PUBLISHER: Persistence Market Research | PRODUCT CODE: 1442639
PUBLISHER: Persistence Market Research | PRODUCT CODE: 1442639
Nickel Alloy Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2030
Persistence Market Research offers a comprehensive analysis of the global nickel alloy market, highlighting key dynamics, growth drivers, challenges, and emerging trends. This report provides valuable insights into the structure of the nickel alloy market, presenting exclusive data and statistics that forecast its growth trajectory from 2023 to 2030.
The global nickel alloy market is forecasted to expand at a CAGR of 5.6% and thereby increase from a value of US$10.1 Bn in 2023, to US$14.8 Bn by the end of 2030.
- Key Insights:
Nickel Alloy Market Size (2023E): USD 10.1 Billion
Projected Market Value (2030F): USD 14.8 Billion
Global Market Growth Rate (CAGR 2023 to 2030): 5.6%
Historical Market Growth Rate (CAGR 2028 to 2022): 4.7%
Nickel Alloy Market - Report Scope:
Nickel alloys are highly prized for their outstanding resistance to corrosion, high-temperature strength, and versatility across various industrial applications. Composed of nickel combined with elements like chromium, iron, and molybdenum, these alloys exhibit exceptional mechanical and thermodynamic properties. Essential in industries such as aerospace, energy, and chemical processing, nickel alloys play a vital role in technological advancement and infrastructure development.
The global nickel alloy market is driven by several factors, including the increasing demand for corrosion-resistant materials in harsh environments, particularly in the chemical processing and oil & gas sectors. Additionally, the aerospace industry relies heavily on nickel alloys for components with superior strength-to-weight ratios, fueled by the growth in air travel and technological advancements. Moreover, the renewable energy sector, encompassing wind and solar power, depends on nickel alloys for their exceptional resistance to severe weather conditions. Continuous research and development efforts aimed at enhancing nickel alloy properties further contribute to the market's perpetual growth and significance.
- Market Growth Drivers:
The rapid growth of the aerospace sector is driving unprecedented expansion in the global nickel alloy market. With rising air travel demand due to urbanization and increasing disposable income, the aerospace industry is striving to enhance performance and efficiency. Nickel alloys, known for their strength-to-weight ratio, corrosion resistance, and stability at high temperatures, are crucial for producing key components in modern aircraft, including engine parts and structural elements. This focus on lightweight and durable materials contributes to improved fuel efficiency and reduced environmental impact, aligning with the aerospace industry's sustainability goals. Moreover, advancements in airframe design necessitate materials with enhanced functionalities, further driving demand for nickel alloys.
- Market Restraints:
One significant challenge facing the global nickel alloy market is the volatility of primary material costs, particularly nickel. Influenced by macroeconomic trends, geopolitical events, and supply-and-demand dynamics, nickel prices fluctuate, impacting production expenses and the competitiveness of nickel alloys. Manufacturers encounter obstacles in managing operational costs and preserving profit margins due to fluctuating nickel prices. Geopolitical instability further complicates the market, disrupting the nickel supply chain and causing supply chain disruptions, increased production expenses, and unpredictability for industry participants. Trade disputes, export limitations, and political sanctions targeting key nickel-producing regions directly influence the cost structure of nickel alloy producers, posing risks to market stability.
- Market Opportunities:
The rapid growth of global electric vehicle (EV) adoption presents a significant opportunity for the robust expansion of the Nickel Alloy Market. As the automotive sector transitions towards electric and environmentally friendly transportation, nickel alloys play a pivotal role in battery production, particularly in cathodes. With consumers, governments, and industries prioritizing environmental sustainability and reducing reliance on internal combustion engines, there is an increasing demand for electric vehicles. Nickel-rich cathodes, such as nickel-manganese-cobalt (NMC) and nickel-cobalt-aluminum (NCA), enhance the energy density and performance of EV batteries. Given their essential role, nickel alloys are poised to benefit from the substantial growth of the electric vehicle industry, especially with ongoing advancements in battery technology driving further demand for these alloys.
Key Questions Answered in the Report:
- Which regions are poised to lead the growth of the nickel alloy market?
- What factors influence the adoption of nickel alloys across different industries?
- How are technological advancements reshaping the competitive landscape of the nickel alloy market?
- Who are the key players driving innovation and market expansion in the nickel alloy segment?
- What are the emerging trends and future prospects in the global nickel alloy market?
Competitive Intelligence and Business Strategy:
To maintain market leadership, global leaders in the nickel alloy industry focus on innovation, strategic investments, and market expansion. Precision Castparts Corp., for instance, invests heavily in R&D to develop innovative solutions for aerospace and energy sectors. Similarly, Thyssenkrupp AG expands its market presence through acquisitions and collaborations, ensuring resilience in the face of economic fluctuations. In summary, these leaders achieve and sustain their market share through a strategic blend of innovation, market penetration, and geographic diversification.
- Key Companies Profiled:
PJSC Mining & Metallurgical Co Norilsk Nickel
- Haynes International
- Nippon Steels
- Aperam SA
CARPENTER TECHNOLOGY CORPORATION
- Thyssenkrupp AG
- VDM Metals
- ATI Specialty Materials
- Precision Castparts Corp
Allegheny Technologies Incorporated (ATI)
Nickel Alloy Market Research Segmentation:
The nickel alloy market encompasses a diverse range of products tailored to specific applications, industries, and end-user requirements. Market segmentation includes variations in alloy composition, form, and application
- By Composition:
- Ni-Cu
- Ni-Cr-Fe
- Ni-Cr-Mo
- Ni-Mo
- Misc. (Ni-Si, etc,)
- By End-use Industry:
- Aerospace & Defense
- Chemical
- Automotive
- Oil & Gas
- Power Generation
- Electrical & Electronics
- Misc.
- By Region:
- North America
- Europe
- East Asia
- South Asia & Oceania
- Latin America
- Middle East & Africa
Table of Contents
1. Executive Summary
- 1.1. Global Nickel Alloy Market Snapshot, 2023 and 2030
- 1.2. Market Opportunity Assessment, 2023 - 2030, US$ Mn
- 1.3. Key Market Trends
- 1.4. Future Market Projections
- 1.5. Premium Market Insights
- 1.6. Industry Developments and Key Market Events
- 1.7. PMR Analysis and Recommendations
2. Market Overview
- 2.1. Market Scope and Definition
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
- 2.3. Composition Lifecycle Analysis
- 2.4. Global Nickel Alloy Market: Value Chain
- 2.4.1. List of Raw Composition Supplier
- 2.4.2. List of Manufacturers
- 2.4.3. List of Distributors
- 2.4.4. List of Applications
- 2.4.5. Profitability Analysis
- 2.5. Porter Five Force's Analysis
- 2.6. Geopolitical Tensions: Market Impact
- 2.7. Macro-Economic Factors
- 2.7.1. Global Sectorial Outlook
- 2.7.2. Global GDP Growth Outlook
- 2.7.3. Global Parent Market Overview
- 2.8. Forecast Factors - Relevance and Impact
- 2.9. Regulatory and Technology Landscape
3. Global Nickel Alloy Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)
- 3.1. Key Highlights
- 3.1.1. Market Volume (Units) Projections
- 3.1.2. Market Size and Y-o-Y Growth
- 3.1.3. Absolute $ Opportunity
- 3.2. Market Size (US$ Mn) Analysis and Forecast
- 3.2.1. Historical Market Size Analysis, 2013-2016
- 3.2.2. Current Market Size Forecast, 2018-2026
- 3.3. Global Nickel Alloy Market Outlook: Composition
- 3.3.1. Introduction / Key Findings
- 3.3.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Composition, 2018 - 2022
- 3.3.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Composition, 2023 - 2030
- 3.3.3.1. Ni-Cu
- 3.3.3.2. Ni-Cr-Fe
- 3.3.3.3. Ni-Cr-Mo
- 3.3.3.4. Ni-Mo
- 3.3.3.5. Misc. (Ni-Si, etc,)
- 3.4. Market Attractiveness Analysis: Composition
- 3.5. Global Nickel Alloy Market Outlook: End-use Industry
- 3.5.1. Introduction / Key Findings
- 3.5.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By End-use Industry, 2018 - 2022
- 3.5.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 3.5.3.1. Aerospace & Defense
- 3.5.3.2. Chemical
- 3.5.3.3. Automotive
- 3.5.3.4. Oil & Gas
- 3.5.3.5. Power Generation
- 3.5.3.6. Electrical & Electronics
- 3.5.3.7. Misc.
- 3.6. Market Attractiveness Analysis: End-use Industry
4. Global Nickel Alloy Market Outlook: Region
- 4.1. Key Highlights
- 4.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Region, 2018 - 2022
- 4.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Region, 2023 - 2030
- 4.3.1. North America
- 4.3.2. Europe
- 4.3.3. East Asia
- 4.3.4. South Asia and Oceania
- 4.3.5. Latin America
- 4.3.6. Middle East & Africa (MEA)
- 4.4. Market Attractiveness Analysis: Region
5. North America Global Nickel Alloy Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)
- 5.1. Key Highlights
- 5.2. Pricing Analysis
- 5.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 5.3.1. By Country
- 5.3.2. By Composition
- 5.3.3. By End-use Industry
- 5.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 5.4.1. U.S.
- 5.4.2. Canada
- 5.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Composition, 2023 - 2030
- 5.5.1. Ni-Cu
- 5.5.2. Ni-Cr-Fe
- 5.5.3. Ni-Cr-Mo
- 5.5.4. Ni-Mo
- 5.5.5. Misc. (Ni-Si, etc,)
- 5.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 5.6.1. Aerospace & Defense
- 5.6.2. Chemical
- 5.6.3. Automotive
- 5.6.4. Oil & Gas
- 5.6.5. Power Generation
- 5.6.6. Electrical & Electronics
- 5.6.7. Misc.
- 5.7. Market Attractiveness Analysis
6. Europe Global Nickel Alloy Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)
- 6.1. Key Highlights
- 6.2. Pricing Analysis
- 6.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 6.3.1. By Country
- 6.3.2. By Composition
- 6.3.3. By End-use Industry
- 6.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 6.4.1. Germany
- 6.4.2. France
- 6.4.3. U.K.
- 6.4.4. Italy
- 6.4.5. Spain
- 6.4.6. Russia
- 6.4.7. Turkiye
- 6.4.8. Rest of Europe
- 6.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Composition, 2023 - 2030
- 6.5.1. Ni-Cu
- 6.5.2. Ni-Cr-Fe
- 6.5.3. Ni-Cr-Mo
- 6.5.4. Ni-Mo
- 6.5.5. Misc. (Ni-Si, etc,)
- 6.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 6.6.1. Aerospace & Defense
- 6.6.2. Chemical
- 6.6.3. Automotive
- 6.6.4. Oil & Gas
- 6.6.5. Power Generation
- 6.6.6. Electrical & Electronics
- 6.6.7. Misc.
- 6.7. Market Attractiveness Analysis
7. East Asia Global Nickel Alloy Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)
- 7.1. Key Highlights
- 7.2. Pricing Analysis
- 7.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 7.3.1. By Country
- 7.3.2. By Composition
- 7.3.3. By End-use Industry
- 7.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 7.4.1. China
- 7.4.2. Japan
- 7.4.3. South Korea
- 7.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Composition, 2023 - 2030
- 7.5.1. Ni-Cu
- 7.5.2. Ni-Cr-Fe
- 7.5.3. Ni-Cr-Mo
- 7.5.4. Ni-Mo
- 7.5.5. Misc. (Ni-Si, etc,)
- 7.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 7.6.1. Aerospace & Defense
- 7.6.2. Chemical
- 7.6.3. Automotive
- 7.6.4. Oil & Gas
- 7.6.5. Power Generation
- 7.6.6. Electrical & Electronics
- 7.6.7. Misc.
- 7.7. Market Attractiveness Analysis
8. South Asia & Oceania Global Nickel Alloy Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)
- 8.1. Key Highlights
- 8.2. Pricing Analysis
- 8.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 8.3.1. By Country
- 8.3.2. By Composition
- 8.3.3. By End-use Industry
- 8.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 8.4.1. India
- 8.4.2. Southeast Asia
- 8.4.3. ANZ
- 8.4.4. Rest of South Asia & Oceania
- 8.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Composition, 2023 - 2030
- 8.5.1. Ni-Cu
- 8.5.2. Ni-Cr-Fe
- 8.5.3. Ni-Cr-Mo
- 8.5.4. Ni-Mo
- 8.5.5. Misc. (Ni-Si, etc,)
- 8.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 8.6.1. Aerospace & Defense
- 8.6.2. Chemical
- 8.6.3. Automotive
- 8.6.4. Oil & Gas
- 8.6.5. Power Generation
- 8.6.6. Electrical & Electronics
- 8.6.7. Misc.
- 8.7. Market Attractiveness Analysis
9. Latin America Global Nickel Alloy Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)
- 9.1. Key Highlights
- 9.2. Pricing Analysis
- 9.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 9.3.1. By Country
- 9.3.2. By Composition
- 9.3.3. By End-use Industry
- 9.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
- 9.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Composition, 2023 - 2030
- 9.5.1. Ni-Cu
- 9.5.2. Ni-Cr-Fe
- 9.5.3. Ni-Cr-Mo
- 9.5.4. Ni-Mo
- 9.5.5. Misc. (Ni-Si, etc,)
- 9.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 9.6.1. Aerospace & Defense
- 9.6.2. Chemical
- 9.6.3. Automotive
- 9.6.4. Oil & Gas
- 9.6.5. Power Generation
- 9.6.6. Electrical & Electronics
- 9.6.7. Misc.
- 9.7. Market Attractiveness Analysis
10. Middle East & Africa Global Nickel Alloy Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)
- 10.1. Key Highlights
- 10.2. Pricing Analysis
- 10.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 10.3.1. By Country
- 10.3.2. By Composition
- 10.3.3. By End-use Industry
- 10.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 10.4.1. GCC
- 10.4.2. Egypt
- 10.4.3. South Africa
- 10.4.4. Northern Africa
- 10.4.5. Rest of Middle East & Africa
- 10.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Composition, 2023 - 2030
- 10.5.1. Ni-Cu
- 10.5.2. Ni-Cr-Fe
- 10.5.3. Ni-Cr-Mo
- 10.5.4. Ni-Mo
- 10.5.5. Misc. (Ni-Si, etc,)
- 10.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 10.6.1. Aerospace & Defense
- 10.6.2. Chemical
- 10.6.3. Automotive
- 10.6.4. Oil & Gas
- 10.6.5. Power Generation
- 10.6.6. Electrical & Electronics
- 10.6.7. Misc.
- 10.7. Market Attractiveness Analysis
11. Competition Landscape
- 11.1. Market Share Analysis, 2022
- 11.2. Market Structure
- 11.2.1. Competition Intensity Mapping By Market
- 11.2.2. Competition Analog IC
- 11.2.3. Apparent Product Capacity
- 11.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 11.3.1. PJSC Mining & Metallurgical Co Norilsk Nickel
- 11.3.1.1. Overview
- 11.3.1.2. Segments and Product
- 11.3.1.3. Key Financials
- 11.3.1.4. Market Developments
- 11.3.1.5. Market Strategy
- 11.3.2. Haynes International
- 11.3.2.1. Overview
- 11.3.2.2. Segments and Product
- 11.3.2.3. Key Financials
- 11.3.2.4. Market Developments
- 11.3.2.5. Market Strategy
- 11.3.3. Nippon Steels
- 11.3.3.1. Overview
- 11.3.3.2. Segments and Product
- 11.3.3.3. Key Financials
- 11.3.3.4. Market Developments
- 11.3.3.5. Market Strategy
- 11.3.4. Aperam SA
- 11.3.4.1. Overview
- 11.3.4.2. Segments and Product
- 11.3.4.3. Key Financials
- 11.3.4.4. Market Developments
- 11.3.4.5. Market Strategy
- 11.3.5. CARPENTER TECHNOLOGY CORPORATION
- 11.3.5.1. Overview
- 11.3.5.2. Segments and Product
- 11.3.5.3. Key Financials
- 11.3.5.4. Market Developments
- 11.3.5.5. Market Strategy
- 11.3.6. Thyssenkrupp AG
- 11.3.6.1. Overview
- 11.3.6.2. Segments and Product
- 11.3.6.3. Key Financials
- 11.3.6.4. Market Developments
- 11.3.6.5. Market Strategy
- 11.3.7. VDM Metals
- 11.3.7.1. Overview
- 11.3.7.2. Segments and Product
- 11.3.7.3. Key Financials
- 11.3.7.4. Market Developments
- 11.3.7.5. Market Strategy
- 11.3.8. ATI Specialty Materials
- 11.3.8.1. Overview
- 11.3.8.2. Segments and Product
- 11.3.8.3. Key Financials
- 11.3.8.4. Market Developments
- 11.3.8.5. Market Strategy
- 11.3.9. Precision Castparts Corp
- 11.3.9.1. Overview
- 11.3.9.2. Segments and Product
- 11.3.9.3. Key Financials
- 11.3.9.4. Market Developments
- 11.3.9.5. Market Strategy
- 11.3.10. Allegheny Technologies Incorporated (ATI)
- 11.3.10.1. Overview
- 11.3.10.2. Segments and Product
- 11.3.10.3. Key Financials
- 11.3.10.4. Market Developments
- 11.3.10.5. Market Strategy
- 11.3.1. PJSC Mining & Metallurgical Co Norilsk Nickel
12. Appendix
- 12.1. Research Methodology
- 12.2. Research Assumptions
- 12.3. Acronyms and Abbreviations
