Nickel Alloys Market Size, Share, Trends, Outlook, Growth Opportunities and Market Forecast 2023 - 2030

Global Nickel Alloys Market is segmented By Application ( Electroplating applications, Non-ferrous alloys and superalloys, Stainless and alloy steels, and Others), By End User (Chemical industry, Construction industry, Electrical and electronic equipment, Household appliances, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023 - 2030

Nickel Alloys Market Overview

Report on Global Nickel Alloys analyses the market size, shares, recent trends, competitive intelligence, and future market outlook. Nickel Alloys usage in making electroplating and steels is on the rise. Demand from Chemical, Construction industry, Appliances in Asia Pacific is spiking. Competitive rivalry intensifies with Eramet SA, Minara Resources, PT Antam and others operating in the market.

In 2018, it is estimated that nickel consumption would be approx. 2.2 million metric tons as Nickel has a major metal that is used in making nonferrous alloys, steels, and electroplating.

Nickel Alloys Market Scope and Summary

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Nickel Alloys Market Drivers and Restraints

• The market is driven by several factors such as increasing demand from the oil & gas, aerospace & defense industries, and higher corrosion resistance properties.
• However, the increasing cost of raw materials used in the production of nickel alloys is retraining the growth of the market.
• The high-performance nickel alloy segment by function is dominating the nickel alloy market. This is due to the increasing demand from end-user industries such as oil & gas, chemical, and aerospace.
• Nickel being a versatile metal is corrosion-resistant, has high-temperature resistance, and is an alloy with other metals.
• All these properties of Nickel are making it the pick of the metals. Among these alloys, Aluminium High-Performance alloys are getting popular due to their resistance to high temperatures.

Nickel Alloys Market Segmentation Analysis

• The market is segmented into different categories based on the following criteria.

Based on Function

• Corrosion Resistant
• Electronic alloys
• Heat resistant Alloys
• High-performance alloys
• Others

Based on Application

• Aerospace & Defence (Aircraft engines, Defence equipment)
• Automotive ( Exhaust valves, turbocharger, other parts, and components )
• Chemical (Chemical Reactors, Heat Exchangers, Pressure Vessels, Others)
• Energy & Power (Nuclear Power Plant Components, Power Plants Components),
• Electrical & Electronics (Precision Measurement Instruments, Electrical & Electronic Devices, and Components),
• Oil & Gas(Pipeline, Separators, Scrubbers, Pumps, Others),
• Others

Based on Geography

• North America
• South America
• Europe
• Asia- Pacific
• RoW

The graph shows a forecast of the volume of nickel consumption globally from 2015 to 2020. By 2020, it is predicted that nickel consumption will reach nearly 2.4 million metric tons worldwide. Nickel is most commonly used for making steels, nonferrous alloys, and electroplating. It is also common in both industrial and commercial products.

Global Nickel Alloys Market Geographical Share

• Globally, Asia-Pacific is the largest growing market for nickel alloys with more expected growth in the forecasting period (2018-2023).
• This is due to increasing demand for good quality products for construction, and growing applications in end-user industries in the Asia Pacific region.
• Companies are coming up with innovations in nickel alloys leading the growth of the market in this region.

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