Global Metal Replacement Market to reach USD 243 billion by 2026.

Global Metal Replacement Market is valued approximately USD 122 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 9% over the forecast period 2019-2026. Metal replacement are substitutes for other materials with composites, plastics, aluminum, and thermoplastics in the production process which offers light weight, low operating cost and efficient finished products manufacturing. This substitution of metals with plastics or composites is done to attain a fairly lighter, cheaper and efficient output. Foremost end-use industries in the metal replacement market opt for this process are automotive, healthcare, construction and packaging. The escalating consumption of metal-replacing materials in the automotive and construction industries is one of the most substantial factors propelling the growth of this market.
Increasing automobile manufacturing coupled with the growing repair and maintenance activities across the globe are key driving forces of market growth. as per the International Organization of motor Vehicles Manufacturers, in 2018 about 98 million motor vehicles were produced of which about 70% of motor vehicles produced (69 million) were passenger cars and about 26 million commercial vehicles as compared to 90 million in 2015. Furthermore, increasing demand for emerging market is expected to create significant growth opportunity in the market over the forecast period. However, high cost of material impedes the growth of the market over the forecast period of 2019-2026.

The regional analysis of global Metal Replacement market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the significant region across the world in terms of market share owing to demand for lightweight materials to enhance fuel efficiency coupled with environmental concern. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing investment in automotive and construction industries would create lucrative growth prospects for the Metal Replacement market across Asia-Pacific region.

Major market player included in this report are:
BASF SE
Covestro AG
Celanese Corporation
E. I. Dupont De Nemours and Company
Solvay SA
LG Chem Ltd.
Toray Industries Inc.
SGL Group
Jushi Group
Owens Corning
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Engineering Plastics
Composites
By End-Use Industry:
Automotive
Aerospace & Defense
Construction
Healthcare
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Metal Replacement Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors