Nickel Alloys

Nickel Alloys Market - Global Industry Insights, Trends, Outlook,
and Opportunity Analysis, 2018-2026
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. They are widely used in aircraft for manufacturing exhaust
systems, blades, hydraulic pumps, and other components. Nickel alloys are also used in
power generation turbines, marine fasteners, and electronics. Therefore, Mentioned uses of
nickel alloys in various industries are the drivers for the growth of nickel alloy market. The
increasing cost of raw materials is the major restraint for nickel alloy market.
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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 use of nickel alloys in high-performance technologies, owing to its advantages such as
heat resistance, durability, and strength is fuelling the growth of nickel alloy market.
According to the European Union, nickel-based alloy operations and production are
concentrated in Germany, Italy, United Kingdom, France, and Sweden. Growing automotive
and oil and gas sector in the Middle East is fueling the growth of nickel alloys market.
The steady economic growth in Latin America and the Middle East is fueling the growth of
automobile, aviation, electronics, and chemical sector, in turn augmenting the 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.
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Nickel Alloys Market report categorizes the global market by Function (Corrosion Resistant, Electronic Alloys, Heat Resistant Alloys, High Performers Alloy), End User (Aerospace and Defense, Automotive, Chemical, Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-26

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