Increasing demand for master alloys in the production of titanium alloys is expected to boost the global market at a CAGR of around 5.0%

Pune, India, August 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Master Alloys Market.

Market Highlights

Global Master Alloys Market is estimated to be valued at USD 0.4809 Billion by 2030 and register a CAGR of around 5.0% during the forecast period.

The global master alloys market is expected to witness surging growth in the coming assessment period owing to its widespread usage in diverse end-use industries such as aerospace & defense, automotive, and marine. The growth is mainly attributed to the increasing demand for master alloys in the production of titanium alloys. Also, escalating demand from the aerospace & defense sector is likely to boost the global market. However, factors such as sluggish demand in the steel industry and the presence of potential substitutes hamper the growth of the market. Nevertheless, the collaboration of manufacturers with key stakeholders to develop customized end-use products is likely to bring a lucrative growth opportunity for the market during the forecast period.

Segmental Analysis

According to MRFR analysis, the Global Master Alloys Market has been segmented based on Type, Application, End-Use Industry and Region.

Based on Type, the global master alloys market has been segmented into aluminum master alloys, vanadium master alloys, copper master alloys, molybdenum alloys, zinc-based master alloys, and others.  The aluminum master alloys segment accounted for the largest share of over 40% of the global market in 2019. The segment is expected to witness a healthy growth of over 5% during the forecast period owing to its exceptional physical and chemical properties compared to other alloys.

Based on Application, the global master alloys market has been segmented into die casting, electroplating, galvanizing, powder metallurgy, and others. Among this, the die-casting segment holds the maximum share of around 60% of the global market. The high market share is mainly due to the surging demand for die-casted products in the end-use industries. Furthermore, it is expected to witness an increase of around 5.5% during the forecast period 2023 - 2032 and reach around USD 0.4809 Billion by 2030.

Based on End-Use Industry, the global master alloys market has been segmented into aerospace & defense, automotive, marine, jewelry, sports, and others. The aerospace & defense segment, among other end-use industries, accounted for the largest market share. This is attributed to the rising demand for titanium alloys in the industry. It is expected to register a healthy CAGR of around 5.5% between 2020-2030.

Regional Analysis

Geographically, the Global Master Alloys Market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, the Asia-Pacific region dominated the global market, accounting for the largest share of around 40% in 2019, and is expected to register a CAGR of around 6% during the forecast period. Asia-Pacific is followed by North America, which accounted for the second-largest share of the global master alloys market in 2019. The North American market is expected to exhibit a share of around 25% in 2019. The Europe region is expected to witness moderate growth, with CAGR around 4% during the forecast period. Latin America and the Middle East & Africa markets are also likely to witness significant growth with CAGR of over 5% during the forecast period, 2020–2030.

Key Players

MRFR recognizes the following companies as the Key Players in the Global Master Alloys Market: Belmont Metals (US), KBM Affilips (Netherlands), Heraeus Holding (Germany), MMTC-PAMP (India), ALUMETAL S.A. (Poland), Asturiana de Aleaciones, S.A. (Spain), Axayya Alloys Pvt. Ltd. (India), Advanced Metallurgical Group, N.V. (Netherlands), Minex Metallurgical Co. Ltd. (India), and Milward Alloys, Inc. (US).

Key Findings of the Study

• The Global Master Alloys Market was valued at around USD 290,194.4 Thousand in 2019 and is expected to register a CAGR of around 5.0% to reach around USD 431,316.9 Thousand by the end of 2030.

• Based on type, the aluminum master alloys segment held the largest share of 40% by value in 2019 and is expected to register a CAGR of around 5.5% during the forecast period.

• By application, the die-casting segment is estimated to be the largest segment of the global market, which accounted for over 60% value share in 2018.

• Based on the end-use industry, the aerospace & defense segment held the largest share of around 45% by value in 2019 and is expected to register a CAGR of around 5.5% during the forecast period.

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  The Asia-Pacific market accounted for the largest share of around 40% by value in 2019.Access Full Report Details - Master Alloys Market Size