Metal Replacement Market Are Expected To Show the Highest Growth in the Automotive Industry Due To Increased Use of Plastics and Composites
Metal replacement means replacing heavy metals with lightweight metals, typically made of plastic or composite materials, to reduce overall weight, cost and production time. Components exposed to vibration, stress, aggressive media, and heat can be fabricated using composites and engineering plastics instead of metal to reduce weight. Metals are replaced by a variety of major end-use industries such as automotive, construction, medical and packaging.The Metal Replacement Market is expected to reach $ 166,762 million by 2022 with a CAGR of 9.0% from 2016 to 2022. The engineering plastics segment accounted for almost three-quarters of the overall market in 2015.
The world metal replacement market is now seeing many opportunities as the demand for lightweight materials used in automotive and aircraft manufacturing parts increases. The diverse application of metal replacement in the automotive, construction, aerospace and defense, medical and consumer goods industries is another factor expected to drive market growth during the forecast period. In addition, market growth is accelerating with the need for more cost-effective and efficient vehicles and the increased production technology of lightweight plastics.
Download PDF Report Sample @ https://www.alliedmarketresearch.com/request-sample/2148
The major companies profiled in the report include
• Solvay SA
• SGL-Group
• Owens Corning Corporation
• Celanese Corporation
• BASF SE
• Toray Industries Inc.
• Jushi Group.
• Honeywell International Inc.
• Asahi Kasei Corporation
• Formosa Plastics Corp.
Metal substitutes are expected to show the highest growth in the automotive industry due to increased use of plastics and composites. In addition, as a lightweight alternative, engineering plastics and composites have the advantages of high operational reliability, long machine life, high energy savings, high strength and reduced maintenance costs. It is expected that the increase in the use of ABS to reduce the design complexity and overall weight of the aerospace and defense industry and the demand for the improvement of the quality of the packaging products will promote the growth of the metal replacement market.
The construction sector accounted for about a quarter of the volume in 2015. With years of change in the construction industry, efficient and lightweight construction components are now in high demand worldwide. In addition, the need for lightweight, cost-effective structural solutions is increasing, and the adoption of the latest metal substitution technologies related to composite use is leading the global metal replacement market.
Make an Enquiry before Buy @ https://www.alliedmarketresearch.com/purchase-enquiry/2148
Key Findings of the Metal Replacement Market:
• In terms of value, the automotive industry segment is projected to be the fastest growing segment during the analysis period.
• Asia-Pacific is projected to maintain its lead position throughout 2022 and grow at a CAGR of 6.0%, in terms of volume.
• In terms of volume, the automotive segment occupied for approximately one-fourths of the total market in 2015.
• China occupied around one-third of the total Asia-Pacific metal replacement market in 2015.
• In terms of value, India is expected to grow at the fastest rate in the Asia-Pacific region and is expected to grow at a CAGR of 10.1% from 2016 to 2022
In 2015, Asia-Pacific and LAMEA collectively accounted for around half of the total metal replacement market and are expected to continue this trend due to increase in infrastructural development, specifically in China, India, Brazil, and other developing economies. Moreover, rise in per capita disposable incomes and changes in preference of automotive manufacturers to set up their manufacturing facilities in the aforementioned countries boost the growth of the metal replacement market in the Asia-Pacific region.
Access Full Summery @ https://www.alliedmarketresearch.com/metal-replacement-market
About Us:
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Metal Replacement Market Are Expected To Show the Highest Growth in the Automotive Industry Due To Increased Use of Plastics and Composites here
News-ID: 1653790 • Views: …
More Releases from Allied Market Research
Speech Analytics Market Expected to Reach to USD 4.9 Billion by 2031, Key Factor …
Allied Market Research published a new report, titled, " The Speech Analytics Market Expected to Reach to USD 4.9 Billion by 2031, Key Factors behind Market's Exponential Growth." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding…
Artificial Intelligence in Construction Market Expected to Reach USD 8.6 Billion …
According to the report published by Allied Market Research, The Artificial Intelligence in Construction Market Expected to Reach USD 8.6 Billion by 2031, Growing with at a CAGR of 34.1%. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining…
Seaweed Extracts Market to See Competition Rise | $3.5 Billion by 2032
The seaweed extracts market was valued at $2 billion in 2022, and is estimated to reach $3.5 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.
Request Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/A12569
Seaweed extracts refer to concentrated substances derived from different types of seaweed or marine algae. These extracts are obtained through various extraction methods, such as drying, grinding, or chemical processes, resulting in highly potent forms…
Unified Communications as a Service Market Expected to Reach USD 118.8 Billion b …
Allied Market Research published a new report, titled, " The Unified Communications as a Service Market Expected to Reach USD 118.8 Billion by 2031, Key Factors behind Market's Exponential Growth." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain…
More Releases for Metal
Metal Polishing Services Market Research Report 2020 Analysis: Enhanced Growth a …
Metal Polishing Services Market
Global Metal Polishing Services Market is providing the summarized study of several factors encouraging the growth of the market such as manufacturers, market size, type, regions and numerous applications. By using the report consumer can recognize the several dynamics that impact and govern the market. For any product, there are several companies playing their role in the market, some new, some established and some are planning to…
Metal Detector Market Global Outlook Report 2019-2025 | Industry Key Players - F …
Premium Market Insights has Published New Market Research Report on – “Metal Detector Market – Global Industry Share, Size, Overview, Trends, Growth and Forecast by 2019 - 2025.”
Metal Detector Market research report is an expert compiled study which provides a holistic view of the market covering current trends and future scope, trend, Comprehensive Analysis, demand, growth opportunities and outlook with segmentation by product/service, type, application, geography / region and top…
Global Metal Polishing Services Market 2019 Top Manufacturers are Metal Polishin …
Global Metal Polishing Services Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023 released by marketandresearch.biz is a momentous study which delivers a primary overview of the Metal Polishing Services industry covering historic switch, current status, and future projection of the market. This report has the ability to increase significant market worldwide by offering noteworthy knowledge of the market with global market structure, industry environment, growth prospects, and…
Worldwide Recycled Metal Market By Metal 2024 | Nucor, Steel Dynamics, Schnitzer …
The 2018-2024 report on global Recycled Metal market explores the essential factors of Recycled Metal industry covering current scenario, market demand information, coverage of active companies and segmentation forecasts.
North America recycled metal market was estimated close to USD 8.5 billion in 2017. This is mainly attributed to strong presence of transportation, electrical & electronics and defense industry which majorly constitute to the overall product demand. Moreover, strict laws formulated…
Metal Recycling Market 2018 | Sims Metal Management, Metallon Recycling, Europea …
This report studies the global Metal Recycling market status and forecast, categorizes the global Metal Recycling market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, India, Southeast Asia and other regions (Central & South America, and Middle East & Africa).
. .
– Get Sample Report_https://www.researchmoz.us/enquiry.php?type=S&repid=1839245
' '
The global Metal Recycling market is valued at xx million…
Metal Recycling : Global Market Report (2018-2025) – Metallon Recycling, Europ …
Qyresearchreports include new market research report “Global Metal Recycling Market Research Report 2018” to its huge collection of research reports.
The major manufacturers covered in this report
Sims Metal Management
Metallon Recycling
European Recycled Metal
TOTALL Metal Recycling
K&K Metal Recycling
A&S Metal Recycling
TKC Metal Recycling
Smith Iron & Metal
Metso
Benton Metal Recycling
DBW Metals Recycling
Kirby Metal Recycling
OmniSource Corporation
Schnitzer Steel Industries
Nucor Corporation
Get PDF for more Professional and Technical insights @ https://www.qyresearchreports.com/sample/sample.php?rep_id=1802914&type=S
Geographically, this report studies the top producers and consumers, focuses…