Aerospace applications dominated the high performance alloys market.
Aerospace applications dominated the high performance alloys market.

In terms of volume, global high performance alloys market stood at 1,110.7 kilo tons in 2013.

High performance alloys exhibit excellent mechanical strength and high resistance to creep at high temperatures. About 60% of an aircraft is incorporated with high performance alloys. Thus, increasing demand for high performance alloys from the aerospace industry is estimated to boost the high performance alloys market during the forecast period. Furthermore, rising demand for gas turbines in power generation applications is projected to drive demand for high performance alloys, as gas turbines require materials that withstand elevated temperatures. However, capital-intensive manufacturing of high performance alloys may hamper the market in the next few years. Furthermore, development of high strength and lightweight high performance alloys may open up new avenues for market growth.
 
Non-ferrous alloys including titanium and aluminium accounted for 51% of the total market in 2013. Demand for non-ferrous alloys is likely to increase in the next few years due to rising demand for titanium from the aerospace industry. Growth in the aviation industry in emerging economies such as India, China, Brazil, South Africa and Russia is expected to boost demand for high performance alloys in these regions in the near future.

Aerospace demand

Aerospace applications dominated the high performance alloys market, accounting for over 54% share of the market in 2013. Rapid growth in the aerospace industry is anticipated to significantly drive demand for high performance alloys during the forecast period. Increasing demand for power generation and oil & gas is also estimated to boost demand for high performance alloys during the forecast period.
 
In terms of demand, North America was the leading region in the high performance alloys market in 2013. This was followed by Europe.North America and Europe accounted for around 72% share of the total high performance alloys market in 2013. Asia Pacific is likely to be the fastest growing regional market in terms of demand during the forecast period.
 
High Performance Alloys Market (Non-ferrous Alloys, Platinum Group Metal Alloys, Refractory Metal Alloys and Superalloys) for Aerospace, Industrial Gas Turbines, Industrial, Automotives, Oil & Gas, Electronic & Electrical and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020 is available here.