Oxide Dispersion Strengthened Alloys Market Trends

Growth Drivers:

• Growing demand from aerospace applications: Growth in the aerospace sector, which has a strong demand for lightweight and high-strength metals that are resilient in extreme environmental conditions, is one of the major factors driving demand for ODS alloys. Advanced development of ODS alloys has been typically carried out by various aerospace manufacturers to achieve better performance with higher fuel efficiency. Since aerospace manufacturers are focusing on fuel economy and performance, the demand for ODS alloys is likely to increase and, hence, may provide significant growth opportunities.
• Latest additive manufacturing techniques: Emerging additive manufacturing techniques have spurred growth in industries that rely on ODS alloys. These manufacturing techniques have improved the production capability, as well as opened up new perspectives for developing new material designs. Companies like the US-based 3D systems group express their interest in conducting further research for the development of ODS alloys for additive manufacturing applications.
• Government initiatives and funding: The government's initiatives concerning the development of materials research and development have been very substantial in driving the oxide dispersion strengthened alloys market. The European Union has also started several funding programs connected to research into new innovative materials, including ODS alloys. As a result, such initiatives are likely to drive ODS alloys market expansion during the forecast period.

Challenges:  

• Processing difficulty: ODS alloy processing is a formidable task and, therefore, may pose serious problems to manufacturing companies. Overcoming such technical challenges is of paramount importance for the wide use of ODS alloys in many further applications. Apart from that, there is still a lack of test standards on the material, which creates obstacles for use in critical industries.
• Regulatory barriers: There are some regulatory hurdles that the oxide dispersion strengthened alloys market players need to overcome, which could impede their growth. For instance, ODS alloys are a costly investment and other resources to meet strict safety and performance parameters in industries such as aerospace and nuclear energy. In addition, the international regulatory environment can be challenging for companies interested in venturing into new territories. As a result, there is an urgent need for broad-based simplification of the regulatory compliance burden.