Global Nickel Alloy Market Is Expected To Reach Around USD 21.77 Billion By 2032

Zion Market Research has published a new report titled “Nickel Alloy Market By Function (Heat Resistant, Corrosion Resistant, High Performance, and Electronic) and By End-User (Aerospace & Defense, Oil & Gas, Electrical & Electronics, Energy & Power, Chemical, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032”. According to the report, the global nickel alloy market was USD 13.25 Billion in 2023 and is expected to reach around USD 21.77 Billion by 2032, at a CAGR of 5.67% between 2024 and 2032.

Nickel alloys have versatile properties like heat resistance, corrosion resistance, chemical resistance, and electronic resistance. They are also used in turbines in power generation, aircraft gas turbines, aircraft parts, marine fasteners, etc. Nickel alloy is a flexible material that is used across different industries, such as electronics, energy and power, pulp and paper, oil and gas, defense, and automotive.

Browse the full “Nickel Alloy Market By Function (Heat Resistant, Corrosion Resistant, High Performance, and Electronic) and By End-User (Aerospace & Defense, Oil & Gas, Electrical & Electronics, Energy & Power, Chemical, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032” Report at https://www.zionmarketresearch.com/report/nickel-alloy-market

The global nickel alloy market is expected to grow rapidly, owing to the rising demand for high-performance nickel alloy from various end-user industries, mainly from oil and gas and aerospace and defense industries. Nickel alloys are majorly used in the aerospace industry for engine production. The aerospace and defense sector is expected to hold the largest share in this market over the forecast timeframe, due to the growing number of aircraft deliveries. However, the volatility in raw material prices may hamper this market’s growth. Furthermore, the sudden rise in automotive sales, particularly in the emerging economies, is expected to offer additional growth opportunities for the nickel alloy market in the years ahead.

The global market for nickel alloy is fragmented based on function and end-user. By function, the nickel alloy market includes heat resistant, electronic, high performance, and corrosion resistant alloys. The high-performance alloys are estimated to lead the nickel alloy market in the future, owing to the rising demand for nickel alloys, mainly from oil and gas, aerospace and defense, and chemical industries. High-performance alloys are heat-resistant alloys, made from nickel and iron, which perform exceptionally well at extreme temperatures and pressures. Based on end-user, the market is classified into oil and gas, chemical, aerospace and defense, energy and power, automotive, electrical and electronics, and others. There has been a huge demand for nickel alloys for manufacturing aircraft components like blades, exhaust systems, and engine components, which is fuelling the aerospace and defense segment. Increasing civil and military aircraft production is expected to further supplement this segment’s growth in the upcoming years.

The Asia Pacific dominated the nickel alloy market globally in 2023 and is expected to grow at the fastest rate in the future. This can be attributed to the region’s flourishing automotive, aerospace and defense, and energy and power sectors. India, South Korea, China, and Japan are the major contributors in the nickel alloy market. North America, over the forecast timeframe, is anticipated to contribute significantly to this global market. Latin America is expected to witness lucrative market growth over the forecast time period, owing to rapid industrialization in Brazil.

Some key manufacturers operating in the nickel alloy market are ThyssenKrupp, Sandvik Material Technology, Haynes International, Precision Castparts, Allegheny Technologies, Aperam, Carpenter Technology, VDM Metals, Ametek, Rolled Alloys, Kennametal, and Columbia Metals.

This report segments the global nickel alloy market into:

Global Nickel Alloy Market: Function Analysis

• Corrosion Resistant
• Heat Resistant
• High Performance
• Electronic

Global Nickel Alloy Market: End-User Analysis

• Aerospace and Defense
• Oil and Gas
• Electrical and Electronics
• Energy and Power
• Chemical
• Automotive
• Others

Global Nickel Alloy Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com