Nickel Alloys Market Revenue Opportunities and Analysis By Worldwide Top Manufacturers : Allegheny Technologies Incorporated, Ametek Inc., Aperam S.A., Carpenter Technology Corporation, Haynes International Inc.

Nickel alloys are the mixture of nickel and other metals or elements. Nickel alloys with iron, copper, chromium, lead, aluminum, silver, gold, cobalt, and other elements are used to produce cast iron, stainless steel, Incoloy, Inconel, Monel, and other alloys. Nickel alloys have several properties such as heat resistance, electric resistance, toughness, strength at low and high temperature, corrosion resistance, and special electronic and magnetic properties. Due to these properties, they are used in batteries, coatings, mobile phones, kitchenware, mobile phones, jewelry, medical equipment, buildings, transport, and power generation. They are used in automotive industry for motors, generators, heating elements, turbochargers, gears, exhaust valve, brake fluid lines, cylinder liners, pistons, wiper, mufflers, catalyst, and clamps.

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High resistance alloys are projected to be the largest segment in the nickel alloys market in 2017. This is due to their applications in various industries such as oil and gas, aerospace, chemical, energy, and power. Nickel alloys have major applications in defense and aerospace, owing to their superior physical and mechanical properties.

Nickel Alloys -Market Outlook

Asia Pacific is the largest market for nickel alloys, owing to the lucrative aerospace, automotive, defense, energy, and power sector. The increase in manufacturing and export sector has augmented the nickel alloys market. The significant contributors to nickel alloy market in Asia Pacific are India, China, South Korea, and Japan. India Brand Equity Foundation (IBEF), a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India estimated that the automotive market will reach US$ 16.5 billion by 2021 and generate annual revenue up to US$ 300 billion by 2026.

Growing automotive sector in India is expected to augment the nickel alloy market.
North America has a significant demand for nickel alloys due to steady growth in automobiles, electronics, aviation, and defense industry. Growing chemical industry in the USA is fuelling the growth of nickel alloy market.

The companies are adopting various organic and inorganic growth strategies to retain their market position. key players operating the nickel alloys market include Allegheny Technologies Incorporated, Ametek Inc., Aperam S.A., Carpenter Technology Corporation, Haynes International Inc., Kennametal Inc., Precision Castparts Corporation, Rolled Alloys Inc., Sandvik Materials Technology, ThyssenKrupp AG, VDM Metals GmbH, and Voestalpine AG.­­

Nickel Alloys Market Taxonomy

Based on function, the nickel alloys market is segmented into:

-Corrosion resistant alloys
-Electronic alloys
-Heat resistance alloys
-High-performance alloys
-Others

Based on the end user, the nickel alloys market is segmented into:

-Aerospace & Defense
-Aircraft Engines
-Defense Equipment

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