Metal Alloys Market Size, Share and Industry Analysis Report by Material (Stainless Steel Alloys, Aluminum Alloys, Bronze Alloys, Nickel Alloys), Process (Casting, Hot & Cold Rolling) and Application (Transportation, Construction, Packaging, Machinery, El

Metal Alloys Market Size, Share and Industry Analysis Report by Material (Stainless Steel Alloys, Aluminum Alloys, Bronze Alloys, Nickel Alloys), Process (Casting, Hot & Cold Rolling) and Application (Transportation, Construction, Packaging, Machinery, Electrical), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2022 - 2030

The metal alloys market is poised to showcase considerable growth by 2030 primarily owing to increasing product uptake across varied industry verticals globally.

Recently, increased research efforts to broaden the scope of application and advance product development has been favorable for industry expansion. For instance, in March 2022, Assistant Professor Yufeng Zheng of the University of Nevada received the National Science Foundation CAREER award for designing novel titanium alloys with high strength and ductility by leveraging a new designing strategy dubbed metastability engineering. The research could potentially impact the design of novel lightweight advanced alloys utilized in the aerospace and automobile sectors.

Similarly, in April 2022, a Kyoto University team successfully fabricated an alloy by combining all eight precious metals, a world first. The eight-element alloy could solve energy problems and promises 10x better performance than platinum as a catalyst in generating hydrogen from water electrolysis. As a result, prominent R&D activities in the space have propelled business growth.

The metal alloys market has been bifurcated in terms of material, process, application, and region. Based on material, the market has been categorized into aluminum alloys, stainless steel alloys, nickel alloys, bronze alloys, and others.

The bronze alloys sub-segment held a sizable market share in 2021 and is set to grow at a CAGR of about 2.7% in terms of revenue through the assessment timeframe. Rising demand from industrial and marine applications owing to the ability of bronze alloys to withstand extremely corrosive and high-pressure situations is anticipated to boost product uptake in the coming years.

With respect to process, the metal alloys market has been segregated into hot & cold rolling, casting, and others. The hot & cold rolling sub-segment is expected to generate more than USD 240 billion in revenue by 2030, growing at a steady pace over the analysis period. High product adoption in transportation and construction applications is set to fuel segmental development.

From the application point of view, the metal alloys market has been segmented into construction, transportation, machinery, packaging, electrical, and others. In 2021, the packaging sub-segment registered a valuation of around USD 19 billion and is estimated to generate nearly USD 28 billion in revenue by the end of 2030. Surging demand for flexible packaging is expected to bolster product usage in the packaging sector in the forthcoming years.

In the regional landscape, the Middle East & Africa metal alloys market accounted for a notable portion of the overall industry revenue in 2021 and is projected to exceed a valuation of USD 6.5 billion by 2030. Rapid infrastructure development and rising automotive production across MEA are likely to foster regional market outlook.