Global High Performance Alloys Market Size study, by Alloy Type (Wrought, Cast), by Product Type (Non-Ferrous Alloys, Refractory Alloys), by Alloying Element (Aluminum, Titanium, Magnesium), by Application (Aerospace, Industrial, Automotive, Oil & gas, Electronics & electrical, Others), and Regional Forecasts 2022-2028Global High Performance Alloys Market is valued approximately USD 10.12 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.34% over the forecast period 2022-2028.
High-Performance alloy is a mixture of high-end metals exhibiting numerous characteristics in various complex processes and operations. These properties include resistance to thermal creep deformation, greater resistance to corrosion or oxidation, enhanced mechanical strength, and surface stability. The alloy elements include 2% manganese and small quantities of various metals such as copper, nitrogen, chromium, nickel, calcium, and other rare earth elements. The burgeoning of these alloys is depends upon developments in chemical process. Various chemical treatments like solid solution braces the negotiate high-temperature strength to an alloy. The increasing technological advancements in the high-performance alloys industry, growing demand from the end-use industry such as mechanical, machinery, turbine engines, tools, and more, coupled with the extensive use in aerospace, defense, and marine industries may surge the market demand across the globe. For instance, the Mexico City New International Airport (NAICM) is being built in the city of Mexico to replace the existing Benito Juarez International Airport. The Plan was announced in September 2014 with an allocation of USD 9.2 billion for the construction by the then President of Mexico. The New airport will have an initial capacity of 50 million passengers per year which will be gradually increased to 120 million annually through expansion by 2062. Also, the increasing use in the electrical and electronics industry fuels the market growth. However, the growing requirement of high initial capital investment impedes the growth of the market over the forecast period of 2022-2028. Also, demand for high-performance alloys in emerging economies is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the Global High Performance Alloys Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to the growing number of manufacturing facilities and increasing demand for aerospace and defense products across the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growth of the rising disposable income and increasing demand by the end-use industries would create lucrative growth prospects for the High-Performance Alloys market across the Asia-Pacific region.
Major market players included in this report are:
Aperam SA
Alcoa Inc.
Allegheny Technologies Incorporated
Carpenter Technology
Haynes International Inc.
Hitachi Metals Ltd.
Outokumpu
Precision Castparts Corporation
Timken Company
VSMPO-AVISMA Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Alloy Type:
Wrought
Cast
By Product Type:
Non-Ferrous Alloys
Refractory Alloys
By Alloying Element:
Aluminum
Titanium
Magnesium
By Application:
Aerospace
Industrial
Automotive
Oil & gas
Electronics & electrical
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global High Performance Alloys Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Companies Mentioned
Aperam SA
Alcoa Inc.
Allegheny Technologies Incorporated
Carpenter Technology
Haynes International Inc.
Hitachi Metals Ltd.
Outokumpu
Precision Castparts Corporation
Timken Company
VSMPO-AVISMA Corporation