London, Dec. 28, 2022 (GLOBE NEWSWIRE) -- In a new upcoming study, Fairfield Market Research would offer a thorough growth analysis and forecast of the global nickel alloys market between the years 2022 and 2029. Attributing to higher corrosion resistance, superior flexibility, and metallurgical stability, nickel alloys find application in concentrated solar power/thermal solar plants. Rapid expansion of the renewables sector will thus bolster demand for nickel alloys in long term. Desirable magnetic properties, and high efficiency of nickel alloys further place them at a key position among electronic devices manufacturers, which further uphold the growth outlook of the nickel alloys market. Significant consumption by aerospace and defense industry for usage in manufacturing of aircraft engine components remains the strongest factor driving the growth of nickel alloys market, says the report. Frequent launches of new airline companies to cater to the mounting number of air travelers will thus contribute toward the expansion of nickel alloys market to a large extent.
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Insights into Segmental Analysis
Primary market analysis by function shows dominance of the high-performance alloys segment under which fall the key functionalities like heat resistant alloys, corrosion resistant alloys, electronic alloys, and high-performance alloys. Among these, high-performance nickel alloy is a highly alloyed material especially designed to cater to demanding application settings. Demand for these alloys is thus more likely to be witnessed from the aerospace, and oil and gas industries, suggests research. On the other hand, by the end-use industry, healthcare and medical industry is expected to register substantial consumption of nickel alloys as one of the key components in a variety of medical devices. Mounting demand for stents for application in angioplasty procedures, as well as orthopedic procedures is further likely to fortify the growth curve of nickel alloys market. The alloys containing stainless steel are especially anticipated to experience higher uptake.
Insights into Regional Analysis
Asia Pacific is likely to maintain dominance in the global nickel alloys market as the region continues to witness mounting production output in the manufacturing sector. China remains at the forefront of nickel alloys consumption and the preliminary report findings suggest that the primacy of China is owing to the thriving electric vehicle industry. The nation, along with India, will continue to represent the key market for car, as well as commercial vehicle production. This will remain the strongest booster to the lucrative positioning of Asia Pacific in global nickel alloys market. On the other hand, the US registers substantial demand for nickel alloys, which upholds the key positioning of North American region in global nickel alloys market. The report findings indicate surging application of superalloys in gas turbines, and other high-temperature application areas, which will further contribute toward the expansion of nickel alloys market in North America.
Key Players in Global Nickel Alloys Market Space
Sandvik Materials Technology AB, Aperam S.A., DM Metals, ThyssenKrupp AG, Carpenter Technology Corporation, Precision Castparts Corporation, Haynes International Inc., Allegheny Technologies Incorporated, Rolled Alloys Inc., Voestalpine AG
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Global Nickel Alloys Market is Segmented as Below:
By Function:
- Corrosion Resistant Alloys
- High-Performancece Alloys
- Electronic Alloys
- Heat Resistant Alloys
By End-use Industry:
- Aerospace & Defence
- Electrical & Electronics
- Chemical
- Oil & Gas
- Energy & Power
- Automotive
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- South Korea
- India
- China
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Function-wise Analysis
- End-use Industry-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
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