The new report by Expert Market Research titled, ‘Global Non-Magnetic Metals and Alloys Market Price, Report and Forecast 2021-2026’, gives an in-depth analysis of the global Non-Magnetic Metals and Alloys market, assessing the market based on its segments like products, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 5%
The worldwide demand for non-magnetic metals and alloys is rising due to the development of the aviation transport industry and other transport and structural materials. Moreover, constructive government acts such as the United States ‘National Space Policy’ in June 2010 and several other programmes, led to increased consumption of non-magnetic metals and alloys by increasing numbers of aircraft and spaceships. A variety of non-magnetic metals & alloys are also used as parts of different metal alloys in construction materials.
Industry Definition and Major Segments
Metals that do not attract magnets are called non-magnetic metals. They are mostly non-ferrous meaning they are not iron based/do not contain iron which contributes to the magnetic property of the ferrous metals. Precious and rare metals are also non-magnetic metals. Non-magnetic metals are found in the earth as chemical compounds and a mixture of these metals is called a non-magnetic alloy.
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Based on product type, the market is divided into:
- Non-ferrous Metals
- Precious Metals
- Exotic or Rare Metals
Based on applications, the industry can be categorised into:
- Industrial Gas and Turbine
- Electrical and Electronics
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The growth of aerospace industry, construction equipment, plastic acid battery, bullets and radiation safety devices is leading to the growth of the non-magnetic metals and alloys market. Demand for inert chemicals and corrosion resistant corrosion products is expected to increase growth in the chemical processing industry in the coming years. In nature, non-magnetic metals and alloys are also highly recyclable and allow non-magnetic metals and alloys to be manufactured in addition. The goods are widely used in various regions and industries, fostering world demand and thus accelerating market development.
North America is the largest non-magnetic metals and alloys market, followed by Europe, Asia Pacific and rest of the world. Asia Pacific is expected to witness the highest growth rate due to increasing aviation industry. The fastest growing aviation markets in the world, currently, are India, China, Indonesia, and Vietnam. The Indian aviation industry’s growth rate is expected to double every five years for the next 15 years as per the prime regulatory body for the Indian aviation industry.
Key Market Players
The major players in the market are Belmont Metals Inc., Saru Smelting Pvt. Ltd., Nippon Yakin Kogyo Co., Ltd., Australian Metals Pty Ltd., Lee Kee Group Limited, Gravita India Limited, among Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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