Technavio Announces the Publication of its Research Report Global High-Performance Alloys Market 2016-2020
Technavio recognizes the following companies as the key players in the global high-performance alloys market: Alcoa, ATI, Haynes, Special Metals, VSMPO-AVISMA, Aperam, Baosteel, Beijing CISRI-GAONA Materials & Technology, Carpenter Technology, CDM, Danyang Kaixin Alloy Materials, Fushun Special Steel Shares, Hangzhou King Titanium, Kobe Steel, Jiangsu Well Titanium, Shenyang Hejin Holding Investment, Super Alloy Industrial, Shaanxi Jin Han Precious Metals, and TIMET.
Commenting on the report, an analyst from Technavios team said: Growing prominence of nickel-based high-performance alloys will be a key trend for market growth. Nickel-based high-performance alloys are extensively used in the manufacture of aircraft and power-generation turbines, rocket engines, chemical processing plants, nuclear power, and other challenging environments. These high-performance alloys are used widely in the production of aircraft parts and typically constitute 40%-50% of the whole weight of an airplane engine.
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According to the report, increased efficiency of engines will be a key driver for market growth. Alloys of nickel, aluminum, and titanium are mostly used in the aerospace industry owing to their extremely high resistance to temperature and physical stress. The amount of alloy present in each aircraft can range from 30% to 60%. High-performance alloys of titanium are used in the manufacture of gas turbine engines, as they exhibit properties such as creep resistance, sulfidation, heat resistance, resistant to oxidation, and corrosion-resistant and other related features.
Further, the report states that toxic nature of chromium and other metals will be a challenge for the market. Hexavalent chromium and nickel compounds used in the aerospace sector can cause severe health effects such as lung cancer. It has been reported that continuous exposure to chromium during abrasive blasting, grinding spray, and painting have elevated cancer risk in workers in a chromate dye company. The element is added to paint as a pigment and as an anti-corrosive agent. These paints are used significantly in the aerospace industry. Exposure to Cr(VI) can arise during the painting of aircraft interiors or parts, exterior parts, and through the exclusion of chromate-based coatings and sanding. The Occupational Safety and Health Administration (OSHA) has limited the exposure for workers at 5 µg/m3 of Cr(VI) on an eight-hour time-weighted average.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About High-Performance Alloys
High-performance alloys are a class of alloys that exhibit creep resistance at high temperatures and excellent mechanical strength. These alloys mainly consist copper, lead, titanium, rhenium, chromium cobalt, and nickel as base alloys. They exhibit properties such as resistance to corrosion, resistant to oxidation and sulfidation, heat resistance, and other related properties.
Technavios analysts forecast the global high-performance alloys market to grow at a CAGR of 4.56% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global high-performance alloys market for 2016-2020. To calculate the market size, the report considers the revenue generated from the products made up of alloys.
The market is divided into the following segments based on geography:
Technavio’s report, Global High-Performance Alloys Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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