%
By Designation: C Level – 50%, Director Level – 33%, and Others – 17%
By Region: Europe – 42%, North America – 25%, Asia-Pacific – 17%, South America – 8%, and Middle East & Africa – 8%
Major companies profiled in this report are Solvay SA (Belgium), SGL-Group (Germany), Owens Corning Corporation (U.S.), Celanese Corporation (U.S.), BASF SE (Germany), Toray Industries, Inc. (U.S.), and Jushi Group (China).
This report offers an overview of the market trends, drivers, and challenges with respect to the metal replacement market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and Latin America. The report categorizes the metal replacement market on the basis of type, end-use industry, and region. A detailed analysis of leading players, along with key growth strategies adopted by them, is also covered in the report.
Reasons to buy the report
This report covers the following key aspects:
What will be the market size by 2021 and what will be the growth rate
What are the key market trends
What are the factors expected to drive the growth of the market
What are the challenges that impact market growth
Who are the key players in this market
Global report covers key regions, such as North America, Europe, and Asia-Pacific, including major countries in these regions, such as the U.S., China, India, Russia, and Germany