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Nickel Superalloy Market to gain impetus from aerospace applications

05-17-2021 08:45 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Nickel Superalloy Market

Nickel Superalloy Market

Nickel superalloy market outlook is likely to remain bullish, following the use in turbine engines owing to good resistance and high strength. It is pertinent to mention that nickel-based superalloys use corrosion resistance and have become sought-after for hot engine components.

Increased inclination for superalloys is majorly attributed to exceptional heat resistance, dimensional stability, toughness, stiffness, strength and resistance against oxidation and corrosion. Global Market Insights, Inc., has projected nickel superalloy market size to surpass US$ 10 billion by 2026.

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High-performance alloys are witnessing pressing demand for strength and durability in machines and have become a natural fit for applications at the highest fraction of their melting point.

COVID-19 impact

As world stares at a vaccination drive, there are opportunities and challenges for stakeholders to capitalize and embellish their credentials in the nickel superalloys market. Some of the technologies that leverage superalloys such as jet engines, hot spots on aircraft, oil & gas exploration and automotive turbochargers are likely to gain an uptick in the post-COVID landscape. A positive future trend can be attributed to the efforts anticipated to foster industrial growth after a notable slowdown resulting from the pandemic.

A palpable trend towards aerospace industry

A notable trend in aerospace industry for nickel superalloys will be witnessed in the next five years as demand for superalloys to make discs, turbine blades and other jet engine parts has surged. A robust growth in nickel superalloy market share is majorly attributed to corrosion protection, adhesion, erosion and wear resistance.

Given that aircraft engines function at high temperatures, investments in nickel-based superalloys are slated to rise. Accordingly, aircraft industry will reap reward from excellent resistance against stress rupture and creep at high temperature and will potentially be among the largest consumers of nickel superalloys.

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Growth opportunities galore in North America and APAC

North America will potentially come up as a viable investment hub on the heels of energy demand and expanding footfall of aerospace and defense, marine and automobile industries. It is worth noting that an upsurge in defense deals and surge in the manufacturing of aircraft in the U.S. have mustered up the confidence of stakeholders vying to bolster dominance in North America nickel superalloy market.

Forward-looking companies are banking on thriving automotive industry in China, India and Vietnam as they eye to gain a competitive edge in the landscape. It is worth noting that chemical processing industry in the region will continue to be one of the major end-markets of nickel superalloy. Besides, growing number of power projects in India and China will impact APAC nickel superalloy market outlook.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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