Corrosion Resistant Alloys Market to Reach USD 9.64 Bn by 2025, Expects Grand View Research in Its Study Available at MarketPublishers.com05 Dec 2017 • by Natalie Aster
LONDON – Worldwide, the market for corrosion resistant alloys is poised to be estimated at USD 9.64 billion by end-2025. Key factors giving a boost to the market growth include the ongoing technological advances in the corrosion resistant alloys to accommodate the needs of the various end-use sectors. The expanding aerospace and automotive industries worldwide are also set to propel the demand for the product going forward.
The world demand for cobalt-based alloys stood at USD 377.8 million in value terms as of 2016 and is projected to grow moderately in the coming 8 years. The Canadian aerospace & defense segment was worth USD 215.4 million as of 2016 and is set to record a 7.5% CAGR through to 2025.
The APAC market is likely to see fluctuating growth in the offing due to growing R&D activities, which in turn is set to positively influence the automotive and aerospace sectors. Canada’s market is likely to post a 6.8% CAGR to 2025.
Mitsubishi Materials Trading Corporation, Haynes International, Hitachi Metals MMC Superalloy, and Nippon Steel & Sumitomo Metal, amid others, are the prominent players in the marketplace.
In-demand research report “Corrosion Resistant Alloys Market Analysis” drawn up by Grand View Research offers a deep, unprejudiced assessment of the market from a global perspective.
The study provides takes a look at the structure, penetration rate and growth prospects of the market. It includes a value chain analysis; investigates the regulatory framework; explores key market restraints and drivers; offers detailed Porter’s analysis and PESTEL analysis. The research study provides market segmentation on the basis of type, end-user, and by region; providing market size estimates (historical and forecast) and trends for each of the segments. The report limelights the competitive scene and includes granular profiles of the top 10 market participants.
More in-demand reports by Grand View Research are at hand in the publisher's online catalogue.