●Research Report ● Market Survey and Research ●Industry Analysis
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High performance alloys is an alloy that exhibits several key characteristics: excellent mechanical strength, resistance to thermal creep deformation, good surface stability and resistance to corrosion or oxidation. The crystal structure is typically face-centered cubic austenitic. Examples of such alloys are Hastelloy, Inconel, Waspaloy, Rene alloys, Haynes alloys, Incoloy, MP98T, TMS alloys, and CMSX single crystal alloys.
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First, the high performance alloys market is concentrated. The numbers of major manufacturer in this field would be no more than 100. For the past 20 years, high performance alloys has been a niche market, and advanced technology and sufficient raw material supply is vital in this industry. Consequently, only limited companies are able to produce high performance alloys in their own land. Regionally, USA is the biggest production base of high performance alloys, and the market share of EU is also considerable. Production in China more separated, but in fast development.
Second, as a kind of advanced material, the demand of high performance alloys highly relies on the downstream demand. Aerospace is the biggest market of high performance alloys, which takes more than 54% of total high performance alloys consumption in last year. IGT (electricity) and IGT (mechanical) are also major application of high performance alloys.
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Third, According to QYResearch, the global sale of high performance alloys has reached 1157 K MT in 2016, with annual increase more than 4.90% for the past five years. Comparative, the development in China is little faster. The production structure in China is in low end industry compared with developed countries. It is estimated that the market in China would be promising due to rigid demand in local industry. Generally, Precision Castparts Corporation dominates the high end market of high performance alloys, with several competitive players like Allegheny Technologies Limited and ThyssenKrupp (VDM). Fourth, the import and export percent of this industry is high. USA and EU are the main regions that export high performance alloys, with China the main import region. Technology is a vital factor in high performance alloys industry. The leading player Precision Castparts Corporation has declared the acquisition of 80% of products’ patent in high performance alloys industry.
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Fifth, the consumption of high performance alloys has been increasing with high speed in recent year. The main reason is weak demand of downstream market and fluctuation of raw materials like Nickel, Titanium and Cobalt. Also, fierce competitions exist in both high end markets and low end markets, which also influence the price trend of high performance alloys.
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Sixth, the global high performance alloys industry would keep increasing with annual growth rate with 3~5%, and a little higher speed in China. We tend to believe this industry now is in fast development, and the demand increasing degree will show a smooth curve.
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