DUBLIN, July 26, 2017 /PRNewswire/ --
The "Nickel Alloys Market by Function (Corrosion Resistant, Heat Resistant, High Performance, Electronic Alloys), End-Use Industry (Aerospace & Defense, Oil & Gas, Chemical, Energy & Power), and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The nickel alloys market was estimated at USD 12.14 Billion in 2017 and is projected to reach USD 14.68 Billion by 2022, at a CAGR of 3.9% between 2017 and 2022. Increasing demand for nickel alloys from various end-use industries, such as aerospace & defense, oil & gas, chemical, pulp & paper, and energy is expected to drive the demand for nickel alloys during the forecast period.
Among functions, the high performance alloys segment is projected to grow at the highest CAGR during the forecast period. High performance nickel alloys are designed to handle extreme corrosive and high pressure situations, and for this reason, this grade is widely used in the aerospace & defense industry and for oil & gas exploration activities. The growing oil & gas exploration activities along with the growing aerospace industry are expected to drive the growth of this segment during the forecast period.
Based on end-use industry, the aerospace & defense industry segment is estimated to have led the nickel alloys market in 2017. A growing number of passengers are opting for air travel in the emerging economies of the Asia Pacific and the Middle East, which has led airline companies to introduce additional flights and is, in turn, leading to an increase in the demand for new aircraft. The growing aerospace & defense industry is thus driving the market for nickel alloys.
The nickel alloys market in the Asia Pacific is projected to grow at the highest CAGR from 2017 to 2022. The Asia Pacific is a major consumer of nickel alloys, which are used in the oil & gas, chemical, food processing, aerospace & defense, and electrical & electronics, among other industries. The demand for nickel alloys is increasing in both, developed and emerging countries of the region such as Japan, China, India, and Indonesia, among others. Key manufacturers from the US and Western Europe are now focusing on the Asia Pacific region to expand their geographic reach.
There are certain factors that are expected to hinder the growth of the nickel alloys market during the forecast period, which include the rising prices of raw materials required for the manufacture of nickel alloys.
- Aerospace Alloys Inc.
- Allegheny Technologies Incorporated
- Alloy Wire International
- Ametek Inc.
- Aperam S.A.
- Carpenter Technology Corporation
- Cogne Acciai Speciali S.P.A.
- Columbia Metals Ltd.
- Foroni S.P.A.
- Haynes International Inc.
- Jlc Electromet Pvt. Ltd.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Nickel Alloys Market, By Function
7 Nickel Alloys Market, By End-Use Industry
8 Regional Analysis
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/s29sgr/nickel_alloys
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SOURCE Research and Markets