Dublin, May 11, 2023 (GLOBE NEWSWIRE) -- The "Global Superalloy Honeycomb Materials Market Size, Trends & Growth Opportunity, By Material Type, By Application, By Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Superalloy Honeycomb Materials market was valued at US$ 1.6 billion in 2021 and it is expected to reach at US$ 2.7 billion in 2027 at a CAGR of 7.6% during forecast period 2022-2027.
Companies Mentioned
- Oerlikon Metco
- Allegheny Technologies Inc
- Haynes International
- Hamilton Precision Metals
- Quality Honeycomb
- Allegheny Technologies Inc
- Forged Solutions Group
- Gas Turbine LLC
- Forged Solutions Group
Superalloy are known as high temperature alloys, as they maintain their toughness and strength at elevated temperature. Superalloy honeycomb materials possess properties like mechanical strength, significant surface stability, creep resistance, and corrosion & oxidation resistance at high temperature. Rise in demand for these materials in aviation and automotive industries will drive the market growth in near future.
Market Drivers
Increase in demand for superalloy honeycomb material in aerospace & defense industry is considered as a key driving factor which is expected to boost the global superalloy honeycomb materials market growth. Furthermore, increase in the replacement of ageing air craft has led to boost in new aircraft manufacturing which is expected to positively contribute the growth of global superalloy honeycomb materials market.
Moreover, rise in space and aviation activities across the globe will fuel the market growth. These materials are widely applied in automotive, aerospace & defense, construction, and marine industries as they offer remarkable mechanical properties and are lightweight thus conserving fuel and minimizing the weight of marine vehicle.
Market Restraints
However, high cost of base materials used for developing the superalloys is the major challenging factor which is expected to hinder the global superalloy honeycomb materials market growth.
Market Segmentation
By Material Type
- Nickel
- Stainless Steel
- Others
By Application
- Aerospace & Defense
- Automotive
- Construction
- Power
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Superalloy Honeycomb Materials Market?
- What will be the growth rate from 2022 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
- What are the strategies adopted by key players?
For more information about this report visit https://www.researchandmarkets.com/r/kd45cc
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