High Performance Alloys Market worth 9,698.35 M USD by 2020, According to a New Study on ASDReports

Monday 9 November 2015, Amsterdam

The report,  now available on ASDReports, “High Performance Alloys Market by Alloy Type (Wrought, Cast), Product Type (Non-Ferrous Alloys, Refractory Alloys), Alloying Element (Aluminum, Titanium, Magnesium), Application (Aerospace, Industrial, Automotive), & Geography - Global Forecast to 2020” defines and segments the global high performance alloys market with analysis and forecasting of the global revenues for high performance alloys. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, and challenges.

The market is segmented and revenues are forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The key countries are covered and their market sizes have been forecasted for each region. Further, the market is segmented and revenues are forecasted on the basis of application.

The high performance alloys industry is influenced by the increase in population, consumer awareness, changing consumer preferences, urbanization, and development in economy, which drive the demand for sustainable products. These factors will drive the demand for high performance alloys from these regions. Advancement in technology and economies of scale has enabled the use of high performance alloys in a wide range of applications and lowered the production cost.

Growing demand for high performance alloys in emerging economies such as China is expected to drive the high performance alloys market. Emerging countries such as China, India, Brazil, and countries in Southeast Asia are witnessing change in consumer preferences.

The market for high performance alloys is observed to be maturing in economies such as Europe and North America though they still account for the largest market share. The North American region formed the largest market for high performance alloys, in terms of volume, having accounted for 472.02 KT in 2014, with a share of 38%. The global market for high performance alloys is projected to grow at a CAGR of 4.34% from 2015 to 2020, to reach USD 9,698.35 Million by 2020.

The development of economies plays an essential role in increasing the demand for high performance alloys in the global market. The key parameter that determines the growth of high performance alloys in developing economies is the increase in consumption. The growing GDP in emerging markets such as China, India, and Brazil is estimated to drive the demand for high performance alloys.