Dublin, Oct. 13, 2021 (GLOBE NEWSWIRE) -- The "High Performance Alloys - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global High Performance Alloys Market to Reach $9.8 Billion by 2026
The global market for High Performance Alloys estimated at US$7.4 Billion in the year 2020, is projected to reach a revised size of US$9.8 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Non-Ferrous Metal, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$5.4 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Super Alloys segment is readjusted to a revised 4.3% CAGR for the next 7-year period. This segment currently accounts for a 30.9% share of the global High Performance Alloys market.
Demand will be driven by industrial and aerospace applications due to the ability of non-ferrous alloys to withstand high pressure and temperature. The demand for super alloys is expected to be driven by their attractive properties such as strength at high temperature, toughness, and resistance to oxidizing and corrosive environments. Market demand for super alloys will be fueled by their increasing use in oil & gas industries, chemical/petrochemical processing, and power plants.
Post pandemic growth in the market will be driven by demand momentum for lightweight, high performance materials in various applications in the aerospace, automotive, oil & gas, construction, energy generation, among others.
Another important growth driver will be the substitution of metals including steel by aluminum- and titanium-based high-performance alloys supported by their increasing use in the manufacture of rocket and aircraft engines; in the automotive sector due to their contribution towards significant weight reduction; and in oil & gas exploration applications due to their capabilities to withstand high-pressure and high-temperature conditions.
The market will also witness growth due to increasing activities of titanium extraction and magnesium mining leading to high availability of these elements, which are used as raw materials for the manufacture of high performance alloys.
The U.S. Market is Estimated at $1.9 Billion in 2021, While China is Forecast to Reach $1.6 Billion by 2026
The High Performance Alloys market in the U.S. is estimated at US$1.9 Billion in the year 2021. The country currently accounts for a 25.35% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.6 Billion in the year 2026 trailing a CAGR of 6.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 3.9% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the end of the analysis period. In the post-COVID-19 scenario, anticipated resurgence in core end-use sectors especially in the developing Asia-Pacific and Latin America nations, would renew the demand for machine tools in various end-use sectors, thus creating growth opportunities for high performance alloys. Europe is also anticipated to post steady growth in the post pandemic period due to the expected increase in the use of high performance materials in the automotive industry.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Why Investing in Materials Innovation is Vital for Countries & Their Economy
- HPAs: Here's Why They Are the Advanced Material of Choice for Corrosion Resistance & Versatility
- These are Times When Questions Abound & Answers Are Few
- So How Fast Or Slow Are We Moving?
- As India Burns Amid a Lethal Double & Triple Mutation Driven Second Wave, Its Clear That Equity is Not a Part of Global Policy on Tackling COVID
- Progress on Vaccinations, Why Should Businesses Care?
- With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback
- A Retrospective Review of Year 2020 as the Worst Year in Humanity's History that Left the World in Shambles & Industries and Markets Upended
- How Major End-Use Markets Are Impacted by the Pandemic & What's the New Normal?
- Automotive End-Use Industry
- Manufacturing & Machinery End-Use Industry
- Aerospace Manufacturing End-Use Sector
- Oil & Gas End-Use Sector
- COVID-19 Pain in Oil Production to Spill Over Into 2021
- Energy End-Use Sector
- Here's How the Post Pandemic Market Will Look Like
- High Performance Alloys: A Review of Types, Benefits & End-Use Applications
- Recent Market Activity
- Innovations
- World Brands
2. FOCUS ON SELECT PLAYERS (Total 110 Featured)
- Allegheny Technologies Incorporated
- AMG Advanced Metallurgical Group N.V.
- Aperam S.A.
- Carpenter Technology Corporation
- Constellium SE
- Doncasters Group Limited
- ERAMET S.A.
- Fort Wayne Metals Research Products Corp.
- Glencore Plc
- H.C. Starck GmbH
- Haynes International, Inc.
- High Performance Alloys, Inc.
- Hitachi Metals, Ltd.
- Howmet International Inc.
- Metallurgical Plant Electrostal, JSC
- Nippon Yakin Kogyo Co., Ltd.
- Precision Castparts Corp.
- Sandvik AB
- Special Metals Corporation
- TimkenSteel Corporation
- Titanium Metals Corporation (TIMET)
- Universal Stainless & Alloys Inc.
- VDM Metals GmbH
- VSMPO-AVISMA Corporation
3. MARKET TRENDS & DRIVERS
- Rise of Lightweighting as a Part of the Long-Term Manufacturing Strategy to Benefit HPA Demand
- A Review of Lightweighting in Aerospace Manufacturing
- A Review of Lightweighting in Automobile Manufacturing
- Stringent Regulations & Competitive Pressures Prompt Automakers to Focus on Specialty Alloys
- Expanding Industrial Applications for Titanium Based Alloys to Continue Post Pandemic
- Here's Why Nickel Alloys Hold a Stronger Potential for Long-Term Growth
- Opportunities in the Medical Devices Sector to Gain Momentum
- Newer Applications to Drive Gains Over the Long-Term
- Projected Rebound in Oil Production Post COVID-19 in 2022 to Positively Impact Demand for HPAs
- Expected Recovery in the Construction Industry to Revive Demand for HPAs in 2021 & Beyond
- Forced Investments in Upgrading the Creaking Energy Infrastructure, Post Pandemic to Drive Demand for HPAs in Industrial Gas Turbines (IGT)
- Turbine Applications Posed for Steady Growth, Post Pandemic
- Use of AI in the Design of High Performance Alloys Gains Momentum
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/krw89a
