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Corrosion Resistant Alloys - Global Market Trajectory & Analytics

  • ID: 5140870
  • Report
  • April 2021
  • Region: Global
  • 291 Pages
  • Global Industry Analysts, Inc
Global Corrosion Resistant Alloys Market to Reach $9.5 Billion by 2027

Amid the COVID-19 crisis, the global market for Corrosion Resistant Alloys estimated at US$6.4 Billion in the year 2020, is projected to reach a revised size of US$9.5 Billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027. Iron-Based Alloys, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$787.4 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nickel-Based Alloys segment is readjusted to a revised 6% CAGR for the next 7-year period.



The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 8.9% CAGR

The Corrosion Resistant Alloys market in the U.S. is estimated at US$1.7 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2027 trailing a CAGR of 8.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Cobalt-Based Alloys Segment to Record 5.4% CAGR

In the global Cobalt-Based Alloys segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$570.7 Million in the year 2020 will reach a projected size of US$800.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2027, while Latin America will expand at a 6.5% CAGR through the analysis period.

Select Competitors (Total 42 Featured):
  • Advanced Metallurgical Group NV
  • Carpenter Technology Corporation
  • Corrosion Resistant Alloys, L.P.
  • Eramet Group
  • Haynes International, Inc.
  • Nippon Steel & Sumitomo Metal Corporation
  • Nippon Yakin Kogyo Co., Ltd.
  • Special Metals Corporation
  • VDM Metals GmbH
Frequently Asked Questions about the Global Market for Corrosion Resistant Alloys

What is the estimated value of the Global Market for Corrosion Resistant Alloys?

The Global Market for Corrosion Resistant Alloys was estimated to be valued at $6.4 Billion in 2020.

What is the growth rate of the Global Market for Corrosion Resistant Alloys?

The growth rate of the Global Market for Corrosion Resistant Alloys is 5.8%, with an estimated value of $9.5 Billion by 2027.

What is the forecasted size of the Global Market for Corrosion Resistant Alloys?

The Global Market for Corrosion Resistant Alloys is estimated to be worth $9.5 Billion by 2027.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • Impact of Covid-19 and a Looming Global Recession

III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 42
Note: Product cover images may vary from those shown