About Superalloys
A superalloy also known as the high-performance alloy is an alloy with the capability to operate at a high fraction of its melting point. There are numerous characteristics of a superalloy such as excellent mechanical strength, resistance to thermal creep deformation, good surface stability, and resistance to oxidation or corrosion. Superalloys are successful nowadays as they have solved pressing demands for durability and strength in machines and systems that were barely imaginable a hundred years ago. Moreover, superalloys have helped humans conquer air and space, plumb the depths of the earth and ocean, and address many other challenges of modern life.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 8.74% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Superalloys market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
llegheny Technologies Incorporate (ATI) (United States), Arconic, Inc. (United States), Beijing International Aeronautical Materials Corporation (BIAM) (China), Carpenter Technology Corporation (United States), Chromalloy Gas Turbine LLC (Chromalloy) (United States), Doncasters Group (United Kingdom), Forged Solutions Group (Firth Rixson) (United Kingdom), Haynes International, Inc. (United States) and Hitchiner Manufacturing Co., Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Howmet Aerospace, Inc. (United States), IHI Corporation (IMM) (Japan), Mishra Dhatu Nigam Limited (MIDHANI) (India), Treibacher Industrie AG (Austria), Cannon Muskegon (United States) and Western Australian Specialty Alloys (WASA). (Australia).
Segmentation Overview
AMA Research has segmented the market of Global Superalloys market by Type (Nickel-Based {Ni-Cr-Fe-based, Ni-Mo-Fe based, Ni-Cr-Mo-Fe-based}, Iron-Based and Cobalt-Based {Co-Al-W-based and Others}), Application (Aerospace, Commercial & Cargo, Business, Military, Rotary, Industrial Gas Turbine {Electrical and Mechanical}, Automotive, Oil & gas, Industrial and Others) and Region.
On the basis of geography, the market of Superalloys 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). If we see Market by Channel, the sub-segment i.e. Direct Sales will boost the Superalloys market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in Nickel Based Superalloy Usage
Market Growth Drivers:
Rise In Utilization of Superalloys in the Aviation and Automotive Industries As It Facilitates Improved Operating Efficiency and Reduced Environmental Emissions and The Upsurging Demand from the Oil & Gas Sector
Challenges:
Intense Competitive Rivalry Within the Market
Opportunities:
Surging Demand from Emerging Economies
Market Leaders and their expansionary development strategies
In June 2019, Carpenter Technology Corporation launched an advanced jet engine gear solution, Pyrowear 225 alloy for critical transmission applications. Pyrowear 225 alloy offers a combination of 30 % higher ultimate strength or 250 degrees F operating temperature improvement. This solution is expected to enable next generation engines to realize further improvements in fuel efficiency, by allowing operation at higher temperatures with reduced weight.
In November 2020, The University of California launched new defect-resistant superalloy for 3D printing that has the ability to withstand thermal treatments in applications including aircraft engines.
Key Target Audience
Superalloys Manufacturers, Superalloys Raw Material Suppliers, Superalloys Traders/Distributors, Regulatory & Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.