Advanced Materials Market for Nuclear Fusion Technology

Wilmington, Delaware, United States, Feb. 02, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – According to a study published by Transparency Market Research, the world advanced materials market for nuclear fusion technology It is expected to grow at a CAGR of 6.0% from 2022 to 2031.

Nuclear fusion technology produces large amounts of energy using small amounts of a mixture of tritium and deuterium. In addition to deuterium and tritium, some of the metals and alloys used include tungsten, beryllium, vanadium-based alloys, and SiC composites.

The launch of new resources will help established market players generate revenue and gain an advantage over their competitors. The prominent players in the market are collaborating with other players to expand the market and increase the revenue share.

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Key Features of Our Market

• Rising Demand for Titanium in End Industries: Titanium is very corrosive. Therefore, it has emerged as a key metal in a variety of end-use industries, such as aerospace, where it is used to replace joints, and the oil and gas industry, which is prone to corrosion. It is also used in power plants. Titanium is emerging as a key material for nuclear fusion technology. These factors drive market development.
• Increasing demand for magnetic binding: Based on technology, the global market is segmented into magnetic resistance and inertial resistance. The magnetic confinement segment will be the largest segment of the market in 2021. The magnetic field prevents particles from colliding with the walls of a nuclear reactor, which can cause heat to flow through the reactor and slow it down. at work in the reactor. This has increased the demand for magnetic bonding technology.

Advanced Materials Market for Nuclear Fusion Technology – Key Drivers

• The growing need to reduce dependence on non-renewable energy sources to generate electricity is driving the global resources for nuclear fusion technology market.
• Increasing support for the development of smart and climate-friendly infrastructure from governments around the world will drive the industry’s growth in the coming years.

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Advanced Materials Market for Nuclear Fusion Technology – Country Region

• North America will account for the largest share of the market in 2021. This trend is likely to continue during the forecast period. The increasing demand for advanced materials in countries such as the US and Canada is expected to increase the market size in the region.
• The market in Asia Pacific is expected to witness significant growth in the near future due to the high demand for clean fuels in countries such as India and China. Major manufacturers are focusing on establishing production units and R&D centers for advanced materials in Asia-Pacific countries due to the easy availability of resources such as land and labor.
• The Middle East and Africa is likely to witness strong growth in the future due to growing investments in nuclear fusion technology in the UAE and Saudi Arabia.

Advanced Materials Market for Nuclear Fusion Technology – Key Companies

The global market is consolidated, with few players. The introduction of new companies into the market will make competition more intense in the near future.

Popular players tend to invest in research and development to create better products that meet customer needs. The increasing demand for improved materials will further drive the development of the market.

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

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The global market is divided as follows:

Material

• Tungsten
• Beryllium
• Vanadium-based Alloys
• SiC Composite
• The others

Technology

• Magnetic binding
• Inertial Constraints
• The others

Area

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

For Market Transparency Research

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