The SUS-AL-alloy clad metals market is anticipated to reach USD 8.0 billion in 2021 and USD 11.4 billion by 2032, growing at a CAGR of 6.3% over the few years.
Drivers of the SUS-Al-alloy Clad Metals Market
The drivers of the SUS-Al-alloy Clad Metals Market are its advantages over other metals, such as low weight, high strength, and resistance to corrosion. The other drivers are easy processing and joining. The major limitation is the high price of SUS-Al-alloy Clad Metals compared to other metals.
With the increasing demand for lightweight materials coupled with the requirement of a corrosion resistant surface, there is a wide range of opportunities in the SUS-Al-alloy Clad Metals market. Also, the rising industrial automation can lead to an increased demand for robots that require stainless steel aluminium alloy clad metals due to their higher strength and corrosion resistance. Another significant opportunity for SUS Al alloy clad metals market players lies in providing new solutions for cladding in several industries such as oil and gas, chemical plants, food & beverage industry etc. With more global companies getting interested in adopting this technology to save time and money on frequent replacement of equipment’s.
Advantages of the SUS-Al-alloy Clad Metals Market
Some of the advantages of SUS-Al-alloy Clad Metals Market are:
• Suitable for high-temperature applications.
• Can be used for heat exchangers and condensers.
• Excellent corrosion resistance.
• Good weldability and formability.
Market Value and CAGR of the SUS-Al-alloy Clad Metals Market 2021-2032
The market Value and CAGR of the SUS-Al-alloy Clad Metals Market is expected to grow at a CAGR of 5.6% during the forecast period of 2021-2032. The expected growth rate is based on the average of the past five years and the current trends contributing to market growth.
The total value of SUS-Al-alloy Clad Metals Market in 2022 was USD 7,515 million and is expected to reach USD 11,845 million by 2032.
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SUS-Al-alloy clad metals are high strength, corrosion resistant, and strong weldability. SUS-Al-alloy clad metals have wide range of applications in industries such as aerospace & defence, chemical & petrochemical processing and medical devices among others where great resistance to wear or abrasion is an essential property for the materials used for such purposes. They can be welded with conventional methods like tungsten inert gas (TIG) welding without any preheating or post heating requirements.
Challenges in the SUS-Al-alloy Clad Metals Market
The challenges of the SUS-Al-alloy Clad Metals Market are as follows:
High cost of the product is a major challenge for the market growth
Availability of low-cost substitutes may hamper the market growth in the coming years
Key Players in the SUS-Al-alloy Clad Metals Market
Some of the key players in the SUS-Al-alloy Clad Metals Market are McDaniel Advanced Ceramic Technologies, Schmalz + Biedenbach AG, Nippon Steel & Sumitomo Metal Corporation, Henan Join-Win I’m/Ex Corp., and KOBELCO.
Segment Analysis by type, application, end user and region
The most demanded product in the SUS-Al-alloy Clad Metals Market is SUS316/Al5083. The SUS316/Al5083 is demanded for its excellent corrosion resistance, high strength, and weldability. It is used in chemical processing, food and beverage, and construction equipment industries where it comes into contact with oxidizing agents such as nitric acid.
The market by application segment is bifurcated into Chemical Processing Equipment, Food & Beverage Processing Equipment, Marine Construction Equipment, Heat Exchangers & Coolers, Others (Construction and Industrial Machinery). The chemical processing equipment segment held the largest share of the SUS-Al-alloy clad metals market due to the increasing use of clad metals in the chemical industry for storage tanks construction.
By end user, the SUS-Al-alloy clad metals market is classified into Chemical Industry, Food & Beverage Industry, Marine Construction, Heat Exchangers and Coolers, Others (Construction & Industrial Machinery). The chemical industry held the largest share of the market due to the increased use of clad metals in storage tanks construction.
APAC is estimated to be the largest SUS-Al-alloy clad metals market in terms of volume and value during the forecast period. In APAC region, especially in China and Japan most of the stainless-steel companies are adopting a new production process for manufacturing SUS-Al-alloy clad metals. This adoption is anticipated to result in lower product cost which will boost the growth of this region during forecast period.
Impact of Covid-19
Covid-19 has had a significant impact on the SUS-Al-alloy clad metals market. The demand for SUS-Al-alloy clad metals has declined sharply as a result of the economic slowdown and the decline in end-use industries such as cookware, transport, and electronics.
The Covid-19 pandemic has resulted in a sharp decline in demand for SUS-Al-alloy clad metals globally. The market was already facing challenges due to the trade war between the US and China and the slowing global economy. However, the outbreak of Covid-19 has exacerbated these problems and led to a sharp decline in demand for SUS-Al-alloy clad metals.
The electronics industry is another major end use industry for SUS–Al alloy clad metals. The global semiconductor market, which is a key component of the electronics industry, has been impacted by weakening demand from the automotive and industrial
Key developments in the SUS-Al-alloy Clad Metals Market 2019-2022
In January, 2018, Alaris Corporation (US) and Nippon Steel & Sumitomo Metal Corporation (Japan) announced the completion of their transaction to jointly own a new aluminium-lithium facility in Lafayette, Indiana.
In June 2018, Sumitomo Electric Industries, Ltd. (Japan) completed the acquisition of 100% of the common stock of Interconnect Solutions (ISI).
In November 2017, Hydro Aluminium North America, Inc. (Norway), and Sumitomo Chemical Co., Ltd. (Japan) announced an expansion of their joint venture agreement with the construction of a new production plant for ASU electrolyte at the existing ESM site in New Carlisle, Indiana.
SUS-Al-alloy Clad Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 11,845 million |
| Growth Rate | CAGR of 5.6 % during 2022-2032 |
| Segment Covered | Type, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | McDaniel Advanced Ceramic Technologies, Schmalz + Biedenbach AG, Nippon Steel & Sumitomo Metal Corporation, Henan Join-Win I’m/Ex Corp., and KOBELCO. |
Key Segments of the SUS-Al-alloy Clad Metals Market
Type Overview, 2021-2031 (USD Billion)
• Bilayer Structure
• Three-layer Structure
Application Overview, 2021-2031 (USD Billion)
• Cookware
• Transport
• 3C Electronics
• Others
Regional Overview, 2021-2031 (USD Billion)
North America
• U.S
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
• Middle East and South Africa
Frequently Asked Questions (FAQ) :
The global SUS-Al-alloy Clad Metals market size is expected to reach USD 11,845 million in 2032.