17-Sep-2019 | Zion Market Research
Zion Market Research has published a new report titled “Nickel Alloy Market By Function (Heat Resistant, Corrosion Resistant, High Performance, and Electronic) and By End-User (Aerospace & Defense, Oil & Gas, Electrical & Electronics, Energy & Power, Chemical, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global nickel alloy market was USD 12.65 billion in 2018 and is expected to reach around USD 16.54 billion by 2025, at a CAGR of 3.9% between 2019 and 2025.
Nickel alloys have versatile properties like heat resistance, corrosion resistance, chemical resistance, and electronic resistance. They are also used in turbines in power generation, aircraft gas turbines, aircraft parts, marine fasteners, etc. Nickel alloy is a flexible material that is used across different industries, such as electronics, energy and power, pulp and paper, oil and gas, defense, and automotive.
Browse the full “Nickel Alloy Market By Function (Heat Resistant, Corrosion Resistant, High Performance, and Electronic) and By End-User (Aerospace & Defense, Oil & Gas, Electrical & Electronics, Energy & Power, Chemical, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/nickel-alloy-market
The global nickel alloy market is expected to grow rapidly, owing to the rising demand for high-performance nickel alloy from various end-user industries, mainly from oil and gas and aerospace and defense industries. Nickel alloys are majorly used in the aerospace industry for engine production. The aerospace and defense sector is expected to hold the largest share in this market over the forecast timeframe, due to the growing number of aircraft deliveries. However, the volatility in raw material prices may hamper this market’s growth. Furthermore, the sudden rise in automotive sales, particularly in the emerging economies, is expected to offer additional growth opportunities for the nickel alloy market in the years ahead.
The global market for nickel alloy is fragmented based on function and end-user. By function, the nickel alloy market includes heat resistant, electronic, high performance, and corrosion resistant alloys. The high-performance alloys are estimated to lead the nickel alloy market in the future, owing to the rising demand for nickel alloys, mainly from oil and gas, aerospace and defense, and chemical industries. High-performance alloys are heat-resistant alloys, made from nickel and iron, which perform exceptionally well at extreme temperatures and pressures. Based on end-user, the market is classified into oil and gas, chemical, aerospace and defense, energy and power, automotive, electrical and electronics, and others. There has been a huge demand for nickel alloys for manufacturing aircraft components like blades, exhaust systems, and engine components, which is fuelling the aerospace and defense segment. Increasing civil and military aircraft production is expected to further supplement this segment’s growth in the upcoming years.
The Asia Pacific dominated the nickel alloy market globally in 2018 and is expected to grow at the fastest rate in the future. This can be attributed to the region’s flourishing automotive, aerospace and defense, and energy and power sectors. India, South Korea, China, and Japan are the major contributors in the nickel alloy market. North America, over the forecast timeframe, is anticipated to contribute significantly to this global market. Latin America is expected to witness lucrative market growth over the forecast time period, owing to rapid industrialization in Brazil.
Some key manufacturers operating in the nickel alloy market are ThyssenKrupp, Sandvik Material Technology, Haynes International, Precision Castparts, Allegheny Technologies, Aperam, Carpenter Technology, VDM Metals, Ametek, Rolled Alloys, Kennametal, and Columbia Metals.
This report segments the global nickel alloy market into:
Global Nickel Alloy Market: Function Analysis
Global Nickel Alloy Market: End-User Analysis
Global Nickel Alloy Market: Regional Analysis
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