The Global Market for High Performance Alloys is Projected to Exceed 685 Thousand Metric Tons by 2022

Rising Focus on New and Efficient Manufacturing Materials & Metals Drive the Global High Performance Alloys Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global High Performance Alloys (HPAs) market. The global market for High Performance Alloys is projected to exceed 685 thousand metric tons by 2022, driven by the growing demand for new and efficient manufacturing materials in major end-use sectors and relentless improvements in metal manufacturing techniques.

High performance alloys (HPAs), also known as super alloys, are highly customized solutions that function in the most demanding environments in several application sectors. HPAs represent metal alloys or a blend of specific materials intended to deliver excellent strength, corrosion resistance, surface stability and performance along with low temperature ductility at high pressure and temperature. Based on their superior corrosion resistance and ability to maintain their strength in tough settings, these alloys are extensively used in aircrafts, rocket engines, petroleum plants, oil & gas, automotive, military, electronics, marine and rail engineering. The aerospace end-use application is expected to witness the fastest growth supported by strong defence and commercial aviation spending. Gas turbines application is expected to witness relatively slower growth on account of the weak spending by oil and gas companies on capital projects due to lower oil prices. Similarly, the industrial application is also growing at a soft rate due to conservative capital spending in view of the global economic slowdown and uncertainties, particularly in China. Superior attributes of high performance alloys that are driving widespread adoption of these metals include high strength and toughness, good weldability, long-lasting durability, excellent corrosion and oxidation resistance, elevated temperature properties, high strength-to-weight ratios, and fatigue properties, among others.  

Future growth in the market will be driven by growing demand for new, efficient, and innovative materials, metals and value-added products that are sustainable and feature light weight, good strength, and corrosion resistance. Another important growth driver is the substitution of many metals and alloys 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. Continued advancements in production and processing technologies in the industrial sector are expected to contribute significantly to market adoption of high performance alloys in the coming years. Other important factors that are poised to benefit market prospects include increasing investments in R&D projects to use innovative materials in the aerospace industry; rising aircraft deliveries; healthy commercial aviation outlook; expanding applications in desalination projects, nuclear power plants and shipbuilding; growing prominence of lighter, cooler, and stronger automobiles; and increasing power generation activity.

As stated by the new market research report on High Performance Alloys, Europe represents the largest market worldwide, followed by the United States. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.5% over the analysis period driven by the expansion of the aviation sector, along with the increasing use of high durability metals by the electrical & electronics and gas turbines industries. Other important growth drivers in the region include rapid industrialization, phenomenal progress in infrastructure projects, increasing numbers of production plants in China, penetration of advanced technologies in China and India, and steady rise in automotive production activity.

Key players covered in the report include Advanced Metallurgical Group N.V., Alcoa Howmet Castings, Alcoa Titanium & Engineered Products, Allegheny Technologies Incorporated, Aperam SA, Carpenter Technology Corporation, Doncasters Group Limited, Eramet Group, Fort Wayne Metals, Glencore Plc., Haynes International Inc., H.C. Starck GmbH, High Performance Alloys Inc., Hitachi Metals Ltd., JSC VSMPO-AVISMA Corp., Olin Brass Corporation, Precision Castparts Corp., Titanium Metals Corporation, Special Metals Corporation, QuesTek Innovations, LLC, and VDM Metals, among others.

The research report titled “High Performance Alloys: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, issues, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections in metric tons for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America and Rest of World. Product segments analyzed in the report include Nickel, Cobalt, and Titanium. End-use sectors analyzed in the report include Gas Turbines (Electrical & Mechanical), Industrial, Aerospace, and Others.

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