The metal replacement market, including composites, is projected to reach US$159.82 billion by 2021, at a CAGR of 9.2% from 2016 to 2021, according to a new report published by Research and Markets. The increasing consumption of metal-replacing materials in the automotive and construction industries is one of the most significant factors driving the growth of this market, while the high cost of materials is expected to restrict the market's growth, the report suggests. Currently, composites are the most prominent metal replacing materials, due to their performance. Composites offer several advantages, such as superior weight to strength ratio, superior thermal resistance, good corrosion resistance, and high impact resistance. The Asia-Pacific metal replacement market is anticipated to grow at the highest CAGR between 2016 and 2021. Growth in this market is driven by the increasing demand for metal replacing materials from China and India.
This story is reprinted from material from Research and Markets, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
