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Global High Performance Alloys Industry

Global High Performance Alloys Industry

  • July 2020
  • 431 pages
  • ID: 92569
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

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.

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