Metal Replacement Market Analysis & Growth Trends 2016 – 2024.

Metal Replacement Market has main growth due to Strong application scope in defense & aerospace, transportation, and wind energy owing to strength, stiffness, thermal & electrical conductivity, and corrosion resistance properties.

Metal Replacement Market size may witness steady gains due to increasing application scope in construction and automotive sectors.

Strong application scope in defense & aerospace, transportation, and wind energy owing to strength, stiffness, thermal & electrical conductivity, and corrosion resistance properties may drive industry growth.

Global composites market size registered over USD 23 billion in 2015 and may surpass USD 110 billion in business by 2024.

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Growth in commercial and defense aerospace industry mainly in Asia Pacific will metal replacement demand.

Glass fiber finds application in wind energy, aerospace and construction industry due to inherent strength, weather resistance, light weight and texture which is likely to favor product demand Many manufacturers such as Owens Corning, U.S. collaborated with two Chinese manufacturers to increase supply of tailor made glass fiber which is another contributing factor towards metal replacement market growth.

Global aerospace composites market may witness gains at over 9% due to strict environmental norms regarding fuel efficiency and use of lightweight materials in aircrafts should which should fuel industry growth.

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Asia Pacific, driven by India, Japan and China metal replacement market may grow significantly over the forecast timeframe. Increasing investments in automobile and construction industries may favor product demand.

North America, led by the U.S metal replacement market size, may witness steady growth. Composites, automobile application may exceed USD 4 billion with gains at over 7% by 2024. Increasing production and lightweight materials demand to enhance fuel efficiency & environmental concerns regarding carbon emission may contribute towards rise in product demand.

Europe, led by UK, Italy and Germany metal replacement market size, may witness significant gains. Engineering plastics accounted for over 35% share in 2015.

Strong application scope in petrochemicals, electrical & electronics, packaging and chemicals may fuel engineering plastics demand thereby driving metal replacement market size in the region.

Global metal replacement market share is moderately fragmented. Prominent player in this industry includes SGL, Celanese, Owens Corning, Solvay SA, BASF SE, Jushi Group and Toray Industries.

High material cost may challenge industry profitability and affect metal replacement market price trend. However, investments in automotive and defense sector may drive industry growth.

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About Global Market Insights: Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services.