Superalloys Market Overview:
Global Superalloys Market size was valued at $3,727 million in 2015, and is anticipated to grow at a CAGR of 9.5% to reach $7,150 million by 2022. Superalloys are metallic alloys that exhibit excellent strength, creep resistance, significant surface stability, and corrosion resistance at high temperature. Owing to these attributes, superalloys are widely adopted in gas turbine, oil & gas equipment, aerospace, and others, thus fueling the market growth.
The base alloying element used for superalloys are nickel, cobalt, and iron. These alloys facilitate improved operating efficiency and reduce environmental emissions. Presently, there is an increased usage of superalloys owing to the increase in need for high-strength materials that can withstand high temperature and resist creeping in aerospace and aircraft applications. The growth of the market is further driven by increase in adoption of superalloys in aerospace and power industries. However, high cost of these alloying metals is expected to hamper the growth of the market.
The report mainly emphasizes on the different types of base materials used to manufacture superalloys, which include nickel-based, cobalt-based, and iron-based superalloys. Applications covered in this analysis include aerospace, industrial gas turbine, automotive, oil & gas, industrial, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In addition, the report highlights different factors that impact the growth of the global market, such as key drivers, restraints, growth opportunities, and the role of different key players. It presents the quantitative data, in terms of both value and volume, which are gathered from the secondary sources such as company publications, Factiva, Hoovers, OneSource, and others. The data is validated after analysis by C-level executives and directors of the companies present in the market.
Global Superalloys Market Segmentation
North America leads the global superalloys market, in terms of both value and volume. However, Asia-Pacific is expected to witness the highest growth rate during 2016‐2022, owing to the rapid industrialization, growth in power industries, and existence of developing economies such as China, Japan, South Korea, and India.
Global Superalloys Market Share, By Geography, 2015 & 2022 (%)
Top Investment Pocket
Automotive is the most lucrative application segment in the market, followed by oil & gas segment. Superalloys are widely used in automotive applications due to their ability to retain most of their high strength at higher temperature while exhibiting acceptable physical properties at low temperature. In automotive field, high strength of superalloys facilitates the production of lighter weight parts as compared to conventional materials.
North America Superalloys Market Size
North America witnessed highest demand for superalloys owing to the increased utilization of aircrafts and notable growth in aerospace industry. U.S. dominated the North America superalloys market in 2015, in terms of both value and volume.
Canada Superalloys Market Growth, 2014-2022 ($Million)
The key players profiled in the report are Allegheny Technologies Incorporated (ATI), Haynes International, Special Metals Corporation, Aperam, Carpenter Technology, AMG Superalloys, Doncasters, Nippon Yakin Kogyo, Universal Stainless, and Danyang City Kaixin Alloy Material Co. Ltd.
Other major players (not profiled in report) in the market include Arconic, Fushun Special Steel, VDM Metals, VSMPO-AVISMA, CISRI Gaona, Changcheng Special Steel, IMET Alloys, Mattco Forge Inc., and United Performance Metals.
Key Market Benefits
- This report provides an extensive analysis of the current and emerging market trends & dynamics of the global superalloys market.
- Superalloys market trend analysis for all the regions is done by constructing estimations for key segments between 2014 and 2022, which assist to identify the prevailing opportunities.
- The report assists to understand the strategies adopted by the leading companies in the industry.
- This study evaluates competitive landscape of the superalloys industry to understand the market scenario across the geographies.
- Extensive analysis is conducted by key player positioning and monitoring the top competitors within the global market.
Superalloys Market Key Segments
By Base Material
- Commercial & cargo
- Industrial Gas Turbine
- Oil & Gas
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA