Nickel Alloys Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Type (Heat Resistant Nickel Alloys, Corrosion Resistant Nickel Alloys, Electrical Resistant Nickel Alloys, Low-Expansion Nickel Alloys, and Other Types), End-user Industry (Aerospace, Electrical and Electronics, Oil and Gas, Chemical Processing, Automotive, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

4 %

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Market Overview

The market for nickel alloys is expected to grow at a CAGR of more than 4% during the forecast period. The major factor driving the growth of the market studied is rising popularity of electric vehicles. On the flipside, decline in automotive and aerospace industry is expected to hinder the growth of the market studied.

  • Aerospace segment dominated the market with a significant share. However, COVID-19 breakdown across the globe is in turn expected to hinder the market growth.
  • Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period.

Scope of the report

The nickel alloys market report includes:

Type
Heat Resistant Nickel Alloys
Corrosion Resistant Nickel Alloys
Electrical Resistant Nickel Alloys
Low-Expansion Nickel Alloys
Other Types
End-user Industry
Aerospace
Electrical and Electronics
Oil and Gas
Chemical Processing
Automotive
Other End-user Industries
Geography
Production Analysis
United States
Australia
Canada
China
Indonesia
Philippines
Russia
Others
Consumption Analysis
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
United Kingdom
France
Germany
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa

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Key Market Trends

Rising Oil & Gas Activities to Boot the Market Demand

  • Exploration and production in the oil and gas industry are often carried out in challenging environments, with a complex set of expensive equipment, which experience rapid wear and tear. Hence, nickel alloys find extensive applications in the oil and gas industry, in order to protect the components, enhance their corrosion resistance and part life, and reduce the downtime.
  • Owing to its high corrosion resistance, versatility, reliability, and good mechanical properties, they are used in oil and gas applications, such as piping, drilling, pumps, and valves.
  • For instance, nickel combined with stainless steel is used for deep-well tubing, in order to enhance the strength and resistance toward corrosion. Additionally, nickel alloys are used for down-hole jewelry¬†
  • Moreover, nickel alloys are used as clad wellheads for Christmas trees, which help in easy weldability with steel, coupled with enhanced corrosion resistance properties. Furthermore, these alloys are used for transporting wet corrosive oil and gas. Nickel alloys prevent the usage of inhibitors, to protect the pipeline from corrosion.
  • The exploration and production operations have been increasing significantly, as majority of the oil and gas players are looking for new prospects, in terms of availability of crude oil, while employing tertiary recovery methods for mature fields.
  • The increasing number of drilling operations in the North American and Middle Eastern regions is expected to positively impact the demand for nickel alloys during the forecast period.

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China to Dominate the Asia-Pacific Market

  • China is the largest consumer of nickel alloys in the global market and accounted for a healthy share in the global market. increasing demand for electric vehicles is one of the major factors boosting the demand for nickel alloys in the country.
  • In China, a majority of the demand for nickel alloys is from the aerospace and automotive manufacturing segment.
  • In China, there was a significant increase in the demand for batteries, primarily owing to the expanding production and sales of electric cars.
  • China is a leader in the global electric car market, with the sales of new electric vehicles being four times higher than that of the United States.
  • Such growth, in turn, is boosting the demand for the market studied. However, the decline in the aerospace sector due to coronavirus outbreak is expected to hinder the growth of the market.

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Competitive Landscape

The market is consolidated among few players across the globe. The key players include Alloys International, Inc., ATI, CRS Holdings Inc., HAYNES INTERNATIONAL, and Sandvik AB, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Popularity of Electric Vehicles

    2. 4.2 Restraints

      1. 4.2.1 Decrease in Auotomotive and Aerospace Sector

      2. 4.2.2 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Analysis

    6. 4.6 Trade Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Heat Resistant Nickel Alloys

      2. 5.1.2 Corrosion Resistant Nickel Alloys

      3. 5.1.3 Electrical Resistant Nickel Alloys

      4. 5.1.4 Low-Expansion Nickel Alloys

      5. 5.1.5 Other Types

    2. 5.2 End-user Industry

      1. 5.2.1 Aerospace

      2. 5.2.2 Electrical and Electronics

      3. 5.2.3 Oil and Gas

      4. 5.2.4 Chemical Processing

      5. 5.2.5 Automotive

      6. 5.2.6 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Production Analysis

        1. 5.3.1.1 United States

        2. 5.3.1.2 Australia

        3. 5.3.1.3 Canada

        4. 5.3.1.4 China

        5. 5.3.1.5 Indonesia

        6. 5.3.1.6 Philippines

        7. 5.3.1.7 Russia

        8. 5.3.1.8 Others

      2. 5.3.2 Consumption Analysis

        1. 5.3.2.1 Asia-Pacific

          1. 5.3.2.1.1 China

          2. 5.3.2.1.2 India

          3. 5.3.2.1.3 Japan

          4. 5.3.2.1.4 South Korea

          5. 5.3.2.1.5 Rest of Asia-Pacific

        2. 5.3.2.2 North America

          1. 5.3.2.2.1 United States

          2. 5.3.2.2.2 Canada

          3. 5.3.2.2.3 Mexico

        3. 5.3.2.3 Europe

          1. 5.3.2.3.1 United Kingdom

          2. 5.3.2.3.2 France

          3. 5.3.2.3.3 Germany

          4. 5.3.2.3.4 Italy

          5. 5.3.2.3.5 Rest of Europe

        4. 5.3.2.4 South America

          1. 5.3.2.4.1 Brazil

          2. 5.3.2.4.2 Argentina

          3. 5.3.2.4.3 Rest of South America

        5. 5.3.2.5 Middle-East and Africa

          1. 5.3.2.5.1 South Africa

          2. 5.3.2.5.2 Saudi Arabia

          3. 5.3.2.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alloys International, Inc.

      2. 6.4.2 ATI

      3. 6.4.3 BERKSHIRE HATHAWAY INC.

      4. 6.4.4 CRS Holdings Inc.

      5. 6.4.5 HAYNES INTERNATIONAL

      6. 6.4.6 Kennametal Inc.

      7. 6.4.7 NeoNickel

      8. 6.4.8 Sandvik AB

      9. 6.4.9 SANYO SPECIAL STEEL Co., Ltd.

      10. 6.4.10 thyssenkrupp Materials

      11. 6.4.11 voestalpine Specialty Metals

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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