Global Specialty Alloys Market (Value, Volume) - Analysis By Alloy Type, End-User, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)
NEW YORK, July 1, 2020 /PRNewswire/ --
Executive Summary
The Global Specialty Alloys Market, a niche segment of the alloy steel market, valued at USD 21.92 billion and 319.04 thousand tonnes by volume in the year 2019 has been witnessing unprecedented growth. The growing demand for light materials in the aerospace industry coupled with high demand for new generation aircrafts is expected to drive the market growth over the forecast period. Specialty alloys are indispensable materials in the manufacture of parts for highly sensitive devices and apparatus, unique experimental and miniature equipment, various types of sensors, and power transformers. Moreover, increasing usage in power generation for the production of industrial gas turbine components is likely to boost the demand. But in the current year 2020, due to Covid-19 pandemic, the market for the specialties alloys has suffered sizeable impact with mis-alignment of supply and demand. In the meantime, metals companies are shoring up cash liquidity and looking to short-term borrowing to help cover operating costs. And with the acquisition of VDM Metals by Acerinox, the market of specialty alloys has moderately consolidated.
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Among the Alloy Type segment in the Specialty Alloys market (Corrosion Resistance, High Performance, Heat Resistant and Electric Alloys), High Performance segment has been gaining popularity among other segments and is expected to keep major market share in the forecast period. The growing demand for light materials in the aerospace industry coupled with high demand for new generation aircrafts is expected to drive the market growth over the forecast period. The high-performance alloys are widely used in extreme environments where tremendous heat and corrosion resistance is paramount to the integrity of the end product.
Based on End-User (Aerospace, Oil & Gas, Chemical Processing, Electric Components & Electronics, Automotive and Others), Aerospace Segment dominates the market share in year 2019 and is also expected to show dominance during the forecast period. The aerospace industry is a major market for specialty alloys wherein alloys are majorly used for high-temperature applications.
The North American market held the largest share of the global market owing to the wide base of the aerospace & defence industry in the US and presence of key manufacturers of aircraft engines, aerospace jet engines, and industrial gas turbines in the region. In addition, the US government's focus on expanding the country's defence sector through high investments is further expected to support the demand for specialty alloys over the next few years.
Scope of the Report
• The report analyses the Specialty Alloys market By Value and By Volume.
• The report analyses the Specialty Alloys market by Alloy Type (Corrosion Resistance, High Performance, Heat Resistant, Electric Alloys).
• The report assesses the Specialty Alloys market by End-User (Aerospace, Oil & Gas, Chemical Processing, Electric Components & Electronics, Automotive, Others).
• The Global Specialty Alloys Market has been analysed by Region (North America, Europe, Asia Pacific) and by Country (USA, Canada, Germany, Italy, France, United Kingdom, Spain, China, India, Japan).
• Also, the attractiveness of the market has been presented by region, alloy type and end-user. Also, trends, drivers, challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, recent industry developments and mergers & acquisitions. The companies analysed in the report include VDM Metals Group, Precision Castparts, ATI - Allegheny Technologies Incorporated, Aperam, Carpenter Technology Corporation, ThyssenKrupp, AMG Aluminum UK Limited, AMETEK Specialty Metal Products, MetalTek International and Materion Corporation.
• The report presents the analysis of Specialty Alloys market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
• Specialty Alloy Vendors
• Chemical Companies
• Consulting and Advisory Firms
• Government and Policy Makers
• Investment Banks and Equity Firms
• Regulatory Authorities
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