Aerospace High-Performance Alloys Market Size is anticipated to reach USD 136.02 Billion by 2027, registering a CAGR of 7 % during 2020-2027.
The global Aerospace High-Performance Alloys Market Size is growing with the rapid pace. According to a recent study report published by the Market Research Future, the global market of aerospace High Performance Alloys will grow at a rapid pace over the forecast period.
The high demand for high performance alloys market is due to the growth in the aircraft component. Many aircraft manufacturers have setup the aerospace high performance alloys centres in numerous countries in recent years. This increases the participation of regional companies in the field of aerospace high-performance alloys market. Moreover, the growing demand for aerospace high performance alloys equipment’s that satisfy the need for lightweight alloys and reduce aircraft weight. The growth in aircraft components industry are estimated to gain higher popularity during the forecast period.
However, the issues related to its high cost associated with high performance alloys, and manufacturing & machining complexities acts as a barrier for the growth of market.
The aerospace additive manufacturing market size is completely dependent on the material technology in aircraft industry. Thus, the increasing or decreasing demand of the emerging material technology directly has an impact on the market. Moreover, factor responsible for the growth of market are need for lightweight alloys to aircraft weight reduction, usage of high-performance alloys in jet engine, and high corrosion resistance of HPAs.
This is the primary factor that drives the growth of the market and has gained prevalence in the recent times, with usage of best-in-class technologies in aircraft. Thus, the growth of the market is expected to go hand in hand with the growth of investment in aircraft industry.
The global Aerospace High-Performance Alloys Market Size key players are Outokumpu (Finland), NBM Metals (US), ThyssenKrupp (Germany), High-Performance Alloys Inc (US), Haynes International (US), Alcoa (US), VSMPO (US), Aperam (Germany), Precision Castparts (US), Allegheny Technologies (US), Carpenter Technology (US)
The global aerospace High-Performance Alloys market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding.
Segmentation by Alloy Type: Comprises Wrought and Cast
Segmentation by Product Type: Comprises Iron Base, Cobalt Base and Nickel Base
Segmentation by Alloying Element: Comprises Aluminium, Titanium and Magnesium
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
North America aerospace additive manufacturing market outlook is dominating the market due to high consumption of high-performance alloys. The market in the developed countries is largely driven by growing demand for light-weight components, which helps in growth of aerospace high-performance alloys market.
Asia Pacific is referred to as the second-largest market due to factors such as increased production of aircraft has fuelled the demand for aerospace high-performance alloys market size.
Industry Related News:
March 2018 – Allegheny Technologies announced joint venture (JV) with an affiliate company of Tsingshan Group to produce 60-inch-wide stainless sheet products for sale in North America.
June 2017 – Carpenter Technology Corporation and Samuel Son & Corporation announced a strategic alliance between the two companies to provide end-to-end supply chain solutions for the additive manufacturing marketplace.
Global High Performance Alloys Market, 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 - Forecast till 2030
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