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Global Superalloys (Fe-, Ni- and Co- based) Market Insight2021-12-31 Comments
The Superalloys (Fe-, Ni- and Co- based) is forecast to crazy increase over the next years. According to the World Knowledge Information (WKI) “Global Superalloys (Fe-, Ni- and Co- based) Professional Survey Report 2021, Forecast to 2026”, Because they maintain their strength and toughness at high temperatures. These alloys have high mechanical strength, creep resistance, outstanding surface stability, corrosion resistance and oxidation resistance at high temperatures. Therefore, the application is more and more extensive, and the demand for it is also increasing. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 8,25% base on WKI regression analysis model.
“At present, the superalloy market is concentrated, and if you want to join the market, it is recommended that new manufacturers adopt cooperative relations to obtain better development.”said Jennie, Senior analyst, Chemical industry Market Research Center in WKI.
Super alloy is an alloy with the following key characteristics: excellent mechanical strength, resistance to thermal creep deformation, good surface stability, and resistance to corrosion or oxidation. The crystal structure is usually face-centered cubic austenite. Because of these characteristics, superalloys are widely used in gas turbines, oil and gas equipment, aerospace and other fields, thereby driving market growth. The basic alloying elements used in super alloys are nickel, cobalt, and iron. These alloys help improve operating efficiency and reduce environmental emissions. At present, due to the increasing demand for high-strength materials with high temperature resistance and creep resistance in aerospace and aircraft applications, the use of superalloys has increased. The increase in the use of superalloys in the aerospace and power industries has further promoted market growth. However, the high cost of these alloy metals is expected to hinder market growth.
Major players operating in the superalloy market include: Allegheny Technologies Incorporate (ATI), Arconic, Inc., Beijing International Aviation Materials Corporation (BIAM), Carpenter Technology Corporation, Chromalloy Gas Turbine LLC (Chromalloy), Doncasters Group, Forged Solutions Group (Firth Rixson), Haynes International, Inc., Hitchiner Manufacturing Co., Inc., Howmet Aerospace, Inc., IHI Corporation (IMM), Mishra Dhatu Nigam Limited (MIDHANI), Treibacher Industrie AG, Cannon Muskegon.
Segmentation of Superalloys (Fe-, Ni- and Co- based) Market:
Divided by type, the superalloy market is mainly divided into: iron-based, nickel-based, and cobalt-based.Among them, cobalt-based superalloy occupies a larger share in the market because of its high-temperature mechanical properties and oxidation resistance. And compared with nickel-based superalloys, it has higher stability, high strength and higher vulcanization resistance.Divided by application, the superalloy market is mainly divided into: aerospace, IGT (electric power), IGT (mechanical), industrial, automotive, oil and gas, and others.Among them, the aerospace field has a large market share. Due to the multiple applications of superalloys in turbine blades, turbine disks, aero engines and aircraft landing gears, they are also used in jet engines. At the same time, due to the increase in the application of superalloys in turbochargers and exhaust valves, the automotive sector is expected to grow at the fastest rate during the forecast period. Superalloys help reduce the weight of cars and improve engine performance, thereby increasing the fuel efficiency of vehicles, thereby reducing carbon dioxide emissions.
Superalloys (Fe-, Ni- and Co- based) Market: Regional Analysis
In terms of geography, the global Superalloys (Fe-, Ni- and Co- based) market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.Due to the existence of aerospace, oil and gas, automotive, pharmaceutical, energy, and manufacturing industries, North America has a dominant market share. At the same time, due to emerging economies such as China and India, as well as the region’s growing aerospace, marine, oil and gas, automotive, and industrial sectors, the Asia-Pacific region is expected to grow at the fastest compound annual growth rate during the forecast period. This has promoted the demand for superalloys.
Largest share area：North America
Largest share country：the Unite States