Felton - This
report provides in depth study of “High Performance Alloys Market”
using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the
organization. The High Performance
Alloys Market report also provides an in-depth survey of top key players in
the market which is based on the various objectives of an organization such as
profiling, the product outline, the quantity of production, required raw
material, and the financial health of the organization.
Global High Performance Alloys Market is expected to reach
USD 11.34 billion by 2024. High performance alloys is also termed as super
alloy that are resistant to thermal creep deformation, excellent mechanical
energy, resistance to oxidation or corrosion, and suitable floor stability.
These alloys have chemical and superior physical properties as compared to
standard alloys. Industries for enhanced operational performance such as power
generation, oil and gas and many others mainly use high performance alloys. The
high performance alloys market is estimated to grow at a significant CAGR of
4.7% over the future period as the scope and its applications are rising enormously
across the globe.
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High resistance to heat and corrosion, raising demand from
end-use manufacturers in emerging countries, growing industrialization, and
increasing technological enhancement are documented as major factors of high
performance alloys industry that are estimated to enhance the growth in the
years to come. High performance alloys industry is segmented based on type,
product type, material type, application, and region. Cast alloy and wrought alloy
are the major types that could be explored in high performance alloys in the
forecast period.
Super alloys, non-ferrous metal, refractory, platinum group,
and other product types could be explored in high performance alloys in the
forecast period. The non-ferrous sector estimated to lead the overall market
with largest share. As, recycling capabilities and high consumption of
non-ferrous scrap in industrial activities. In terms of volume, the high
performance alloys market is estimated to grow at highest CAGR of 4.0% in the
future period. Brass, nickel, lead, zinc, copper, aluminum, and tin are the
non-ferrous alloys. The alloys of these metals have outstanding thermal
stability, lighter in weight, resistant to corrosion, malleable, and gives
eminent strength at high temperature. Material required for high performance
alloys are magnesium, aluminum, titanium, and others that could be explored in
the foremost period. Others segment includes molybdenum, nickel, and cobalt.
The high performance alloys industry may be categorized
based on applications like electrical & electronics, aerospace, oil &
gas, industrial gas turbine, automotive, industrial, and others. Aerospace
sector accounted for the largest market share. This may be because of high demand
for materials that can resist high temperature and have a projecting
strength-to-weight ratio. These alloys are used to manufacture aircraft
components like rings and airframe parts, blades, engine cases, disc, and
others.
Globally, North America accounted for the largest market
share of high performance alloys market and is estimated to lead the overall
market in the coming years. The reason behind the overall market growth could
be high demand from aerospace & defense industry and rebuilding of the oil &
gas industry. In addition, elevating fuel efficiency and reducing emissions and
presence of component manufacturers and significant aircraft will positively
affect in the overall market growth. The United States is a major consumer of
high performance alloys in this region.
The key players of high performance alloys industry are
SMPO-AVISMA Corporation, Ape ram SA, Timken Company, Alcoa Inc., Precision
Castparts Corporation, Allegheny Technologies Incorporated, Out okumpu,
Carpenter Technology, Hitachi Metals Ltd., and Haynes International Inc. These
players are concentrating on inorganic growth to sustain themselves amongst
fierce competition. As such, mergers, acquisitions, and joint ventures are the
need of the hour.
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Major Key Points in
Table of Content
1 Market Definition
2 Global Market by Vendors
3 Global Market by Type
4 Global Market by End-Use / Application
5 Global Market by Regions
6 North America Market
7 Europe Market
8 Asia-Pacific Market
9 South America Market
10 Middle East & Africa Market
11 Market Forecast
12 Key Manufacturers
13 Price Overview
14 Research Conclusion
Continued….
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