According to Stratistics MRC, the high performance alloys market is estimated at $7.51 billion in 2015 and is projected to reach $10.73 billion by 2022 growing at a CAGR of 5.22% from 2015 to 2022. Increasing demand from aerospace and automotive industry, rising demand for value-added products and rapid growth in emerging regions are some of the factors driving the market growth. Furthermore, technological advancements and increasing number of applications would further augment the market growth. However, high initial cost and high raw material costs are hampering the market growth. The rapid industrialization in emerging regions such as Asia Pacific, Middle East and Latin America are anticipated to boost the demand of high performance alloys in future.
The ability to withstand high temperature and high pressure conditions are boosting the market for aluminium alloys. Furthermore, aluminium and titanium alloys are being used in aerospace and automotive industries, to reduce weight and increase fuel efficiency. Non-ferrous alloys are the highest revenue-generating segment owing to its extensive use in many end user industries. However, refractory alloys segment would witness a significant growth during the forecast period. In 2015, aerospace accounted for approximately 55% of the global market share.
North America is anticipated to be the largest market for high performance alloys market due to presence of manufacturing giants, and well established aerospace industry. However, Asia Pacific is expected to witness highest growth on account of rapid industrialization and expanding end user industries in countries such as China, Japan and India.
Some of the key players in global high performance alloys market include, Hitachi Metals Ltd., Carpenter Technology, Alcoa Inc., Timken Company, RTI International Metals, Haynes International Inc., Aperam SA, ThyssenKrupp AG, Outokumpu, Allegheny Technologies Inc., Precision Castparts Corp. and VSMPO-Avisma Corporation.
- Other Materials
Alloy Types Covered:
- Cast Aluminum Alloy
- Wrought Aluminum Alloy
- Refractory Metal Alloys
- Non-Ferrous Alloys
- Platinum Group Alloys
- Other Products
- Electrical & Electronics (E&E)
- Oil & gas
- Other Applications
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·Rest of Asia Pacific
- Rest of the World
- ·Middle East
- ·South Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancement