DUBLIN, December 3, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/zn36nf/high_performance) has announced the addition of the "High Performance Alloys Market by Alloy Type, by Product Type, by Alloying Element, by Application, & Geography - Global Forecast to 2020"report to their offering.
The global market for high performance alloys is projected to grow at a CAGR of 4.34% from 2015 to 2020 and is projected to reach USD 9,698.35 Million by 2020
The high performance alloys market has varied applications such as aerospace, industrial, automotive, oil & gas, electronics & electrical, and others. The aerospace segment accounted for around 54% of the global high performance alloys market in 2014. The industrial segment is expected to grow due to increase in demand from emerging economies. The automotive segment is also one of the major end users of the high performance alloys market and is expected to witness considerable growth.
The increase in demand for innovative and sustainable metals that are lightweight, corrosion resistant with good strength has led to the growth of the high performance alloys market. Growing demand for value-added products has resulted in the increase in the demand for high performance alloys. The growing preference for high performance alloys is also due to sustainable and innovative smelting, mining, mineral recovery, and recycling technology that the industry instills in its production methods, which is expected to drive this market.
The market for high performance alloys is observed to be ever increasing in developing economies such as the Asia-Pacific region. The reason behind this is the increased industrialization and improved standard of living in this region. The Asia-Pacific market for high performance alloys is projected to grow at the highest CAGR of 5.15% during the forecast period, in terms of value. It accounted for a market share of 19% in 2014. The North American region accounted for the largest market share for high performance alloys from 2015 to 2020. .
The high performance alloys market will be driven by the demand from the end-user industry and technological advancements. The development of economies plays an essential role in fueling the demand for high performance alloys in the global market. The key parameters that determine the growth of the high performance alloys in developing economies are increase in consumption and demand for value-added and sustainable products.
Scope of the Report
On the basis of product type, the high performance alloys market has been segmented as follows:
- Non-ferrous alloys
- Refractory alloys
- Others (hastelloy, inconel, waspaloy, rene alloys, haynes alloys, incoloy, MP98T, TMS alloys, CMSX single crystal alloys, platinum alloys)
On the basis of alloy type, the high performance alloys market has been segmented as follows:
- Wrought alloy
- Cast alloy
On the basis of alloying element, the high performance alloys market has been segmented as follows:
- Others (nickel, cobalt, molybdenum)
On the basis of application, the high performance alloys market has been segmented as follows:
- Oil & gas
- Electronics & electrical
- Others (military and marine)
- Alcoa Inc.
- Allegheny Technologies Incorporated
- Aperam Sa
- Carpenter Technology
- Haynes International Inc.
- Hitachi Metals Ltd.
- Precision Castparts Corp.
- Timken Company
- Vsmpo-Avisma Corporation
For more information visit http://www.researchandmarkets.com/research/zn36nf/high_performance
About Research and Markets:
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
SOURCE Research and Markets