Global High Performance Alloys Market was valued US$ 7.3Bn in 2017 and is expected to reach US$ 11.3Bn by 2026 at a CAGR of 5.6%.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global high performance alloys market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global high performance alloys market.
Growing global population, changing consumer preferences, development in economy, consumer awareness, and urbanization are some other factors that are driving the high performance alloys market globally. Technological advancement and an increased level of production leading to achieving economies of scale have enabled the use of high performance in a wide range of applications. However, factors such as the high costs involved in the manufacture of high performance alloys over conventional alloys are expected to challenge the market's growth. But, development of lightweight, high strength, and high-performance alloys are anticipated to benefit the growth of high performance alloys market.
The aerospace industry is the largest end-user segment for high-performance alloys, which is almost half of the total global demand. Military aerospace industry consumes the largest part of the important strategic materials that are used in commercial aerospace. Inconel 718 (Nickel-based) superalloy is the most extensively used high-performance alloy.
Wrought alloy accounted for the largest share of 65% of the high performance alloys market in 2017. Cast alloy is expected to be the fastest-growing alloy type from 2018 to 2026. Wrought alloys hold low percentages of elements, that is, alloying elements total less than about 4 pct. Casting alloys contain the same elements as wrought, but in greater amounts such as the silicon content in cast alloys can range up to 22 pct.
Region-wise, The Asia-Pacific region is anticipated to dominate the global high performance alloys market during the forecast period, because of the increasing demand from the end-user industries, such as automotive, aerospace & defence, and energy & power. China, Japan, India, and South Korea are the main contributors in the Asia-Pacific region. Currently, AUSTRALIA-INDIA strategic research fund has supported a major collaboration into high performance alloys, which will position India and Australia to be more active in the high performance alloy market.
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The scope of Global High Performance Alloys Market
Global High Performance Alloys Market, by Alloy type
• Wrought alloy
• Cast alloy
Global High Performance Alloys Market, by Product type
• Non-ferrous alloys
• Refractory alloys
Global High Performance Alloys Market, by Alloying element
Global High Performance Alloys Market, by Application
• Oil & gas
• Electronics & electrical
Global High Performance Alloys Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global High Performance Alloys Market
• Alcoa Inc.
• Precision Castparts Corp.
• Hitachi Metals Ltd.
• Aperam SA
• Allegheny Technologies Incorporated
• Carpenter Technology
• Haynes International Inc.
• Timken Company
• VSMPO-Avisma Corporation
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