LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global high-performance alloys market provides an analysis of the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Chandrakumar Badala Jaganathan, a lead analyst from Technavio, specializing in research on metals and minerals sector, says, “The market for high-performance alloys has increased considerably over the past few years. This can be attributed to the growing applications of these alloys in various end-user industries, including aerospace, electronics, oil and gas and gas turbines. The superior chemical and mechanical properties such as resistance to heat and corrosion, high tensile strength, and inertness toward alkaline chemicals are some of the characteristics that are increasing their acceptance.”
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The top three emerging trends driving the global high-performance alloys market according to Technavio chemicals and materials research analysts are:
- Emergence of lightweight, high precision components in automotive industry
- Emerging applications of titanium alloys
- Growing prominence of nickel-based high-performance alloys
Emergence of lightweight, high precision components in automotive industry
The automotive industry accounts for 16% of the total aluminum consumption. The metal is extensively used for the production of the individual body panel. The metal is also used in exhaust valve in diesel and racing car engines. Alloys containing composite aluminum fortified with aluminum silica fibers, aluminum reinforced, and titanium with silicon nitride are used as a lateral wear surface in diesel pistons.
Corrosion resistance, lightweight, and sturdy intermetallic properties have made alloys preferable for engine components such as rotor and turbochargers. These properties also help in extending the life cycle of the equipment made by using these materials. High-performance alloys also offer improved heat and sound insulation. They also help in reducing weight and increasing fuel efficiency. Further, these alloys are easy to handle, design, shape, and repair.
Emerging applications of titanium alloys
The growth in the industrial and marine application for titanium-based alloys will be supported by the development of new markets along with the expansion of existing ones. Properties such as resistance to erosion and corrosion, high strength, and low density of titanium are increasing their acceptance across many segments. The acceptance of titanium-based alloys in new application areas such as scrubber systems, flue gas desulfurization, sour gas and deep-well services, and various marine applications has elevated their consumption considerably.
“Commercially, titanium-based alloys are becoming the standard material of construction in many services due to its corrosion resistance properties. The resistance of titanium to attack in many aggressive environments is allowing the end-users to plan on longer equipment life with reduced maintenance and downtime,” says Chandrakumar.
Growing prominence of nickel-based high-performance alloys
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. They are mainly employed in combustors and engine turbines as these sections are subjected to extreme temperatures. Efforts toward reducing carbon emissions and improving fuel efficiency in jet engines are increasing in the aerospace sector. This factor is likely to drive the demand for nickel-based superalloys and lead to the development of new generation of superalloys.
Nickel-based high-performance alloys are also essential for improving the energy efficiency in steam turbines that are used to generate electricity. Nickel-based alloys have an excellent combination of high-temperature strength, resistance, and toughness to degradation in corrosive or oxidizing environments.
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