Market overview:
The global metal replacement market was valued at US$ 990 million in 2020 and is expected to record 9.0% CAGR during the forecast period, to reach US$ 168.7 million in 2025.

The metal replacement is usually made of plastic or a compound, replacing heavy metals with light substitutes to reduce total weight, cost and production time. Components exposed to vibration, stress, aggressive media and heat can be manufactured using engineering compounds and plastics instead of metals to reduce weight. Metals are replaced in many important end-user industries, such as automotive, construction, medicine and packaging.

Recent developments:
In September 2016, the SGL Group launched a new precursor production line at the FISIPE site in Lavradio, near Lisbon, Portugal. This new production line will help the company meet the growing demands of carbon fiber worldwide.

In September 2016, Solvay expanded the production capacity of the German composite facility. Capacity expansion will aid to meet the growing demands of the aerospace industry.

Market Drivers and Restraints:
The global metal replacement market is expected to increase significantly in the future. The increase in investment of major car manufacturers is the main reason for the growth of the global market. In addition, the growing demand for metal replacement materials in the construction sector is driving the growth of the worldwide metal replacement market. Also, rapid industrialization is driving global market growth. Furthermore, the lack of job opportunities is the main reason for the growth of the global metal replacement market.

On the other hand, the high cost of producing replacement processes is one of the reasons that restrict the growth of the global market. Similarly, high raw material costs are one of the critical reasons to slow global market growth.

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Report Segmented as:
Global metal replacement market based on the end-user industry is classified into aerospace and defence, automotive, health, construction, etc. By type, the global market is divided into plastic and engineering compounds. According to the target audience, the global market is segmented as merchants, manufacturers of metal substitutes, suppliers of metal substitutes, distributors, associations, government and research institutes, industrial organizations, R&D agencies, research and consulting companies, investment banks and private businesses. Capital companies, environmental support agencies and others.

Geographical Segmentation:
At the regional level, the global metal replacement market is divided into the Middle East and Africa, Asia Pacific, Europe and North America. As investments in major car manufacturers increase, they lead the world markets in Canada and the United States. The growing demand for metal replacement materials in the construction sector supports the world market in India and China. Rapid industrialization will strengthen Europe's market. In other regions of the world, market growth will slow down in the near future.

Key market players:
The main players in the global metal replacement market are Solvay SA, SGL-Group, Celanese Corporation, Toray Industries, Inc., BASF SE, Owens Corning Corporation and Jushi Group.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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