Medium Entropy Alloys Industry - Regional Synopsis
North American Market Forecast
The medium entropy alloys market in North America industry is set to hold largest revenue share of 35% by 2037. The growth of the medium entropy alloys market can be attributed majorly to the rapidly booming aerospace industry in the region. The Aerospace Industries Association (AIA) is the leading manufacturer of America’s space industry’s requirements. There are around 320 member companies in the AIA that are dedicated as the designers, launch providers, operators, manufacturers, and designers of civil, national security, and commercial satellites and space vehicles. Furthermore, the growing investment by major aerospace companies in updating the models of aircraft.
APAC Market Statistics
The Asia Pacific region is expected to account for 28% share of the global medium entropy alloys market by 2037. The growth of the market can be attributed majorly to the rising industrialization and hastily moving towards urbanization that has also increased the infrastructural development. The regional market is dominated by developing economies such as India and China. The huge increase in automotive manufacturing and the expansion of the aerospace industry are driving factors for the medium entropy alloys market. In December 2022, China Motor Vehicle Production was reported to be around 27 million units. This is an increase over the previous statistic of nearly 26 million units for December 2021.
