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CHEMICALS AND ADVANCED MATERIALS

Superplastic Alloys Market Segmentation By Substrate Material (Aluminum Alloy, Aluminum Metal Matrix Composites, Nickel based Alloys, Iron based Alloys, Magnesium based Alloys, Titanium Alloys and Others); By Superplasticity Mechanism (Microstructural and Dynamic); By Superplastic Forming Method (Pneumatic Forming, Hydroforming & Dieless Forming); By Application (Aerospace Industry, Automotive Industry, Medical, Sports and Others) – Global Demand Analysis and Opportunity Outlook 2028

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • October 2018: Norsk Hydro ASA introduced three new aluminum alloys specifically for hot metal forming of aluminum sheet that are used for manufacturing complex automotive components. Every alloy offers properties that surpass the strengths of the alternatives currently available in the market. The aluminium alloys produced by Hydro were two years in the making and are called advanced alloys for superplastic forming.

  • October 2018: Astorg and the shareholders of Aries Alliance announced that Astorg has completed the takeover of a majority stake in Aries Alliance. Aries Alliance is a world pioneer in advanced metal forming and milling technologies for the aeronautics sector, providing its customers specialized metal forming machines and mission critical parts.

Introduction to Superplastic Alloys

A superplastic alloy is an alloy that exhibits properties of superplasticity, a condition in which the alloy or a rigid crystalline substance is deformed at a certain temperature beyond its normal breaking point. This temperature is defined as the superplastic temperature (Ts), which often varies from 40 to 70 per cent of the alloy melting point (Tm). This alloy can be expanded to over two times of its original dimension. It comprises a substrate, which is the metallic bonding material, and one or more alloying elements, which are metals or nonmetals that alter the bonding metal properties.  

Market Size and Forecast

The superplastic alloy market is estimated to attain a robust CAGR during the forecast period, i.e., 2020-2028. One of the key reasons for this is the growing demand for superplastic alloy components in the aerospace industry, backed by the numerous benefits associated with superplastic alloys. Additionally, superplastic alloys are preferred for use across different end user industries owing to its numerous properties, such as that it can be designed into complex shapes in a single process, along with low weight and shorter production time. The market is segmented by substrate material, superplasticity mechanism, superplastic forming method and application. Based on the substrate material, it is further segmented into aluminum alloy, aluminum metal matrix composites, nickel-based alloys, iron-based alloys, magnesium-based alloys, and titanium alloys. Among these, the aluminum alloy segment accounts for the highest market share on account of their low density and high specific strength coupled with outstanding corrosion resistance properties. In addition, aluminum alloy is the most widely used alloys in aerospace, mechanical manufacturing, automobiles sector, marine business, and chemical industry.

Superplastic Alloys Market Graph

Growth Drivers

Extensive use of Titanium Alloys in SPF formed parts

Titanium alloys are the most commonly used element in SPF-formed parts. It is primarily used for casings and hot parts around engines, ducts handling hot air, exhaust nozzles and engine components in fan, compressor, and auxiliary systems. Its extensive use is anticipated to drive the superplastic alloy market growth all around the world during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT 

Exceptional Properties of Aluminum Alloys

Superplastically formed (SPF) aluminum alloys when heated to between 470-520°C are capable of being extended to several times their original size. This superplasticity of aluminum alloys enables the components to be molded to any required shape by applying air pressure and tool movement motion inside custom-designed shaping machines. Therefore, the procedure effectively blends the enhanced design freedom of vacuum-formed plastics with all the material benefits. Aluminum alloys are largely used in industries namely aerospace, automobiles, marine, and chemical industry and many others. 

Restraints

Slow rate of forming

The superplastic forming process is extremely slow when compared to conventional alloys. As a result, the slow forming process raises the cost of manufacturers, which is anticipated to hinder the market growth worldwide.

High Cost of Super Plastic Alloy

Super plastic alloys are expensive. It raises the overall procurement cost of end users of superplastic alloys which is likely to limit the superplastic alloy market growth all over the world during the forecast period. Moreover, unfavorable conditions arising owing to sudden outbreak of COVID-19, which is largely impacting transfer of goods and production units worldwide is likely to limit superplastic alloy market growth.

Market Segmentation

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

By Substrate Material

  • Aluminum Alloy
  • Aluminum Metal Matrix Composites
  • Nickel based Alloys
  • Iron based Alloys
  • Magnesium based Alloys
  • Titanium Alloys
  • Others

By Superplasticity Mechanism

  • Microstructural Superplasticity
  • Dynamic Superplasticity

By Superplastic Forming Method

  • Pneumatic Forming
  • Hydroforming
  • Dieless Forming

By Application

  • Aerospace Industry
  • Automotive Industry
  • Medical
  • Sports
  • Cookware
  • Architectural
  • Others

By Region

Based on the region-wise analysis, the superplastic alloy market is segmented into five significant zones including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

Among these regions, the market in North America is estimated to have a significant share in the superplastic alloy market owing to increasing demand of aluminum alloy in aerospace industry. Moreover, presence of numerous key players in the aerospace industry in the region is also one of the major factors which is anticipated to raise the demand for aircraft components, and therefore the increase in demand for superplastic alloys for manufacturing those components.

On the other hand, the superplastic alloy market in Asia Pacific is projected to witness significant growth owing to the rising demand of superplastic alloy in numerous end user industries in nations such as China, India, Japan and others.

The global superplastic alloy market is further classified on the basis of regions as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

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