Metal alloy market is anticipated to grow at a CAGR of 4.77% during the forecast period (2023-2030). Metal alloys are metallic substances produced by joining or melting two metals, or metal and non-metal, to provide a desired property such as strength, hardness, lightness, etc. The aerospace and defense industries' growing need for lightweight components is a major market driver for metal alloys. Helicopter transmission casings, aviation engines, gearbox casings, turbine engines, jet engine fan frames, spacecraft, and missiles are all made of magnesium alloys. For instance, in April 2023, Alloy 783 and X12 steel M72 studs are developed by MIDHANI for use in supercritical steam turbines. This is a substitute import. Utilizing in-house melting and processing techniques, the product was created.  Bharat Heavy Electricals Limited (BHEL) has received the item.

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Among the material, the aluminum alloy sub-segment is expected to hold a considerable share of the global metal alloy market. The segmental growth is attributed to the growing use of convectional aluminum alloy-based pressure vessels, maritime and aerospace parts, applications in the energy sector, and other applications that profit from the higher strength and design complexity. For instance, in May 2023, A brand-new, high-strength aluminum alloy from Elementum 3D was released without the requirement for heat treatment. Manufacturers may now print sophisticated components from a high-strength aluminum alloy with less post-processing time and expense thanks to the introduction of A5083-RAM5. These restrictions have been removed using patented reactive additive manufacturing (RAM) technology by synthesizing nanoscale reinforcements during the printing process to provide a fine equiaxed microstructure with enhanced characteristics and printability.

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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Market Segmentation

Global Metal Alloy Market by Materials

Stainless Steel Alloys
Aluminum Alloys
Bronze Alloys
Nickel Alloys
Others (Iron Alloy)

Global Metal Alloy Market by Process

Casting
Hot & Cold Rolling
Others (Fusion Method)

Global Metal Alloy Market by Application

Aerospace
Automotive
Construction
Electronics
Energy
Medical
Other (Packaging, Machinery)

Company Profiles 

Aperam S.A.
ArcelorMittal
AVISMA Corp.
Chalco
IBC Advanced Alloys Corp
Jindal Stainless
Kobe Steel, Ltd.
Outokumpu
POSCO
Precision Castparts Corp.
Rio Tinto
RTI International Metals
ThyssenKrupp AG
Timken
Voestalpine AG

The Report Covers

Market value data analysis of 2022 and forecast to 2030.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global metal alloy market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.

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