Global High-Performance Alloys Market Size To Grow At A CAGR Of 4.50% During The Forecast Period Of 2023-2028
The ‘Global High-Performance Alloy Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global high-performance alloys market, assessing the market on the basis of its segments like product type, material, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyzes the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Global High-Performance Alloys Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.50%
One of the key factors driving the market value is the significant rise in the utilisation of high-performance alloys for military purposes, aimed to improve operational efficiency. The aerospace sector is going through a surge in demand for next-generation aircraft and for the manufacture of jet engine fuel nozzles. These factors have further propelled the sales of HPAs all around the world.
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These alloys are also being implemented in commercial gas turbines they can aid in improving overall performance. The oil and gas industry’s increasing use of HPAs for onshore and offshore exploration activities, drilling, and production operations is an additional factor augmenting the market development.
Global High-Performance Alloys Industry Definition and Major Segments
High-performance alloys (HPA) are metal materials that are often known as superalloys. These materials are specially manufactured to offer certain characteristics, such as high corrosion resistance, heat resistance, enhanced mechanical strength, and oxidation resistance. The aircraft industry’s ever-increasing demands continue to drive the HPA market development. The demands from other businesses, including power generation, petrochemicals, and industrial chemicals, have also played a significant role.
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The segments of the market, based on product type, include the following:
• Non-Ferrous Metal
• Platinum Group Metals
• Refractory
• Super Alloys
Based on the material, the market divisions include the following:
• Aluminium
• Titanium
• Magnesium
• Others
On the basis of application, the market segments include:
• Aerospace
• Industrial Gas Turbine
• Industrial
• Automotive
• Oil and Gas
• Electrical and Electronics
• Others
Based on region, the market for high-performance alloys can be segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Global High-Performance Alloys Market Trends
The demand for high-performance alloys in various end-use industries is increasing in the Asia Pacific region, which can be attributed to the rapid industrialisation happening in some of the major countries in the region. The implementation of lightweight high-performance alloys in the automotive industry to improve performance and fuel efficiency is also a major contributor to the market expansion.
Additionally, the market is experiencing a surge in demand for titanium, since it is one of the most important raw materials for the aerospace industry and the rising development of aircraft has propelled the market growth significantly.
Key Market Players
The major players in the high-performance alloys market report are:
• ATI
• Aperam SA
• CRS Holdings, LLC.
• Nippon Yakin Kogyo Co., Ltd.
• High Performance Alloys, Inc.
• Precision Castparts Corp
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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