The report by Value Market Research on the Global Nickel Alloy Market market growth is anticipated to reach CAGR of 4.5% during 2020-2026. The market was valued close to USD 63.3 BN in 2019 and is expected to reach USD 86.2 BN by 2026.The substantial upswing in various industries such as aerospace & defence, automotive, etc. due to burst in personnel earning level associated with intensifying demand for automobiles will enhance industry growth. The automobile industry has discovered significant growth in preceding years and is projected to continue to grow at the same momentum during the forecasted timespan. Extensive growth in the chemical industry also assembles development components for the Global Nickel Alloy Market. This indicates further achievements and optimistic influence over the whole nickel alloy market.
The manufacturing sectors chiefly look for metals acquiring efficiencies such as corrosion resistance, high-temperature resistance, chemically inert, multiple purposes and this demand is fulfilled by alloys. One of all such vital alloy in this scenario is a nickel alloy. Nickel alloy has an adaptable usage in manufacturing turbines for power generation, aircraft gas turbines, aircrafts parts, electronics, etc. In the automobile, these alloys are used to manufacture diesel valves, thermostats, casings, spark plugs and other appliances. Furthermore, nickel alloys discover its applications in enterprises related to electronics, energy & power, paper, lubricants & gas, defence and automotive industry. Nickel is a substance which effortlessly forms an alloy with different metals. The prominent traits behind the popularity of nickel alloy are its huge corrosion resistance and high-temperature resistance characteristics.
The report "Global Nickel Alloy Market Report By Product (Iron-Nickel-Chromium Alloys, Stainless Steel, Copper Nickel Alloys & Nickel Copper Alloys, Nickel Chromium Alloys & Nickel-Chromium-Iron Alloys And Others), By Application (Construction, Aviation, Shipbuilding, Electronics, Medicine And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" covers the market introduction, key market statistics followed by in-depth regional revenue/or volume analysis. The report analyses the trends of the past years along with deeply studying the geo-political trends, thus authenticating the findings of the research and making it more reliable.
On the basis of product nickel alloy market iron-nickel-chromium alloys, stainless steel, copper nickel alloys & nickel copper alloys, nickel chromium alloys & nickel-chromium-iron alloys and others. Stainless steel market accounts for a strongest market share majorly due to high demand for medical tools, parts of medical equipment, defense tools, petrochemical parts etc. Stainless steel being tough and sustainable along with highly resistant is adding to the demand in this segment.
By Application, Construction, Aviation, Shipbuilding, Electronics, Medicine and Others. Aviation emerged as the dominant application. This is due to high demand in gears, jet engines, turbine seals and other components. Use of nickel alloys in aviation industry gives hardness, strength, corrosion resistance along with more density, malleability to the products.
High demand was registered in the Asia Pacific region due to increased use of nickel alloys from automotive industry, aerospace industry. The healthcare and manufacturing industries booming in China, India, South Korea is also boosting the growth curve of this market.
The Report Segments Global Nickel Alloy Market -
Players Profiled In the Report:
Alloy Wire International, Ametek, ATI, Carpenter Technology Corporation, Designed Alloy Products, Inc, Haynes International, Inc., J&J Alloys, Kennametal Stellite, MetalTek, Sandvik, Special Metals, VDM Metals and Wall Colmonoy Corporation.
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