The global market for High Performance Alloys (HPAs) is projected to exceed 700 thousand metric tons by 2024, driven by relentless improvements in metal manufacturing techniques to meet the growing demand for smarter, lighter, stronger and superior quality metals in major end-use sectors such as aircraft, rocket engines, petroleum plants, oil & gas, automotive, military, electronics, marine and rail engineering. High performance materials are core requirements for virtually every manufactured commodity. Benefits of high performance alloys that make them the most preferred class of manufacturing materials include unrivalled corrosion resistance and stress, cracking and fracture resistance; high strength and toughness; ductility; resistance to high temperature, acids; high wear and tear resistance; superior performance even in cryogenic temperatures; lightweight and easy customization capabilities; and excellent surface stability; among others. Other major factors poised to drive growth in the market include substitution of steel by aluminum and titanium-based HPAs in aircraft engine manufacturing; increased use of alloys in interventional and implantable medical devices and the resulting opening up of opportunities in the healthcare sector; focus on lighter, stronger, energy efficient and low emission engineering designs in the automotive and aerospace sector; increasing use of seawater for effluent cooling and the resulting increase in demand for HPAs for structural materials that can withstand corrosion, erosion/wear and biofouling. Europe represents the largest market worldwide, followed by the United States. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.1% over the analysis period led by factors such as rapid industrialization; phenomenal progress in infrastructure projects and the resulting need for high performance alloys and super alloys in plant infrastructure and equipment; developing power generation and transportation industries and the need for allied high performance materials in the manufacturing supply chain.
Company and Industry News & Stories
- Materion Signs a Distribution Agreement with EDRO, in a Move to Supply Materion’s MoldMAX® Plastics Tooling Alloys in the European Market
- With the Aim to Support Critical Applications in the Medical Device Industry, Fort Wayne Metals Acquires G&S Titanium
- IBC and NioCorp Announces the Completion of Production Campaign for Aluminum-Scandium Alloy Ingots
- Lebronze Alloys Acquires Bolton Metals, a Renowned World Leader in the Production of Copper based Alloys in the UK
- APWORKS Partners with TOYAL in a Bid to Develop, Produce and Distribute Scalmalloy®
Outlook in Key Market Segments
- Nickel alloys market is projected to witness the fastest growth driven by the materials’ valuable engineering properties such as the ability to deliver reliable performance at high pressure and temperature and anti-fouling resistance.
- Titanium Alloying Metal is projected to provide significant opportunities for revenue growth over the medium to long-term period, supported by growing applications in the aerospace industry.
Product Definition & Scope
- High performance alloys is a collective term used to represent a group of metals and its alloys possessing high performance characteristics and perform with enhanced efficiency and longevity under demanding conditions of high temperature and high-pressure surroundings. Major application areas for high performance alloys are in aerospace, nuclear, biomedical, oil and gas exploration, chemical processing, and transportation industries, among others.
Timeline for Analysis
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Geographic Markets Analyzed
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America, and Rest of World
Market Segmentation & Classification
- Alloying Metal :
- Nickel Alloys, Cobalt Alloys, and Titanium Alloys
- End-Use Applications:
- Gas Turbines, Industrial, Aerospace, and Others
- Allegheny Technologies Incorporated
- AMG Advanced Metallurgical Group N.V
- Aperam S.A.
- Arconic Inc.
- Carpenter Technology Corporation
- Constellium N.V.
How Can You Benefit?
This research project broadly covers analysis of all market trends, drivers, challenges and other macro market scenarios you need to know to improve your strategic planning and remain informed and competitive. The study also provides reliable ready facts and exclusive statistical data insights in addition to expert and highly accurate market size forecasts and projections to help you identify new markets and opportunities for revenue growth and sustainability. The extensive reportage of industry, company and product news and stories together with coverage of all major and niche players provided in the report helps you build a 360 degree perspective on your markets and gain unsurpassed insights needed to devise plans and strategies to maximize business growth.