What is Metal Replacement Market?
Metal replacement is a replacement of metal alloys with high performance technopolymers. Plastic material is a valid alternative to traditional materials and it has certain benefits. Thermoplastic technology provides the products with lightness, strength, cost and durability of products that are traditionally made of metal alloys. It involves various sectors including mechanical, electrical and electronic sectors, food industry, medical sector and others. It offers endless possibilities for coloring and color combinations.
Highlights from Metal Replacement Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Solvay S.A. (Belgium), SGL Carbon SE (Germany), Owens Corning Corporation (United States), Celanese Corporation (United States), BASF SE (Germany), Toray Industries, Inc. (Japan), Jushi Group Co., Ltd. (China), Du Pont (United States), BMW (Germany) and Boeing (United States) |
The metal replacement market is highly competitive, owing to the presence of key metal brand companies.The major players are adopting new product launches and expansion strategies for global growth in the metal replacement market. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Metal Replacement market throughout the forecasted period.
Solvay S.A. (Belgium), SGL Carbon SE (Germany), Owens Corning Corporation (United States), Celanese Corporation (United States), BASF SE (Germany), Toray Industries, Inc. (Japan), Jushi Group Co., Ltd. (China), Du Pont (United States), BMW (Germany) and Boeing (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Saint-Gobain (France). Metal Replacement Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Automotive, Construction, Aerospace & Defense, Packaging, Healthcare, Consumer Goods and Others |
Type | Engineering Plastics (Polyamide, ABS, Thermoplastic Polymers, Polycarbonates, Polyacetals, Fluoropolymers and Others) and Composites (GFRP and CFRP) |
Distribution Channel | Online,Offline |
On the basis of geography, the market of Metal Replacement has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Companies Are Focusing On Research and Development Activities
Market Growth Drivers:
Reduction of the Product Total Weight and Resistance to Corrosion and Chemical Agents and High Demand from Automobile and Aerospace Industry
Challenges:
Slowdown of the World Economy May Affect the Market and Heavy Taxation Policies by Some Governments
Restraints:
Toxic Nature of Engineering Plastics and Fluctuations in the Raw Material Prices
Opportunities:
Technological Advancements in the Manufacturing Sector, Growing Automobile Industry Worldwide and Rise in the Demand for Metal Replacing Materials in the Construction Industry
Key Target Audience
Metal Replacement Material Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
In 2017, Solvay, a leading global supplier of high-performance materials, has expanded its portfolio of specialty polymers with the introduction of Omnix LF-4050 and Omnix LF-4060, two high-performance polyamides (HPPA) with long fiberglass content of 50 and 60 percent respectively. This will help to overcome demanding metal replacement challenges for parts submitted to severe operating environments