Dublin, Dec. 10, 2021 (GLOBE NEWSWIRE) -- The "High Performance Alloys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global high performance alloys market exhibited negative growth in 2020. Looking forward, the market is projected to grow at a CAGR of 6% during 2021-2026.
A considerable rise in the use of high performance alloys in the defense sector for enhancing operational efficiency represents one of the primary factors positively influencing the market. Moreover, there is an increase in the demand for next-generation aircraft and building fuel nozzles of jet engines in the aerospace industry. This, in turn, is positively driving the sales of high performance alloys across the globe. Additionally, these alloys are used in industrial gas turbines as they help increase the overall performance.
Furthermore, the market is driven by the rising utilization of high performance alloys in the oil and gas industry for onshore and offshore exploration, drilling, and production activities. Besides this, due to the rising environmental concerns and stringent regulations implemented by governing agencies of numerous countries, there is a significant rise in the demand for fuel-efficient vehicles. Consequently, leading vehicle manufacturers are relying on high-performance alloys for reducing the overall weight of the vehicle.
Other major factors anticipated to support the growth of the market include developments in aluminum and magnesium mining and increasing extraction of metals used for alloying.
Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global high performance alloys market, along with forecasts at the global, regional and country level from 2021-2026. The report has categorized the market based on region, product, material and application.
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
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Alcoa Corporation
- Allegheny Technologies Incorporated
- Aperam SA
- 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
Key Questions Answered in the Report
- How has the global high performance alloys market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global high performance alloys market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global high performance alloys market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/9g2ose
