Global Super Alloys Market was valued at US$ 5.61 Bn in 2017, and is expected to reach US$ 9.81 Bn by 2026, registering a CAGR of 7.24 % during the forecast period.
Increased application of super alloys owing to the increase in need for high-strength materials highly durable materials that can withstand high temperature is driving the super alloys market. Also, rising demand from power industries, increasing government expenditure in emerging economies and in aerospace and aircraft applications. Increase in demand for these alloys in range of industries such as aerospace, oil & gas, automotive, and others. They are widely used in turbine engines, as the thermodynamics efficiency of turbine engines is increased with increasing turbine inlet temperature, which is expected to provide lucrative growth opportunity to the market players. These alloys facilitate improved operating efficiency and reduce environmental emissions. However, high cost of these alloys is anticipated to hamper the market growth during the forecast period.
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Nickel-based super alloys is the leading base material segment. Nickel-based super alloys constitute over 50% of the weight of advanced aircraft engines. Nickel-based super alloys possess high-temperature mechanical properties and oxidation resistance. Nickel-based super alloys are majorly used in hottest parts of gas turbines turbine blades, turbine discs, metal processing, and casting blades. Nickel based super alloys are highly preferred in aerospace sector as it can resist physical stress and extremely high temperatures, which in turn helps to maintain high surface stability. Industrial nickel-based super alloys contain alloying elements such as aluminum, chromium, titanium, tungsten, niobium, tantalum, cobalt etc.
Aerospace application segment dominated the global market, with almost 50 % share of the total market share in 2017. In aerospace, alloys are used to develop gas turbine engines for defense aircraft, turbine blades, and jet engines. Increasing aircrafts production, rising demand from power industries, and growing use of light weight components in automotive industry are the factors driving the growth of the super alloys market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding super alloys market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, Base Material portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in super alloys market.
Scope of Global Super alloys Market
Global Super alloys Market, by Base Material:
• Nickel-Based
• Iron-Based
• Cobalt-Based
Global Super alloys Market, by Application:
• Aerospace
• Industrial Gas Turbine
• Automotive
• Oil & Gas
• Industrial
• Others
Global Super alloys Market, by Region:
• North America
• South America
• Asia Pacific
• Europe
• Middle East & Africa
Key Players Analyzed in the Report:
• Allegheny Technologies Incorporated (ATI)
• Haynes International
• Special Metals Corporation
• Aperam
• Carpenter Technology
• AMG Superalloys
• Doncasters
• Nippon Yakin Kogyo
• Universal Stainless
• Danyang City Kaixin Alloy Material Co. Ltd
• Supreme Special Steel Pvt. Ltd.
• TI Steel Private Ltd.
• AcmeCast
• Balaji Superalloys
• Arconic
• Fushun Special Steel
• VDM Metals
• VSMPO-AVISMA
• CISRI Gaona
• Changcheng Special Steel
• IMET Alloys
• Mattco Forge Inc.
• United Performance Metals.
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