Superplastic Alloys Market Size

Superplastic Alloys Market size is poised to reach USD 40 billion by the end of 2036, expanding around 12% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of superplastic alloys was over USD 17 billion. The major factor to influence the sector growth is the growing demand for lightweight materials in the automotive sector. Lightweight materials possess a lot of potential for enhancing vehicle efficiency since they requires less energy to accelerate a lighter item than a heavy one. A 6%–8% increase in fuel efficiency might be obtained with a 10% decrease in vehicle weight.

Moreover, due to superplastic formation, car manufacturers are able to produce intricate parts made of thin and lightweight materials without having to break the budget. This is done by replaying cast iron and conventional steel components with lightweight alternatives including high-strength steel, magnesium (Mg) alloys, aluminum (Al) alloys, and more. This may instantly decrease a vehicle's body and chassis weight by up to 50%, which in turn lowers fuel consumption. As a result, the superplastic alloys market is rising.