Nickel Alloys Market - Forecast(2023 - 2028)

Report Code: CMR 88979 Report Format: PDF + Excel
Nickel Alloys Market size is forecast to reach $15.66 billion by 2025, after growing at a CAGR of 3.8% during 2020-2025.Nickel alloys provides immense strength at extremely high temperatures; owing to its properties these are mostly preferred in aerospace industry. Aerospace and automotive is the fastest-growing market due to the mass production of parts using nickel alloys due to the properties offered by nickel alloys in terms of corrosion resistance, strength, durability, metallurgical reliability, textile capability and weld ability which will enhance the demand of Nickel Alloys Industry over the forecast period.

Report Coverage
The: “Nickel Alloys Market Report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Nickel Alloys Industry.

By Nickel Alloy Type: Wrought Nickel, Nickel-Iron Alloys, Nickel-Copper Alloys, Nickel-Molybdenum Alloys, Nickel-Chromium Alloys, Nickel-Chromium-Iron Alloys, Nickel-Chromium-Molybdenum Alloys, Nickel-Chromium-Cobalt Alloys and Nickel-Titanium Alloys 
By Function: High Performance Alloy, Heat-Resistant, Corrosion Resistance, Low-Expansion Alloys and Electrical-Resistance Alloys
By Application: Aircraft, Automotive, Steam Turbine, Pharmaceuticals, Nuclear Power, Chemical & Petrochemical and Others 
By Geography: North America, Asia Pacific, Europe, Middle East & Africa, South America and Others

Key Takeaways
  • Nickel alloy has a combination of unique properties such as ductility, malleability, corrosion resistance and superior strength and also a conductor of heat and electricity, which makes them suitable for specialized applications in various end-use industries.
  • Nickel alloy contains about72-83% of highest strong magnetic properties and are mainly used in transformers, inductors, electrical amplifiers, and electrical shielding and memory storage systems.
  • Nickel explosives leads to oxidative damage which affects the kidney and liver causing health hazards such as lung and nasal sinus cancers which acts as one of the main challenge for Nickel Alloys Market.
  • The COVID-19 pandemic has quickly and severely affected the globally integrated automotive industry. Symptoms include a disruption of shipments of Chinese products, large-scale production interruptions throughout Europe, and the closure of assembly plants in the US. This puts heavy pressure on an industry that is already facing a slowdown in global demand and is expected to increase merger & acquisition activity.

Nickel Alloy Type- Segment Analysis
Nickel Copper Alloy segment held the largest share in the Nickel Alloys Market in 2019. Nickel Copper Alloys have excellent characteristics such as high strength, good corrosion resistance, flexibility, and low temperature co-efficient of electrical resistance which are used in the end - use industry. Increasing use of Nickel Copper Alloy in the manufacture of cooling circuits, ammunition, sea water corrosion-resistant assemblies and condenser tubes would fuel market demand over the predicted era.

Function - Segment Analysis
Corrosion Resistance segment held the largest share in the Nickel Alloys Market in 2019. The marine industry aims at producing seawater Nickel Alloy piping due to its complete resistance to barnacles. Nickel Copper Alloys are highly corrosion resistant alloy which makes seawater desalination, water systems and firefighting systems very reliable. Using Copper Nickel Alloys in various marine products such as valves, pumps, fittings, and sheathing for ship hulls, can maintain good corrosion resistance even in harsh environments.

Application - Segment Analysis
Automotive sector is expected to be one of the largest markets for nickel alloys growing with a CAGR of 4.1% during the forecast period 2020-2025. Nickel alloys are commonly used in the automotive sector for their corrosion resistance as well as for their visual appearance when polished for instance, car trims. Nickel ensures that automotive bodies are strong, durable and can help absorb impact of collisions by crumpling rather than fracturing. Inconel and Incoloy alloy is a type of Nickel Alloy mostly used in automotives because of its ability to retain its strength and resistance to corrosion in myriad applications within the production of motor vehicles. Also, use of nickel alloys for spark plugs, diesel valves, thermostats, turbochargers, plates, and casings for many different automotive parts and products to reduce the total weight of the cars and make it fuel-efficient will lead to increase in demand of Nickel Alloys Market in the forecast period.

Geography- Segment Analysis
Asia Pacific held the largest share with 39.6% in the Nickel Alloys Market in 2019. Factors contributing to increased demand for nickel alloys in the Asia Pacific region are increasing production in the manufacturing sector to satisfy transportation requirements for superior quality goods and growing exports from the country. The rising population and growing consumer preferences for automotive will likely fuel nickel alloys market growth in China and India. Increased passenger traffic is anticipated to boost market growth in the coming years, thus boosting demand for automotive. According to International Trade Administration, China is the largest vehicle market in the world, with the Chinese government expecting car production to reach 30 million units by 2020, and 35 million by 2025. Also, according to India Brand Equity Foundation in 2018, India became the fourth largest auto market with sales increasing 8.3% year-on-year to 3.99 million units. It was also the seventh largest manufacturer of commercial vehicles in 2018.

Drivers –Nickel Alloys Market

  • Increasing use of Nickel Alloy in Nuclear Power Plant
Nickel containing corrosion and heat-resistant alloys play an important role in ensuring the integrity, durability and long-term performance of nuclear power stations. Nickel alloys are used in both heat transfer and cooling systems inside the reactor vessel. In addition, hastelloy is used to resist molten salts used as a fuel and coolant in the early development of molten salt nuclear reactors for propulsion and power generation. Significant heat transfer processes are used in producing energy at both nuclear and fossil-fired power plants such as steam engines, heat exchangers, coolers, condensers, reservoirs, pipe work, valves and fittings. Copper-nickel is best suited for these applications. Nickel alloy has been used in several cooling water systems that are using seawater as the process water or where corrosion is a big concern. Also, Nickel alloys are commonly used for waste storage containers and glove boxes as well as heat exchangers and other transport equipment.

  • Increasing demand from aerospace industry 
Nickel alloys are commonly used in the aerospace industry, particularly in engine manufacturing. Owing to the superior property of Nickel Alloy compared to other materials, such as steel and stainless steel, nickel alloys are used to produce various parts of aircraft engines. In addition, inconel alloy a type of nickel alloy is mostly used in turbine engines because of its ability to retain its strength and resistance to corrosion in very high temperature conditions. Use of Inconel alloy in manufacturing aerospace products reduces the total weight of the aircraft and makes it fuel-efficient.  With an increase in the passenger air travel, the global aerospace industry is growing at a significant pace.  New aircrafts is introduced by the airline companies in order to expand its businesses. The number of people using air transport is growing, which in turn is increasing demand for new aircraft. This demand is expected to drive the growth of the companies supplying the aviation manufacturing industry with aerospace components. According to the International Civil Aviation Organization, 1606 new commercial aircraft were manufactured by the major world manufacturers in 2018.

Challenges –Nickel Alloys Market

  • Health Risks of Nickel Consumption 
About 10-20% population today is allergic to nickel. Allergic reaction is the most common health hazard caused by nickel. Prolonged contact of nickel with the skin may lead to allergic skin reaction that may present as a skin rash at the site of contact, such as eczema and sometimes dermatitis.  Asthma is developed by some people due to the exposure of nickel via inhalation. Breathing dust, drinking water, consuming food or smoking tobacco, will lead humans to consume small amount nickel into their body. Nickel particles are irritants to the lungs and can induce pneumonitis. Nickel exposure causes serious health hazards such as chronic bronchitis, reduced lung function, and cancer of lung and nasal sinus.

Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Nickel Alloys market. In 2020, the market of Nickel Alloys Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Nickel Alloys Market are Allegheny Technology Incorporated, Aperam S A, Thyssenkrupp AG, VDM Metals GmbH, Carpenter Technology Corporation, Cogne Acciai Speciali S.P.A, Columbia Metal Ltd, Haynes International Inc, JLC Electromet Pvt. Ltd., Kennametal, Inc, Neonickel, Sandvik Material Technology among others.

Acquisitions/Technology Launches
  • In February 2018, Sandvik Material Technology invested about SEK 200 million in a new plant for manufacturing of nickel metal powders.

1. Nickel Alloys Market - Overview
        1.1 Definitions and Scope
2. Nickel Alloys Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Nickel Alloys Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Nickel Alloys Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Nickel Alloys Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Nickel Alloys Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Nickel Alloys Market - Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Nickel Alloys Market - By Product Type (Market Size -$Million / $Billion)
9. Nickel Alloys Market - By Type (Market Size -$Million / $Billion)
        9.1 Heat Resistant Nickel Alloys
        9.2 Corrosion Resistant Nickel Alloys
        9.3 Electronic Alloys
        9.4 High Performance Nickel Alloys
        9.5 Others
10. Nickel Alloys - By End-user (Market Size -$Million / $Billion)
        10.1 Aerospace
        10.2 Electrical & Electronics
        10.3 Oil & Gas
        10.4 Chemcial Process Industry
        10.5 Automotive
        10.6 Others
11. Nickel Alloys - By Geography (Market Size -$Million / $Billion)
        11.1 Nickel Alloys Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Nickel Alloys- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Nickel Alloys- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Nickel Alloys - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Nickel Alloys - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Nickel Alloys Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Nickel Alloys Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Nickel Alloys Market - Key Company List by Country Premium
15. Nickel Alloys Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Allegheny Technology Incorporated
        15.3 Aperam S A
        15.4 Carpenter Technology Corporation
        15.5 Cogne Acciai Speciali S.P.A
        15.6 Columbia Metal Ltd
        15.7 Haynes International Inc
        15.8 Jlc Electromet Pvt Ltd
        15.9 Kennametal, Inc
        15.10 Neonickel
        15.11 Precision Castparts Corporation
        15.12 Rolled Alloys, Inc
        15.13 Sandvik Material Technology Ab
        15.14 Sanyo Special Steel Co., Ltd
        15.15 Sij D D
        15.16 Thyssenkrupp Ag
        15.17 Unifit Metalloys, Inc
        15.18 Vdm Metal Gmbh
        15.19 Villares Material
        15.20 Voestalpine Ag
        15.21 Wall Colmonoy Corporation
        15.22 Company 21
        15.23 Company 22 & More
*Financials would be provided on a best efforts basis for private companies
16. Nickel Alloys Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Nickel Alloys Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends