Fusion Technology Advanced Materials Market

WILMINGTON, DELAWARE, USA, FEBRUARY 2023 (Global Newswire) — Transparency Market Research Inc. – According to a study published by Transparency Market Research, the global Fusion Technology Advanced Materials Market It is expected to grow at a CAGR of 6.0% from 2022 to 2031.

Nuclear fusion technology produces large amounts of energy by using small amounts of tritium and deuterium mixtures. Besides deuterium and tritium, some other metals and alloys used include tungsten, beryllium, vanadium-based alloys, and silicon carbide composites.

The introduction of new materials is likely to help established market players generate revenue and gain an edge over their competitors. Prominent market players are collaborating with other players to expand their market presence and increase their revenue share.

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Key Findings of the Market Research

• Demand for titanium has surged in end-use industries: Titanium is highly resistant to corrosion. As such, it has become a key metal in different end-use industries, such as aerospace, where it has been used for replacement joints, and the oil and gas industry, which is prone to corrosion. It is also used in power plants. Titanium is becoming a key material for nuclear fusion technology. These factors are driving the market.
• Increased need for magnetic confinement: Based on technology, the global market has been segmented into magnetic confinement and inertial confinement. The magnetic confinement segment holds the dominant market share in 2021. The magnetic field prevents the particles from colliding with the walls of the nuclear reactor, which could cause the heat inside the reactor to evaporate and slow down processes inside the reactor. This has led to an increased demand for magnetic confinement techniques.

Nuclear Fusion Technology Advanced Materials Market – Key Drivers

• Increased need to reduce reliance on non-renewable energy generation is driving advanced materials in the global nuclear fusion technology market
• Increasing support from governments across the world for the development of clean and climate-resilient infrastructure is likely to drive the growth of the industry in the coming years

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Nuclear Fusion Technology Advanced Materials Market – Regional Pattern

• North America accounted for the dominant market share in 2021. This trend is likely to continue during the forecast period. Growing demand for advanced materials in countries such as the U.S. and Canada is expected to expand the market size in the region.
• The market in Asia Pacific is expected to witness significant growth in the near future owing to increasing demand for non-polluting fuels in countries such as India and China. Due to the availability of resources such as land and labor, leading manufacturers are focusing on establishing production units and R&D centers for advanced materials in Asia Pacific countries.
• The Middle East and Africa are likely to witness strong growth in the future due to rising investment in fusion technology in the UAE and Saudi Arabia

Fusion Technology Advanced Materials Market – Key Companies

The global market is consolidated and a small number of players exist. The entry of new companies into the market is likely to intensify competition in the near future.

Reputable players may invest in research and development activities to create improved materials that meet customer requirements. Increased demand for improved materials is likely to boost the market.

Few players in the market are Almonty, ATI Inc., Buffalo Tungsten Inc. and Materion Corp.

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The global market is segmented as follows:

Material

• tungsten
• beryllium
• Vanadium based alloy
• Silicon carbide composites
• others

technology

• magnetic confinement
• inertial constraints
• others

area

• North America
• Latin America
• Europe
• Asia-Pacific
• middle east and africa

About Transparency Market Research

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