Global Superalloy Honeycomb Materials Market

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.

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.

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.

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.

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.

 Global Superalloy Honeycomb Materials Market Report Highlights