(Bussiness Sales)
+18882123539 (Us - Toll Free)
+919997112116 (Rest Of World)
Global Petroleum Resin Market Research Report-Forecast till 2025

Global Petroleum Resin Market Research Report-Forecast till 2025

Home / Categories / Chemicals and Materials
Global Petroleum Resin Market Research Report-Forecast till 2025
Global Petroleum Resin Market Research...
Report Code

Publish Date

$ 4450/-
This is a single user license, allowing one specific user access to the product. The product is a PDF.
$ 6250/-
This is an enterprise license, allowing all employees within your organization access to the product. The product is a PDF..

Global Superalloys Market: Information by Product (Nickel-Based, Cobalt-Based, and Iron-Based), Application (Aerospace & Defense, Energy, Industrial Gas Turbine, Automotive, Oil & Gas), and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)-Forecast till 2025 


Market Analysis


The global superalloys market is projected to reach a market value of over USD 10,700 million with a healthy CAGR of 7.64% by the end of 2025. Superalloys are categorized as high-performance alloys owing to its superior properties such as resistance to oxidation and corrosion, high mechanical strength and excellent surface stability. These alloys has ability to resist creep deformation at elevated temperature. A superalloy contains base alloying agents such as cobalt, nickel-iron, nickel and has matrix with austenitic FCC crystal structure. Some of the prominent applications of superalloys include industrial gas turbine, turbocharger, combustion chambers, exhaust valve of reciprocating engines and pumps of chemical industry. The major consumer of super alloys is aerospace, oil & gas and energy industry owing to high dimensional stability, stiffness and excellent heat resistant properties offered by these alloys. They have improved operational efficiency and reduced environmental emission which led to an increase use of superalloys in industrial gas turbine and jet engines. Energy sector is expected to grow at highest CAGR during the forecast period. Superalloys are used in manufacturing of nuclear power plants components due to excellent cryogenic temperature property and high ductility, thus favoring the product demand in power and energy industry. Sanguine demand of superalloys in manufacturing aircraft component and increasing growth of aerospace and defense industry across emerging economies are likely to drive market growth. increasing number of aircraft fleets are likely to boost superalloys demand. Major aircraft producer like Boeing and Airbus has order backlog of over USD 800 billion and has racked up orders over 20,000 jetliners in 2019. Furthermore, the Boeing Company projected deliveries of around 44,000 aircraft by 2038. Thus, growing expenditure in the aerospace and defense industry are likely to drive the market growth. Additionally, superalloys are used in automotive industry owing to surging demand for lightweight parts to reduce carbon emission and increase fuel efficiency are expected to drive the market growth. Energy & Power accounted for significant market share in global super alloys market. In coal fired heat generation, superalloys are required in superheater tubes with fire-side corrosion resistant, steam-side oxidation resistant properties and oxidation resistance properties. Moreover, in nuclear power plants, heat exchange tubes used for steam generator are made of superalloys exhibiting excellent solution corrosion resistance. Thus, rising demand for energy with growing manufacturing industry and increased population are likely to drive the superalloy market. High cost of alloys are expected to hamper the market growth. However, increasing advancement in superalloy properties are likely to offer lucrative opportunity for market players. High growth of end use industries especially in US, China, Canada and France is also anticipated to favor the market growth during the forecast period. 


Market Segmentation


The global superalloys market has been segmented into product and application. The different superalloys available in the market include nickel-based, cobalt-based, and iron-based. Among these, the nickel-based segment dominated the market with a share of over 45% in 2018. Nickel based superalloys have high mechanical strength and corrosion resistance at elevated temperature. Some of the prominent applications of nickel-based superalloys are turbocharger discs for large diesel engines and high-performance racing car engines. Increasing adoption of nickel alloys in combustion engines and power generation in thermal, nuclear and fossil fuel power plants are expected to drive the superalloys market. Based on application, the global superalloys market is segmented into aerospace & defense, energy, industrial gas turbine, automotive, oil & gas, and others. Among applications, aerospace & defense segment accounted for the largest market share and is projected to be the leading consumer of superalloys in the years to follow. Increasing demand for nickel superalloys in turbine blades, discs, and other jet engine parts owing to excellent adhesion and erosion resistance are expected to drive product demand in aerospace & defense industry. Over the last decade, the thrust of jet engines has increased more than 60% whereas, the fuel consumption has fallen by 20%, thus results in improvement in the high temperature superalloys. 


Regional Analysis


The global superalloys market has been segment based on regions like North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America region holds largest market share in 2018 and expected to witness same growth during forecast period. Rising demand for commercial aircraft with growing travelling activities are expected to drive the regional growth. Moreover, presence of established players operating in aircraft components are expected to boost the market growth. The market in Asia-Pacific is projected to register the highest CAGR owing to growing aerospace, automotive and defense industry. Countries like China, India, Japan and South Korea are contributing to the regional market growth. For instance, Indian Aviation industry is expected to invest around USD 15 billion by 2022. Moreover, rising government initiatives are expected to fuel the demand for superalloys market. 

Major Players


The key players operating in the global superalloys market are Aperam (Luxembourg), AMG Advanced Metallurgical Group (The Netherlands), Doncasters Group Ltd (UK), HAYNES INTERNATIONAL (US), Allegheny Technologies Inc (US), Special Metals Corporation (US), Supreme Engineering Ltd (India), thyssenkrupp Aerospace Germany GmbH (Germany), Carpenter Technology Corporation (US), and VDM Metals (Germany), among others.


500 N Michigan Ave, Suite 600, Chicago, Illinois 60611, UNITED STATES