Composites and Advanced Materials

According to a market report by Lucintel, the future of the high performance alloy market looks promising with opportunities in the aerospace, industrial gas turbine, industrial, automotive, oil & gas, and electrical & electronic sectors. The global high performance alloy market is expected to reach an estimated $9.5 billion by 2028 with a CAGR of 5% from 2023 to 2028. The major drivers for this market are extensive use of alloy in oil & gas extraction, thermal processing, and petroleum industry and increasing demand for lightweight materials in the automotive and aerospace industries.



In this market, non-ferrous metal, platinum group, refractory, and super alloy are the major segments by product. Lucintel forecasts that non-ferrous metals will remain the largest segment over the forecast period as these materials are more durable and deliver excellent tensile strength as compared to other materials. Non-ferrous metals are widely used in the automotive industry to reduce a vehicle’s weight and increase its fuel efficiency.



Within this market, aerospace is expected to remain the largest segment due to the growing demand for military, commercial, and cargo aircraft, globally. 



APAC will remain the largest region due to the increasing production of automobiles and aerospace in the region.

Alcoa, Precision Castparts, Outokumpu, Hitachi Metals, and Aperam SA are the major suppliers in the global high performance alloy market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global high performance alloy market by product, material, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global High Performance Alloy Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global high performance alloy market by product, material, application, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the high performance alloy market by product (non-ferrous metals, platinum group, refractory, and super alloys), material (aluminum, titanium, magnesium, and others), application (aerospace, industrial gas turbines, industrial, automotive, oil & gas, electrical & electronics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?