Oxide Dispersion Strengthened (ODS) Alloys Market Size & Share, by Type (Iron-Based ODS, Nickle-Based ODS, Chromium-Based ODS, Aluminum-Based ODS, Others); Application (Turbine, Space Launch Systems, Nuclear Reactor, Chemical Processing System); End-Use Industry (Aerospace, Marine, Chemical, Energy, Others) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5869
  • Published Date: Mar 11, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Oxide Dispersion Strengthened Alloys Market size is expected to reach USD 12 billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of oxide dispersion strengthened (ODS) alloys was USD 7 billion. The major element to dominates the market revenue is the growing generation of electricity through nuclear reactors. With roughly 439 power reactors, nuclear energy currently generates over 11% of the world's electricity. Furthermore, its demand is estimated to rise more owing to the need for green energy solutions. As a result, the demand for ODS alloys is also projected to rise since it is utilized in a nuclear reactor.

Additionally, there has been a surge in the development of advanced techniques for manufacturing which includes mechanical alloying, and powder metallurgy. This further increased the development of enhanced oxide dispersion strengthened alloys. therefore, this factor is also projected to influence the market revenue over the coming years.  Moreover, the goal of ongoing research and development is to improve the oxidation resistance and creep behavior of ODS alloys, among other features. These developments create fresh chances for market expansion.


Oxide Dispersion Strengthened (ODS) Alloys Market
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Oxide Dispersion Strengthened (ODS) Alloys Sector: Growth Drivers and Challenges

  • Growing Demand for Wind Energy - Wind power generation reached over 2,111 TWh in 2022, rising by a record about 264 TWh (up over 13%).  Moreover, when it comes to the cost of producing electricity, onshore wind farms are far more affordable than non-renewable energy sources like gas, coal, or nuclear power. However, since most renewable energy installations are situated in hostile climates, outdoor connections are typically made to withstand water and UV rays as well as extreme temperatures. As a result, the deployment of ODS alloy is surging.
  • Surging Space Activities - ODS alloys were initially created to improve mechanical qualities (such as creep resistance, tensile strength, and microstructure integrity) at high temperatures. These alloys contain dispersed nanoscale ceramic particles within the metal. These alloys therefore exhibit potential for use as metal parts in, gas turbines, rocket engines, and other high-temperature applications. Hence, the utilization of ODS alloys is growing in space launch. For instance, through the use of 3D printing, NASA researchers have created a new metal alloy that significantly increases the strength and durability of parts and components used in space exploration and aviation, leading to better and longer-lasting performance. In comparison to current state-of-the-art alloys, NASA Alloy GRX-810, an oxide dispersion strengthened (ODS) alloy, is more malleable, able to withstand temperatures exceeding 2,000 degrees Fahrenheit, and has a lifespan that is more than 1,000 times longer. As a result, the oxide dispersion strengthened alloys market is growing.
  • Microstructural Properties of Oxide Dispersion Strengthened (ODS) Alloys - ODS alloys are becoming more and more in demand in the worldwide alloy market due to their superior mechanical and microstructural characteristics. The microstructural properties of alloys strengthened by oxide dispersion provide them with increased strength. ODS alloys' performance is enhanced by their microstructural characteristics, which makes it possible for them to be utilized in high-strength applications. Manufacturers in the aerospace and marine industries are expected to benefit greatly from these anticipated major commercial possibilities for oxide dispersion-reinforced alloys.

Challenges

  • High Cost of Production - Complex procedures, including consolidation methods and mechanical alloying, are used in the production of ODS alloys. Increased production costs from these procedures may act as a brake on market expansion.
  • Lack of Availability of Raw Material - Certain raw resources, such as oxide powders and refractory metals, are needed to make ODS alloys, but their supply may be restricted. Therefore, the oxide dispersion strengthened (ODS) alloys market expansion may face obstacles due to the unavailability of certain materials.
  • Strict Regulations for Utilization - There are strict rules in place for industries like nuclear power generation and aircraft. A challenge for producers of ODS alloys may be adhering to these rules and acquiring the required certifications.

Oxide Dispersion Strengthened (ODS) Alloys Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~5%

Base Year Market Size (2023)

~ USD 7 Billion

Forecast Year Market Size (2036)

~ USD 12 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Oxide Dispersion Strengthened (ODS) Alloys Segmentation

Type (Iron-Based ODS, Nickle-Based ODS, Chromium-Based ODS, Aluminum-Based ODS, Others)

The aluminum-based ODS segment is predicted to account for 40% share of the global oxide dispersion strengthened alloys market during the forecast period. Excellent heat resistance and conductivity are characteristics of aluminum oxide dispersion. With its high conductivity, it remains firm even under extreme heat. ODS has high strength and high conductivity characteristics that set it apart from other copper alloys. As a result, it has been utilized as an electrode material for resistance welding and spot welding of electric vehicles, relay contacts, and different electronic parts, including heat-resistant substrates, and so on. Hence, further with the growth demand for electric vehicles, the segment is surging. For instance, Global sales of electric vehicles exceeded about 9 million in 2022, and this year's sales are predicted to increase by another over 34% to approximately 13 million. The dispersion of oxide and other particles is one reason why aluminum-based ODS alloys have improved creep resistance.

End-Use Industry (Aerospace, Marine, Chemical, Energy, Others)

The aerospace segment is predicted to account for 40% share of the global oxide dispersion strengthened (ODS) alloys market during the forecast period. The increasing need for commercial aircraft is driving the aerospace segment’s strong expansion. The increased middle-class population is another major factor driving this demand boom, which is especially noticeable in emerging markets and results in higher passenger travel. Additionally, the military aerospace industry is stimulated by the continuation of geopolitical tensions and increased global defense spending. Globally, governments place a high priority on improving their military capabilities, which drives the market for cutting-edge aircraft and defense technologies. Furthermore, many companies are entering the commercial space travel market, which means that there are interesting economic opportunities in the developing space tourism sector. As this industry develops further, there is expected to be a greater need for spacecraft and sophisticated propulsion systems, which will propel expansion in the larger aerospace market. Hence, all these factors are estimated to boost the aerospace segment which in turn is poised to boost the market revenue. 

Our in-depth analysis of the global market includes the following segments:

          Type

  • Iron-Based ODS
  • Nickle-Based ODS
  • Chromium-Based ODS
  • Aluminum-Based ODS
  • Others

          Application

  • Turbine
  • Space Launch Systems
  • Nuclear Reactor
  • Chemical Processing System

          End-Use Industry

  • Aerospace
  • Marine
  • Chemical
  • Energy
  • Others

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Oxide Dispersion Strengthened (ODS) Alloys Industry - Regional Synopsis

APAC Market Forecast

Oxide dispersion strengthened (ODS) alloys market in Asia Pacific region is poised to capture the highest revenue share of about 35% over the coming years. This growth is set to be dominated by the rising use of ODS alloys in the marine industry. The Asia-Pacific area serves as a global hub for maritime trade since it is home to some of the busiest ports and shipping routes in the world. For instance, Asia accounted for 42% of exports and 64% of imports in 2021, making it the top maritime freight handling hub in the globe. As a result, with the growing marine, industry the market for ODS alloys is also set to rise. Additionally, the government in this region is rigorously investing in developing renewable energy which is additionally major factor in the growth of the market. 

European Market Analysis

Oxide dispersion strengthened (ODS) alloys market in European region is also estimated to have notable growth in the coming years. This growth of the market in this region is set to be influenced by the growing chemical industry. One of the largest manufacturing industries in Europe is the chemicals sector. Furthermore, the adoption of ODS alloys is seen to be highest in Europe’s chemical industry which is why the market is expected to surge over the coming years.

Research Nester
Oxide Dispersion Strengthened (ODS) Alloys Market size
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Top Featured Companies Dominating the Oxide Dispersion Strengthened (ODS) Alloys Landscape

top-features-companies
    • Alcoa Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • VDM Metals
    • CRS Holdings, LLC
    • Precision Castparts Corp.
    • Sandvik AB
    • POSCO
    • Tata Steel
    • ArcelorMittal
    • Constellium Group
    • Outokumpu  

In-the-news

In The News

  • With the condition that a scheme implementation agreement be signed, Alcoa announced that it has reached a deal with Alumina Limited regarding the conditions and procedure for the purchase of Alumina Limited.
  • After obtaining approval from the US, European, and Taiwanese competition authorities, Acerinox officially completed the acquisition of VDM Metals.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5869
  • Published Date: Mar 11, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are the growing demand for wind energy, surging space activities, and microstructural properties of oxide dispersion strengthened (ODS) alloys.

The market size of oxide dispersion strengthened (ODS) alloys is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Alcoa Corporation, VDM Metals, CRS Holdings, LLC, Precision Castparts Corp., and others.

The aerospace segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
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