Global Metal Replacement Market - 2020-2027
|出版日期||內容資訊||英文 180 Pages
|金屬替代材料的全球市場:2020年∼2027年 Global Metal Replacement Market - 2020-2027|
|出版日期: 2021年05月10日||內容資訊: 英文 180 Pages||
A single replacement reaction, sometimes called a single displacement reaction, is a reaction in which one element is substituted for another element in a compound. The starting materials are always pure elements, such as a pure zinc metal or hydrogen gas, plus an aqueous compound. Metal replacing materials exhibit superior properties, such as mechanical strength and heat & chemical resistance, and are generally used in end-use industries requiring a higher level of performance. These materials are also lighter than the commonly used metals. As such, they have replaced traditional engineering materials, such as wood and metal, in many end-use industries.
The global metal replacement market size was worth US$ XX billion in 2020 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
The growth in chemicals consumption and increasing material product demand is expected to propel the market growth. Furthermore, the rising consumer preference for engineering plastics replacing traditional materials in end-use sectors, will further enhance the metal replacement market demand globally. The increasing metal replacement in the aerospace & defense industry, is expected to boost the metal replacement market growth during the forecast period.
Increasing demand for Construction Boosts the Metal Replacement Market Segment
Considering the current market, the growth of the global metal replacement market is primarily fueled by construction sector. Morever, in recent times, infrastructural development has gained significant purchase, particularly in developing countries. This is directed to the initiation of several residential and profitable construction projects. Futhermore, there is an increase in the demand for metal replacing materials in the construction sector to replace steel rods for concrete reinforcement as well as to produce sewage systems. Moreover, the growing use of engineering plastics as an alternative to traditional materials in numerous end-use industries is expected to boost to the market growth during the forecast period.
Rising adoption of metal replacement materials in the healthcare sector
In the healthcare sector, metal replacing materials are majorly used in the manufacturing of lightweight medical devices. Currently, the scientists have established a composite material that can replace screws and plates used to joint bones in an orthopedic surgery. The screws and plates made from these materials are used exactly like traditional materials. The major advantage of these materials is that they get dissolved inside the body over a period of time post remedial. These new inventions and the consequently increasing demand for use in medical devices is expected to lead to the growth of the metal replacing materials market in healthcare industry.
COVID-19 Impact Analysis
COVID-19 pandemic affected the global economy in many terms, such as directly affecting production and demand, supply chain disruption, and financial impact. COVID-19 has directly impacted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. Also, the lockdown policies have strengthened the demand for material and chemical products under automotive, electrical and cleaning across the globe. Therefore, the manufacturers have started investing to increase the production capabilities to meet the global market's updated demand. Despite the pandemic, there is growth in the overall material and chemical products, which is expected to drive the metal replacements market size in the global market during the forecast period.
Based on the type, the metal replacement market has been classified into engineering plastics and composites.
Engineering Plastics accounted for the highest market share in the global market
In 2019, the engineering plastics segment held the largest share owing to the availability of autolyzed metal replacementss in various metal and chemical end-use industries, such as acrylonitrile butadiene styrene (ABS), polyamides, thermoplastic polyesters, polyacetals, fluoropolymers, and others; whereas the composites segment is subdivided into CFRP (carbon fiber reinforced plastics).
Also, the engineering plastics segment is further subdivided into polycarbonates, acrylonitrile butadiene styrene (ABS), polyamides, thermoplastic polyesters, polyacetals, fluoropolymers, and others. However, the engineering plastics segment, acrylonitrile butadiene styrene is estimated to account for the largest market share during the forecast period globally.
Moreover, the acrylonitrile butadiene styrene is corrosion and thermal resistant, and cost-effective.
Based on the end-use industry, the metal replacement market has been classified into automotive, aerospace and defence, construction, healthcare, and others.
Automotive is the largest global metal replacement market in 2019
In 2019, the automotive was the largest end-use industry segment of the global metal replacing materials market, thus automotive industry is growing significantly. It is also expected that the metal end-use industry is expected to grow with a significant CAGR during the forecast period owing to its incorporation in the automotive and chemical industries.
Metal replacement materials are broadly used in the automotive industry in the manufacturing of connectors, under-the-hood components, body parts, and reflectors & lighting sockets, among others. These materials are used in light automobiles as well as heavy transportation vehicles. Engineering plastics are increasingly being used in the automotive industry, as they are lightweight and high performance materials. However, the automotive manufacturers are adopting engineering plastics as an alternative to metals and glass, since these plastics provide an ideal combination of price and performance. The demand for metal replacing materials is expected to increase substantially in the coming years, as various companies operational in the automotive industry are focusing on vehicle weight reduction and improved fuel efficiency, due to the increasing governmental norms and regulations.
Based on geography, the study analyzes the metal replacement market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Asia Pacific market to rise at the fastest growth
Asia Pacific leads the global metal replacement market in terms of value and volume due to the presence of leading manufacturing companies and easy accessibility of premium quality metal replacements ingredients based on metal material products. This region has observed significant infrastructural development in recent years, which has led to the initiation of several housing construction projects. The region's construction industry is expected to grow at a healthy rate during the forecast period.
The Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The growth of the region is primarily driven due to increasing materials and chemical product consumption. The global companies are investing in the region to increase the export from the low-cost area, which is further expected to increase the metal replacements consumption in the domestic region during the forecast period.
The metal replacement market is highly competitive, owing to the presence of key metal brand companies. The key metal replacements players which are contributing to the growth of the global market include Solvay SA, BASF SE, SGL-Group, Owens Corning Corporation, Celanese Corporation, among others. The major players are adopting new product launch and expansion strategies for global growth in the metal replacement market.
Overview: BASF SE is a multinational chemical company and the largest chemical producer in the world. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe. The company also offers products such as agricultural, automotive and transportation, chemicals, coating solutions, home care and cleaning, and many others. Through science and innovation, it provides the services to the customers with products to meet the current and future needs of business and society. It has operations in Germany, Australia, and Europe. BASF SE is headquartered in Germany.
Product Portfolio: The Company's portfolio comprises chemical products, agricultural products, automotive and transportation products, coating solutions and other services.
The global metal replacement market report would provide access to an approx. 46 market data table, 44 figures and 180 pages.
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