High Performance Alloys Market Revenue Drivers | Size, Share & Product Analysis | Forecast Report

Felton, Calif., USA, Jan. 19, 2021 — /EPR Network/ —

The global High Performance Alloys Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global High Performance Alloys Market is expected to reach USD 11.34 billion by 2024. High performance alloys is also termed as super alloy that are resistant to thermal creep deformation, excellent mechanical energy, resistance to oxidation or corrosion, and suitable floor stability. The high performance alloys market is estimated to grow at a significant CAGR of 4.7% over the future period as the scope and its applications are rising enormously across the globe.

Key Players:

  • Alcoa Inc.
  • Precision Castparts Corp.
  • Outokumpu
  • Hitachi Metals Ltd.
  • Aperam SA
  • Allegheny Technologies Incorporated
  • Carpenter Technology
  • Haynes International Inc.
  • Timken Company
  • VSMPO-Avisma Corporation

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Growth Drivers:

High resistance to heat and corrosion, raising demand from end-use manufacturers in emerging countries, growing industrialization, and increasing technological enhancement are documented as major factors of high performance alloys industry that are estimated to enhance the growth in the years to come. High performance alloys industry is segmented based on type, product type, material type, application, and region. Cast alloy and wrought alloy are the major types that could be explored in high performance alloys in the forecast period.

Application Outlook:

  • Aerospace
  • Industrial Gas Turbine
  • Industrial
  • Automotive
  • Oil & Gas
  • E & E

Product Outlook:

  • Non-ferrous metals
  • Platinum group metals
  • Refractory
  • Super alloys

Regional Outlook:

Globally, North America accounted for the largest market share of high performance alloys market and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be high demand from aerospace & defense industry and rebuilding of the oil & gas industry. In addition, elevating fuel efficiency and reducing emissions and presence of component manufacturers and significant aircraft will positively affect in the overall market growth. The United States is a major consumer of high performance alloys in this region.

Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, in terms of revenue, Asia Pacific is estimated to grow at fastest pace with the highest CAGR of 5.9% in the foremost period. The aspects that may be ascribed to the growth comprise expanding aerospace industry, raising production of automobiles, and increasing gross domestic product (GDP) of the developing countries. The developing countries like India and China are the major consumers of high performance alloys in this region.

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