Master Alloys Industry |ALUMETAL , Asturiana de Aleaciones, Heraeus Holding,Axayya Alloys
Master Alloys Market Overview
Global Master Alloys Market is expected to register a CAGR of 5.0% to reach around USD 431,316. Thousand by the end of 2030.
Market Dynamics
Growing demand in the production of titanium alloy, an increasing automotive sector in emerging countries, and rising demand for superalloys in specific end-use industries are pushing the global demand for master alloys. The need for titanium alloys is driven by rising demand from both the aerospace and military industries. With that research and development in the aerospace sector; more titanium alloys in civil aircraft need refinement in design. Therefore, against the backdrop of the booming aerospace industry, the rising need for titanium alloys is projected to result in a resulting rise in demand for master alloys, contributing significant importance to global business revenues. The sector, however, faces problems with market competition, alternative goods and the steel industry ‘s slow production. In addition , the growing demand from the aerospace and military industries for titanium alloys is projected to provide lucrative growth opportunities for the industry during the forecast period.
Segmental Analysis
Global Master Alloys Industry was segmented by industry, size, product, end-use, and area.
The global market was segmented into vanadium master alloys, aluminum master alloys, copper master alloys, molybdenum alloys, zinc master alloys and others based on Form.
The global master alloys market based on Application has been segmented into electroplating, die casting, galvanizing, powder metallurgy and others.
The global master alloys market, based on end-use industry, has been segmented into aerospace & defence, automobile, maritime, clothing, sports and others.
Regional Analysis
Global Master Alloys Market is divided into North America, Europe , Asia-Pacific, Latin America , and the Middle East & Africa, based on area.
Due to the rising demand for master alloys in emerging economies like India, China , and Japan, the Asia-Pacific market accounted for the largest share of about 40 per cent of the global master alloys industry in 2019. China is one of Asia-Pacific’s top manufacturers of master alloys and accounts for over 45 percent of the market share. Increasing investment in the aerospace & defense industry in countries like China, South Korea and India is also fueling business growth in the region.
Owing to the presence of major aerospace & defense firms, North America became the second biggest region with a share of about 25 per cent of the global economy in 2018. Moreover, the existing presence of the region’s major end-use industries is the prime factor that propels the region’s demand growth during the forecast era.
Europe accounts for more than 20 per cent of the global share, and a CAGR of more than 3.5 per cent is predicted. Growth in the area is due mainly to the developed market of major players and strict technical criteria encouraging the adoption of master alloys.
The Master Alloys market is expected to experience significant growth in Latin America and the Middle East & Africa during the forecast era. This rise is due to the increasing aerospace & defense sector in the regions and the emerging automotive industry , especially in the UAE.
Key Players
Global Master Alloys Market is characterized by the presence of many global, regional, and local vendors such as Belmont Metals (US), KBM Affilips (Netherlands), Heraeus Holding (Germany), MMTC-PAMP (India), ALUMETAL S.A. (Poland), Asturiana de Aleaciones, S.A. (Spain), Axayya Alloys Pvt. Ltd. (India), Advanced Metallurgical Group, N.V. (Netherlands), Minex Metallurgical Co. Ltd. (India), and Milward Alloys, Inc. (U.S.)
Industry Updates
October 2019: AMG Advanced Metallurgical Group N.V., a leading materials company, announced that a mandatory contract was extended to purchase the holdings of International Specialty Alloys (ISA), from Kennametal, Inc. This acquisition offered a better competitive edge to AMG.
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