Metal Alloys Market Report 2026

The metal alloys market size has grown strongly in recent years. It will grow from $329.63 billion in 2025 to $349.97 billion in 2026 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to growth of construction and infrastructure activities, rising demand from transportation industry, expansion of electrical and heating equipment manufacturing, increased production of stainless steel and aluminum alloys, development of rolling and casting technologies.

The metal alloys market size is expected to see strong growth in the next few years. It will grow to $437.1 billion in 2030 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing adoption of electric vehicles, rising investment in renewable energy infrastructure, growth in advanced machinery manufacturing, expanding use of specialty alloys in aerospace applications, increasing demand for recyclable and sustainable alloy materials. Major trends in the forecast period include rising demand for high-strength and heat-resistant alloys, increasing use of metal alloys in electrical heating applications, growth of lightweight alloy adoption across transportation sector, expansion of corrosion-resistant alloy usage in construction, rising focus on alloy performance optimization and durability.

Rapid urbanization is anticipated to drive the expansion of the metal alloys market in the coming years. Urbanization refers to the process of increasing population density in cities or the percentage of a country's population residing in urban areas compared to rural regions. Metal alloys play a crucial role in urbanization by enabling the construction of strong, durable, and efficient infrastructure that meets the rising demands of urban populations. For example, in 2023, Statbase.org, a US-based global data platform, reported that the global urban population increased from 56.82% in 2022 to 57.26% in 2023, indicating continued urbanization growth and a larger number of consumers living in cities. As a result, rapid urbanization is fueling the growth of the metal alloys market.

Key companies in the metal alloy market are introducing new products such as alloy powder to bolster their profitability within the industry. Metal alloy powder consists of finely divided particles resulting from the combination of two or more metallic elements, typically produced through processes such as atomization, mechanical alloying, or chemical methods. For instance, in October 2023, TANAKA Precious Metals, a Japan-based manufacturer specializing in precious metals, launched high-entropy alloy powder. This powder comprises high-crystallinity precious metal alloy particles, each 10µm or smaller, uniquely blending platinum, palladium, iridium, ruthenium, and rhodium with exceptional composition uniformity. The stability of these alloys arises from their significant crystallite size, ensuring heightened mechanical strength, corrosion resistance, and controlled thermal expansion. Available in powder form, these alloys facilitate versatile applications, including 3D printing and rod forming. Moreover, they can be utilized in paste form for circuitry and sensor applications. The robust properties of high-entropy alloys make them ideal for durable catalysts and heat-resistant conductive films.

In April 2024, Reliance Steel & Aluminum Co., a US-based metal fabrication firm, acquired American Alloy Steel for an undisclosed amount. This acquisition is part of Reliance Steel & Aluminum Co.'s strategy to broaden its market presence, enhance its product portfolio, and improve operational efficiencies. American Alloy Steel is a US-based manufacturer specializing in alloy steel products.

Major companies operating in the metal alloys market report are Pohang Iron and Steel Company, Thyssenkrupp AG, Tsingshan Holding Group Co., Ltd., Shanxi Taigang Stainless Steel Co., Ltd., United Company RUSAL plc, Aperam S.A., Acerinox S.A., Baosteel Stainless Steel Co., Ltd., ATI Specialty Alloys & Components, Jindal Stainless Limited, Carpenter Technology Corporation, Materion Corporation, VSMPO-AVISMA Corporation, Aubert & Duval S.A., Haynes International Inc., Western Metal Materials Co., Ltd., Nippon Yakin Kogyo Co., Ltd., Precision Castparts Corp., QuesTek Innovations LLC, MetalTek International Inc., Guangxi Beibu Gulf New Materials Co., Ltd., IHI Master Metal Co., Ltd.

North America was the largest region in the metal alloys market in 2025. The regions covered in the metal alloys market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metal alloys market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The metal alloys market consists of sales of magnesium alloys, superalloys, and other types. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.