Market Value & Growth Projections
Market Insights:
Current value: US$ 2.77 billion (2024)
Projected value: US$ 4.07 billion by 2032
CAGR: 4.9% (2025-2032)
Key Market Drivers:
Lightweight automotive components (15-20% weight reduction)
Aerospace superalloy applications
Electric vehicle manufacturing (magnetic composites)Industry 4.0 adoption
Medical device sector expansion
Construction equipment components
Market Segmentation
By Application
Key Market Players
The Miba Group
