Nickel Alloys Market is Forecasted to Reach US$ 18.5 billion in 2028, Says Stratview Research

The global nickel alloys market is projected to witness a growth rate of 4.4% annually from 2023 to 2028, with an anticipated size of US$ 18.5 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global nickel alloys market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 18.5 billion
Growth (CAGR): 4.4% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Nickel Alloys Market:
The global nickel alloys market is segmented based on product type, end-use industry type, and region.

Based on product type - The nickel alloys market is bifurcated into bars, flat products, tubes, and others. Among these products, flat products remain the leading product as well as the fastest-growing product type in the years to come. They are used in multiple applications ranging from aerospace to marine to power generation.

Based on the end-use industry type - The market is segmented into aerospace, power & energy, process industry, electrical & electronics, automotive, and others. Aerospace is estimated to remain the dominant as well as the fastest-growing end-use industry in the years to come, favored by growing demand for high-temperature and corrosion-resistance materials, making it extremely useful for the construction of aircraft exhaust valves and turbine rotors. During the last few years, the industry has witnessed a significant increase in air traffic which has fuelled the production of aircraft and high-strength nickel alloys.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/3401/nickel-alloys-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for nickel alloys over the forecast period. This growth outlook is majorly attributed to the following-
The region is quite vulnerable to high-tension border conflicts and terror threats.
• The region is the go-getter to most industries. Furthermore, all the leading players prefer to have a manufacturing plant in the region in order to remain close to their customers and work along with them in their emergent needs. Recovery of Boeing (resumption of B787) is likely to help the region quickly regain its huge demand for specialty alloys including nickel alloys.
• Asia-Pacific is expected to be the fastest-growing market for nickel alloys over the forecast period. There has been a gradual shift in the manufacturing base of most of the end-use industries. For instance, the electrical and electronic industry has been moving to Asia, particularly China, which is creating bigger opportunities for market stakeholders of nickel alloys in the coming years.

Nickel Alloys Market Drivers:

Some of the key drivers listed in the report are given below.
Increasing the use of nickel alloys in the automotive industry for reducing weight and improving engine performance is one of the key drivers of the market. Similarly, an excellent rebound in the aerospace industry is likely to rejuvenate the demand for nickel alloys in the industry. The main challenge for the market is high volatility in the price of raw materials and the highly unstable oil & gas business which may impact the market's growth during the forecast period of 2023-28.

Top Companies in the Nickel Alloys Market:
Stratview Research has identified the following companies as the top market players.
• Allegheny Technologies Incorporated
• VDM Metals GmbH
• Carpenter Technology Corporation
• Aperam S.A.
• Haynes International, Inc.
• Nippon Yakin Kogyo Co., Limited
• Jiangsu Toland Alloy Co., Limited
• Aubert & Duval S.A.
• Mishra Dhatu Nigam Limited
• Materion Corporation

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Nickel Alloys Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Ferroalloys Market: https://www.stratviewresearch.com/1167/ferroalloys-market.html
• Specialty Alloys Market: https://www.stratviewresearch.com/3419/specialty-alloys-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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This release was published on openPR.