The global master alloy market size is expected to reach USD 657.6 million by 2028 according to a new study by Polaris Market Research. The report “Master Alloy Market Share, Size, Trends, Industry Analysis Report, By Application (Die Casting, Powder Metallurgy, Galvanizing, Electroplating, Others), By End-Use; By Type; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for master alloy is expected to increase substantially due to the rising demand for high-performance master alloy in the automotive and aerospace & defense industries. Growing demand for new generation fuel-efficient aircrafts due to rising environmental regulations has resulted in increased spending on modification, up gradation, and substitution of existing infrastructure, and equipping the latest technologies to ensure productivity and efficiency of the aircraft, thus, resulting in high demand globally.
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Increasing adoption of titanium in the aerospace industry due to its superior properties such as strong heat and corrosion resistance and other mechanical properties is one of the key factors propelling the master alloy industry growth.
Die casting application segment accounted for the largest share in 2020. Die casting process is one of the quickest and economical forming processes. It is a casting process in which liquid melt is pressed into a mold at high filling speed and high pressure. Zinc, aluminum, and magnesium are the main die casting alloys. Die casting process not only can withstand high operating temperatures, but they are also fully recyclable.
The market players are emphasizing on adopting various strategic initiatives such as product innovation, collaboration, acquisition, and partnerships to enhance their product portfolio and offer products as per customer requirement and thus, attain a competitive edge over other market players. For instance, efforts have been made by industry players to correctly design the composition of such elements, to understand the behavior when impacted with liquid spreading all across the sintered part of the metal combination.
Key Market Participants include N.V. MMTC-PAMP, Aleastur, Minex Metallurgical Co. Ltd., ALUMETAL S.A., Yamato Metal, Asturiana de Aleaciones, Avon metals, Advanced Metallurgical Group, Belmont Metals, Zimalco, CERAFLUX, KBM Affilips, Milward, Silicor Materials, and Heraeus Holding.
Polaris Market Research has segmented the master alloy market report on the basis of type, application, end-use, and region:
Master Alloy, Type Outlook (Revenue, USD Million, 2016 - 2028)
Master Alloy, Application Outlook (Revenue, USD Million, 2016 - 2028)
Master Alloy, End-Use Outlook (Revenue, USD Million, 2016 - 2028)
Master Alloy, Regional Outlook (Revenue, USD Million, 2016 - 2028)