Auther / Researcher : MSf_78357
  • Category : Chemicals & Materials
  • Region : Global
  • Publishing Date : 04/15/2022
Single User License $3500 Global User License $5000 Raise a query Download Sample

Global Master Alloys Market


Global Master Alloys Market Share, Size, Trends, Industry Analysis Report, By Type (Aluminum Master Alloys, Vanadium Master Alloys, Molybdenum Alloys, Coppermaster Alloys, Zinc Based Master Alloys and Others); By Application (Die Casting, Powder Metallurgy, Galvanizing, Electroplating and Others), By End-Use Industry (Aerospace & Defense, Automotive, Marine, Jewelry, Sports); By Regions; Segment Forecast, 2021–2028

Market Overview

The global master alloys market was valued at USD 275.2 million in 2020 and is expected to reach USD 412.8 million by 2028, growing at a CAGR of 5.13% during 2021-2028.

Master alloy is a combination of a base metal such as aluminum, copper, and titanium with a relatively high percentage of two or more elements. It serves as a raw material for the manufacturing of various alloys; it is mainly used for altering and enhancing the heat and corrosion resistance of metals. 

Market Dynamics

The growth of the master alloys market is primarily driven by increasing demand in titanium alloy production. A broad range of master alloys such as vanadium aluminum (VAl), molybdenum aluminum (MoAl), chromium aluminum (CrAl) and military master alloys are used as alloying elements for the manufacturing of titanium alloys. The titanium alloys market growth is driven by increasing demand from the aerospace & military sector. Rapidly changing design requirements in the aerospace industry have witnessed increasing adoption of high-performance materials for aircraft structures and engine components. Thus, the optimistic market for titanium alloys on the backdrop of growing aerospace industry is expected to witness subsequent demand for master alloys. 

Additionally, an increasing use of aluminum alloys in the automotive sector with rising demand for lightweight vehicles is likely to augment the market growth substantially. Expanding automotive industry with increasing automobile production particularly in the developing countries is likely to propel the market growth at a significant rate during the review period.

Segmental Overview

The market is primarily segmented on the basis of type, application, end-use, and geographic region.

By Type:

The aluminum master alloys segment held the largest share in the global market in 2020. This is mainly ascribed to its widespread use in the end-use industries as it helps in achieving proper casting structure, quicker dispersion of additives, and enhancing the microstructural properties, thereby, increasing the strength, ductility, and machinability of metals. Also, it is an economical master alloy as compared to its counterparts. The vanadium master alloy segment is expected to register healthy CAGR during the review period.

By End-Use:

The aerospace & defense segment is estimated to register the highest CAGR during the forecast period. Master alloys are extensively used in the manufacturing of civil, military aircraft, and space programs. Master alloys are used for controlling chemistry in the melting of super alloys and titanium which are used in engines and airframes; metal powder coatings; and instrumentation applications, among others, in the aerospace industry. 

By Region:

Geographically, the market in Asia-Pacific accounted for the largest share of global master alloys in 2020 and is expected to register the highest CAGR during the review period. The market growth can be attributed to the growing urbanization and increasing industrialization in the developing economies of Asia-Pacific particularly India and Southeast Asian nations. China accounted for the largest market share in 2020. The strong presence of aerospace & defense, marine, and automotive industries are the prime factors fuelling the demand for master alloys in China. In 2021, the Chinese government proposed a yearly defense budget of USD 209 billion, a 6.8% increase from that of 2020 of USD 179 billion. 

The market growth in North America region is primarily driven by the presence of major aerospace & defense companies such as Northrop Grumman Corporation, Boeing, and GE. Established presence of automotive is another factor contributing to the regional growth. In addition to this, increasing environmental regulations pertaining to carbon emissions has resulted in surge in demand for lightweight materials which is likely to fuel the demand for aluminum alloys in the automotive industry.

COVID-19 Impact

The outbreak of COVID-19 has significantly impacted the chemicals & materials supply chains, international trade, and manufacturing operations across the world. The production of master alloys has declined amidst the COVID-19 pandemic as the market players had to shut production facilities or operate the facilities below the optimal production capacities to avoid the spread of the coronavirus. Further, the limited availability of raw materials due to supply disruptions has led to a decline in production. 

Competitive Insight

Some of the major players operating the global market include KBM Affilips, Belmont Metals, MMTC-PAMP, Heraeus Holding, Asturiana de Aleaciones, S.A., ALUMETAL S.A., Axayya Alloys Pvt. Ltd., Advanced Metallurgical Group, N.V. Minex Metallurgical Co. Ltd., and Milward Alloys, Inc. The market players are adopting various strategies such as acquisition, expansion and agreements among others to gain competitive edge in the market. 

 

Chapter 1 Research Methodology

1.1 Introduction

Our team of researchers implemented a mix of primary and secondary research. Our projects initiate with secondary research, where we referred to a variety of sources comprising trade databases, investor presentations, company annual reports, the government published documents, white papers, and several paid databases. This process helped us outline the market and refine the scope of the study. We have a very strict guideline for selecting the sources of our information. These sources were screened and checked for the quality of data they offer and their methods of collecting such data. We always double-check the information from at least two sources to determine the credibility of the data.

1.1 Data Capture Sources

Post the initial data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across teams and by our in-house SMEs. Along with data mining, we also initiate the primary research phase in which we interact with compa-nies operating within the market space.

To evaluate the wholeness of the market, we interact (via email or telephone) with players who are responsible for adding value to the final product. Additionally, we interact with related industries to understand the external factors that can drive/hamper a market. We also make it a point to evaluate various economic parameters, which typically, have an impact on the purchasing choices of individuals as well as companies.

Post this stage, data is cross-verified with the companies that operate in a market space. It is important for us to study these companies in detail, to understand their existing performance and future strategies which will define the market in the coming years.

All this data is collected and evaluated by our analysts. Post the preparation of the report and data analysis, the findings are presented to our in-house experts who then eliminate discrepancies (if any).

1.1.1 Primary Sources

• Industry Associations

• Patent Websites

• Solutions and service providers

• Key industry leaders

• Technology consultants

• System Integrators

• Others

1.1.2 Secondary Sources

• Company Websites

• Company Presentations

• Company Annual Reports

• IEEE Journals

• Industrial Magazines

• White Papers

• Press Releases

1.1.3 Paid Data Sources

• Factiva

• D&B Hoovers

• Statista

• Owler

• Enlyft

• HG Insights

• Bloomberg

• CrunchBase

1.2 Market Size Estimation

We employ the universally accepted approach of data triangulation to estimate market sizes. We have applied a combination of top-down and bottom-up approaches to arrive at a small range close to the market size. We then connected with industry opinion leaders, subject matter experts, market participants, suppliers, traders, regulators, etc., to validate and verify our research findings and estimations. We approached participants from all stages of the supply chain and get their insights on the market to enhance the accuracy of our estimations and gain qualitative and subjective information to support our data.

1.2.1 Top-down approach: 

The top-down approach includes estimating the global market. We study the whole value chain to determine the parent market and the upstream market size in the value chain to justify our estimations for the market being studied. The top-down approach provides a way to verify the market size estimates from the total number. It is also used in further segmenting the market into smaller segments (country/application/others).

1.2.2 Bottom-up approach: 

We employ the bottom-up approach where the market data is available for sales of companies participating in the market. We study the country sales and sales in the inclusive segments of the market along with demographics of the individual countries to arrive at the estimates for the market.

 

  FIG. 1 Market Size Estimation: Top-down and Bottom-up Methodology 

 

Source: XYZ Research

1.3 Market Forecast

In the rapidly changing business scenario catalyzed by the changes in technology, traditional forecasting models fall short. Each market has unique characteristics and risks that impact it differently. We aim to find commonalities and abnormalities to identify real patterns. Consequently, we employ custom forecasting models using a mix of traditional time series forecasting methods adjusted to accommodate the effects of current factors that may have an impact on the current and future outlook of the market. 

The forecasting techniques we use are a mixture of regression analysis and exponential smoothening to align our predictive analysis with the recent trends and rapidly changing business cycles. For seasonal markets, we use hybrid forecasting methods that include spectral analysis in combination with the decomposition forecasting method.

  FIG. 2 Market Forecast 

 

Source: XYZ Research

 

 

1.4 Data Triangulation

  FIG. 3 Research Methodology -  Data Triangulation 

 

Source: XYZ Research

 

1.5 Assumptions and Limitations

• Factors including the underlying growth of end-user industry industries and new product launches by key manufacturers have been taken into consideration while forecasting growth.

• Financial data is provided for the private as well as publicly listed companies.

• Numbers may not add up due to rounding off.

• Inflation has not been considered while estimating and forecasting the market.

• Constant currency rates have been taken into consideration while calculating the market estimates to maintain uniformity.


Global Master Alloys Market Share, Size, Trends, Industry Analysis Report, By Type (Aluminum Master Alloys, Vanadium Master Alloys, Molybdenum Alloys, Coppermaster Alloys, Zinc Based Master Alloys and Others); By Application (Die Casting, Powder Metallurgy, Galvanizing, Electroplating and Others), By End-Use Industry (Aerospace & Defense, Automotive, Marine, Jewelry, Sports); By Regions; Segment Forecast, 2021–2028

 

 1  Executive Summary

 

 2  Market Introduction

 2.1  Definition

 2.2  Architecture

 2.3  Scope of the Study

 2.4  Related Stakeholders

 

 3  Research Methodology

 3.1  Introduction

 3.2  Primary Research

 3.2.1  Key Insights

 3.2.2  Breakdown of Primary Interviews

 3.3  Secondary Research

 3.3.1  Important Sources

 3.4  Market Size Estimation Approaches

 3.4.1  Top-Down Approach

 3.4.2  Bottom-Up Approach

 3.4.3  Data Triangulation

 3.5  List of Assumptions

 

 4  Market Dynamics

 4.1  Introduction

 4.2  Introduction

 4.3  Drivers

 4.4  Restraints

 4.5  Opportunities

 4.6  Trends

 4.7  Raw Material Analysis

 4.8  Porter's Five Forces Model Analysis

 4.9  Value Chain Analysis

 4.9.1  Vendor Matrix

 4.10  Regulatory Framework

 4.11  Impact of COVID-19 on Global Master Alloys Market

 

 5  Global Master Alloys Market, By Type

 5.1  Introduction

 5.2  Aluminum Master Alloys

 5.3  Vanadium Master Alloys

 5.4  Molybdenum Alloys

 5.5  Coppermaster Alloys

 5.6  Zinc Based Master Alloys

 5.7  Others

 

 6  Global Master Alloys Market, By Application

 6.1  Introduction

 6.2  Die Casting

 6.3  Powder Metallurgy

 6.4  Galvanizing

 6.5  Electroplating

 6.6  Others

 

 7  Global Master Alloys Market, By End-Use Industry

 7.1  Introduction

 7.2  Aerospace & Defense

 7.3  Automotive

 7.4  Marine

 7.5  Jewelry

 7.6  Sports

 8  Global Master Alloys Market, By Region

 8.1  Introduction

 8.2  North America

 8.2.1  US

 8.2.2  Canada

 8.2.3  Mexico

 8.3  Europe

 8.3.1  Germany

 8.3.2  UK

 8.3.3  France

 8.3.4  Italy

 8.3.5  Spain

 8.3.6  Rest of Europe

 8.4  Asia-Pacific

 8.4.1  China

 8.4.2  India

 8.4.3  Japan

 8.4.4  South Korea

 8.4.5  Rest of Asia-Pacific

 8.5  Middle East and Africa

 8.6  South America

 

 9  Competitive Landscape

 9.1  Introduction

 9.2  Vendor Evaluation Criteria

 9.3  Vendor Share Analysis, 2020

 9.4  Recent Developments, 2018-2021

 9.4.1  New Product Launches

 9.4.2  Partnerships

 9.4.3  Mergers or Acquisitions

 9.4.4  Business Expansions

 

 10  Company Profiles

(This section covers the Business Overview, Financial Overview, Product and Product Offerings, Recent Developments, SWOT Analysis, and Key Strategies of the top market vendors. The given sequence does not represent their rankings in the market.)

 10.1  KBM Affilips

 10.2  Belmont Metals

 10.3  MMTC-PAMP

 10.4  Heraeus Holding

 10.5  Asturiana de Aleaciones, S.A.

 10.6  ALUMETAL S.A.

 10.7  Axayya Alloys Pvt. Ltd.

 10.8  Advanced Metallurgical Group, N.V.

 10.9  Minex Metallurgical Co. Ltd.

 10.10  Milward Alloys, Inc.

 

 11  Appendix

 11.1  Discussion Guide

 11.2  Customization Options

 11.3  Related Reports

 

 

List of Tables

 

Table 1  Global Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 2  Global Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 3  Global Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 4  Global Master Alloys Market, By Region, 2016-2026 (USD Million)

Table 5  North America Master Alloys Market, By Country, 2016-2026 (USD Million)

Table 6  North America Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 7  North America Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 8  North America Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 9  United States Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 10  United States Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 11  United States Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 12  Canada Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 13  Canada Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 14  Canada Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 15  Mexico Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 16  Mexico Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 17  Mexico Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 18  Europe Master Alloys Market, By Country, 2016-2026 (USD Million)

Table 19  Europe Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 20  Europe Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 21  Europe Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 22  Germany Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 23  Germany Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 24  Germany Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 25  United Kingdom Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 26  United Kingdom Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 27  United Kingdom Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 28  France Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 29  France Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 30  France Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 31  Italy Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 32  Italy Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 33  Italy Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 34  Spain Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 35  Spain Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 36  Spain Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 37  Rest of Europe Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 38  Rest of Europe Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 39  Rest of Europe Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 40  Asia-Pacific Master Alloys Market, By Country, 2016-2026 (USD Million)

Table 41  Asia-Pacific Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 42  Asia-Pacific Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 43  Asia-Pacific Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 44  China Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 45  China Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 46  China Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 47  India Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 48  India Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 49  India Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 50  Japan Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 51  Japan Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 52  Japan Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 53  South Korea Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 54  South Korea Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 55  South Korea Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 56  Rest of Asia-Pacific Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 57  Rest of Asia-Pacific Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 58  Rest of Asia-Pacific Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 59  Middle East and Africa Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 60  Middle East and Africa Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 61  Middle East and Africa Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

Table 62  South America Master Alloys Market, By Type, 2016-2026 (USD Million)

Table 63  South America Master Alloys Market, By Application, 2016-2026 (USD Million)

Table 64  South America Master Alloys Market, By End-Use Industry, 2016-2026 (USD Million)

 

List of Figures

 

Figure 1 Global Master Alloys Market: Market Segmentation

Figure 2 Global Master Alloys Market: Research Methodology

Figure 3 Breakdown of Primary Interviews

Figure 4 Top Down Approach

Figure 5 Bottom Up Approach

Figure 6 Data Triangulation

Figure 7 Global Master Alloys Market: Drivers, Restraints, Opportunities, and Challenges

Figure 8 Global Master Alloys Market: Porter's Five Forces Model Analysis

Figure 9 Global Master Alloys Market: Value Chain Analysis

Figure 10 Global Master Alloys Market Share Analysis, By Type, 2020 and 2026

Figure 11 Global Master Alloys Market Share Analysis, By Application, 2020 and 2026

Figure 12 Global Master Alloys Market Share Analysis, By End-Use Industry, 2020 and 2026

Figure 13 Global Master Alloys Market Share Analysis, By Region, 2020 and 2026

Figure 14 North America Master Alloys Market Share Analysis, By Country, 2020 and 2026

Figure 15 North America Master Alloys Market Share Analysis, By Type, 2020 and 2026

Figure 16 North America Master Alloys Market Share Analysis, By Application, 2020 and 2026

Figure 17 North America Master Alloys Market Share Analysis, By End-Use Industry, 2020 and 2026

Figure 18 Europe Master Alloys Market Share Analysis, By Country, 2020 and 2026

Figure 19 Europe Master Alloys Market Share Analysis, By Type, 2020 and 2026

Figure 20 Europe Master Alloys Market Share Analysis, By Application, 2020 and 2026

Figure 21 Europe Master Alloys Market Share Analysis, By End-Use Industry, 2020 and 2026

Figure 22 Asia-Pacific Master Alloys Market Share Analysis, By Country, 2020 and 2026

Figure 23 Asia-Pacific Master Alloys Market Share Analysis, By Type, 2020 and 2026

Figure 24 Asia-Pacific Master Alloys Market Share Analysis, By Application, 2020 and 2026

Figure 25 Asia-Pacific Master Alloys Market Share Analysis, By End-Use Industry, 2020 and 2026

Figure 26 Middle East and Africa Master Alloys Market Share Analysis, By Type, 2020 and 2026

Figure 27 Middle East and Africa Master Alloys Market Share Analysis, By Application, 2020 and 2026

Figure 28 Middle East and Africa Master Alloys Market Share Analysis, By End-Use Industry, 2020 and 2026

Figure 29 South America Master Alloys Market Share Analysis, By Type, 2020 and 2026

Figure 30 South America Master Alloys Market Share Analysis, By Application, 2020 and 2026

Figure 31 South America Master Alloys Market Share Analysis, By End-Use Industry, 2020 and 2026

Figure 32 Global Master Alloys Market: Competitive Benchmarking

Figure 33 Global Master Alloys Market: Vendor Share Analysis, 2020