Master Alloy Market Is Driven By The Rapidly Growing Aerospace Industry Across The Globe
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An alloy can be defined as a combination of metals and of a metal and another element. Alloys can be well-defined by their metallic bonding strength. An alloy is possibly a solid mixture of metal components (a single phase) or a combination of multiple metallic phases (two or more solutions). Intermetallic composites are alloys that have a defined stoichiometry and structure of crystals. Occasionally, Zintl phases are also considered as alloys subject to the types of bond.
A master alloy is a type of base metal such as copper, aluminum or nickel blended with a comparatively high proportion of one or two other components. For instance, AlTi10- a binary alloy which comprises of nearly 10% titanium in aluminum. A master alloy is a semi-finished product and produced for use as a raw material by the metal industry. These alloys are manufactured in various figures such as rod in coils, ingot, waffle plate, etc. These alloys are used across the globe and they are always found in factories or plants where metal is liquefied, alloyed with multiple components and further cast into shapes. This can be done with various materials such as steel, aluminum, iron or by using an expensive metal such as gold.
The rapid growth of the aerospace industry is one of the major aspect driving growth of the master alloy market. This growth can be attributed to the increasing adoption of master alloys among automotive and aerospace industries to manufacture spare parts and other components. In addition, these alloys are light-weight in nature and have a strong resistance to corrosion which makes them an ideal material for producing automotive and aerospace-related components or spare parts. This is a major aspect supporting growth of the master alloys market.
However, slow down growth of the steel industry attributed to the fragmentation of the market which is resulting in declining profit margin is a major aspect which may challenge growth of the master alloys market.
- By Type
- By Region
- By Application
The master alloy can be divided into two types; aluminum-based master alloy and copper-based master alloy. Aluminum-based master alloy is highly in demand which can be attributed to its utilization in various industries ranging from automotive to consumer goods due to cost-effectiveness and compatibility with other base metals. In addition, its various properties such as corrosion resistance and light-weight nature fueling the demand for aluminum-based master alloy among the aforementioned industries.
Application of the master alloy includes titanium production, iron, stainless steel, aluminum industry, super alloys, metal anhydride alloys, powder metallurgical, and others.
Asia Pacific is significantly contributing to growth of the master alloy market, which can be attributed to rising demand for these alloys among various industries such as automotive, aircraft components, consumer goods, aluminum, etc. In addition, presence of the leading automotive companies such as Mitsubishi and Toyota are investing for their production facilities in Philippines, Malaysia, and Indonesia which may cause rapid growth of the master alloy market in the region. Also, revised tax policies and reducing the cost of vehicles are some additional aspects supporting growth of the master alloy market. North America master alloy is likely to register significant growth due to the rapidly growing aerospace industry coupled with the strong existence of the major aircraft manufacturers in the region. Growth of the master alloy market in Europe can be attributed to high demand for titanium alloy in Germany, especially among automotive and aerospace industries.
Major players operating in the global market include KBM Affilips, AMG, Reading Alloys, Aleastur, SLM, Avon Metals, Minex Metallurgical, Zimalco, Yamato Metal, Bamco, CERAFLUX, Belmont Metals, ACME, Milward, Silicor Materials, Metallurgical Products Company, IBC Advanced, Shenzhen Sunxing Light Alloy Materials and XZ Huasheng, and Hebei Sitong New Metal Material.
Steven Burnett has over 15 years of experience spanning a wide range of industries and domains. He has a flair for collating statistical data through extensive research practices, and is well-versed in generating industry-specific reports that enables his clients to better comprehend a market’s landscape and aid in making well-informed decisions. His hobbies include playing football and the guitar.