Ni-based Superalloy

The Ni-based superalloy has a stable growing in the past years. According to the WK-chem Research “Global Ni-based Superalloy Professional Survey Report 2024, Forecast to 2029”, global investment in the aerospace sector continues to increase promoted ni-based superalloy industry development. The compound annual growth rate (CAGR) for the 2024-2029　period is projected to be 6.72% base on WK-chem Research regression analysis model.

Analysts’ Viewpoint:

“Although demand from the aerospace and power generation industries has recently slowed in the context of a weak economy, in the long run, the ni-based superalloy market may provide huge opportunities. Therefore, small and medium-sized enterprises can increase their research and development efforts on ni-based superalloy”, said Mike Hide, Data Analyst, Chemical and Material Market Research Center in WK-chem Research.

Market insight:

Increasing global oil and gas drilling activities will drive the sales of ni-based superalloy in the future. Many governments are investing large sums of money to accelerate the growth of the oil and gas industry. This trend will support the expansion of the ni-based superalloy market because the product is widely used in downhole components, tubing, pressure vessels, etc.
The prices of nickel, iron, cobalt, copper, aluminum, titanium and other metal commodities are greatly affected by national income and population, cost and technology, government policies, weather, interest rates and exchange rates. However, fluctuations in raw material prices and high production costs will inhibit the growth of the ni-based superalloy market. In addition, due to the COVID-19 pandemic, the closure of many manufacturing plants around the world will have a negative impact on the demand for alloys for various applications in the short term.

Competition Landscape:

This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading ni-based superalloy companies that include: Sandvik AB, Aperam SA, VDM Metals GmbH , Precision Castparts Corporation, Voestalpine AG, Allegheny Technologies Incorporated, Haynes International, Inc. and Rolled Alloys, Inc.

Segmentation of Ni-based Superalloy Market:

According to the type, the market for ni-based superalloy is divided into: Alloy 600/601/602, Alloy 625, Alloy 718, Alloy 825, Alloy 925, Hastelloy C276/C22/X, Waspaloy, Others. Alloy 718 has the largest market share. Alloy 718 is a nickel-chromium-molybdenum alloy as it provides excellent resistance against pitting and corrosive environments. The alloy offers excellent tensile strength and creep-rupture characteristics at high temperatures. The presence of niobium in the alloy aids in age hardening, thereby simplifying annealing & welding processes. This nickel alloy can be readily fabricated and welded in either a precipitation-hardened or annealed condition. The superalloy is used in a variety of industries such as aerospace, chemical, marine, pollution-control, oil & gas, and power generation.
According to the application, the market for ni-based superalloy is divided into: Aerospace & defense, Power generation, Oil & gas, Refinery, Chemical and Others. Aerospace & defense has the largest market share. In the aerospace and defense fields, ni-based superalloy are used to manufacture gas turbine engine parts, turbine blades, disks, fuselage parts, rocket parts, etc. Some advanced and developing economies are continuously investing in space capabilities and infrastructure to achieve various national goals, such as development and resource management, military success and defense strategy, and leadership and prestige.

Ni-based Superalloy Market: Regional Analysis

In terms of geography, the global ni-based superalloy market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America has the largest market share. This is attributed to the increased consumption of these superalloys in various end-use sectors, especially from the US aerospace and energy sectors. In addition, with the transformation and implementation of policies in the aerospace sector, the inflow of investment will drive regional markets.

Frequently Asked Questions