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superalloys Market is expected to reach an estimated USD 10,700 Million by 2025 and it is forecast to grow at a CAGR of 7.64% from 2018-2025

Press release   •   Jan 14, 2020 12:44 IST

The global superalloys market is projected to reach a market value of over USD 10,700 million with a healthy CAGR of 7.64% by the end of 2025.

The new research from Ameco Research on GlobalSuperalloys Market Report for 2025 intends to offer a target audience with a fresh outlook on the market and fill in the knowledge gaps with the help of processed information and opinions from industry experts. The information in the research report is well-processed and a report is accumulated by industry professionals and seasoned experts in the field to ensure the quality of research.

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Global Superalloys Market: Information by Product (Nickel-Based, Cobalt-Based, and Iron-Based), Application (Aerospace & Defense, Energy, Industrial Gas Turbine, Automotive, Oil & Gas), and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)—Forecast till 2025


Market Analysis

The global superalloys market is projected to reach a market value of over USD 10,700 million with a healthy CAGR of 7.64% by the end of 2025. Superalloys are categorized as high-performance alloys owing to its superior properties such as resistance to oxidation and corrosion, high mechanical strength and excellent surface stability. These alloys has ability to resist creep deformation at elevated temperature. A superalloy contains base alloying agents such as cobalt, nickel-iron, nickel and has matrix with austenitic FCC crystal structure. Some of the prominent applications of superalloys include industrial gas turbine, turbocharger, combustion chambers, exhaust valve of reciprocating engines and pumps of chemical industry.
The major consumer of super alloys is aerospace, oil & gas and energy industry owing to high dimensional stability, stiffness and excellent heat resistant properties offered by these alloys. They have improved operational efficiency and reduced environmental emission which led to an increase use of superalloys in industrial gas turbine and jet engines. Energy sector is expected to grow at highest CAGR during the forecast period. Superalloys are used in manufacturing of nuclear power plants components due to excellent cryogenic temperature property and high ductility, thus favoring the product demand in power and energy industry. Sanguine demand of superalloys in manufacturing aircraft component and increasing growth of aerospace and defense industry across emerging economies are likely to drive market growth. increasing number of aircraft fleets are likely to boost superalloys demand. Major aircraft producer like Boeing and Airbus has order backlog of over USD 800 billion and has racked up orders over 20,000 jetliners in 2019. Furthermore, the Boeing Company projected deliveries of around 44,000 aircraft by 2038. Thus, growing expenditure in the aerospace and defense industry are likely to drive the market growth. Additionally, superalloys are used in automotive industry owing to surging demand for lightweight parts to reduce carbon emission and increase fuel efficiency are expected to drive the market growth. Energy & Power accounted for significant market share in global super alloys market. In coal fired heat generation, superalloys are required in superheater tubes with fire-side corrosion resistant, steam-side oxidation resistant properties and oxidation resistance properties. Moreover, in nuclear power plants, heat exchange tubes used for steam generator are made of superalloys exhibiting excellent solution corrosion resistance. Thus, rising demand for energy with growing manufacturing industry and increased population are likely to drive the superalloy market. High cost of alloys are expected to hamper the market growth. However, increasing advancement in superalloy properties are likely to offer lucrative opportunity for market players. High growth of end use industries especially in US, China, Canada and France is also anticipated to favor the market growth during the forecast period.


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Market Segmentation

The global superalloys market has been segmented into product and application. The different superalloys available in the market include nickel-based, cobalt-based, and iron-based. Among these, the nickel-based segment dominated the market with a share of over 45% in 2018. Nickel based superalloys have high mechanical strength and corrosion resistance at elevated temperature. Some of the prominent applications of nickel-based superalloys are turbocharger discs for large diesel engines and high-performance racing car engines. Increasing adoption of nickel alloys in combustion engines and power generation in thermal, nuclear and fossil fuel power plants are expected to drive the superalloys market. Based on application, the global superalloys market is segmented into aerospace & defense, energy, industrial gas turbine, automotive, oil & gas, and others. Among applications, aerospace & defense segment accounted for the largest market share and is projected to be the leading consumer of superalloys in the years to follow. Increasing demand for nickel superalloys in turbine blades, discs, and other jet engine parts owing to excellent adhesion and erosion resistance are expected to drive product demand in aerospace & defense industry. Over the last decade, the thrust of jet engines has increased more than 60% whereas, the fuel consumption has fallen by 20%, thus results in improvement in the high temperature superalloys.

Regional Analysis

The global superalloys market has been segment based on regions like North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America region holds largest market share in 2018 and expected to witness same growth during forecast period. Rising demand for commercial aircraft with growing travelling activities are expected to drive the regional growth. Moreover, presence of established players operating in aircraft components are expected to boost the market growth.The market in Asia-Pacific is projected to register the highest CAGR owing to growing aerospace, automotive and defense industry. Countries like China, India, Japan and South Korea are contributing to the regional market growth. For instance, Indian Aviation industry is expected to invest around USD 15 billion by 2022. Moreover, rising government initiatives are expected to fuel the demand for superalloys market.

Key Players

The key players operating in the global superalloys market are Aperam (Luxembourg), AMG Advanced Metallurgical Group (The Netherlands), Doncasters Group Ltd (UK), HAYNES INTERNATIONAL (US), Allegheny Technologies Inc (US), Special Metals Corporation (US), Supreme Engineering Ltd (India), thyssenkrupp Aerospace Germany GmbH (Germany), Carpenter Technology Corporation (US), and VDM Metals (Germany), among others. Some of the key strategies followed by the players operating in the global superalloys market are expansion, acquisitions, investments, joint ventures, agreements, and collaborations. In June 2019, thyssenkrupp Aerospace signed a new long-term material supply contract with Dynamatic Technologies Limited (DTL), India. The agreement includes on-time deliveries of finished aircraft components for Airbus A330 flap tracks.

Available customization:

With the given market information, Ameco research offers customization's in line with the company's specific wishes. The following customization choices unit of measurement accessible for the report:
Regional and country-level analysis of the Global Superalloys Market, by end-use.
Detailed analysis and profiles of additional market players.

Table of Contents

Global Superalloys Market Research Report—Forecast till 2025

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS 18

1.1.1 GLOBAL SUPERALLOYS MARKET, BY PRODUCT 19

1.1.2 GLOBAL SUPERALLOYS MARKET, BY APPLICATION 20

1.1.3 GLOBAL SUPERALLOYS MARKET, BY REGION 21

2 MARKET INTRODUCTION

2.1 DEFINITION 22

2.2 SCOPE OF THE STUDY 22

2.3 MARKET STRUCTURE 23

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS 24

3.2 PRIMARY RESEARCH 25

3.3 SECONDARY RESEARCH 25

3.4 MARKET SIZE ESTIMATION 26

3.5 FORECAST MODEL 28

3.6 LIST OF ASSUMPTIONS 29

4 MARKET INSIGHTS

5 MARKET DYNAMICS

5.1 INTRODUCTION 33

5.2 DRIVERS 34

5.2.1 INCREASING DEMAND FOR SUPERALLOYS IN THE AEROSPACE & DEFENSE INDUSTRY 34

5.2.2 DEVELOPMENT OF ADVANCED SUPERALLOYS FOR USE IN THE ENERGY AND POWER INDUSTRY 35

5.2.3 DRIVERS IMPACT ANALYSIS 36

5.3 RESTRAINTS 36

5.3.1 AVAILABILITY OF SUBSTITUTES 36

5.3.2 RESTRAINTS IMPACT ANALYSIS 37

5.4 OPPORTUNITIES 38

5.4.1 GROWING DEMAND FOR SUPERALLOYS IN DEVELOPING COUNTRIES OF ASIA-PACIFIC 38

5.5 CHALLENGE 39

5.5.1 VOLATILE PRICES OF NICKEL 39

6 MARKET FACTOR ANALYSIS

6.1 SUPPLY CHAIN ANALYSIS 41

6.1.1 RAW MATERIALS SUPPLIERS 42

6.1.2 SUPERALLOY MANUFACTURERS 42

6.1.3 DISTRIBUTION CHANNEL 42

6.1.4 END USE 43

6.2 PORTER’S FIVE FORCES MODEL 43

6.2.1 THREAT OF NEW ENTRANTS 44

6.2.2 INTENSITY OF COMPETITIVE RIVALRY 44

6.2.3 THREAT OF SUBSTITUTES 44

6.2.4 BARGAINING POWER OF SUPPLIERS 44

6.2.5 BARGAINING POWER OF BUYERS 45

7 GLOBAL SUPERALLOYS MARKET, BY PRODUCT

7.1 INTRODUCTION 46

7.2 NICKEL-BASED 48

7.3 COBALT-BASED 49

7.4 IRON-BASED 50

8 GLOBAL SUPERALLOYS MARKET, BY APPLICATION

8.1 INTRODUCTION 52

8.2 AEROSPACE & DEFENSE 54

8.3 ENERGY 55

8.4 INDUSTRIAL GAS TURBINE 56

8.5 AUTOMOTIVE 57

8.6 OIL & GAS 58

8.7 OTHERS 59

9 GLOBAL SUPERALLOYS MARKET, BY REGION

9.1 INTRODUCTION 61

9.2 NORTH AMERICA 65

9.2.1 US 68

9.2.2 CANADA 70

9.3 EUROPE 72

9.3.1 GERMANY 75

9.3.2 RUSSIA 77

9.3.3 UK 79

9.3.4 FRANCE 81

9.3.5 SPAIN 83

9.3.6 ITALY 85

9.3.7 POLAND 87

9.3.8 REST OF EUROPE 89

9.4 ASIA PACIFIC 91

9.4.1 CHINA 94

9.4.2 JAPAN 96

9.4.3 INDIA 98

9.4.4 SOUTH KOREA 100

9.4.5 INDONESIA 102

9.4.6 AUSTRALIA & NEW ZEALAND 104

9.4.7 REST OF ASIA PACIFIC 106

9.5 LATIN AMERICA 108

9.5.1 BRAZIL 111

9.5.2 MEXICO 113

9.5.3 ARGENTINA 115

9.5.4 REST OF LATIN AMERICA 117

9.6 THE MIDDLE EAST AND AFRICA 119

9.6.1 TURKEY 122

9.6.2 EGYPT 124

9.6.3 SAUDI ARABIA 126

9.6.4 UAE 128

9.6.5 ISRAEL 130

9.6.6 REST OF MIDDLE EAST AND AFRICA 132

10 COMPETITIVE LANDSCAPE

10.1 COMPETITIVE LANDSCAPE 134

10.1.1 INTRODUCTION 134

10.1.2 KEY DEVELOPMENT ANALYSIS 134

10.1.3 MARKET STRATEGY ANALYSIS 135

11 COMPANY PROFILES

11.1 HAYNES INTERNATIONAL 136

11.1.1 COMPANY OVERVIEW 136

11.1.2 FINANCIAL OVERVIEW 137

11.1.3 PRODUCTS OFFERED 137

11.1.4 KEY DEVELOPMENTS 138

11.1.5 SWOT ANALYSIS 139

11.1.6 KEY STRATEGIES 139

11.2 ALLEGHENY TECHNOLOGIES INC 140

11.2.1 COMPANY OVERVIEW 140

11.2.2 FINANCIAL OVERVIEW 141

11.2.3 PRODUCTS OFFERED 142

11.2.4 KEY DEVELOPMENTS 143

11.2.5 SWOT ANALYSIS 144

11.2.6 KEY STRATEGIES 144

11.3 SPECIAL METALS CORPORATION 145

11.3.1 COMPANY OVERVIEW 145

11.3.2 FINANCIAL OVERVIEW 145

11.3.3 PRODUCTS OFFERED 145

11.3.4 KEY DEVELOPMENTS 146

11.3.5 SWOT ANALYSIS 147

11.3.6 KEY STRATEGIES 147

11.4 APERAM 148

11.4.1 COMPANY OVERVIEW 148

11.4.2 FINANCIAL OVERVIEW 149

11.4.3 PRODUCTS OFFERED 149

11.4.4 KEY DEVELOPMENTS 151

11.4.5 SWOT ANALYSIS 152

11.4.6 KEY STRATEGIES 152

11.5 AMG ADVANCED METALLURGICAL GROUP 153

11.5.1 COMPANY OVERVIEW 153

11.5.2 FINANCIAL OVERVIEW 154

11.5.3 PRODUCTS OFFERED 154

11.5.4 KEY DEVELOPMENTS 155

11.5.5 SWOT ANALYSIS 156

11.5.6 KEY STRATEGIES 156

11.6 DONCASTERS GROUP LTD 157

11.6.1 COMPANY OVERVIEW 157

11.6.2 FINANCIAL OVERVIEW 158

11.6.3 PRODUCTS OFFERED 158

11.6.4 KEY DEVELOPMENTS 159

11.6.5 SWOT ANALYSIS 159

11.6.6 KEY STRATEGIES 159

11.7 SUPREME ENGINEERING LTD 160

11.7.1 COMPANY OVERVIEW 160

11.7.2 FINANCIAL OVERVIEW 160

11.7.3 PRODUCTS OFFERED 161

11.7.4 KEY DEVELOPMENTS 161

11.7.5 SWOT ANALYSIS 162

11.7.6 KEY STRATEGIES 162

11.8 THYSSENKRUPP AEROSPACE GERMANY GMBH 163

11.8.1 COMPANY OVERVIEW 163

11.8.2 FINANCIAL OVERVIEW 164

11.8.3 PRODUCTS OFFERED 165

11.8.4 KEY DEVELOPMENTS 166

11.8.5 SWOT ANALYSIS 167

11.8.6 KEY STRATEGIES 167

11.9 CARPENTER TECHNOLOGY CORPORATION 168

11.9.1 COMPANY OVERVIEW 168

11.9.2 FINANCIAL OVERVIEW 169

11.9.3 PRODUCTS OFFERED 169

11.9.4 KEY DEVELOPMENTS 170

11.9.5 SWOT ANALYSIS 171

11.9.6 KEY STRATEGIES 171

11.10 VDM METALS 172

11.10.1 COMPANY OVERVIEW 172

11.10.2 FINANCIAL OVERVIEW 172

11.10.3 PRODUCTS OFFERED 172

11.10.4 KEY DEVELOPMENTS 172

11.10.5 SWOT ANALYSIS 173

11.10.6 KEY STRATEGIES 173

12 APPENDIX

12.1 REFERENCES 174

12.2 RELATED REPORTS 174

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