Corrosion resistant alloys comprise
 variety of alloys used for providing basic and persistent protection
against a wide range of corrosive environments. These come with varying
resistance levels and provide long-term protection against different
types of corrosion such as wet corrosion, crevice corrosion, pitting
corrosion, intergranular corrosion, bimetallic corrosion, and
atmospheric corrosion. Popular corrosion resistant alloys are
iron-based, nickel-based, or cobalt-based are used widely in
safety-critical elements, heat exchangers, pipelines, valves, wellhead
components, and other facility equipment. The extent of protection
depends on several parameters and the optimum one is decided depending
on particular field conditions and environments.

These alloys are extensively used in oil
and gas industry in production and transportation of corrosive gas and
oil and in a number of process industries. Other end-use industries
where they find substantial use are automotive, aerospace & defense,
 and marine. A rise in onshore and offshore oil gas production in
various developing and developed regions is providing a robust and
sustained impetus to the demand for corrosion resistant alloys in
various corrosive environments.

The report offers in-depth evaluation of
factors and trends influencing the growth of the market. It offers a
comprehensive insight covering the key growth drivers, recent advances
in technologies used, share and size of key segments, lucrative avenues,
 and the competitive landscape.

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Global Corrosion Resistant Alloys Market: Trends and Opportunities

A rising demand for corrosion resistant
products in various end-use industries for specific corrosive
environments is a notable factor driving the market. A burgeoning oil
and gas exploration and production sector in developing and developed
regions is a striking trend aiding in the expansion of the market. A
substantial rise in deep-water exploration, drilling technology, and
subsea technology in various parts of the world is a noteworthy trend
providing a robust thrust to the demand for corrosion resistant alloys.
The extensive rise in various testing methods for a correct evaluation
of the suitability of different corrosion resistant alloys is a notable
factor boosting the market. This has led to the production of advanced
as well as reliably-performing corrosion resistant alloys suitable for
specific corrosive environments, which bodes well for the market.

A notably rising aerospace sector is also
 expected to stoke the demand for corrosion resistant alloys. A rise in
onshore and offshore applications of corrosion resistant alloys is also
catalyzing the growth of the market. However, the volatility in the
prices of raw materials is a notable factor likely to adversely affect
the demand for corrosion resistant alloys during the forecast period.
Nevertheless, the rising preference of nickel-based alloys in several
high temperature applications is a noteworthy factor accentuating the
market. Furthermore, the widespread demand for corrosion resistant
alloys in various process industries such as metal mining and refining,
paper and pulp, and plating, is driving the market.

Global Corrosion Resistant Alloys Market: Regional Outlook

The various regional markets for
corrosion resistant alloys can be segmented as Latin America, North
America, Asia Pacific, the Middle East & Africa, and Europe. Of
these, Asia Pacific is rising at a boisterous pace during the forecast
period. The growth is attributed to the ease of availability of raw
materials in economies such as China, Japan, and India. A substantially
rising process industries in various key economies is a key factor
stoking the demand for corrosion resistant alloys in the region.
Meanwhile, the uptake is robust in various countries of North America
and parts of Europe. The growth can be attributed to a widespread demand
 for corrosion resistant alloys in automobile and marine sectors.