Aircraft Nickel and Cobalt Round Products Market is Forecasted to Reach 106 kilotons in 2030, Says Stratview Research

The global Aircraft Nickel and Cobalt Round Products market size was valued at 74.8 kilotons in 2023 and is projected to reach 106 kilotons by 2030, witnessing a market growth CAGR of 5% from 2024 to 2030, according to an analysis by Stratview Research.

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

Click here to get a free sample of the report:
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Market Statistics:

Market Size in 2023: 74.8 kilotons
Market Size in 2030: 106 kilotons
Growth (CAGR): 5% during 2024-2030
Leading Aircraft Type: Commercial Aircraft
Leading Process Type: VIM
Leading Part-Type Type: Turbine Discs
Leading Application Type: Non-Rotating Applications
Leading Region: North America
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Aircraft Nickel And Cobalt Round Products Market:

The global Aircraft Nickel and Cobalt Round Products market is segmented based on Application type, Aircraft type, Process type, Part-Type type, and Region.

Based on the aircraft type -

- The aircraft nickel & cobalt round products market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, general aviation, and others.
- Expected increase in production rates of the best-selling aircraft programs, introduction of variants of existing best-selling aircraft programs, such as B777X, huge order backlogs of both the significant OEMs (Boeing: 6,197 and Airbus: 8,749) 14,976 as of September 2024; technological advancements; and fleet modernization and expansion are key factors behind the dominance of commercial aircraft segment.

Based on the process type -

- Based on process type, the market is segmented into VIM (vacuum induction melting) and others.
- The vacuum induction melting (VIM) process leads the market driven by its key features, such as precise control over the melting environment, high purity, uniform microstructures, reduced oxidation, and flexibility, i.e., suitable for producing small batches of superalloys.
- VIM prevents air contamination, resulting in high-purity superalloys. This process allows for precise control over the chemical composition of the alloys.

Which region shows the most promising growth forecast and opportunity?

- The aircraft nickel and cobalt round products market is segmented by region into North America, Europe, Asia-Pacific, and the Rest of the World.
- North America is the largest region of the market, as it is home to major aeroengine OEMs, such as GE Aerospace, Pratt & Whitney, and Honeywell International Inc., which generate high demand. It also has the presence of leading players, such as ATI Inc., Haynes International, Inc., Carpenter Technology Corporation, and Precision Castparts Corp. (Special Metals Corporation).
- Asia-Pacific is likely to offer significant growth opportunities driven by programs such as the Safran-DRDO JV engine and GTRE's custom-designed engines for AMCA. Other factors include increasing demand for commercial aircraft to support rising passenger traffic, the opening of Boeing and Airbus assembly plants in India and China, and a growing preference for air travel and tourism.

Aircraft Nickel And Cobalt Round Products Market Drivers:
Some of the key drivers listed in the report are given below.
- Development of single-crystal alloys.
- Emphasis on High-Temperature and High-Strength Alloys.
- Raw Material Supply Challenges.
- Formation of Long-Term Contracts.
- Sustainability and Recycling Initiatives.

Competitive Landscape: Top Companies in the Aircraft Nickel And Cobalt Round Products Market:

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the Aircraft Nickel And Cobalt Round Products Market:

• ATI Inc.
• Precision Castparts Corp. (Special Metals Corporation)
• Carpenter Technology Corporation
• Aperam S.A.
• Haynes International, Inc.
• Proterial, Ltd. (Earlier Hitachi Metals, Ltd.)
• Aubert & Duval
• VDM Metals Group

Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Please write to us at sales@stratviewresearch.com

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the Aircraft Nickel and Cobalt Round Products 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

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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.