The global aerospace superalloys market is expected to reach


Newark, NJ, October 22, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global aerospace superalloys market is expected to grow from $ 1.90 billion in 2020 to $ 3.51 billion by 2028, at a CAGR of 8% during the forecast period 2021-2028.

The aerospace superalloys market has experienced significant growth in recent years. The increase in aircraft manufacturing will improve market penetration, increase the volume of air passengers and the need to replace obsolete aircraft assets. Radical developments in sophisticated aviation and exceptional component configurations that extend the life cycle of the system by reducing structural failure capabilities will create an opportunity for product demand in the market. The aerospace superalloys market will be driven by a positive outlook for aerospace and military production, as well as increased competence of global manufacturers that will improve aircraft efficiency and productivity. Fluctuating raw material costs, along with an extended period of low fuel costs, may push aircraft operators to adopt less expensive alternatives to high fuel consumption aircraft, limiting market development in the near future. .

Nickel base, iron nickel base and cobalt base superalloys are used in aerospace superalloys. A large number of superalloys are used in aircraft engines. Superalloys include high performance alloys produced using two-phase heat treatment, which can be obtained by vacuum induction melting, lost wax casting, powder metallurgy and secondary melting such as reflow. vacuum arc / reflow of electrolytic slag. These alloys have several essential properties, including exceptional mechanical strength and creep resistance at high temperatures, improved surface consistency, and resistance to corrosion and oxidation, making them ideal for aerospace and energy industrial operations. .

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During the forecast period, the increasing use of superalloys in aviation and automotive industry is expected to be one of the major drivers of the global market. Due to their high operational efficiency and low emissions to the environment, superalloys are gaining popularity. The increasing use of lightweight components in the automotive industry is expected to lead to an increasing demand for superalloys around the world. Moreover, superalloys have good cryogenic temperature characteristics, corrosion resistance, oxidation resistance, high toughness and ductility, which are likely to drive the growth of the global superalloys market during the period. forecast. One of the key factors expected to hamper the growth of the superalloy market is the high cost of alloy metals. In addition, specialized equipment is required to make superalloys, and the high cost of such machines is likely to restrict the growth of the market. In addition, the shortage of qualified personnel, along with the complicated procedures required to maintain this specialized equipment, are expected to hamper the constructive growth of the global superalloys market during the forecast period.

Some of the notable players in the market are Allegheny Technologies Incorporate (ATI), Arconic, Inc., Beijing International Aeronautical Materials Corporation (BIAM), Cannon Muskegon, Carpenter Technology Corporation, Chromalloy Gas Turbine LLC (Chromalloy), Doncasters Group, Forged Solutions Group ( Firth Rixson), Haynes International, Inc., Hitchiner Manufacturing Co., Inc., Howmet Aerospace, Inc., IHI Corporation (IMM), Mishra Dhatu Nigam Limited (MIDHANI), Treibacher Industrie AG and Western Australian Specialty Alloys (WAS A) .

The notch-based superalloys segment dominated the market and held the largest 50% market share in 2020.

On the basis of material, the global aerospace superalloy market is segmented into nickel base superalloy, cobalt base superalloy, and iron base superalloy. The nickel-based superalloys segment dominated the market and held the largest market share of 50% in 2020, due to their widespread use in the manufacture of engine components and accessories for aircraft and aerospace equipment. Nickel-based superalloys have remarkable strength and resilience to high temperatures and corrosion, making them ideal for high-speed, high-friction heat-generating applications. Strong expansion in the aerospace and military sectors, as well as increased manufacturing of commercial and cargo aircraft, will drive the need for nickel-based superalloys.

The business aircraft dominated the market and held the largest market share of over 20% in 2020

On the basis of applications, the global aerospace superalloys market is segmented into business aircraft, commercial aircraft, regional aircraft, general aviation, military aircraft, helicopters. Business jets dominated the market and held the largest 20% market share in 2020. Industry demand is expected to be driven by increasing globalization and intercontinental business activity. The increase in business operations and the global development of large companies require the movement of personnel to many locations around the world, which has a positive impact on the market share.

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Regional segment of aerospace superalloys

  • North America (United States, Canada, Mexico)
  • Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
  • Asia-Pacific (China, Japan, India, rest of APAC)
  • South America (Brazil and rest of South America)
  • Middle East and Africa (UAE, South Africa, rest of MEA)

On the basis of geography, the global Aerospace Superalloys market is classified into North America, Europe, Asia-Pacific, Middle East & Africa and South America. Asia-Pacific held the largest aerospace superalloys market share of 40.06% in 2020. Demand from Japan and China drove the Asia-Pacific region. The shift in global aerospace production to emerging economies such as China, India, South Korea and Southeast Asia would increase demand for aerospace superalloys in the region. India’s rapidly growing military equipment business will help the aerospace superalloys market to grow even faster.

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About the report:

Global Aerospace Superalloys Market is analyzed on the basis of its value (billion USD). All segments were analyzed on a global, regional and national basis. The study includes analysis of over 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges to get the key insights of the market. The study includes the model of the five forces of the wearer, the analysis of attractiveness, the analysis of raw materials and the analysis of the position grid of the competitors.

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Fior Markets is a futuristic market intelligence company, helping clients develop their business strategies and make better decisions using actionable insights. With a transparent information pool, we achieve client goals, high level engagements and targeting possible perspectives for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market research reports, especially in industries such as technology, pharmaceuticals, consumer goods, food & beverage, chemicals, media, materials and many more. Our strategic intelligence capabilities are purposefully planned to drive the expansion of your business and elucidate the strength of a diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective fields. The global market research reports we provide involve qualitative and quantitative analysis of the current market scenario according to the separate geographic regions and complete performance in different regions with a holistic approach. Plus, our syndicated research reports offer a comprehensive guide to keeping businesses up to date with the major overhaul coming in their fields. Fior Markets facilitates clients with personalized research analyzes based on their exact requirements, specifications and challenges, whether it is full desk research, investigative work, composition of multiple methods, detailed interviews or competitive intelligence. Our research experts are experienced in matching the exact people and methodology to your business needs.

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