Market Overview:
The global metal replacement market size reached US$ 182.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 356.4 Billion by 2032, exhibiting a growth rate (CAGR) of 7.5% during 2024-2032.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 182.2 Billion |
Market Forecast in 2032
|
US$ 356.4 Billion |
Market Growth Rate 2024-2032 |
7.5% |
Metal replacement refers to the substitution of metals with high-performance polymers, ceramics and composites. Some of the commonly used metal replacement materials include polycarbonates, polyamides, acrylonitrile butadiene styrene (ABS), thermoplastic polyester, fluoropolymers and polyacetals. In comparison to the traditionally used metals, they are lightweight and offer enhanced material performance, cost-effectiveness, thermal, acoustic, electrical and vibration insulation and corrosion and chemical resistance. They are also convenient to manufacture and can be molded into complex shapes. As a result, they find extensive application across various industries, including aerospace, defense, automotive, healthcare and construction.
Metal Replacement Market Trends:
The increasing adoption of engineering plastics across industries is one of the key factors driving the growth of the market. Moreover, the widespread adoption of metal replacement in the aerospace and automotive industries is providing a thrust to the market growth. Metal replacing materials exhibit superior mechanical strength and heat resistance and are widely used for the manufacturing of connectors, under-the-hood components, reflectors and lighting sockets. They are also used for the production of lightweight and compact aerospace components that exhibit enhanced structural strength and durability. In line with this, the widespread adoption of polyphenylsulfone for medical and high-temperature applications is also contributing to the growth of the market. Additionally, the increasing utilization of metal replacement in residential and commercial construction projects is acting as another growth-inducing factor. These materials are utilized to substitute steel rods, concrete reinforcements and produce effective sewage systems. Other factors, including the increasing requirement for lightweight components across industries, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global metal replacement market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type and end use industry.
Breakup by Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Engineering Plastics
- Polyamide
- Acrylonitrile Butadiene Styrene (ABS)
- Thermoplastic Polyesters
- Polycarbonates
- Others
- Composites
Breakup by End Use Industry:
- Automotive
- Aerospace and Defense
- Construction
- Packaging
- Consumer Goods
- Healthcare
- Transportation
- Others
Breakup by Region:
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- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being A.K. Industries Inc., Asahi Kasei Corporation, Aztec Plastic Company, BASF SE, Celanese Corporation, China Jushi Co.Ltd., DOMO Chemicals GmbH, DuPont de Nemours Inc., SGL Carbon SE, Solvay S.A., Toray Industries Inc. and Victrex plc.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Type, End Use Industry, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
A.K. Industries Inc., Asahi Kasei Corporation, Aztec Plastic Company, BASF SE, Celanese Corporation, China Jushi Co.Ltd., DOMO Chemicals GmbH, DuPont de Nemours Inc., SGL Carbon SE, Solvay S.A., Toray Industries Inc., Victrex plc |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |