Rising Demand for Minimally Invasive Surgeries Projected to Create Significant Opportunities

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Dublin, September 9, 2022 (GLOBE NEWSWIRE) — The “High Performance Alloys Market by Material Type, by Product Type, by Alloy Type, by Application, and by Region Forecast to 2030” Report has been added to ResearchAndMarkets.com offering.

The global high performance alloys market size is expected to reach USD 15.64 billion in 2030 and register a CAGR of revenue of 5.3% during the forecast period, according to the latest report. The demand for high-performance alloys has been steadily increasing due to their increased adoption in various end-use industries, such as aerospace and defense, power generation, and oil and gas, among others. The aerospace industry is one of the main consumers of these alloys due to the need for materials with higher hardness and resistance to heat and wear.

Increased demand for high performance alloys from the power generation industry is also expected to drive market growth during the forecast period. These materials are used in power plants for boiler tubes, heat exchangers, and other components that are exposed to high temperatures and pressures. The oil and gas industry is another major consumer of these alloys due to the need for materials that can withstand the harsh operating conditions in this sector.

Increasing demand for lightweight, corrosion-resistant, and strong materials in the automotive and aerospace industries is anticipated to drive the growth of the high-performance alloys market.

High performance alloys are widely used in jet engines, gas turbines and other critical applications in the aerospace industry. Increasing demand for aircraft from the commercial and military sectors is anticipated to drive the growth of the market during the forecast period. Additionally, the lightweight and corrosion resistant properties of high performance alloys make them ideal for use in medical devices and implants. The growing demand for minimally invasive surgeries is anticipated to create significant opportunities for market players in the coming years.

The development of such alloys is highly dependent on advances in the field of materials science and engineering. As a result, the market for high performance alloys is growing at a significant rate globally. High performance alloys are those capable of withstanding extreme conditions such as high temperatures, corrosive environments or mechanical stress. These alloys are often used in aerospace, chemical processing, and power generation applications.

Some key highlights from the report

  • The titanium segment is expected to record a rapid revenue growth rate during the forecast period due to the high specific strength and corrosion resistance of titanium alloys. Titanium alloys are widely used in the defense, aerospace, medical, and oil and gas industries due to their excellent mechanical properties.

  • The aluminum segment is expected to grow at a significant rate during the forecast period due to its increasing demand from various end-use industries such as automotive, transportation, and aerospace. Aluminum alloys have a high strength-to-weight ratio, making them suitable for various applications where weight reduction is required.

  • The nickel-based segment is expected to hold the largest market share during the forecast period due to its superior mechanical properties such as high tensile strength, creep resistance, and corrosion resistance. Nickel-based alloys are widely used in the aerospace and power generation industries.

  • The stainless steel segment is expected to grow at a rapid rate during the forecast period due to its superior corrosion resistance property. Stainless steels are widely used in the food and beverage, medical, and construction industries.

For the purposes of this report, the publisher has segmented the global high performance alloys market based on material type, product type, alloy type, application, and region:
Material Type Outlook (Revenue, Billion USD; 2019-2030)

  • Aluminum

  • Titanium

  • Magnesium

  • Nickel

  • Steel

  • Others

Product Type Outlook (Revenue, Billion USD; 2019-2030)

  • Non-ferrous

  • platinum group metals

  • Refractory

  • superalloys

Alloy Type Outlook (Revenue, Billion USD; 2019-2030)

App Outlook (Revenue, Billions of Dollars; 2019-2030)

  • Aerospace

  • Automotive

  • Industrial

  • petroleum gas

  • Electricity and electronic

  • industrial gas turbines

  • Others

regional overview

Key Topics Covered:

Chapter 1. Market Overview

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4 High Performance Alloys Market Segmentation and Impact Analysis

Chapter 5 High Performance Alloys Market By Material Type Insights & Trends

Chapter 6 High Performance Alloys Market By Product Type Outlook And Trends

Chapter 7 High Performance Alloys Market By Alloy Type Outlook And Trends

Chapter 8 High Performance Alloys Market by Application Insights & Trends

Chapter 9 High Performance Alloys Market Regional Outlook

Chapter 10. Competitive Landscape

Chapter 11. Company Profiles

Companies mentioned

  • Embedded Allegheny Technologies

  • Carpenter Technology Corporation

  • Haynes International Inc.

  • Hitachi Metals Ltd.

  • Outokumpu Oyj

  • Precision Castparts Corp.

  • The Timken Company

  • VSMPO-AVISMA Corporation

  • Nippon Yakin Kogyo Co. Ltd.

  • Matter Corporation

For more information on this report, visit https://www.researchandmarkets.com/r/ol1nj5

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