High Performance Alloys Market Size Is Estimated To Reach $11.34 Billion By 2024
The global high performance alloys market size is
expected to reach USD 11.34 billion by 2024, according to a new report by Grand
View Research, Inc. The industry is anticipated to grow, primarily on account
of rising substitution of materials such as steel and aluminum due to superior
performance and reduction in the price of such alloys.
Favorable characteristics of the alloys which aid in
improvement in performance efficiency coupled with superior heat and insulation
is expected to drive the demand. The price of the products is generally high on
account of higher production cost, which is expected to emerge as one of the
major factors restraining growth.
The increasing cost of the alloying metals coupled
with monopolistic hold of the industry players over the market is expected to
hamper the demand over the forecast period. However, the lack of alternatives
to the metals and commercialization of favorable technologies is anticipated to
drive the demand over the forecast period.
Presence of a number of raw material suppliers is
expected to decrease the bargaining power. Furthermore, lower raw material
prices offered by suppliers from Asia Pacific is expected to propel demand.
However, increasing demand for these raw materials from other key end-use
industries is expected to decline raw material availability.
Full
Research Report On Global High Performance Alloys Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/high-performance-alloys-market
www.grandviewresearch.com/industry-analysis/high-performance-alloys-market
Further
key findings from the report suggest:
- Titanium based high performance alloys are
expected to register a CAGR of 5.1% by revenue over the forecast period on
account of heightened use in the production of turbine blades, aircraft
engines, and nuclear reactors
- Non-ferrous alloying material accounted for a
market share with 51.6%, in terms of revenue, on account of low cost of
the material coupled with extensive usage in the manufacture of electronic
& electrical devices.
- The use of the products in aerospace is
expected to cater to a market share of 55.4% in terms of revenue on
account of growing demand for lightweight materials for use in commercial
and defense aircrafts
- Asia Pacific region is estimated to register
fastest growth with a CAGR of 5.9%, in terms of revenue on account of
growing automotive industry in emerging economies such as China and India
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the high performance alloys market on
the basis of product, material, application and region.
High
Performance Alloys Product Outlook (Volume, Kilotons; Revenue, USD Million;
2013 - 2024)
- Non-ferrous
metals
- Platinum
group metals
- Refractory
- Super
alloys
High
Performance Alloys Material Outlook (Volume, Kilotons; Revenue, USD Million;
2013 - 2024)
- Aluminum
- Titanium
- Magnesium
- Others
High
Performance Alloys Application Outlook (Volume, Kilotons; Revenue, USD Million;
2013 - 2024)
- Aerospace
- Industrial
Gas Turbine
- Industrial
- Automotive
- Oil
& Gas
- E &
E
- Others
High
Performance Alloys Regional Outlook (Volume, Kilotons; Revenue, USD Million;
2013 - 2024)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- The UK
- Russia
- France
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Argentina
- Middle
East & Africa
- South
Africa
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-high-performance-alloys-market
www.grandviewresearch.com/press-release/global-high-performance-alloys-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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