Report Ocean publicizes a new report on the master alloys market. The master alloys market report contains numerous information about factors, such as market restrains, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the master alloys’ market growth. Additionally, the database analyzes and estimates the master alloys market both globally and regionally.

The master alloys market is expected to grow at a CAGR of 6.5% during the forecast period in terms of value.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market master alloys.

Master alloys can be defined as a combination of two or more alloys and are mainly used in the production of metals as an alloying element that enhances the heat and corrosion resistance properties along with other physical properties of the metals. Some of the examples of master alloys include molybdenum-aluminum-titanium (MoAlTi) and vanadium-aluminum-iron (valve). The titanium alloy industry alone uses more than 40 master alloys. The titanium industry is the largest consumer of master alloys and accounts for over 40% of the market share. Hence, the demand for master alloys is proportional to the growth of the titanium industry.

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The master alloys market is expected to grow at a CAGR of 6.5% during the forecast period in terms of value. The increasing demand for titanium alloys in an array of industries is driving the growth of the global master alloys market. Titanium alloy, a high-performance material, is gaining more traction in the aerospace industry due to its superior mechanical properties. As a result of the changing designs of civil aircraft, the consumption of titanium alloys per aircraft is increasing rapidly. Master alloys being an integral part of titanium alloy manufacturing, and the prevailing trend of titanium alloys in aircraft manufacturing is likely to drive the growth of the global master alloys market.

Moreover, superalloys are used in industries such as aerospace, for the manufacturing of aircraft engines and components; automotive, for engine components; chemical process, for various processing equipment; marine, for submarine applications in the manufacturing of turbines; and in pipelines in offshore drilling applications. The increasing demand for superalloys in these industries, coupled with the growth of the end-use industries, is likely to boost the demand for master alloys during the forecast period.

However, the fragmentation of the market, resulting in declining margins and the sluggish growth of the steel industry, might hamper the growth of the global master alloys market.

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Regional Analysis The master alloys market has been analyzed with respect to five regions?Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific accounted for the largest share in 2017 and is expected to grow at a healthy CAGR of 8.3% during the review period. The increasing demand from the application industries such as automotive, aircraft component, aluminum, and consumer goods in Asia-Pacific is projected to boost market growth.

North America was the second-largest regional market; the North American market is expected to reach USD 91.4 million by 2023 at a moderate CAGR during the review period. The European market is expected trail the North American market, with the demand for master alloys attributable to the adoption of lightweight materials in the automotive and aerospace industries. The markets in Latin America and the Middle East & Africa are expected to witness considerable growth as a result of the growing aerospace and automotive industries in the regions.

Segmentation The global master alloys market has been categorized on the basis of type, application, and region. Based on type, the market has been segmented into aluminum master alloys, copper master alloys, vanadium alloys, molybdenum alloys, chromium alloys, and others. The aluminum master alloys segment accounted for the largest market share and is expected to reach USD 205.9 million by 2023. Product demand can be attributed to its use in an array of industries from automotive to consumer goods, owing to its low cost and compatibility with base metals, coupled with its superior properties such as light weight and corrosion resistance.

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Based on application, the market has been segmented into titanium production, superalloys, aluminum industry, stainless steel, iron, metal anhydride alloys, powder metallurgical, and others. The titanium production segment accounted for the largest market share and is likely to reach USD 205.6 million by 2024 due to the increasing demand for titanium alloys in the aerospace, automotive, and sports and leisure industries. Based on region, the market has been segmented into Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players Some of the key players operating in the global master alloys market are Advanced Metallurgical Group, N.V. (Netherlands), KBM Affilips (Netherlands), Milward Alloys, Inc. (U.S.), Asturiana de Aleaciones, S.A. (Spain), Reading Alloys (AMETEK Inc.) (U.S.), Minex Metallurgical Co. Ltd. (India), Alumetal S.A (Poland), CERAFLUX India PVT.LTD. (India), Axayya Alloys Pvt. Ltd. (India), and Belmont Metals, Inc. (U.S.).

Regional Analysis The report offers a brief analysis of the market in various regions. > North America o U.S. o Canada > Europe o Germany o UK o Russia o France o Spain o Italy o Benelux o Rest of Europe

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> Asia-Pacific o China o Japan o India o ASEAN o Australia and New Zealand o South Korea o Rest of Asia-Pacific > Latin America o Brazil o Argentina o Mexico o Rest of Latin America > Middle East & Africa o Turkey o U.A.E. o Saudi Arabia o Iran o Rest of the Middle East & Africa

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Key Findings > The global master alloys market is projected to reach USD 441.2 million by 2024 at a healthy CAGR during the forecast period. > The aluminum master alloys segment accounted for the largest share of the master alloys market, by type, accounting for a market share, by value, of over 40% in 2017. > The titanium production application segment accounted for the largest market share and is expected to register a CAGR of ~8.0% during the forecast period. > Asia-Pacific is expected to be the largest and fastest-growing market, accounting for over a 40% value share of the global master alloys market in 2017.

Intended Audience > Master alloys manufacturers > Traders and distributors of master alloys > Production process industries > Potential investors > Raw material suppliers

DC Description > Titanium > Alloys > Metallurgy > Stainless steel

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