Global High-Entropy Alloy Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global High-Entropy Alloy Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

High-entropy alloys, referred to as HEAs, are composed of 5 or more main elements, and the atomic fraction of each main element is >5% and<35%. Because high-entropy alloys may have many desirable properties, they are highly valued in materials science and engineering. In the past concept, if the alloy is added with more types of metals, the material will become embrittled, but high-entropy alloys are different from previous alloys in that there are many metals that do not embrittle.

Entropy represents the degree of chaos in a system, the more chaotic the higher the entropy, the more orderly the lower the entropy. According to the second law of thermodynamics, in nature, all isolated systems will develop toward an increase in entropy.

Market Overview:

The latest research study on the global High-Entropy Alloy market finds that the global High-Entropy Alloy market reached a value of USD 54.09 million in 2022. It’s expected that the market will achieve USD 204.45 million by 2028, exhibiting a CAGR of 24.81% during the forecast period.

Radiation resistant structural materials

Compared with water energy and light energy, nuclear energy has the characteristics of clean, efficient, safe and economical. Therefore, the development and application of nuclear energy have received extensive attention. One of the most challenging materials in nuclear energy is the core cladding material. So far, the core cladding materials are mainly zirconium alloys, nickel alloys, and stainless steel. With the development of a new generation of nuclear energy, high-entropy alloys have become one of the candidate materials for advanced nuclear energy in the future due to their good resistance to neutron radiation, and are expected to be used as structural materials for nuclear reactors.

Raw material prices

The manufacturing cost of high-entropy alloys accounts for a large proportion of the cost of raw materials. Therefore, the price and profit of high-entropy alloys are closely related to the price of raw materials. As developed countries pay more and more attention to environmental protection, certain restrictions have been imposed on mining and other industrial activities that are harmful to the environment, resulting in an increase in the cost of obtaining metal raw materials, which affects the manufacturing cost of high-entropy alloys, and thus affects Its price and profit, etc.

Region Overview:

Geographically, North America held the largest market share – 37.07% in 2021.

Company Overview:

Sandvik is one of the major players operating in the High-Entropy Alloy market, holding a share of 29.57% in 2021.

Sandvik

Sandvik Group is an engineering company engaged in mining and rock excavation, metal cutting and material technology. It provides metal cutting tools and tool systems, including boring, drilling, milling, reaming and turning tools, as well as custom tools, inserts and tool systems.

QuesTek

QuesTek Innovations is a company providing integrated computational materials engineering (ICME) solutions. It offers materials design, materials process optimization, and materials system modeling solutions. The company serves additive manufacturing, aerospace and defense, automotive, energy, industrial, and medical markets.

Segmentation Overview:

Among different product types, 5 Base Metals segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Mechanical segment occupied the biggest share from 2017 to 2022.

Key Companies in the global High-Entropy Alloy market covered in Chapter 3:

Beijing Yanbang New Material Technology Co., Ltd.
Beijing Zhongke Yannuo New Material
Jiangsu Willari New Material Technology Co., Ltd.
QuesTek
Hitachi
Sandvik

In Chapter 4 and Chapter 14.2, on the basis of types, the High-Entropy Alloy market from 2018 to 2029 is primarily split into:

5 Base Metals
Above 5 Base Metals

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the High-Entropy Alloy market from 2018 to 2029 covers:

Mechanical
Electrical
Magnetic

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)