Non-Magnetic Metals & Alloys Market to Reflect Impressive Growth by 2026

The Non-Magnetic Metals & Alloys Market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Global Non-Magnetic Metals & Alloys Market Dynamics

The market of global non-magnetic metals & alloys is anticipated to be driven by the use of non-magnetic metals in different industries and their respective purposes. Due to growth of aviation industry and other transportation and structural materials, the global market of non-magnetic metals & alloys are growing in demand. In addition, the favorable Government initiatives such as “The National Space policy” of United States on June, 2010 and many others programmes help in the consumption of more non-magnetic metals & alloys over the years due to increased number to aircrafts and spaceships. Some of the non-magnetic metals & alloys are also used in building materials and also as a component of various metal alloys. Due to growth of the construction equipment, lead acid batteries, bullets and radiation protectors, the non-magnetic metals & alloys such as lead is highly used in demand of late. The demand for corrosion chemically inert and corrosion resistant products in chemical processing industry is expected to drive the market growth over the predictable period. Also the non-magnetic metals & alloys are highly recyclable in nature which further encourages the growth of non-magnetic metals and alloys. The global non-magnetic metals & alloys market is characterized by continuous mergers, acquisitions and product innovations to gain market share and competitive edge which drives the demand for the product worldwide. The jewelry industry involving precious metals other than gold, is expected to drive the Non-Magnetic Metals market to some extent. The industry is expected to get advantage from the rising magnesium mining and growing extraction of other metals such as titanium, which are used as raw materials for the production of alloys.

However, the global non-magnetic metals & alloys being costly as compared to magnetic metals and alloys does have a hindering effect on its market growth as well. On the mining operations front, the non-magnetic metals and alloys mining are currently experiencing a sluggish production rate.

Global Non-Magnetic Metals & Alloys Market: Regional Outlook

Geographically, the Global non-magnetic metals & alloys industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. North America holds the largest share in the global non-magnetic metals & alloys market. It is expected to witness a substantial growth at a CAGR of over 3.5% in the forecasted period of 2016-2026. Europe holds the second largest market in terms of global non-magnetic metals & alloys, followed by Japan, Asia-pacific, Middle-East Africa and then rest of the world. Asia Pacific is expected to witness above average growth rates over the next six to eight years owing to the growing aviation industry combined with increasing demand for high durability metals in gas turbines and electrical & electronics.

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Global Non-Magnetic Metals & Alloys Market Players

The major players identified across the value chain of global non-magnetic metals & alloys market includes Saru Smelting Pvt Ltd., Lee Kee Group, James Coppell Lee, North Ferrous Cast Alloys Inc., Gravita India Ltd.,Australian Metals Pty Ltd., Nimax, Arcotech Ltd., AMPCO Metal Sa, Plansee Group and others. The companies are investing in their research & development sector to use more and more non-magnetic metals & alloys in aerospace industry. The companies are also focusing on different strategies in order to maintain the market share in the global non-magnetic metals & alloys market.

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