Portland, OR, Feb. 10, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global superalloys market garnered $6.8 billion in 2021, and is estimated to generate $15.1 billion by 2031, manifesting a CAGR of 8.5% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
Get Free Sample PDF Brochure @ https://www.alliedmarketresearch.com/request-sample/2088
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $6.8 billion |
| Market Size in 2031 | $15.1 billion |
| CAGR | 8.5% |
| No. of Pages in Report | 304 |
| Segments covered | base material, application, and region |
| Drivers | Wide usage of superalloys in a variety of industries, including oil and gas, aerospace, gas turbine industrial. |
| Opportunities | Superalloy manufacturers continually investing in global development through joint ventures, partnerships, and mergers & acquisitions |
| Restraints | The prices of base alloys required for the production of superalloys are relatively higher Development of new generations of superalloys to gain higher temperature resistance involves the incorporation of expensive alloying metals such as rhenium and ruthenium |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global superalloys market, owing to implementation of global lockdown which resulted to temporary closure of superalloys factories.
- In the post-pandemic, the market for superalloy is expanding due to increased demand from the rising nations, caused by their increased need for electrical power.
- The surge in demand for industrial gas turbines, particularly for the oil and gas industry in developing countries like India, Brazil, China, and West Africa is also anticipated to present the industry's players with major development prospects in the near future.
The research provides detailed segmentation of the global superalloys market based on base material, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report @ https://www.alliedmarketresearch.com/request-for-customization/2088
Based on base material, the nickel-based segment held the highest share in 2021, accounting for nearly four-fifths of the global superalloys market, and is expected to continue its leadership status during the forecast period. However, the cobalt-based segment is expected to register the highest CAGR of 9.0% from 2022 to 2031.
Based on application, the aerospace segment accounted for the highest share in 2021, contributing to more than half of the global superalloys market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the automotive segment is expected to register the highest CAGR of 9.4% from 2022 to 2031.
Based on region, North America held the largest share in 2021, contributing to around two-fifths of the global superalloys market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 8.8% during the forecast period.
Leading market players of the global superalloys market analyzed in the research include ATI, Doncasters Group, Arconic, CANNON-MUSKEGON, Carpenter Technology Corporation, Chromalloy Gas Turbine LLC, Forged Solutions Group, HAYNES INTERNATIONAL., Hitchiner Manufacturing, Beijing International Aeronautical Materials Corporation.
The report provides a detailed analysis of these key players of the global superalloys market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/superalloys-market/purchase-options
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
