High performance alloys market trends and forecast 2014-2020
September 9, 2014
A report from Transparency Market Research (TMR), based in Albany, USA, reviews the high performance alloys market in terms of volume share (kilo tons) and global sales forecast up to 2020. TMR describes high performance alloys as alloys that are designed to perform under intense conditions such as elevated temperatures (above 650C) and pressures found, for example, in aero engines, land-based gas turbines, rocket engines, and chemical and petroleum plants. Aerospace was stated to be the largest segment, accounting for 56.9% of the total high performance alloys market in 2013 followed by industrial gas turbines. (see Figure)
High performance alloys in this report are segmented as non-ferrous alloys, platinum group metal alloys, refractory alloys and superalloys. Non-ferrous alloys were said to be the largest product segment, accounting for 51% of the total market share in 2013. This was followed by superalloys which are characterised by high temperature strength, toughness, resistance to corrosive and oxidising environment, and superior phase stability.
Global demand for high performance alloys was said to stand at 1,110.7 kilo tons in 2013 and is projected to increase significantly over the next six years. Factors such as increasing demand for industrial gas turbines in power generation and growth in automotive and aerospace industries are expected to boost the high performance alloys market.
In terms of demand, North America was the leading global region in the high performance alloys market in 2013. This was followed by Europe. Asia Pacific is estimated to be the fastest growing regional market in terms of demand.
A single user license for the 94 page report is available for $4795.
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