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ID: 8255
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Metal Replacement Market By Type (Composites, Engineering Plastics), End-Use Industry (Automotive, Aerospace & Defense, Construction, Healthcare, Others), and Region (Latin America, North America, Asia Pacific, Europe, Middle East and Africa) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2021 – 2026)

Pulished: April, 2021
ID: 8255
Pages: 170

Metal Replacement Market Size, Share & Growth (2021 - 2026)

The size of global Metal Replacement Market is predicted to reach $ 162.59 billion by 2026, at a compound annual growth rate of 11.6% from 2021 to 2026.

Developing and manufacturing of new products requires more resources and is more complex than ever. As a result, the bulbs slowly move towards metal substitution. It is widely recognized for reducing weight, production and costs. Metal substitute materials are employed in industries such as aerospace and defense, automotive, healthcare, and construction. The materials employed are engineering plastics and composite materials such as carbon fiber reinforced plastics and glass fiber reinforced plastics.

Metal replacement materials have superior properties, such as mechanical strength and resistance to heat and chemicals, and are generally employed in applications that require a higher level of performance. These materials are also lighter than commonly employed metals. As such, they have replaced conventional engineering composites, like wood and metal, in several implementations. In addition to matching or exceeding traditional materials in terms of weight/strength and other properties, metal replacement materials, such as engineering plastics, are much easier to manufacture, especially in complex shapes.

Recent Developments 

  • Royal DSM, a worldwide scientific firm present in the health, nutrition and composites, is once again rising its variety of 4T polyamide-based ForTii® high-performance polyphthalamide.

  • Research people from the Indian Madras Institute of Technology (IITM), and also the frim the University of North Texas and the United States Army Research Laboratory, have created a magnesium alloy with notably enhanced features that can replace steel and aluminum in automotive and aerospace parts.

Metal Replacement Market Drivers and Restraints

The global metal replacement market has seen a dramatic increase in recent times and is predicted to continue on a healthy expansion path in the coming years. Metal replacement materials are employed in heavy transport vehicles as well as light automobiles. They also have a wide range of applications in different industries outside of the automotive industry. Due to this factor, the intensive use of metal replacement techniques indirectly stimulates the worldwide automotive market. The size of the metal replacement market could experience constant gains due to the broader reach in the construction and automotive sectors. It is employed as a substitute for other materials, including plastics, composites, aluminum, and thermoplastics in the manufacturing process, allowing for light, economical, and efficient manufacturing of finished products.

The expansion of the global metal replacement market is primarily driven by end-user sectors such as aerospace, defense, and construction. In recent times, infrastructure development has gained importance, especially in developing countries. Additionally, the escalating use of engineering plastics as an alternative to traditional materials in end-user industries provides a market boost. The worldwide metal replacement market is predicted to experience a large increase in the near future. Escalated investment by major automakers is the main reason that has fueled the expansion of the global market. Also, the escalating call for metal replacement materials in the construction sector is also driving expansion in the worldwide market. Besides, rapid industrialization is also stimulating expansion in the world market. A growing awareness of the benefits of metal replacements is promoting the expansion of the global metal replacement market. Furthermore, the lack of job opportunities is the main reason for the expansion of the world metal replacement market.

The high cost of producing the replacement process is one of the reasons that is holding back the expansion of the world market. Likewise, the high cost of raw materials is also one of the reasons hampering the expansion of the world market. Furthermore, the high cost of labor for metal and high cost of transportation also contributes to the decline of the international market. The escalating call for lightweight materials for use in automobiles and various aircraft manufacturing components has created significant expansion opportunities for the global metal replacement market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021 - 2026

CAGR

11.6%

Segments Covered

By Product, Type, Application, Distribution Channel and Region

 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

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).

 

Metal Replacement Market

Metal Replacement Market Segmentation

Metal Replacement Market - By End-use 

  • Automotive
  • Aerospace and defense
  • Construction
  • Healthcare
  • Others

In the automotive industry, metal replacement materials are employed in the manufacture of vehicle body parts, as well as various components under the hood. As a result, escalated automotive production, along with repair and maintenance activities, are predicted to drive call for metal substitute materials in the automotive industry.

Metal Replacement Market - By Type

  • Engineering plastics
  • Composites

In the engineering plastics segment, acrylonitrile butadiene styrene would represent the largest market share, owing to the monitoring of polyamides and polycarbonates. In the composites segment, GFRP represented the largest share in 2020 by volume.

Metal Replacement Market - By Region

The Metal Replacement Report includes the segmentation of Regions with their respective Countries.

  • North America Metal Replacement Industry includes U.S, Canada.

  • Europe Metal Replacement Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

  • Asia Pacific Metal Replacement Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

  • Latin America Metal Replacement Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

  • The Middle East & Africa Metal Replacement Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

The metal replacement market in the Asia-Pacific region is predicted to grow at the highest annual rate between 2020 and 2025. This region has undergone significant infrastructure development in recent years, leading to the launch of various home construction projects. The region's construction industry is predicted to grow at a steady rate of 5.8% between 2020 and 2025. Therefore, this has led to an increase in call for metal replacement materials in the construction sector for replacing steel bars for concrete reinforcement and for the manufacture of sewer systems. Furthermore, the strong expansion of the market in Asia Pacific is also attributed to the escalating call for metal replacement materials to manufacture light and fuel-efficient vehicles. Escalated investment by major automakers is stimulating the worldwide market in Canada and the United States. The growing call for metal substitutes from the construction industry is driving the worldwide market in India and China. Rapid industrialization will stimulate the world market in Europe. The rest of the world will experience slow expansion in the global market in the near future.

Key Players:

  1. Solvay SA (Belgium)

  2. SGL-Group (Germany)

  3. Owens Corning Corporation (U.S.)

  4. Celanese Corporation (U.S.)

  5. BASF SE (Germany)

  6. Toray Industries, Inc. (U.S.)

  7. Jushi Group (China)

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 Composites            

                                5.1.3 Engineering Plastics             

                                5.1.5 Y-o-Y Growth Analysis, By Type     

                                5.1.6 Market Attractiveness Analysis, By Type   

                                5.1.7 Market Share Analysis, By Type     

                5.2 End-Use Industry                     

                                5.2.1 Introduction           

                                5.2.2 Automotive            

                                5.2.3 Aerospcace & Defence      

                                5.2.4 Construction          

                                5.2.5 Healthcare              

                                5.2.6 Others      

                                5.2.5 Y-o-Y Growth Analysis, By End-Use Industry            

                                5.2.6 Market Attractiveness Analysis, By End-Use Industry          

                                5.2.7 Market Share Analysis, By End-Use Industry            

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Product

                                                6.1.3.3 By Type

                                                6.1.3.4 By Application

                                                6.1.3.5 By Indication

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Product

                                                6.1.4.3 By Type

                                                6.1.4.4 By Application

                                                6.1.4.5 By Indication

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Product

                                                6.1.5.3 By Type

                                                6.1.5.4 By Application

                                                6.1.5.5 By Indication

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 BASF SE                        

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Solvay SA                     

                8.3 SGL-Group                  

                8.4 Jushi Group                

                8.5 Owens Corning Corporation                

                8.6 Toray Industries, Inc.                              

                8.7 Celanese Corporation                            

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of by  end user,by application,by  region, along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Metal Replacement  Market By Region, From 2021-2026( USD Billion )

  2. Global Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  3. Global Composites Market By Region, From 2021-2026( USD Billion )

  4. Global Engineering Plastics Market By Region, From 2021-2026( USD Billion )

  5. Global Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  6. Global Automotive Market By Region, From 2021-2026( USD Billion )

  7. Global Aerospace & Defence Market By Region, From 2021-2026( USD Billion )

  8. Global Construction Market By Region, From 2021-2026( USD Billion )

  9. Global Healthcare Market By Region, From 2021-2026( USD Billion )

  10. Global Others Market By Region, From 2021-2026( USD Billion )

  11. North America Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  12. North America Composites Market By Region, From 2021-2026( USD Billion )

  13. North America Engineering Plastics Market By Region, From 2021-2026( USD Billion )

  14. North America Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  15. North America Automotive Market By Region, From 2021-2026( USD Billion )

  16. North America Aerospace & Defence Market By Region, From 2021-2026( USD Billion )

  17. North America Construction Market By Region, From 2021-2026( USD Billion )

  18. North America Healthcare Market By Region, From 2021-2026( USD Billion )

  19. North America Others Market By Region, From 2021-2026( USD Billion )

  20. United States Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  21. United States Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  22. Canada Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  23. Canada Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  24. Europe Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  25. Europe Composites Market By Region, From 2021-2026( USD Billion )

  26. Europe Engineering Plastics Market By Region, From 2021-2026( USD Billion )

  27. Europe Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  28. Europe Automotive Market By Region, From 2021-2026( USD Billion )

  29. Europe Aerospace & Defence Market By Region, From 2021-2026( USD Billion )

  30. Europe Construction Market By Region, From 2021-2026( USD Billion )

  31. Europe Healthcare Market By Region, From 2021-2026( USD Billion )

  32. Europe Others Market By Region, From 2021-2026( USD Billion )

  33. U.K. Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  34. U.K. Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  35. Germany Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  36. Germany Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  37. France Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  38. France Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  39. Italy Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  40. Italy Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  41. Spain Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  42. Spain Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  43. Asia Pacific Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  44. Asia Pacific Composites Market By Region, From 2021-2026( USD Billion )

  45. Asia Pacific Engineering Plastics Market By Region, From 2021-2026( USD Billion )

  46. Asia Pacific Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  47. Asia Pacific Automotive Market By Region, From 2021-2026( USD Billion )

  48. Asia Pacific Aerospace & Defence Market By Region, From 2021-2026( USD Billion )

  49. Asia Pacific Construction Market By Region, From 2021-2026( USD Billion )

  50. Asia Pacific Healthcare Market By Region, From 2021-2026( USD Billion )

  51. Asia Pacific Others Market By Region, From 2021-2026( USD Billion )

  52. Japan Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  53. Japan Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  54. China Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  55. China Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  56. India Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  57. India Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  58. Australia Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  59. Australia Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  60. South Korea Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  61. South Korea Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  62. Latin America Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  63. Latin America Composites Market By Region, From 2021-2026( USD Billion )

  64. Latin America Engineering Plastics Market By Region, From 2021-2026( USD Billion )

  65. Latin America Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  66. Latin America Automotive Market By Region, From 2021-2026( USD Billion )

  67. Latin America Aerospace & Defence Market By Region, From 2021-2026( USD Billion )

  68. Latin America Construction Market By Region, From 2021-2026( USD Billion )

  69. Latin America Healthcare Market By Region, From 2021-2026( USD Billion )

  70. Latin America Others Market By Region, From 2021-2026( USD Billion )

  71. Brazil Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  72. Brazil Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  73. Argentina Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  74. Argentina Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  75. Mexico Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  76. Mexico Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  77. Rest of Latin America Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  78. Rest of Latin America Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  79. Middle East and Africa Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  80. Middle East and Africa Composites Market By Region, From 2021-2026( USD Billion )

  81. Middle East and Africa Engineering Plastics Market By Region, From 2021-2026( USD Billion )

  82. Middle East and Africa Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  83. Middle East and Africa Automotive Market By Region, From 2021-2026( USD Billion )

  84. Middle East and Africa Aerospace & Defence Market By Region, From 2021-2026( USD Billion )

  85. Middle East and Africa Construction Market By Region, From 2021-2026( USD Billion )

  86. Middle East and Africa Healthcare Market By Region, From 2021-2026( USD Billion )

  87. Middle East and Africa Others Market By Region, From 2021-2026( USD Billion )

  88. Middle East Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  89. Middle East Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

  90. Africa Metal Replacement  Market By Type, From 2021-2026( USD Billion )

  91. Africa Metal Replacement  Market By End-Use Industry, From 2021-2026( USD Billion )

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