Global
high performance alloys market was valued at USD 6.82 billion in 2013
and is anticipated to reach USD 9.09 billion by 2020, expanding at a
CAGR of 4.2% during the forecast period from 2014 to 2020. In terms
of volume, global high performance alloys market stood at 1,110.7
kilo tons in 2013.
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High
performance alloys exhibit excellent mechanical strength and high
resistance to creep at high temperatures. About 60% of an aircraft is
incorporated with high performance alloys. Thus, increasing demand
for high performance alloys from the aerospace industry is estimated
to boost the high performance alloys market during the forecast
period. Furthermore, rising demand for gas turbines in power
generation applications is projected to drive demand for high
performance alloys, as gas turbines require materials that withstand
elevated temperatures. However, capital-intensive manufacturing of
high performance alloys may hamper the market in the next few years.
Furthermore, development of high strength and lightweight high
performance alloys may open up new avenues for market growth.
Non-ferrous
alloys including titanium and aluminum accounted for 51% of the total
market in 2013. Demand for non-ferrous alloys is likely to increase
in the next few years due to rising demand for titanium from the
aerospace industry. Growth in the aviation industry in emerging
economies such as India, China, Brazil, South Africa and Russia is
expected to boost demand for high performance alloys in these regions
in the near future.
Aerospace
application dominated the high performance alloys market, accounting
for over 54% share of the market in 2013. Rapid growth in the
aerospace industry is anticipated to significantly drive demand for
high performance alloys during the forecast period. Increasing demand
for power generation and oil & gas is also estimated to boost
demand for high performance alloys during the forecast period.
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In
terms of demand, North America was the leading region in the high
performance alloys market in 2013. This was followed by Europe. North
America and Europe accounted for around 72% share of the total high
performance alloys market in 2013. Asia Pacific is likely to be the
fastest growing regional market in terms of demand during the
forecast period.
Key
players in the high performance alloys market include Allegheny
Technologies Inc, Aperam, Carpenter Technology Corporation, RTI
Metals, and VSMPO. The report segments the global high performance
alloys market as:
High
Performance Alloys Market – Product Segment Analysis
- Non-ferrous alloys
- Platinum group metal alloys
- Refractory metal alloys
- Superalloys
High
Performance Alloys – Application Analysis
- Aerospace
- Industrial gas turbines
- Industrial
- Automotives
- Oil & gas
- Electronics & electrical
- Others (Medical, chemical, etc)
High
Performance Alloys – Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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Press Release Of High Performance Alloys Market
http://www.transparencymarketresearch.com/pressrelease/high-performance-alloys-market.htm
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