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Metal Replacement Market : What Will Be The Future Growth Opportunities?

Author : Rahul Varpe | Published Date : 2019-03-28 

Asia Pacific, driven by India, Japan and China metal replacement market may grow significantly over the forecast timeframe. Increasing investments in automobile and construction industries may favor product demand. Strong application scope in petrochemicals, electrical & electronics, packaging and chemicals may fuel engineering plastics demand thereby driving metal replacement market size in the region.

Europe, led by UK, Italy and Germany metal replacement market size, may witness significant gains. Engineering plastics accounted for over 35% share in 2015. Many prominent manufacturers such as BASF are engaged into product developments and capacities expansion which results in increasing production thereby expanding product market size.

North America, led by the U.S metal replacement market size, may witness steady growth. Composites, automobile application may exceed USD 4 billion with gains at over 7% by 2024. Increasing production and lightweight materials demand to enhance fuel efficiency & environmental concerns regarding carbon emission may contribute towards rise in product demand. Favorable regulatory guidelines led by U.S. government regarding average fuel efficiency which requires lightweight materials may support metal replacement demand.

To access the table of contents or view the Metal Replacement Market report in detail, please click the link below: www.gminsights.com/request-toc/upcoming/1331

Metal Replacement Market size may witness steady gains owing to increasing application scope in construction and automotive sectors. It is used as a substitute for other materials including plastics, composites, aluminum, and thermoplastics in the manufacturing process which provides light weight, low operating cost and efficient finished products manufacturing.

Global composites market size registered over USD 23 billion in 2015 and may surpass USD 110 billion in business by 2024. Strong application scope in defense & aerospace, transportation, and wind energy owing to strength, stiffness, thermal & electrical conductivity, and corrosion resistance properties may drive industry growth. They are extensively used in transportation and aerospace industries due to low weight, thereby favoring metal replacement market growth.

Aerospace composites has wide structural applications owing to superior performance, high strength, and weather resistance. Global aerospace composites market may witness gains at over 9% due to strict environmental norms regarding fuel efficiency and use of light weight materials in aircrafts should which should fuel industry growth. Growth in commercial and defense aerospace industry mainly in Asia Pacific will metal replacement demand.

Global metal replacement market share is moderately fragmented. Prominent player in this industry includes SGL, Celanese, Owens Corning, Solvay SA, BASF SE, Jushi Group and Toray Industries.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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