The Global Market for High Performance Alloys to be led by North America: Transparency Market Research

Albany, New York, Oct. 15, 2014 (GLOBE NEWSWIRE) -- This market research report published recently, Transparency Market Research, a U.S. - based market intelligence firm states that regionally, the global high performance alloys market is led by North America. The report, titled '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 now available for sale on the company's website.

This market research report provides a detailed analysis of the global high performance alloys market which is primarily driven by aerospace, automotive, and power generation industries. Metal alloys made up of several alloying elements that are created to perform under extreme conditions like high pressure and high temperature are known as high performance alloys. Due to characteristics like high surface stability and good low-temperature ductility, high performance alloys are used extensively in a wide array of applications. High performance alloys are applied in petroleum and chemical plants, aerospace industry, rocket engines, and land-based gas turbines.

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The TMR report has segmented the global high performance alloys market on the basis of the product type, applications, and geography. The different types of high performance products in the high performance alloys market include refractory alloys, non-ferrous alloys, super alloys, and platinum group metal alloys. Hitherto, the largest product segment in the global high performance alloys market has been that of non-ferrous alloys. The segment of non-ferrous alloys is then followed by the super alloys segment in the high performance alloys market. Non-ferrous alloys are mainly applied in industries like oil and gas, aerospace, and gas turbines since these exhibit excellent mechanical properties. Superior phase stability, high temperature resilience, toughness, and resistance to corrosion are some of the basic features of super alloys.

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As per this research report, the segment which drives the global high performance alloys market is that of aerospace which is followed by oil and gas, and industrial gas turbines. Various airline companies of Latin America, the Asia Pacific, and Africa are reaping the benefits of noteworthy economic growth and subsequent gains in traffic. Low cost carrier companies in the developing economies are expected to witness high growth rates in the forthcoming years. As a result, the high performance alloys market in these regions will get a major boost in the near future.

According to this market research report, the Middle Eastern defense markets, and the commercial markets of the Asia Pacific are expected to establish new avenues in the market for high performance alloys. It is also anticipated that the demand for high performance, lightweight and high strength alloys will create new growth opportunities in the global high performance alloys market. Rising demand in the medical, oil and gas, chemical, electrical, and electronic industries is also expected to propel the global high performance alloys market. The main restraints facing the high performance alloys market are the complex manufacturing process, and high infrastructure cost induced capital intensive manufacturing.

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This report has also discussed some of the key players operating in the global high performance alloys market which include Verkhnesaldinskoye Metallurgicheskoe Proizvodstvennoe Obyedinenie, Aperam S.A., ThyssenKrupp AG, Allegheny Technologies Limited, RTI International Metals Inc, Carpenter Technology Corporation, RTI International Metals Inc, Haynes International, Inc., and Outokumpu Oyj.

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Source:Transparency Market Research