17-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Nickel Alloy Market By Type (Heat resistance nickel alloy, Corrosion resistance nickel alloy, Chemical resistance nickel alloy, and High-performance nickel alloy) and By Application (Electronics, Oil &Gas, Automotive, Chemical, Energy &Power, Aerospace, and defense): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Nickel Alloy market in 2019 was approximately USD 72 Billion. The market is expected to grow at a CAGR of 5% and is anticipated to reach around USD 88 Billion by 2026.
Nickel is a flexible chemical element with atomic number 28 and has chemical symbol Ni. Nickel can be alloyed to a number of other metals with several properties, such as chemical, mechanical, and physical. In addition to these factors, nickel alloy also provides properties such as corrosive resistance, high heat resistance, chemical resistance. It also posses extreme corrosion resistance owing to which they are widely used in multiple applications such as oil & gas, energy & power, aerospace & defense, chemical, electronics, automotive and other industries.
Browse the full “Nickel Alloy Market By Type (Heat resistance nickel alloy, Corrosion resistance nickel alloy, Chemical resistance nickel alloy, and High-performance nickel alloy) and By Application (Electronics, Oil &Gas, Automotive, Chemical, Energy &Power, Aerospace, and defense): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/nickel-alloy-market-by-type-heat-resistance-nickel-768
The growing demand for the industries of aerospace and defense is driving the nickel alloy market. As nickel alloy provides hardness, great strength, resistance against corrosion, and other properties, they are widely in demand for manufacturing aerospace components like gears, exhaust liners, jet engines, turbines, and other components. As there is a rapid improvement in aircraft size and growing performance requirements, there is a great demand for nickel alloys in aerospace production. Growing demand for the creation of new aircraft models with better performance features is a vital factor due to which there is bolstering demand for the nickel alloy market. However the rising cost of the raw materials hindering the growth of the nickel alloy market. This fluctuation in the cost results in the price variation of the components which are used in manufacturing the end product resulting in the price hike or price drop of the end product. Nevertheless, the sharp rise in the demand for automobiles in the developing countries of the Asia Pacific region is anticipated to provide ample of good opportunities for the market growth in the forecast period.
The nickel alloy market can be segmented on the basis of type and application. On the basis of type, the market can be segmented into Heat resistance nickel alloy, Corrosion resistance nickel alloy, Chemical resistance nickel alloy, and High-performance nickel alloy. Among all of them, the High-performance nickel alloy is expected to dominate the market as these alloys are heat resistant and they can even withstand extreme temperature and pressure. On the basis of application, the market is divided into Electronics, Oil &Gas, Automotive, Chemical, Energy &Power, Aerospace, and defense. The market for Aerospace is expected to lead in the forecasted period owing to the increased use of nickel alloys in engine and transmission controlled systems owing to its resistance properties against high-temperature and high-corrosion. Rapid increases in aircraft size in recent years and rising performance criteria are likely to keep the market for nickel alloys lucrative in aerospace.
The geographical analysis for the nickel alloy market includes regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, Asia Pacific is expected to dominate the market owing to the increasing use of alloy in end-user industries. The rapid growth of the oil & gas and aerospace industry in these emerging economies has helped the nickel alloy market to grow in this region.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 72 Billion |
Projected Market Size in 2026 |
USD 88 Billion |
CAGR Growth Rate |
5% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Sandvik Material Technology, ThyssenKrupp AG, Precision Castparts Corporation, Haynes International Inc, Aperam S.A., Allegheny Technologies Incorporated, Carpenter Technology Corporation, Kennametal Inc, AmetekInc, Rolled Alloys Inc, VDM Metals GmbH, Columbia Metals Ltd, Others, and Others |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the leading players in the global market include
Sandvik Material Technology, ThyssenKrupp AG, Precision Castparts Corporation, Haynes International Inc, Aperam S.A., Allegheny Technologies Incorporated, Carpenter Technology Corporation, Kennametal Inc, AmetekInc, Rolled Alloys Inc, VDM Metals GmbH, Columbia Metals Ltd, Others
This report segments the Nickel Alloy market as follows:
By Type Segmentation Analysis
- Heat resistance nickel alloy
- Corrosion resistance nickel alloy
- Chemical resistance nickel alloy
- High-performance nickel alloy
By Application Segmentation Analysis
- Electronics
- Oil & gas
- Automotive
- Chemical
- Energy & power
- Aerospace and defense
By Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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