According to the latest report by IMARC Group, titled “High Performance Alloys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global high performance alloys market size exhibited negative growth in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 6% during 2021-2026.
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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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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Key Market Segmentation:
Competitive Landscape with Key Player:
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 (2015-2020)
Market Outlook (2021-2026)
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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