Global Superalloys Market growing at a CAGR of 8.7% from 2023 to 2030
Category : Machinery and Equipment | Published Date : Jun 2023 | Type : Press Release
Key Market Overview
The global superalloys market was valued at USD 6,351.87 million in 2022 and is expected to register a compound annual growth rate of 8.7% to reach USD 12,085.48 million in 2030.
The report highlights the increasing demand for superalloys in manufacturing a wide variety of automotive parts, aerospace components, and industrial power devices. Consegic Business Intelligence provides an inclusive research report on the superalloys market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Superalloys Market By Overview
The report analyses significant segments such as material, application, and region, to identify emerging trends and potential opportunities. The material segment is expected to grow due to the exceptionally high mechanical strength, corrosion resistance, and thermal stability of nickel-based superalloys. Moreover, the application of cobalt-based superalloys in rocket motors, nuclear reactors, and power plants due to its high sulfidation resistance properties is propelling the growth of the market.
Get Free SampleMarket Dynamics
Driver:
- The rising demand for superalloys in aerospace & defense industry for the manufacturing of aircraft engines, gas turbines, and other critical components is driving the growth of the market.
- The application of superalloys in gas turbine power plants for power generation is propelling the growth of the market.
- The increasing demand for superalloys for the production automotive parts is accelerating the growth of the market.
Restraints:
- The high cost of superalloys is hindering the growth of superalloys market.
Market Segmentation:
| Report Attributes | Report Details |
| By Material | Nickel-based, Iron-Based, Cobalt-Based |
| By Application | Automotive, Aerospace & Defense, Oil & Gas, and Industrial |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global superalloys market is highly competitive due to the presence of major players such as Aubert & Duva, Precision Castparts Corp, VSMPO-AVISMA, Advanced Metallurgical Group, SuperAlloy Industrial Company, Doncasters, Haynes International operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in superalloys market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Aubert & Duva
- VSMPO-AVISMA
- Advanced Metallurgical Group
- SuperAlloy Industrial Company
- Doncasters
- Haynes International
- Special Metals Corporation
- Precision Castparts Corp.
- Aperam
- Carpenter Technology
- AMG Superalloys
