According to the latest report by IMARC Group, titled “High-Performance Alloys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global high-performance alloys market size reached US$ 8.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2027, exhibiting a growth rate (CAGR) of 5.2% during 2022-2027. High-performance alloys, or superalloys, possess an austenitic face-centered, cubic crystal structure with a fundamental alloying element of cobalt, nickel-iron or nickel. They offer excellent creep resistance and mechanical strength at high temperatures, corrosion and oxidation resistance, and good surface stability. Superalloys can be produced and supplied in the form of a plate, pipe and tube, wire, sheet, and fittings. They are extensively used in power plants, petrochemical and chemical processing, aerospace, and oil and gas industries.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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Global High-Performance Alloys Market Trends:
A significant growth in the aerospace and defense industries has escalated the demand for both fighter and commercial jets, which is primarily driving the global high performance alloys market. The expansion in the electrical and electronics industries is further fueling the market growth. In addition to this, governments of various nations have implemented stringent regulations to curb the consistent rise in carbon emissions generated from vehicles, which has increased the utilization of superalloys in the automotive industry.
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Global High-Performance Alloys Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- Alcoa Corporation
- Allegheny Technologies Incorporated
- Aperam S.A.
- Carpenter Technology Corporation
- Haynes International Inc.
- Hitachi Metals Ltd. (Hitachi Ltd.)
- Outokumpu Oyj
- Precision Castparts Corp. (Berkshire Hathaway Inc.)
- The Timken Company
- ThyssenKrupp AG
- VSMPO-AVISMA Corporation.
Breakup by Product:
- Non-ferrous Metal
- Platinum Group Metal
- Refractory
- Superalloys
Breakup by Material:
- Aluminum
- Titanium
- Magnesium
- Others
Breakup by Application:
- Aerospace
- Industrial Gas Turbine
- Industrial
- Automotive
- Oil and Gas
- Electrical and Electronics
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook ( 2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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