2014-03-12 08:57:03 - Global High Performance Alloys Market 2013-2023 - a new market research report on companiesandmarkets.com
The global market for high performance alloys is currently going through somewhat of a boom thanks to its heavy use within the aerospace sector which is thriving due to heavy demand for long haul aircraft from Boeing and Airbus. However, this is imminently due to slow and move onto its next phase of growth focused on regional and business jets. The global high performance alloy industry is expected to consume over 400kt of high performance alloys.
The market is expected to grow slightly above the level of global output and this is due to the vital industries that the high performance alloys are chiefly used in such as energy generation and medical care which are not directly correlated to global output.
However leading industries that use high performance alloys such as the general industrial sector are highly correlated with global manufacturing output.
The majority of growth in the global market for high performance alloys over the decade will come from the emerging markets of China, Russia, Brazil and India which all have a rapidly growing industrial sector. In addition to this all of these countries will try to enter the oligopolistic aerospace industry over the next decade despite the industries consolidated structure. The current aerospace market is dominated by a small number of European and North American companies and the failed integration of Europe´s aerospace industry gives these emerging countries a chance to break into the large and lucrative industry.
While the chief sub industries comprising the overall market for high performance alloys will keep on growing and accelerating at greater speeds, the use of high performance alloys within these industries will start to fall simply due to the difficulty and high cost of using these metals. These metals currently have a monopolistic hold over the market as these high performance alloys are the only materials that can survive operating in the harsh conditions exacted by these industries. Due to this tight grip on the industry and lack of alternatives tentative steps are currently being made to find alternatives to these metals but commercialisation of these technologies and materials is slow and these new materials will only start to creep into the markets towards the end of the decade.
Over the short and medium run this gives the high performance alloys free reign to grow in their use within the industries of aerospace, general industry, energy generation and medical applications. This is only within very technical aspects of these industries and where no other material is able to exist in their place. However, this monopoly will start to fade in the long run.
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