The High Performance Alloys Market size is forecasted to grow at a CAGR of 4.1% during the forecast period 2022-2027 and reach US$12.2 billion by 2027. High-performance alloys are composed of various materials which include non ferrous metal such as aluminum and nickel, along with composite-clad materials, precious metals, refractory materials and more. An increase in automotive production along with the surging demand from the oil & gas industry is expected to drive the growth of the high performance alloys market size in the upcoming years. On the other hand, fluctuating prices of raw materials may confine the growth of the market. The High Performance Alloys Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Competitive Landscape:
The top 5 players in the High Performance Alloys Industry are –
1. Aperam SA
2. Alcoa Inc.
3. Allegheny Technologies Incorporated
4. Carpenter Technology
5. Haynes International Inc.
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Segmental Analysis :
1. Non ferrous metal such as aluminum is lightweight, highly flexible and cost-effective as opposed to other types of materials. Hence, all of these benefits are driving its demand over other types of materials, which in turn, is expected to boost the market growth during the forecast period.
2. The aerospace industry held the largest High Performance Alloys Market share of over 25% in 2021, owing to its increasing demand from the aerospace sectors across the world. High-performance alloys are primarily used in aircraft engines, instrumentation, radio communication equipment, wire-wound potentiometers and other similar applications
3. Surging development associated with the aerospace sector in the region is expected to increase the demand for high-performance alloys, owing to its above-mentioned properties. This is expected to accelerate the market growth during the forecast period.
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Report Coverage |
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Report Attributes |
Details |
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By Material Type |
Non Ferrous Metal (Aluminum, Copper, Nickel, Others), Composite-Clad Materials, Precious Metals (Gold, Silver, Titanium), Refractory Materials (Molybdenum, Niobium, Tantalum, Tungsten, Rhenium), Stainless Steel |
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By Product |
Temperature Resistant (Hastelloy Alloy, Inconel Alloy, Haynes Alloy), Corrosion Resistant (Nickel, Monel Alloy, Ferralium Alloy) Wear Resistant (HPA Cobalt Alloy, Nitronic Alloy) |
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By End-Use Industry |
Automotive (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Aerospace (Commercial, Military, Others), Power Generation (Wind, Solar, Geothermal), Electrical & Electronics, Medical, Oil & Gas |
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By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World |
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Market Drivers and Challenges :
1. High performance alloys such as hastelloy alloy, haynes alloy and more are primarily used in the automotive industry in electrical systems, sensors, control units along with heater cores, tubes, radiators and tanks of an automobile.
2. Increasing production from the automotive industry is expected to increase the demand for high performance alloys utilized in such industry for use in automobile electrical systems, sensors, control units and more. This is anticipated to drive the growth of the market in the upcoming years.
3. High performance alloys such as inconel alloy are commonly used in the valve stems, flex shafts, tanks, pump shafts, pump impellers, rock bit bearings, wear plates, piping systems and other components of an oil and gas plant, owing to their ability to deliver high performance under mechanical stress and extreme temperatures.
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