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High Performance Alloys - Global Market Trajectory & Analytics

  • ID: 347935
  • Report
  • June 2021
  • Region: Global
  • 323 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Aperam S.A.
  • Doncasters Group Limited
  • Glencore Plc
  • Hitachi Metals, Ltd.
  • Precision Castparts Corp.
  • TimkenSteel Corporation
  • MORE

Global High Performance Alloys Market to Reach $9.8 Billion by 2026


Superalloys, or high performance alloys (HPAs), typically refer to a complex metallurgical blend of usually three or more VIIA elements developed for performing at elevated temperatures and in harsh operating conditions where high surface stability and mechanical strength are required. Non-ferrous alloys comprising titanium and aluminum are used in a broad range of applications including gas turbines and aerospace due to their superior mechanical properties. Post pandemic growth in the market will be driven by demand momentum for lightweight, high performance materials in various applications in the aerospace, automotive, oil & gas, construction, energy generation, among others. Another important growth driver will be the substitution of metals including steel by aluminum- and titanium-based high-performance alloys supported by their increasing use in the manufacture of rocket and aircraft engines; in the automotive sector due to their contribution towards significant weight reduction; and in oil & gas exploration applications due to their capabilities to withstand high-pressure and high-temperature conditions. The market will also witness growth due to increasing activities of titanium extraction and magnesium mining leading to high availability of these elements, which are used as raw materials for the manufacture of high performance alloys.

Amid the COVID-19 crisis, the global market for High Performance Alloys estimated at US$7.4 Billion in the year 2020, is projected to reach a revised size of US$9.8 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Non-Ferrous Metal, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$5.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Super Alloys segment is readjusted to a revised 4.3% CAGR for the next 7-year period. This segment currently accounts for a 30.9% share of the global High Performance Alloys market. Demand will be driven by industrial and aerospace applications due to the ability of non-ferrous alloys to withstand high pressure and temperature. The demand for super alloys is expected to be driven by their attractive properties such as strength at high temperature, toughness, and resistance to oxidizing and corrosive environments. Market demand for super alloys will be fueled by their increasing use in oil & gas industries, chemical/petrochemical processing, and power plants.

The U.S. Market is Estimated at $1.9 Billion in 2021, While China is Forecast to Reach $1.6 Billion by 2026


The High Performance Alloys market in the U.S. is estimated at US$1.9 Billion in the year 2021. The country currently accounts for a 25.35% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.6 Billion in the year 2026 trailing a CAGR of 6.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$1.8 Billion by the end of the analysis period. In the post-COVID-19 scenario, anticipated resurgence in core end-use sectors especially in the developing Asia-Pacific and Latin America nations, would renew the demand for machine tools in various end-use sectors, thus creating growth opportunities for high performance alloys. Europe is also anticipated to post steady growth in the post pandemic period due to the expected increase in the use of high performance materials in the automotive industry.

Refractory Segment to Reach $1.3 Billion by 2026


In the global Refractory segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$805.8 Million in the year 2020 will reach a projected size of US$1 Billion 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$124.7 Million by the year 2026.

Select Competitors (Total 110 Featured) -

  • Allegheny Technologies Incorporated
  • AMG Advanced Metallurgical Group N.V.
  • Aperam S.A.
  • Carpenter Technology Corporation
  • Constellium SE
  • Doncasters Group Limited
  • ERAMET S.A.
  • Fort Wayne Metals Research Products Corp.
  • Glencore Plc
  • H.C. Starck GmbH
  • Haynes International, Inc.
  • High Performance Alloys, Inc.
  • Hitachi Metals, Ltd.
  • Howmet International Inc.
  • Metallurgical Plant Electrostal, JSC
  • Nippon Yakin Kogyo Co., Ltd.
  • Precision Castparts Corp.
  • Sandvik AB
  • Special Metals Corporation
  • TimkenSteel Corporation
  • Titanium Metals Corporation (TIMET)
  • Universal Stainless & Alloys Inc.
  • VDM Metals GmbH
  • VSMPO-AVISMA Corporation
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Aperam S.A.
  • Doncasters Group Limited
  • Glencore Plc
  • Hitachi Metals, Ltd.
  • Precision Castparts Corp.
  • TimkenSteel Corporation
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Why Investing in Materials Innovation is Vital for Countries & Their Economy
  • HPAs: Here's Why They Are the Advanced Material of Choice for Corrosion Resistance & Versatility
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
  • These are Times When Questions Abound & Answers Are Few
  • So How Fast Or Slow Are We Moving?
  • Exhibit 1: How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • As India Burns Amid a Lethal Double & Triple Mutation Driven Second Wave, Its Clear That Equity is Not a Part of Global Policy on Tackling COVID
  • Exhibit 2: What We Know So Far - “Vaccine Efficiency Against New Strains is Decreasing”
  • Progress on Vaccinations, Why Should Businesses Care?
  • With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback
  • Exhibit 3: A Strong 2021 Economic Rebound Based On Pent-Up Demand Comes as a Relief for Suffering Industries & Markets: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Exhibit 4: Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022
  • A Retrospective Review of Year 2020 as the Worst Year in Humanity's History that Left the World in Shambles & Industries and Markets Upended
  • How Major End-Use Markets Are Impacted by the Pandemic & What's the New Normal?
  • Automotive End-Use Industry
  • Exhibit 5: Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Manufacturing & Machinery End-Use Industry
  • Exhibit 6: Global Machine Tools Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Aerospace Manufacturing End-Use Sector
  • Exhibit 7: Global Aerospace & Aviation Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Oil & Gas End-Use Sector
  • Exhibit 8: Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
  • COVID-19 Pain in Oil Production to Spill Over Into 2021
  • Energy End-Use Sector
  • Exhibit 9: Global Energy Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Here's How the Post Pandemic Market Will Look Like
  • High Performance Alloys: A Review of Types, Benefits & End-Use Applications
  • Recent Market Activity
  • Innovations
  • World Brands
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Rise of Lightweighting as a Part of the Long-Term Manufacturing Strategy to Benefit HPA Demand
  • A Review of Lightweighting in Aerospace Manufacturing
  • Exhibit 10: New Generation Aircraft Fleet Will be Lightweight, Strengthening the Business Case for Light Alloys: Global Fleet of Commercial Aircraft in 2036 by Region (in Units)
  • A Review of Lightweighting in Automobile Manufacturing
  • Stringent Regulations & Competitive Pressures Prompt Automakers to Focus on Specialty Alloys
  • Expanding Industrial Applications for Titanium Based Alloys to Continue Post Pandemic
  • Exhibit 11: Global Titanium Market by End-use Sector (2022): Percentage Breakdown of Volume Consumption for Aerospace, Defense, Industrial, and Others
  • Here's Why Nickel Alloys Hold a Stronger Potential for Long-Term Growth
  • Opportunities in the Medical Devices Sector to Gain Momentum
  • Newer Applications to Drive Gains Over the Long-Term
  • Projected Rebound in Oil Production Post COVID-19 in 2022 to Positively Impact Demand for HPAs
  • Expected Recovery in the Construction Industry to Revive Demand for HPAs in 2021 & Beyond
  • Exhibit 12: Global Construction Spending (In US$ Trillion) for the Years 2019, 2020, & 2021
  • Forced Investments in Upgrading the Creaking Energy Infrastructure, Post Pandemic to Drive Demand for HPAs in Industrial Gas Turbines (IGT)
  • Turbine Applications Posed for Steady Growth, Post Pandemic
  • Use of AI in the Design of High Performance Alloys Gains Momentum
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES
  • HPAs Market in the US: An Overview
  • Market Analysis
CANADA

JAPAN
  • Continued Focus on Innovations to Drive Gains in the Post Pandemic Period
  • Market Analysis
CHINA
  • China Remains a Prominent Manufacturing Hub Globally
  • Market Analysis
EUROPE
  • A Market Primer
  • Technology Trends at a Glance
  • Market Analysis
FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

LATIN AMERICA

REST OF WORLD

IV. COMPETITION
  • Total Companies Profiled: 110
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Allegheny Technologies Incorporated
  • AMG Advanced Metallurgical Group N.V.
  • Aperam S.A.
  • Carpenter Technology Corporation
  • Constellium SE
  • Doncasters Group Limited
  • ERAMET S.A.
  • Fort Wayne Metals Research Products Corp.
  • Glencore Plc
  • H.C. Starck GmbH
  • Haynes International, Inc.
  • High Performance Alloys, Inc.
  • Hitachi Metals, Ltd.
  • Howmet International Inc.
  • Metallurgical Plant Electrostal, JSC
  • Nippon Yakin Kogyo Co., Ltd.
  • Precision Castparts Corp.
  • Sandvik AB
  • Special Metals Corporation
  • TimkenSteel Corporation
  • Titanium Metals Corporation (TIMET)
  • Universal Stainless & Alloys Inc.
  • VDM Metals GmbH
  • VSMPO-AVISMA Corporation
Note: Product cover images may vary from those shown
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