The global high performance alloys market is expected to grow from $9.01 billion in 2021 to $9.51 billion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The market is expected to grow to $12.01 billion in 2026 at a CAGR of 6.0%.
Asia-Pacific was the largest region in the high performance alloys market in 2021. The regions covered in this high performance alloys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Increasing demand from end-user industries is expected to propel the growth of the high-performance alloy market going forward. High-performance alloys are used for a variety of purposes such as higher mechanical strength, better corrosion and oxidation resistance, and greater thermal creep resistance in various end-user industries such as automotives, electrical and electronics. As a result, an increase in demand for high-performance alloys from end-user industries also increases the demand for the high-performance alloys market.
For instance, in 2021, the European Automobile Manufacturers Association, a Belgium-based lobbying and standards group for the automobile industry, said that 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020. Further, according to the Japan Electronics and Information Technology Industries Association, the net production of electronics in Japan increased from 103.6% in 2021 to 110.8%in 2022. Therefore, the increasing demand from the end-user industry is driving the high-performance alloy market.
Technological advancements are a key trend gaining popularity in the high-performance alloy market. Major companies operating in the high-performance alloy market are focused on developing new technological solutions to strengthen their position.
For instance, in January 2022, Alloy Wire International (AWI), a UK-based manufacturer of high-performance alloys, launched a high-performance alloy, INCONEL: 617, a Chromium-Cobalt-Molybdenum alloy aluminium for various applications. This new alloy has unique features such as a combination of increased strength and stability at elevated temperatures up to 1,100 while retaining the high-temperature corrosion resistance of INCONEL alloy 601. The high nickel and chromium content makes the alloy resistant to a variety of reducing and oxidising media.
Report Attribute
Details
No. of Pages
175
Forecast Period
2022 - 2026
Estimated Market Value (USD) in 2022
$9.51 billion
Forecasted Market Value (USD) by 2026
$12.01 billion
Compound Annual Growth Rate
6.0%
Regions Covered
Global
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Scope Markets Covered:
1) By Alloy Type: Wrought Alloy; Cast Alloy 2) By Material: Aluminum; Titanium; Magnesium; Other Materials 3) By Application: Aerospace; Industrial Gas Turbine; Industrial; Automotive; Oil and Gas; Electrical and Electronics; Other Applications
Key Topics Covered:
1. Executive Summary
2. High Performance Alloys Market Characteristics
3. High Performance Alloys Market Trends And Strategies
4. High Performance Alloys Market - Macro Economic Scenario
5. High Performance Alloys Market Size And Growth
6. High Performance Alloys Market Segmentation
7. High Performance Alloys Market Regional And Country Analysis
8. Asia-Pacific High Performance Alloys Market
9. China High Performance Alloys Market
10. India High Performance Alloys Market
11. Japan High Performance Alloys Market
12. Australia High Performance Alloys Market
13. Indonesia High Performance Alloys Market
14. South Korea High Performance Alloys Market
15. Western Europe High Performance Alloys Market
16. UK High Performance Alloys Market
17. Germany High Performance Alloys Market
18. France High Performance Alloys Market
19. Eastern Europe High Performance Alloys Market
20. Russia High Performance Alloys Market
21. North America High Performance Alloys Market
22. USA High Performance Alloys Market
23. South America High Performance Alloys Market
24. Brazil High Performance Alloys Market
25. Middle East High Performance Alloys Market
26. Africa High Performance Alloys Market
27. High Performance Alloys Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The High Performance Alloys Market
29. High Performance Alloys Market Future Outlook and Potential Analysis
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