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Metal Replacement Market - Global Industry Analysis

Metal Replacement Market By Type (Engineering Plastics and Composites) and By End Use Industry (Aerospace & Defense, Automotive, Healthcare, Construction and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2021 – 2028

Published Date: 25-Nov-2021 Category: Automotive Report Format : PDF Pages: 136 Report Code: ZMR-1013 Status : Published

The Global Metal Replacement Market accounted for more than USD 164.65 Billion in 2020 and is expected to reach more than USD 318.57 Billion by 2028, growing at a CAGR of more than 8.62% from 2021 to 2028.

Description

Market Overview

The Global Metal Replacement Market accounted for more than USD 164.65 Billion in 2020 and is expected to reach more than USD 318.57 Billion by 2028, growing at a CAGR of more than 8.62% from 2021 to 2028.

Metal Replacement is a process used for the replacement of metals with composites or plastics in order to have cheaper, lighter and efficient output. Materials used for metal replacement should exhibit superior properties such as chemical and heat resistance, high mechanical strength and are used in application that require high level of performance. They have been able to successfully replace conventional engineering materials due to the benefits it offers to the end-user industries. The process is generally being utilized by major end-users such as healthcare, construction, automotive and packaging industries.

Global Metal Replacement Market Size

COVID-19 Impact Analysis

Due to Covid-19 there has been a significant decrease in the production and demand and with the disruption of supply chain there has been a significant effect on the economy and the financial stability across the globe. The pandemic has resulted in the halt to the construction, manufacturing and production processes.

However, with the lockdown policies there has been a significantly strengthen the demand for chemical products and material under automotive, cleaning and electrical industries across the globe. The market has seen a growth in the overall chemical products and materials requirements even in the pandemic which is escalating the growth of the market.

Growth Factors

Rising demand for construction, increased infrastructural developments with advancement technologies in the construction industry is significantly fueling the market growth. There has been an increase in the demand for replacing materials in the construction sector to replace steel rods for concrete reinforcement. In developing countries, there has been a significant purchase of infrastructural development which has led to the initiation of residential and construction projects. Moreover, with the growing use of engineering plastics as a substitute to conventional replacement material has given a boost to the market and is expected to drive the market in near future.

Rising adoption of metal replacements in the healthcare sector which is primarily used in the manufacturing of medical devices that are light in weight. The medical devices being made from these replacement materials have successfully replaced the conventional materials used as medical devices. The new technologies and increasing demand for the use of medical devices is expected to the growing use of metal replacement materials for the healthcare industries and hence is responsible to drive the market growth. The materials used in the healthcare industry has an advantage of getting dissolved in the body over a period of time.

Report Scope :

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Type Segment Analysis Preview

Engineering Plastics segment held the largest market share 57.32% in 2020 and is expected to show highest growth in the forecast period. The segment is further divided into polyamides, polyacetals, fluoropolymers, thermoplastic polyesters, acrylonitrile butadiene styrene and others. The sub segment acrylonitrile butadiene styrene is expected to have largest market share during the forecast period across the globe. The composite segment is also expected to show high growth in near future due to the rising application of fiber-reinforced polymer composites in newer areas.

Global Metal Replacement Market Share

End Use Industry Segment Analysis Preview

Automotive segment will grow at a CAGR of more than 7.56% from 2021 to 2028. The growth of this segment is due to the rapid developments and advancements in the technologies adopted in the production and manufacturing of vehicles parts. Metal replacement materials are specifically used in the construction and automotive industry for manufacturing of body parts, reflectors, vehicle parts, under-the-hood components, connectors and other materials. The materials being light in weight can be used in heavy transportation vehicles as well as light transportation vehicles. Moreover, adoption of engineering plastics as replacement materials with glass and metals also contribute to the substantial rise in the automotive segment as it provides high performance to the materials used.  

Regional Analysis Preview

The European region held a share of more than 25.23% in 2020. This is attributable to the presence of major metal replacement manufacturers in this region and is expected to drive the market growth in the forecast period. With the elevated and escalating production of glass fiber reinforcing the regional growth. Moreover, the growth is also attributable to the increasing demand for automotive industry in the region.

Global Metal Replacement Market Regional Analysis

The Asia Pacific region is projected to grow at a CAGR of more than 11.87% over the forecast period. This is attributable to the increasing investment in construction and automobile industry. The region is leader in the Global Metal Replacement Market in terms of value and has presence of major manufacturing companies. Asia Pacific region is expected to grow at a highest rate in the forecast period due to the increasing consumption of chemical products and materials. With the increase in infrastructural development the region is expected to expect a boost in the housing construction projects which is giving an aid to the regional growth.

Key Market Players & Competitive Landscape

Some of key players in Metal Replacement market are Celanese Corporation, Toray Industries Inc., Solvay SA, Owens Corning Corporation, BASF SE, SGL-Group and Jushi Group.

The Global Metal Replacement Market is segmented as follows:

By Type

  • Engineering Plastics
  • Composites

By End Use Industry

  • Aerospace & Defense
  • Automotive
  • Healthcare
  • Construction
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1. Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2. Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By End Use Industry
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Metal Replacement Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3. COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. Middle East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4. Metal Replacement Market – By Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
    • 4.2. Engineering Plastics
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Composites
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5. Metal Replacement Market – By End Use Industry Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End Use Industry, 2020 & 2028
    • 5.2. Aerospace & Defense
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Automotive
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Healthcare
      • 5.4.1. Market Size and Forecast, By Region (USD Million)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Construction
      • 5.5.1. Market Size and Forecast, By Region (USD Million)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Others
      • 5.6.1. Market Size and Forecast, By Region (USD Million)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6. Metal Replacement Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End Use Industry, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End Use Industry, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End Use Industry, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End Use Industry, 2016 – 2028
    • 6.6. Middle East and Africa
      • 6.6.1. Middle East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.6.2. Middle East and Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.3. Middle East and Africa Market Revenue, By End Use Industry, 2016 – 2028
  • Chapter No. 7. Metal Replacement Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technulogy Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. Middle East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8. Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Metal Replacement Market: Company Market Share, 2019
      • 8.1.2. Global Metal Replacement Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 8.1.3. Global Metal Replacement Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Metal Replacement Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9 . Company Profiles
    • 9.1. Celanese Corporation
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfulio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Toray Industries Inc.
    • 9.3. Sulvay SA
    • 9.4. Owens Corning Corporation
    • 9.5. BASF SE
    • 9.6. SGL-Group
    • 9.7. Jushi Group
  • Chapter No. 10. Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11. Research Methodulogy
    • 11.1. Research Methodulogy
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By End Use Industry
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Metal Replacement Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028
FIG NO. 7. Global Metal Replacement Market for Engineering Plastics, Revenue (USD Million) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Metal Replacement Market for Engineering Plastics, By Country, 2020 & 2028
FIG NO. 9. Global Metal Replacement Market for Composites, Revenue (USD Million) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Metal Replacement Market for Composites, By Country, 2020 & 2028
FIG NO. 11. Market Revenue Share, By End Use Industry, 2020 & 2028
FIG NO. 12. Global Metal Replacement Market for Aerospace & Defense, Revenue (USD Million) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Metal Replacement Market for Aerospace & Defense, By Country, 2020 & 2028
FIG NO. 14. Global Metal Replacement Market for Automotive, Revenue (USD Million) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Metal Replacement Market for Automotive, By Country, 2020 & 2028
FIG NO. 16. Global Metal Replacement Market for Healthcare, Revenue (USD Million) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Metal Replacement Market for Healthcare, By Country, 2020 & 2028
FIG NO. 18. Global Metal Replacement Market for Construction, Revenue (USD Million) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Metal Replacement Market for Construction, By Country, 2020 & 2028
FIG NO. 20. Global Metal Replacement Market for Others, Revenue (USD Million) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Metal Replacement Market for Others, By Country, 2020 & 2028
FIG NO. 22. Global Metal Replacement Market Revenue Share, By Region, 2020 & 2028
FIG NO. 23. North America Metal Replacement Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 24. Porter’s Five Forces Analysis for Global Metal Replacement Market
FIG NO. 25. PEST Analysis for Global Metal Replacement Market
FIG NO. 26. Pricing Analysis for Global Metal Replacement Market
FIG NO. 27. Value Chain Analysis for Global Metal Replacement Market
FIG NO. 28. Company Share Analysis, 2019
FIG NO. 29. Radar Determinant Chart, 2019
FIG NO. 30. Company Strategic Developments – Heat Map Analysis
FIG NO. 31. Celanese Corporation Business Segment Revenue Share, 2020 (%)
FIG NO. 32. Celanese Corporation Geographical Segment Revenue Share, 2020 (%)
FIG NO. 33. Market Channels
FIG NO. 34. Marketing Channel Development Trend
FIG NO. 35. Growth in World Gross Product, 2008-2018
FIG NO. 36. Research Methodology – Detailed View
FIG NO. 37. Research Methodology


List of Tables

TABLE NO. 1. Global Metal Replacement Market: Snapshot
TABLE NO. 2. Quarterly Metal Replacement Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Metal Replacement Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Metal Replacement Market for Engineering Plastics, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Metal Replacement Market for Composites, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Metal Replacement Market for Aerospace & Defense, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Metal Replacement Market for Automotive, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Metal Replacement Market for Healthcare, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11. Global Metal Replacement Market for Construction, by Region, 2016 – 2028 (USD Million)
TABLE NO. 12. Global Metal Replacement Market for Others, by Region, 2016 – 2028 (USD Million)
TABLE NO. 13. Global Metal Replacement Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 14. North America Metal Replacement Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 15. North America Metal Replacement Market Revenue, By Type, 2016 – 2028 (USD Million)
TABLE NO. 16. North America Metal Replacement Market Revenue, By End Use Industry, 2016 – 2028 (USD Million)
TABLE NO. 17. Drivers for the Metal Replacement Market: Impact Analysis
TABLE NO. 18. Restraints for the Metal Replacement Market: Impact Analysis
TABLE NO. 19. Major Buyers of Metal Replacement
TABLE NO. 20. Distributors/Traders List of Metal Replacement
TABLE NO. 21. Global Metal Replacement Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 22. Global Metal Replacement Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
 

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FrequentlyAsked Questions

The Global Metal Replacement Market was valued at USD 164.65 Billion in 2020.

The Global Metal Replacement Market accounted for more than USD 164.65 Billion in 2020 and is expected to reach more than USD 318.57 Billion by 2028, growing at a CAGR of more than 8.62% from 2021 to 2028.

Some of the factors driving the market growth is the rising demand for construction, increased infrastructural developments with advancement technologies in the construction industry is significantly fueling the market growth and rising adoption of metal replacements in the healthcare sector which is primarily used in the manufacturing of medical devices that are light in weight.

The European region held a share of more than 25.23% in 2020. This is attributable to the presence of major metal replacement manufacturers in this region and is expected to drive the market growth in the forecast period. With the elevated and escalating production of glass fiber reinforcing the regional growth.

Some of the major companies operating in the Wireless Charging Market are Celanese Corporation, Toray Industries Inc., Solvay SA, Owens Corning Corporation, BASF SE, SGL-Group and Jushi Group.
 

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