The global metal replacement market is expected to grow at CAGR of 10% from 2018-2023. The major driving force of this market is increased demand of lightweight and cheaper substitutes for automotive and manufacturing components. The demand of metal replacement is increasing in other sectors also such as construction, healthcare, packaging and paint.
What is Metal replacement?
The replacement of metal with engineering plastic or composites to create lighter, cheaper and efficient product is called as metal replacement. Various modified plastics such as glass fiber reinforced plastic, carbon fiber modified plastic, polyamide, polycarbonate etc. are used in different industries to provide better feature to the product.
What are the major applications for Metal replacement?
Engineering plastics and composites have find their application in various industries such as automotive, healthcare, aerospace and defense, etc. Due to superior toughness, heat resistance and outstanding processability, polycarbonate finds its application in automobile, healthcare and electronic industry. For example polycarbonate is used for manufacturing security windows, safety glass and guards. In automobiles industry polyamide is used for manufacturing of radiator fan, radiator grill, instrument housings, speedometer gears, steering column bush, etc. Ethylene propylene copolymer is used for manufacturing car bumpers. Gear boxes are made up of polyimide, is heat resistance, lightweight and flexible. Polypropylene is also used for various purposes such as cooling towers, tanks, metal detectors chutes and exhaust ducts.
Market Research and Market Trends of Metal replacement:
- Bio-plastics are biggest trending product in market. Some countries are making initiatives to commercialize it. For example Qatar is expecting to launch its bio-plastic bags by September 2018. This bio-plastic is made up of Cassava starch and other renewable material. It is 100% biodegradable will not harm environment. Animals can also eat this bag with being affected.
- A Germany based company BASF SE launched bio-based polyurethane foam. This product allows weight reduction and its density is 120g/L. It is developed by using castor oil and gaining popularity among manufacturers of instrument panel, doors, furniture and automobile interiors.
Who are the Major Players in Metal replacement market?
The companies referred to in the market research report includes BASF SE, Celanese Corporation, Jushi Group and 10 other companies.
What is our report scope?
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