Global Superalloys Market Expected To Register Steady Growth Rate during Forecast Year 2017-2023 By reaching $7,957.4 Million

According to Stratistics MRC, the Global Superalloys Market is valued at $4,170.5 million in 2016 and is expected to reach $7,957.4 million by 2023 growing at a CAGR of 9.7% from 2016 to 2023. Increasing demand for high performance, lightweight materials in aerospace, automotive, industrial gas turbines (IGT) and industrial applications is expected to have a positive impact on superalloys market growth over the forecast period. Growing demand for highly durable materials, rising demand from power industries, increasing government expenditure in emerging economies are the factors enhancing the market growth. However, high cost of base alloys is expected to hamper the superalloys market.

The Nickel base segment is estimated to account for the largest share in the global superalloys market throughout the forecast period as this material possess high temperature resistant properties and oxidation resistance. Among applications, aerospace segment is expected to dominate the global market due to increasing need for lightweight and high strength materials that can withstand high temperatures.

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North America and Europe are the key regions for superalloys market. US, Germany, UK, and France are the market leaders in this regions contributing to the demand for superalloys. Asia Pacific is expected to emerge as the fastest growing region due to increasing demand for superalloys in emerging economies such as China and India.

Some of the key participants in global superalloys market are :

Allegheny Technologies Incorporated (ATI), AMG Superalloys, Aperam S.A., Baosteel Group, Beijing Cisri-Gaona Materials & Technology, Carpenter Technology Corporation, Danyang City Kaixin Alloy Material Co. Ltd., Doncasters, Fushun Special Steel Shares, Haynes International Inc., Nippon Yakin Kogyo, Shenyang Hejin Holding, Special Metals Corporation, Super Alloy Industrial, ThyssenKrupp AG and Universal Stainless.

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Material Types Covered:
Iron-Base
Cobalt base
Nickel base

Applications Covered:
Aerospace
General aviation
Commercial aircraft
Military
Helicopter
Automotive
Electronics
Industrial
Industrial Gas Turbine
Marine turbine
Oil & Gas
Other Applications

Regions Covered:
North America, US, Canada, Mexico, Europe, Germany, France, Italy, UK, Spain,Rest of Europe, Asia Pacific, Japan, China, India, Australia, New Zealand, Rest of Asia Pacific, Rest of the World, Middle East, Brazil, Argentina,South Africa, Egypt

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