Press release
Metal Replacement Market Outlook to 2023 : Top Companies, Trends and Growth Factors
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The global market for metal replacement is segmented into type, application and geography. On the basis of type, the metal replacement market can be categorized as engineering plastics and composites.
The composite segment can be further categorized as Carbon Fiber Reinforced Plastics (CFRP) and Glass Fiber Reinforced Plastics (GFRP). The composite segment is estimated to grow during the forecast period due to the growth in the carbon fiber reinforced plastics (CFRP) market.
There has been a significant rise in the demand of metal replacing materials in the construction industry to replace steel bars for concrete reinforcements and to manufacture sewage systems on account of increasing projects in the housing construction market.
The slow economic growth in North America and Europe due to economic crisis in 2008 posing an obstruction to the growth of metal replacement market. Therefore, demand projections for metal replacement materials has become a major challenge in these regions.
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Major players operating in the global metal replacement market include BASF SE, Celanese Corporation, Covestro AG, E. I. Dupont De Nemours and Company, Jushi Group, LG Chem, Ltd., Owens Corning, SGL Group, Saint-Gobain SA, Solvay SA, and Toray Industries, Inc.
Market Segmentation
By type
Engineering plastics
Polycarbonates
Acrylonitrile Butadiene Styrene (ABS)
Polyamides
Thermoplastic polyesters
Polyacetals
Fluoropolymers
Composites
Carbon fiber reinforced plastics (CFRP)
Glass fiber reinforced plastics (GFRP)
By end-use
Automotive
Aerospace and defense
Construction
Healthcare
Others
By region
North America
Europe
Latin America
Asia-Pacific
Middle East and Africa
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