The global high performance alloys market size is expected to reach USD 11.34 billion by 2024, according to a new report by Grand View Research, Inc. The industry is anticipated to grow, primarily on account of rising substitution of materials such as steel and aluminum due to superior performance and reduction in the price of such alloys.
Favorable characteristics of the alloys which aid in improvement in performance efficiency coupled with superior heat and insulation is expected to drive the demand. The price of the products is generally high on account of higher production cost, which is expected to emerge as one of the major factors restraining growth. The increasing cost of the alloying metals coupled with monopolistic hold of the industry players over the market is expected to hamper the demand over the forecast period. However, the lack of alternatives to the metals and commercialization of favorable technologies is anticipated to drive the demand over the forecast period. Presence of a number of raw material suppliers is expected to decrease the bargaining power. Furthermore, lower raw material prices offered by suppliers from Asia Pacific is expected to propel demand. However, increasing demand for these raw materials from other key end-use industries is expected to decline raw material availability. Full Research Report On Global High Performance Alloys Market By Grand View Research: www.grandviewresearch.com/industry-analysis/high-performance-alloys-market Further key findings from the report suggest:
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials Grand View Research has segmented the high performance alloys market on the basis of product, material, application and region. High Performance Alloys Product Outlook (Volume, Kilotons; Revenue, USD Million; 2013 - 2024)
www.grandviewresearch.com/press-release/global-high-performance-alloys-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information: www.grandviewresearch.com
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