What is Nickel Tube Market?
Nickel tube is widely used in engineering, chemical, fertilizer, automobile, and other industries. In addition, it is also used for both aerospace & chemical applications. Numerous features of nickel tube are high strength, high temperature & heat resistance, low rate of thermal expansion, high tolerance, smooth surface, and uniform mechanical properties and others. Increasing usage of nickel tube in various application such as power generation, medical technology, and others is some of the major factors which affect the growth of the market in future
The market study is being classified by Type (Pure Nickel Tube and Alloy Nickel Tube), by Application (Oil and Gas, Chemical and Petrochemical, Power Generation, Medical Technology and Others) and major geographies with country level break-up.
Sandvik AB (Sweden), AK Steel Corporation (United States), China Baowu Steel Group Corp., Ltd. (China), Nippon Steel Nisshin Co Ltd (Japan), Sumitomo Corporation (Japan), Outokumpu Oyj (Finland), Thyssenkrupp AG (Germany), Macsteel, Inc. (United States), KWG Industries (United States) and Jindal Stainless (India) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Aperam S.A. (Luxembourg) and Qingdao Hongtai Metal Co. Ltd. (China).
The market appears to be highly fragmented and with the presence of several companies including Sandvik AB (Sweden), AK Steel Corporation (United States), China Baowu Steel Group Corp., Ltd. (China) and others Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Nickel Tube market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Nickel Tube market by Type, Application and Region.
On the basis of geography, the market of Nickel Tube has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Usage of Nickel Tube in Various Application such as Chemical and Petrochemical, Oil and Gas, among others
- Advantages of Nickel Tube over Other Tube and Growing Demand from the Aerospace & Chemical Industry
Market Trend
- Numerous Companies are taking the Initiative to Promote Nickel Tube. For instance, in March 2017, Neotiss SAS Company has Supplied Welded Tubes in UNS06625 Nickel Alloy Grade for a Critical Heat Exchanger and it is installed in Total La Mède’s refinery (France)
Restraints
- Problem related to Rising Cost of Raw Materials and Availability of Substitutes
Opportunities
- High Growth of the Consumer Electronics & Home Appliances Industry
- Rising Demand from Emerging Economics such as China, India, Brazil, and others
Challenges
- Problem related to Some High Prices of Products
In October 2016, the Sandvik AB (Sweden) company has launched five new nickel alloy welding consumables. Hence, it will benefit the increased product portfolio of the company in the future.
Key Target Audience
Manufacturers of Nickel Tube, Suppliers of Nickel Tube, Wholesalers, Distributors, and Retailers of Nickel Tube, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others