Robust Demand in End-Use Sectors Drives the Global High Performance Alloys Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) July 24, 2014 -- Follow us on LinkedIn – High performance alloys (HPA), also known as superalloys, are highly customized solutions that function in the most demanding environments in several application sectors. Superalloys comprise high-end nickel, nickel-iron, cobalt, and titanium based alloys, among others. In the aerospace industry, superalloys are used as lightweight and high-strength materials for the construction of large engines and planes. Superalloys also provide high corrosion resistance in desalination plants and high temperature power plans. These alloys are also used in sour well exploration and as shafts for deep off-shore drilling in the oil and gas industry due to their high strength. In the automotive industry, high performance alloys are used in emission control systems, downsized engines, and turbochargers, among others. They are also used as high temperature metals in solar power plants and in electrical and electronics industries.
Demand for superalloys is dependent on the health of the various end-use sectors. The market therefore declined during the 2007-2009 recession period as a result of the complete meltdown of the construction and automotive industries in developed countries. Industrial grade high performance alloys also suffered a setback as reductions in industrial output, credit shortages, and tight liquidity impacted CAPEX and OPEX in manufacturing and process industries. The market nevertheless recovered in the succeeding years supported by resurgence in growth fundamentals such as general improvement in global economy, rise in corporate budgets, improvement in business confidence index, recovering automobiles production, steady rise in construction activity, increase in demand for manufactured goods, and subsequent rise in manufacturing activity.
Future growth in the market will be driven by the superior attributes of high performance alloys in terms of high strength and toughness, good weldability, long-lasting durability, excellent corrosion and oxidation resistance, elevated temperature properties, high strength-to-weight ratios, and fatigue properties, among others. Continued advancements in production and processing technologies in the industrial sector are expected to contribute significantly to market adoption of high performance alloys in the coming years. Viable techniques are developed for forming, shaping, machining, and finishing materials that were hitherto considered difficult to fabricate and shape. Relentless improvements in metal manufacturing techniques such as powder metallurgy technique for alloys and sintering techniques such as hot isostatic pressing is also expected to bode well for market expansion. Driven by the persistent and rapid growth in advanced technologies, overall standards of fabrication in the industry are undergoing substantial improvements resulting in increased demand for finished products made from superalloys. The rising trend in the transportation industry to make vehicles lighter in order to improve fuel-efficiency is also expected to offer significant growth opportunities for lightweight alloys.
As stated by the new market research report on High Performance Alloys, Europe represents the largest market worldwide, followed by the United States. Asia-Pacific ranks as the fastest growing regional market with a CAGR of 5.8% over the analysis period. Phenomenal progress in infrastructure projects, wide-scale commercial and residential construction projects, steady economic development, rapid industrialization, rising levels of urbanization, increasing automotive production in response to robust demand for passenger cars, and continued strengthening of manufacturing activity in China, India, Taiwan, Singapore, Korea and Indonesia represent key growth drivers in the region.
Key players covered in the report include Advanced Metallurgical Group N.V., Alcoa Howmet Castings, Allegheny Technologies Incorporated, Aperam Group, Carpenter Technology Corporation, Doncasters Group Limited, Eramet Group, Glencore Plc., Haynes International Inc., H.C. Starck GmbH, High Performance Alloys Inc., JSC VSMPO-AVISMA Corp., Olin Brass Corporation, Precision Castparts Corp., Titanium Metals Corporation, Special Metals Corporation, QuesTek Innovations, LLC, RTI International Metals, and VDM Metals, among others.
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, growth drivers, issues, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections in metric tons for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America and Rest of World. Product segments analyzed in the report include Nickel, Cobalt, and Titanium. End-use sectors analyzed in the report include Gas Turbines (Electrical & Mechanical), Industrial, Aerospace, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/High_Performance_Alloys_Superalloys_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
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