High Performance Alloys: A Global Strategic Business Report
San Jose, California (PRWEB) October 10, 2012
Follow us on LinkedIn – Demand for high performance alloys is forecast to remain stable in the upcoming years based on its usage in a broad gamut of applications ranging from engineering structures, heavy equipments to components for aircrafts, motor vehicles, and consumer electronics. The low density and high strength characteristics of these materials make them an ideal choice in sectors ranging from industrial to medical applications. Industries such as consumer appliances, manufacturing, and transportation have over the years fanned growth of the market and the emergence of newer applications in medical, energy generation, and oil and gas exploration industries will help drive future growth. Growth will also be driven by technology innovations compelled by end-user demand for sequentially higher strength materials with lower weight, longer life and superior functional capabilities such as, resistance to extreme temperatures and corrosion, among others. For instance, corrosion resistance has become the buzzword in a wide range of industries and corrosion-resistant alloys, such as, are nickel-based alloys, titanium alloys and more versatile alloys based on stainless steel grades, are gaining prominence.
The automotive industry, in particular, is driving demand for lightweight alloys, given the growing OEMs focus on producing more eco-friendly and fuel-efficient vehicles. In this regard, demand for aluminium alloys in the manufacture of automotive parts and components are poised to grow robustly. The potential offered by the increasing use of aluminium in vehicle production can be put into perspective by the automotive industry’s futuristic vision of manufacturing aluminium cars which are believed to be 28% lighter than their conventional counterparts. With strict fuel efficiency and emission norms being legislated by Governments worldwide, the automotive industry’s future lies in aluminium.
Additionally, the focus on generating clean energy and the carbon caps imposed on conventional power generation plants using coal, nuclear power and lignite, is helping drive growth for new alloy materials capable of aiding in generating clean energy. Therefore green energy generation will drive demand for titanium alloys, nickel alloys, and specialty alloys, used in pollution control systems, such as flue gas desulfurization (FGD) units, wet electrostatic precipitators (WESP), carbon capture absorbers, and in turbines. The focus on clean energy and the ensuing increase in investments in nuclear power and renewable energy sources like solar & wind energy will generate demand for heat or corrosion resistant alloys for use in solar panels, wind turbines, turbine blades, high temperature solid oxide fuel cells, and containers for nuclear/radioactive waste, among others.
The metal industry was acutely impacted during the 2007-2009 recession largely as a result of the complete meltdown of the construction industry in the developed countries. Structural applications of high-performance alloys was especially roughed up against a backdrop of cancellation, postponement, and general weakness in new office, commercial and residential building projects and declines in infrastructure investment. The fall of the automotive industry also impacted demand for high-performance alloys in this sector where it is used widely in the manufacture of vehicle exhaust systems, ignition components and other electrical and electronic system components. Industrial grade high performance alloys also suffered a setback with reductions in industrial output, credit shortages, and tight liquidity impacting CAPEX and OPEX in manufacturing and process industries. Demand for environmental engineering metallic alloys was also impacted with energy and environmental engineering industries bucking under the recessionary pressure. The market in the year 2010, however, posted a smart recovery encouraged largely by the resurgence in growth driving market fundamentals, such as, improvement in the macroeconomic environment, greater consumer confidence, recovery in consumer spends, and increased investments on infrastructure projects.
The outlook for Europe remains overshadowed by the economic drag exerted by the deleveraging process underway in the region’s private, public and financial sector. Also, the anti-crisis austerity and spending cuts as a measure to tame towering public debts and reduce the gross debt-to-GDP ratio is impacting capital expenditure in manufacturing industries in debt affected economies by limiting borrowing and reducing investments in capital goods. The automobile end-use industry, for instance, has been losing ground more rapidly than other manufacturing sectors. All of these factors are causing demand for high performance alloys in the region to lose steam.
As stated by the new market research report on High Performance Alloys, the US continues to remain the largest regional market. Asia-Pacific represents the fastest growing market over the analysis period. By product, non-ferrous alloys represents the largest segment accounting for a lion’s share of the market pie.
Leading global players operating in the market include Advanced Metallurgical Group N.V., KB Alloys LLC, African Rainbow Minerals Limited, Alcoa Inc., Alcoa Howmet Castings, Allegheny Technologies Incorporated, ATI Allvac Incorporated, Areva Group, BASF Catalysts LLC., Carpenter Technology Corporation, Group of Companies Precious Metals Of Urals, Eramet Group, Haynes International Inc., H.C. Starck GmbH., High Performance Alloys Inc., Luxfer Group, Magnesium Elektron Incorporated, Olin Brass Corporation, MAGONTEC Limited, Precision Castparts Corp., Special Metals Corporation, Rio Tinto Alcan, Rolled Alloys Inc., United Company RUSAL Plc., ThyssenKrupp VDM GmbH, Titanium Metals Corporation (TIMET), W.C. Heraeus GmbH & Co., KG, and Xstrata Alloys.
The research report titled “High Performance Alloys: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in volume sales for the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Middle East & Africa and Latin American markets. Product segments analyzed include Non-Ferrous Alloys (Aluminum, Magnesium, Titanium and Zirconium); Refractory Metals Alloys (Molybdenum, Tungsten, Columbium and Tantalum); Platinum Group Metals (Platinum, Palladium, Rhodium, Ruthenium and Iridium); and Special Alloys & Superalloys.
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