Medium Entropy Alloys Market Trends

Growth Drivers

• Growing Demand for Lightweight Material - Medium entropy alloys (HEAs) are a novel class of engineering materials with outstanding mechanical properties and low weight for prospective uses in the structural and transportation sectors. The world has latterly put a lot of emphasis on energy efficiency; therefore, research has also placed a strong focus on integrating lightweight medium entropy in order to improve energy efficiency in a variety of applications. For instance, Spain has intended to spend around USD 3 billion on the project of energy renovation and development the one-stop offices. Moreover, many nations have made similar announcements to achieve energy efficiency.
• Biocompatibility of Medium Entropy Alloys - Recently researchers all across the world have discovered the biocompatible nature of medium entropy alloy, which means the material does not cause any adverse reaction on coming in contact with skin tissues. Moreover, they have great mechanical properties which makes medium entropy alloys highly suitable as a base material in implants and medical devices. However, the complete potential of this material in the medical sector is being researched and its usage is at a budding stage. The advancing science and development of unique implants are likely to bring lucrative opportunities in this field.
• Growing Research and Development of Material - Research professionals and manufacturing companies are investing a lot of time and funds in studying the application and unique properties of medium entropy alloys. Composition design is an important trend in Medium Entropy Alloys utilized for specialized purposes. The researchers are working towards the integration of medium entropy alloys with other materials to advance the composition. It is done to attain the desired qualities and optimize the processing technology, research is being conducted to improve the durability and corrosion resistance of the material. The development in the medium entropy technology has enabled the development of new compositions that will notably improve the ways of manufacturing.

Challenges

• Competition From the Alternatives of MEA- There are various alternatives of medium entropy alloys available in the market, such as traditional alloys, high entropy alloys, amorphous alloys, intermetallic compounds, composites nanomaterials, ceramics, and others. Some of them replicate exactly the same properties of the medium entropy alloys. For instance, intermetallic compounds, such as nickel aluminides and titanium aluminides are employed efficiently with high temperatures and thus can be a great alternative to MEA in the automotive and aerospace industry. Furthermore, low-eight ceramics and nanomaterials, such as nanocomposites and nanoparticles have several unique properties, such as lightweight, and can be suitable alternatives for specific applications. Ceramics are especially useful in application where light weight, electrical insulation, and high retardance to temperature is important.
• Lack of well-established supply chain
• Lack of awareness of the material in low and middle-income countries