Nickel Alloy Market: Market Research Report, 2019-2026-TBIRMZ51

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Nickel Alloy 

                    
The report covers forecast and analysis for the nickel alloy market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on volume (Kilotons) and revenue (USD Billion). The study includes drivers and restraints for the nickel alloy market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the nickel alloy market on a global as well as regional level.

As per the report, the global demand for nickel alloy market was valued at approximately USD 12.65 billion in 2018 and is expected to generate revenue of around USD 16.54 billion by end of 2025, growing at a CAGR of around 3.9% between 2019 and 2025.


Nickel is a versatile material which can alloy with various other metals which has several properties such as chemical, physical, and mechanical. Besides these factors nickel alloy also comprise properties such as high heat resistance, corrosive resistance, chemical resistance, and good machining capabilities. Nickel alloy posses extreme corrosion resistance, due to which these alloys are used in oil & gas, electronics, energy & power, chemical, and other industries. The nickel alloy is widely used in aerospace & defense, automotive, and many other industries.

Rapid enhancement in end-user sectors such as aerospace & defense and automotive drives the nickel alloy market. The global nickel alloy market is projected to grow at the highest rate with rising application of nickel alloy in the aerospace & defense industry. Nickel alloys are majorly used in the aerospace mainly for the engine production industry. Moreover, nickel alloys have wide acceptance in aircraft component manufacturing such as engine components, blades, exhaust system, blades, etc. An increasing number of military and civil aircraft production is likely to boost the nickel alloy market growth. However, volatility in raw material prices may hamper the market growth. Conversely, a sharp rise in demand for automotive sales across the emerging economies in the developing market is expected to offer ample opportunities for nickel alloy market growth in the forecast period.

The global nickel alloy market is segmented on the basis of function and end-user industry. Based on function, the global nickel alloy market is divided into heat resistance alloy, corrosion resistance alloy, electronic resistance alloy, and high-performance alloy. The high-performance nickel alloy is estimated to lead the global nickel alloy market in 2018, which accounts the rising demand for nickel alloy, mainly in the oil & gas, aerospace & defense, and chemical industries. High-performance nickel alloys are able to handle extreme corrosive and high-pressure conditions and are therefore widely used in the aerospace and defense industries as well as for oil and gas exploration. Based on end-user industry, the global nickel alloy market is classified into electronics, oil & gas, automotive, chemical, energy & power, aerospace & defense, and others. In 2018, the aerospace & defense segment accounted for the largest market share and the automotive segment is projected to grow at the highest CAGR during the upcoming years. Growing demand for travelling through airlines in the developing regions such as the Asia Pacific and the Middle East is driving the aerospace & defense segment. Due to the features like excellent mechanical strength and creep resistance at elevated temperatures, corrosion and oxidation resistance, surface stability, the demand for nickel alloys is rising in the aviation manufacturing industry.

The Asia Pacific dominated the nickel alloy market in 2018 and is further expected to grow at the fastest pace throughout the forecast period. This is mainly due to the huge growth of the automotive, aerospace & defense, energy & power sector in the forecast period. India, South Korea, China, and Japan are the major contributors in the nickel alloy market. Europe is expected to show prominent growth over the upcoming years. North America in the forecast period is anticipated to contribute significantly to the market growth. Latin America is expected to witness lucrative growth over the forecast period owing to rapidly expanding industrialization in Brazil. The Middle East & Africa is expected to experience decent growth over the forecast period owing to rapid growth in the oil & gas sector.

Some of the key players operating in the global nickel alloy market include Precision Castparts Corporation, Sandvik Materials Technology, Allegheny Technologies Incorporated, Precision Castparts Corporation, Kennametal Inc., ThyssenKrupp AG, Rolled Alloys Inc., VDM Metals GmbH., Aperam S.A., Haynes International Inc., Carpenter Technology Corporation, Ametek Inc., and Voestalpine AG among others.

By Function


	Heat Resistance Alloy
	Corrosion Resistance Alloy
	Electronic Resistance Alloy
	High Performance Alloy


By End-User Industry


	Electronics
	Oil & gas
	Automotive
	Chemical
	Energy & power
	Aerospace & Defense
	Others


By Region


	North America
	
		U.S.
	
	
	Europe
	
		UK
		France
		Germany
	
	
	Asia Pacific
	
		China
		Japan
		India
	
	
	Latin America
	
		Brazil
	
	
	Middle East and Africa