The global High Performance Alloys Market is expected to grow substantially in the years to come. The growth is estimated on the basis of an ever-increasing demand for alloys in verticals like thermal processing, oil & gas extraction, and petroleum. The latest demand comes from aerospace industry wherein light materials are required.
The market is segmented by product, material, application, and geography. By product, the segmentation spans platinum group, super alloys, refractory, and non-ferrous metal. By material, the segmentation goes like magnesium, titanium, aluminum, and others. By application, the market comprises aerospace, electrical & electronics, oil & gas, automotive, industrial, industrial gas turbine and others.
By geography, the segmentation consists of North America (Mexico, Canada, and U.S.), Europe (France, Russia, UK, and Germany), Asia Pacific (Japan, India, and China), Central America & LATAM (Argentina and Brazil), and MEA (South Africa).
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North America rules the market due to ongoing developments in aluminum and magnesium mining coupled with growing extraction of metals used to produce alloys. Plus, technological advancements with respect to processing techniques of high performance alloys are expected to impact the market on the positive note. Asia pacific is expected to grow at the fastest pace due to growing aerospace industry.
At the same time, the high performance alloy market is subject to initial high cost along with stringent regulations regarding mining and extraction. A trend catching up right now is usage of recycled materials to produce these alloys. Aerospace industry asks for titanium-based alloys; which would bolster the market for titanium in the near future. At present Aluminum is riding high. In terms of products, super alloys dominate the market. Chromium is another material in demand as it provides resistance against corrosion or oxidation.
The players contributing to the high performance alloys market include Outokumpu, RTI International Metals, ThyssenKrupp AG, VSMPO-Avisma Corporation, Aperam SA, Timken Company, precision Castparts Corp., Carpenter Technology Corporation, Hitachi Metals and Alcoa.
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Leading players of High Performance Alloys including:
• Precision Castparts Corporation
• Allegheny Technologies Limited
• Carpenter Technology Corporation
• Haynes International
• Eramet Group
• Sumitomo Metal Industries
• Nippon Yakin Kogyo
• High Performance Alloys
• Hitachi Metals
• Olin Brass
• QuesTek Innovations
• Doncasters Group
• BAO TI GROUP
• Fushun Special Steel
Market split by Type, can be divided into:
Market split by Application, can be divided into:
• IGT (electricity)
• IGT (mechanical)
• Oil & Gas
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/advanced-materials
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