Increase in automotive production along with surging demand from the oil & gas industry is expected to drive the growth of the high performance alloys market.

HYDERABAD, TELANGANA, INDIA, September 5, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the high performance alloys market size is forecasted to grow at a CAGR of 4.1% during the forecast period 2022-2027 and reach US$12.2 billion by 2027. However, a steady recovery in development activities from multiple industries has been witnessed across the world since 2021, which in turn, is driving the demand for high-performance alloys. An increase in automotive production along with the surging demand from the oil & gas industry is expected to drive the growth of the high performance alloys market size in the upcoming years. On the other hand, fluctuating prices of raw materials may confine the growth of the market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Key Takeaways:

This IndustryARC report on the high performance alloys market highlights the following areas -

1. The non ferrous metal segment held a significant share in the High Performance Alloys Market in 2021. Its wide range of characteristics and excellent corrosion resistance made it stand out in comparison to other types of materials in the market.

2. Aerospace industry held the largest share in the High Performance Alloys Market in 2021, owing to the increasing demand for high-performance alloys from the aerospace sectors due to its high mechanical strength, along with excellent resistance to wear, temperature and corrosion.

3. North America dominated the High Performance Alloys Market in 2021, owing to its increasing demand from the aerospace sectors in the region.

4. A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the High Performance Alloys Market Report.


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Segmental Analysis:

1. The non ferrous metal segment held a significant High Performance Alloys Market share in 2021, owing to its increasing demand due to the benefits it offers over other types of materials. For instance, non ferrous metal such as aluminum, nickel and more are more durable and offers superior tensile strength in comparison to precious metals, refractory materials and other types of materials.Furthermore, non ferrous metal such as aluminum is lightweight, highly flexible and cost-effective as opposed to other types of materials. Hence, all of these benefits are driving its demand over other types of materials, which in turn, is expected to boost the market growth during the forecast period.

2. The aerospace industry held the largest High Performance Alloys Market share of over 25% in 2021, owing to its increasing demand from the aerospace sectors across the world. High-performance alloys are primarily used in aircraft engines, instrumentation, radio communication equipment, wire-wound potentiometers and other similar applications, owing to their lightweight, high strength and excellent resistance to temperature, wear and corrosion.

3. Surging aircraft production is expected to increase the demand for high performance alloys for use in aircraft engines, instrumentation, radio communication equipment and more, owing to its above-mentioned benefits. This is expected to expand the high performance alloys market size during the forecast period.

4. North America held a dominant High Performance Alloys Market share of around 34% in the year 2021. The consumption of high performance alloys are particularly high in this region due to its increasing demand from the aerospace sector.


Competitive Landscape:

The top 5 players in the high performance alloys industry are -

1. Aperam SA

2. Alcoa Inc.

3. Allegheny Technologies Incorporated

4. Carpenter Technology

5. Haynes International Inc.


Click on the following link to buy the high performance alloys Market Report:
https://www.industryarc.com/reports/request-quote?id=15512


Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.


Similar Reports:

A. Silicon Alloys Market
https://www.industryarc.com/Research/Silicon-Alloys-Market-Research-510836

B. Nickel Alloys Market
https://www.industryarc.com/Research/Nickel-Alloys-Market-Research-502906


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