Market Research Future Published a Half-Cooked Research Report on Global High-Performance Alloys Market Research Report - Forecast to 2023
Market Synopsis:
High Performance Alloys are mixtures of high-end metals and exhibit significant characteristics. It is anticipated to exhibit rising applications across different industry verticals over the next couple of years. According to the assessment of High-Performance Alloys Market conducted by Market Research Future (MRFR), it is expected to value at over USD 50 Bn by 2023 striking a robust CAGR during the review period 2018 to 2023. The alloys are extensively used in the end-user industries. The growth of the global economy, in conjunction with rapid developments in the industrial sector, is expected to drive the growth of the High-Performance Alloys Market in the years to come.
These alloys offer key advantages such as great resistance to corrosion & oxidation, mechanical strength, surface stability, etc. It is poised to lead to rising applications across domains, thus, prompting the expansion of the High-Performance Alloys Market over the projection period. In addition, the innovations in chemical processes are projected to catapult the market on upward trajectory.
The rising demand for High Performance Alloys from the core industries such as automotive, aerospace & defense, marine, etc. are anticipated to favor the proliferation of the market in the foreseeable future. The booms witnessed in these industries are poised to reflect on the growth pattern of the High-Performance Alloys Market over the next couple of years. However, on the contrary, factors such as high capital investments, complex processes, and high cost of the structure are likely to check the growth of the market in the nearby future.
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Competitive Dashboard:
The prominent players participating in the Global High Performance Alloys Market are Hitachi Metals Ltd. (Japan), Alcoa Inc. (U.S.), Carpenter Technology Corporation (U.S.), RTI International Metals (U.S.), Timken Company (U.S.), Precision Castparts Corp. (U.S.), Aperam SA (Luxembourg), ThyssenKrupp AG (Germany), VSMPO-Avisma Corporation (Russia), and Outokumpu (Finland).
Industry News:
In June 2020, Mg Magnesium Inc., a U.S. based company focusing on the mining and production of magnesium products, has entered into an agreement with CVMR (USA) Inc. for refining one of the largest North American Magnesium mines.
In March 2020, Switzerland’s Sider Alloys has announced that it will re-start production in Italy’s Portovesme aluminum plant in 2020.
In February 2020, IMR Metallurgical Resources AG, a Swiss commodity trading group, initiated talks with bankers for the acquisition of a steel plant in Odisha, India. The same company has completed the purchase of Tata Steel’s iron ore mines in South Africa.
Segmental Analysis:
By Metal Type, the Global High-Performance Alloys Market has been segmented into aluminum, titanium, iron, magnesium, and others.
Based on Product, the Global High-Performance Alloys Market has been segmented into refractory, non-ferrous, superalloys, and others.
By End-User Industry, the Global High-Performance Alloys Market has been segmented into automotive, industrial, aerospace and defense, electrical and electronics, marine, oil and gas, and others.
Regional Analysis:
The Geographical Assessment of the Global High-Performance Alloys Market spans across five key regions, namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa (MEA). Asia Pacific held the largest share of the market in 2017 and is poised to maintain its prominence over the next couple of years. The prominent sub-markets of the region are assessed to be India, Japan, South Korea, and China. The growth of the industries such as automotive, consumer electronics, etc. is projected to drive the expansion of the regional segment in the years to come. North America is projected to secure the second spot and exhibit significant growth due to the rising demand from the U.S. aerospace & defense industry.
Browse Key Industry Insights spread across 100 pages with 47 market data tables & 13 figures & charts from the report, “High Performance Alloys Market Information: By Metal Type (Iron, Aluminum, Titanium, Magnesium), Product (Non-Ferrous, Refractory, Superalloys), End-Use Industry (Aerospace & Defense, Automotive, Industrial, Electrical & Electronics, Oil & Gas) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/high-performance-alloys-market-6190
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