The global high performance alloys market exhibited negative growth in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Also known as superalloys, high performance alloys have an austenitic face-centered cubic crystal structure with cobalt, nickel, or nickel-iron as the base alloying element. They exhibit excellent mechanical strength, superior functionality, and high corrosion and heat resistance compared to stainless steel. As a result, they find applications in atomic power, semiconductors, desalination, and solar and fuel cells around the world.

High Performance Alloys Market Trends:
A considerable rise in the use of high performance alloys in the defense sector for enhancing operational efficiency represents one of the primary factors positively influencing the market. Moreover, there is an increase in the demand for next-generation aircraft and building fuel nozzles of jet engines in the aerospace industry. This, in turn, is positively driving the sales of high performance alloys across the globe. Additionally, these alloys are used in industrial gas turbines as they help increase the overall performance. Furthermore, the market is driven by the rising utilization of high performance alloys in the oil and gas industry for onshore and offshore exploration, drilling, and production activities. Besides this, due to the rising environmental concerns and stringent regulations implemented by governing agencies of numerous countries, there is a significant rise in the demand for fuel-efficient vehicles. Consequently, leading vehicle manufacturers are relying on high-performance alloys for reducing the overall weight of the vehicle. Other major factors anticipated to support the growth of the market include developments in aluminum and magnesium mining and increasing extraction of metals used for alloying.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global high performance alloys market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product, material and application.

Breakup by Product:

Non-ferrous Metal
Platinum Group Metal
Refractory
Superalloys

Breakup by Material:

Aluminum
Titanium
Magnesium
Others

Breakup by Application:

Aerospace
Industrial Gas Turbine
Industrial
Automotive
Oil and Gas
Electrical and Electronics
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alcoa Corporation, Allegheny Technologies Incorporated, Aperam S.A., Carpenter Technology Corporation, Haynes International Inc., Hitachi Metals Ltd. (Hitachi Ltd.), Outokumpu Oyj, Precision Castparts Corp. (Berkshire Hathaway Inc.), The Timken Company, ThyssenKrupp AG and VSMPO-AVISMA Corporation.

Key questions answered in this report:
How has the global high performance alloys market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global high performance alloys market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the material?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global high performance alloys market and who are the key players?
What is the degree of competition in the industry?