The nickel-based superalloys global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Nickel-Based Superalloys Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
nickel-based superalloys market size has grown strongly in recent
years. It will grow from $8.06 billion in 2023 to $8.79 billion in 2024
at a compound annual growth rate (CAGR) of 9.1%. The growth in the
historic period can be attributed to a rise in the automotive industry,
increasing demand for electric vehicles, increased aviation fuel
efficiency, increasing demand for lngot metallurgy in various
industries, and increasing fuel economy and performance.
The nickel-based superalloys market size is expected to see strong growth in the next few years. It will grow to $12.65 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to growing demand from aerospace for lightweight alloys, growing focus on renewable energy, growing need for high-performance materials, growing use of gas turbines in the power generation industry, and growing need for sophisticated materials. Major trends in the forecast period include technological advancements, advancements in 3D printing for complex superalloy components, the development of complicated geometries, the development of next-generation aircarft, and advancements in alloy design.
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Scope Of Nickel-Based Superalloys Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Nickel-Based Superalloys Market Overview
Market Drivers -
The
expansion of the aerospace industry is expected to propel the growth of
the nickel-based superalloy markets going forward. The aerospace
industry refers to businesses involved in designing, developing,
producing, and maintaining aircraft, spacecraft, and related systems and
equipment. The demand for the aerospace industry is rising due to
increasing global air travel, driven by expanding middle-class
populations and the push for next-generation fuel-efficient aircraft to
meet stricter environmental regulations. Nickel-based superalloys are
essential in the aerospace industry due to their exceptional properties,
enabling high performance in extreme environments. For instance, in
September 2023, according to the Aerospace Industries Association (AIA),
a US-based trade association representing manufacturers and suppliers
of civil, military, and business aircraft, in 2022, the American
aerospace and defense industry saw a 6.7% increase in sales, reaching
over $952 billion compared to 2021. Therefore, the expansion of the
aerospace and power industries is driving the growth of the nickel-based
superalloys market.
Market Trends -
Major companies operating
in the nickel-based superalloy market are focusing on developing
technologically advanced solutions, such as nickel
ultra-high-temperature superalloy, to meet the growing demand for
enhanced performance in critical applications like aerospace and power
generation. Nickel ultrahigh-temperature superalloys are advanced
materials that withstand extreme temperatures and harsh environments.
For instance, in July 2024, Alloyed and Aubert & Duval, a
France-based metallurgical company, launched a new nickel superalloy
named ABD-1000AM, specifically designed for additive manufacturing and
capable of withstanding temperatures exceeding 1000°C in its
age-hardened state. This ultra-high-temperature alloy boasts a relative
density greater than 99.9%, a significant gamma prime phase fraction of
55%, and comparable stress rupture life to the cast alloy Ni247LC. The
development utilized Alloyed's Alloys-by-Design platform, with Aubert
& Duval providing the necessary powder feedstock.
The nickel-based superalloys market covered in this report is segmented –
1) By Type: Nickel-Copper, Nickel-Chromium, Nickel-Molybdenum, Other Types
2) By Form: Cast, Wrought
3) By Base Element: Cobalt, Rhenium, Tantalum, Tungsten
4) By Distribution Channel: Direct Sales, Distributors And Traders
5) By End-Use Industry: Aerospace, Electronics, Industrial, Automotive, Oil And Gas, Other End Use Industries
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Regional Insights -
Asia-Pacific
was the largest region in the nickel-based superalloys market in 2023.
The regions covered in the nickel-based superalloys market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies
operating in the nickel-based superalloys market are CMK Corporation,
BaoSteel, Thyssenkrupp Aerospace, Sandvik Materials Technology,
Outokumpu Oyj., Aperam S.A., Fushun Special Steel Co Ltd., Precision
Castparts Corp., Howmet Aerospace Inc., Walsin Lihwa Corporation, Eramet
S.A., Allegheny Technologies Incorporated, Beijing Cisri-Gaona
Materials and Technology Co Ltd., Carpenter Technology Corporation, AMG
Advanced Metallurgical Group, Nippon Yakin Kogyo Co Ltd., VSMPO-AVISMA
Corporation, Special Metals Corporation, Haynes International Inc.,
Doncasters Group, Smiths Metal Centres Limited, AEETHER Inc., Mishra
Dhatu Nigam Limited, Rosswag GmbH, QuesTek Innovations
Table of Contents
1. Executive Summary
2. Nickel-Based Superalloys Market Report Structure
3. Nickel-Based Superalloys Market Trends And Strategies
4. Nickel-Based Superalloys Market – Macro Economic Scenario
5. Nickel-Based Superalloys Market Size And Growth
…..
27. Nickel-Based Superalloys Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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