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2020
Global Superalloy Honeycomb Materials Market

Global Superalloy Honeycomb Materials Market by Material Type (Nickel, Stainless Steel, and Others) and Application (Aerospace & Defense, Automotive, Power, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
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A06649
Pages: 273
Jul 2020 | 4146 Views
Author(s) : Yamini Parihar , Eswara Prasad
Tables: 165
Charts: 59
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Superalloy Honeycomb Materials Market Outlook - 2027

The global superalloy honeycomb materials market size was valued at $1.4 billion in 2019, and is anticipated to generate $2.4 billion by 2027. The market is projected to experience growth at a CAGR of 7.6% from 2020 to 2027.

Since the outbreak due to COVID-19, several automotive giants as well as aerospace giants halted their operations adhering to lockdown guidelines. Although the operations have resumed with limited workforce and stricter guidelines, the disruption in demand and supply chain impacts the market growth.

 

Superalloys are referred to as high-temperature alloys, as they maintain their strength and toughness at elevated temperature. These alloys possess properties such as high mechanical strength, creep resistance, significant surface stability, and corrosion & oxidation resistance at high temperature.

Superalloy-Honeycomb-Material-Market-2019-2027

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There has been a rise in utilization of superalloy honeycomb in the aviation and automotive industries as it facilitates improved operating efficiency and reduced environmental emissions. This has led to increase in use of these superalloys in gas turbines and oil & gas equipment. However, the high cost of base materials used for developing the superalloys restrains the market growth. Meanwhile, surging demand from emerging economies is anticipated to offer lucrative opportunities for the growth of the superalloy honeycomb materials industry.

The key players operating in the superalloy honeycomb materials industry are Oerlikon Metco, Haynes International, Rotec, Hamilton Precision Metals (Ametek), Hi Tech Honeycomb, Quality Honeycomb, Allegheny Technologies, Inc., Chromalloy Gas Turbine, LLC, Forged Solutions Group, Indy Honeycomb, Ander Beijing, and Howmet Aerospace, Inc. The key players have adopted strategies such as partnership and business expansion to sustain the intense competition in the market.

Superalloy Honeycomb Materials Market, Material Type

Based on material type, the market is segmented into nickel, stainless steel, and others. Nickel is a commonly used in superalloys, owing to a wide range of applications. It is cost-effective, can withstand temperatures from −148 to 176° Fahrenheit, and is resistant to most chemical solvents. Nickel dominated the market in 2019, whereas stainless-steel is expected to grow at the highest CAGR, owing to stability when exposed to harsh thermal, chemical, and ultraviolet environments while retaining the properties.

Global Superalloy Honeycomb Materials Market
By Material Type

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Stainless steel is projected as the most lucrative segment.

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Superalloy Honeycomb Materials Market, by Application

On the basis of application, the aerospace & defense segment dominated the market share for 2019. However, the automotive segment is expected to grow at the higher CAGR during the forecast period, owing to rise in demand of vehicles. Furthermore, the diesel, petrol, and hybrid versions of any automotive vehicle requires turbochargers. These turbochargers and exhaust valves are made of superalloys. The turbochargers work on the exhaust gas from a turbine-driven engine. They increase the efficiency of an engine by forcing compressed air in the combustion chamber.

Global Superalloy Honeycomb Materials Market
By Application

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Automotive is projected as the most lucrative segment.

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Superalloy Honeycomb Materials Market, by Region

Region wise, the superalloys honeycomb material market was dominated by North America in 2019, while Asia-Pacific is expected to grow at a higher CAGR, owing to high demand from emerging economies. Asia-Pacific is an emerging region in the superalloys honeycomb material market, owing to the demand from emerging economies in the region such as China, India, Australia, and South Korea.

Global Superalloy Honeycomb Materials Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific is projected as the most lucrative market.

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Key Benefits For Stakeholders

  • The report provides an in-depth analysis and superalloy honeycomb materials market forecast along with the current and future market trends.
  • This report highlights the key drivers, opportunities, and restraints of the superalloy honeycomb materials market along with the impact analyses during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the superalloy honeycomb materials industry for strategy building.
  • A comprehensive analysis of the factors that drive and restrain the superalloy honeycomb materials market growth is provided.
  • The qualitative data in this report aims on superalloy honeycomb materials market trends, dynamics, and developments.
  • The superalloy honeycomb materials market size is provided in terms of revenue.
  • The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable superalloy honeycomb materials market share.

Key Market Segments & Key Market Players

Segments Sub-segments
By Material Type
  • Nickel
  • Stainless Steel
  • Others

By End Use Industry
  • Aerospace & defense
  • Automotive
  • Power
  • Others

By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Key Market Players
  • ALLEGHENY TECHNOLOGIES INCORPORATED
  • BEIJING ANDER TECHNOLOGIES
  • CHROMALLOY GAS TURBINE LLC
  • FORGED SOLUTIONS GROUP (FIRTH RIXSON)
  • HAMILTON PRECISION METALS
  • HAYNES INTERNATIONAL, INC.
  • HI TECH HONEYCOMB INC.
  • HOWMET AEROSPACE, INC.
  • INDY HONEYCOMB
  • OERLIKON METCO SWITZERLAND
  • QUALITY HONEYCOMB
  • JSC ROTEC
 

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The economic growth of Asia-Pacific fosters the growth of the manufacturing sector leading to immense growth of automotive, locomotive, and aerospace industries, which are the major consumers of honeycomb sandwich material. Increase in investment in the marine industry in Asia-Pacific especially in India and China boosts the consumption of honeycomb sandwich material. The aerospace & defense and automotive segments accounted for the major market share, and are expected to continue its dominance during the forecast period. The increase in investment by the global space agencies for the development of satellites further drives the market growth. Moreover, ease of honeycomb sandwich manufacturing using 3D printing technology offers lucrative opportunities for the industry growth.

 

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FREQUENTLY ASKED QUESTIONS?

A. The total market size of global Superalloy honeycomb materials Market is $1,354.7 million in 2019.

A. The emerging players in Superalloy honeycomb materials industry are Oerlikon Metco, Haynes International, Rotec, Hamilton Precision Metals (Ametek), Hi Tech Honeycomb, Quality Honeycomb, Allegheny Technologies, Inc., Chromalloy Gas Turbine, LLC, Forged Solutions Group, Indy Honeycomb, Ander Beijing, and Howmet Aerospace, Inc.

A. Automotive industry is the major are of development in the industry followed by power industry.

A. Aerospace & defense industry is projected to increase demand for superalloy honeycomb materials market.

A. Increase in production of various aircrafts and growth in the space industry across the world. Remarkable mechanical properties and lightweight, helps conserving fuel and reducing the weight of the vehicle thus superalloy honeycombs are used.

A. Aerospace & defense and nickel segments are the most influencing segment in the global Superalloy honeycomb materials market.

A. North America holds the maximum market share of the Superalloy honeycomb materials market.

A. Automotive and aerospace & defense applications are expected to drive the adoption of Superalloy honeycomb materials.

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