Metal Replacement Market Size, Share, Growth & Forecast 2023-2028

Metal Replacement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A4978

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Market Overview:

The global metal replacement market size reached US$ 167.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 275.2 Billion by 2028, exhibiting a growth rate (CAGR) of 8.2% during 2023-2028.

Metal replacement refers to the substitution of metals with high-performance polymers, ceramics and composites. Some of the commonly used metal replacement materials include polycarbonates, polyamides, acrylonitrile butadiene styrene (ABS), thermoplastic polyester, fluoropolymers and polyacetals. In comparison to the traditionally used metals, they are lightweight and offer enhanced material performance, cost-effectiveness, thermal, acoustic, electrical and vibration insulation and corrosion and chemical resistance. They are also convenient to manufacture and can be molded into complex shapes. As a result, they find extensive application across various industries, including aerospace, defense, automotive, healthcare and construction.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Metal Replacement Market Trends:

The increasing adoption of engineering plastics across industries is one of the key factors driving the growth of the market. Moreover, the widespread adoption of metal replacement in the aerospace and automotive industries is providing a thrust to the market growth. Metal replacing materials exhibit superior mechanical strength and heat resistance and are widely used for the manufacturing of connectors, under-the-hood components, reflectors and lighting sockets. They are also used for the production of lightweight and compact aerospace components that exhibit enhanced structural strength and durability. In line with this, the widespread adoption of polyphenylsulfone for medical and high-temperature applications is also contributing to the growth of the market. Additionally, the increasing utilization of metal replacement in residential and commercial construction projects is acting as another growth-inducing factor. These materials are utilized to substitute steel rods, concrete reinforcements and produce effective sewage systems. Other factors, including the increasing requirement for lightweight components across industries, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global metal replacement market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and end use industry.

Breakup by Type:

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Engineering Plastics
- Polyamide
- Acrylonitrile Butadiene Styrene (ABS)
- Thermoplastic Polyesters
- Polycarbonates
- Others
Composites
- Glass Fiber Reinforced Plastic
- Carbon Fiber Reinforced Plastic

Breakup by End Use Industry:

Automotive
Aerospace and Defense
Construction
Packaging
Consumer Goods
Healthcare
Transportation
Others

Breakup by Region:

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North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being A.K. Industries Inc., Asahi Kasei Corporation, Aztec Plastic Company, BASF SE, Celanese Corporation, China Jushi Co.Ltd., DOMO Chemicals GmbH, DuPont de Nemours Inc., SGL Carbon SE, Solvay S.A., Toray Industries Inc. and Victrex plc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, End Use Industry, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	A.K. Industries Inc., Asahi Kasei Corporation, Aztec Plastic Company, BASF SE, Celanese Corporation, China Jushi Co.Ltd., DOMO Chemicals GmbH, DuPont de Nemours Inc., SGL Carbon SE, Solvay S.A., Toray Industries Inc. and Victrex plc
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global metal replacement market was valued at US$ 167.8 Billion in 2022.

We expect the global metal replacement market to exhibit a CAGR of 8.2% during 2023-2028.

The increasing demand for lightweight components in the automobile sector based on their superior mechanical strength, lower carbon emissions, high heat resistance, etc., is primarily driving the global metal replacement market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in the temporary closure of numerous end use industries for metal replacement.

Based on the type, the global metal replacement market has been segmented into engineering plastics and composites. Currently, engineering plastics represent the largest market share.

Based on the end use industry, the global metal replacement market can be bifurcated into automotive, aerospace and defense, construction, packaging, consumer goods, healthcare, transportation, and others. Among these, the automotive industry accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global metal replacement market include A.K. Industries Inc., Asahi Kasei Corporation, Aztec Plastic Company, BASF SE, Celanese Corporation, China Jushi Co.Ltd., DOMO Chemicals GmbH, DuPont de Nemours Inc., SGL Carbon SE, Solvay S.A., Toray Industries Inc. and Victrex plc.

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