The global demand for Nichrome Alloy Market is presumed to reach the valuation of nearly USD XX Billion by 2026 from USD XX Billion in 2019 with a CAGR of XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XX Kilo Tons in 2019 and foreseen to touch XX Kilo Tons by 2026 with a CAGR of XX% during 2020-2026.
Nichrome Alloy is a non-magnetic alloy that comprises nickel, chromium and sometimes iron. It generally comes in the form of wired coils and is mostly used as a heating element. The heat resistance property of this alloy makes it suitable for use in toasters and hair dryers. The other applications include laboratory, construction, specialized electronics, e-cigarettes, glass making and sculpturing. It is used in fireworks and pyrotechnics as a remote ignited as well as in vaping applications. This highly durable alloy which is silver-grey coloured is resistant to electric flow, heat, wear and tear and corrosion. Thus, the use of nichrome is spread across industrial manufacturing to hobby work.
The rising demand for nichrome in aerospace and electronics industries will aid the growth of this market. With its high-temperature strength and good workability, nichrome being used in a variety of consumer products as a heating element and also in industrial applications like model rocket ignition, flame testing, hot-wire foam cutters will further propel the growth of this market. Nichrome's characteristics making it useful in speciality products and increased technological developments will fuel the growth of this market. The market is probably not affected by the COVID-19 pandemic except for the reduced production. The major challenge faced by this market is the higher cost of the main ingredient of the alloy, Nickel.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of nichrome alloy.
The entire nichrome alloy market has been sub-categorized into product, type and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Nickel-Aluminum Alloys
- Nickel-Titanium Alloys
- Nickel-Chromium Alloys
- High-Performance Alloys
- Electronic Alloys
- Heat Resistant Alloys
- Corrosion Resistant Alloys
- Aerospace & Defense
- Oil & Gas Industry
This section covers regional segmentation which accentuates on current and future demand for nichrome alloy market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Nichrome Alloy Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the nichrome alloy market include Sandvik Materials Technology Ab, Kennametal Inc., Carpenter Technology Corporation , Thyssenkrupp AG, VDM Metals GmbH, Allegheny Technologies Incorporated, Precision Castparts Corporation, Haynes International Inc., Columbia Metals Ltd., Aperam S.A., Sanyo Special Steel Co., Ltd. , Voestalpine AG , JLC Electromet Pvt. Ltd., Ametek Inc., and Neonickel. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.