Market Overview:

The Nickel Base Alloy Market size is estimated to reach $5.6 billion by 2030, growing at a CAGR of 2.6% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Nickel Base Alloy Market – By Type (Wrought Nickel, Nickel-Iron, Nickel-Copper, Nickel-Chromium, Nickel-Molybdenum, Nickel-Titanium, and Others), By Application (Corrosion Resistant, Heat Resistant, Low-Expansion, Electrical Resistance, Soft Magnetic, and Others), By End-Use Industry (Aerospace & Defense (Commercial, Military, and Others), Electrical & Electronics (Batteries, Computers, Smart Phones, and Others), Chemical, Oil & Gas (Pipelines, Splash Zone Sheathing, FPSO Vessels, and Others), Energy & Power (Wind Energy, Nuclear Energy, Solar Energy, Power Plants, and Others), Automotive (Passenger Vehicles, and Commercial Vehicles), Healthcare (Dentistry, Medical Devices, Surgical Tools, and Others), and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Increasing adoption in high-performance electronics and growing investments in industrial infrastructure are fueling the growth of the Nickel Base Alloy industry during the forecast period.

North America Dominated the Market in 2023:

North America dominated the nickel base alloy market in 2023, capturing a 39% share due to rising aircraft demand. In 2022, U.S. aerospace exports to Germany totaled $12.26 billion, with an $8.3 billion trade surplus, per the International Trade Administration. Boeing forecasts North America will require 8,995 new aircraft deliveries by 2039. Nickel base alloys are critical for turbine blades, discs, and jet engine components, ensuring superior performance in aerospace applications. The region’s growing aerospace sector, coupled with strong manufacturing capabilities, is projected to drive increased nickel base alloy adoption, fueling market expansion throughout the forecast period. 

Nickel Base Alloy Market: Key Takeaways

Expanding Consumer Electronics Sector:

Nickel base shape memory alloys play a vital role in consumer electronics due to their strength, corrosion resistance, and controlled thermal expansion. These properties make them ideal for electronic devices requiring high durability and performance at extreme temperatures. U.S. electronic exports rose by $7.9 billion in 2023, reaching $498 billion, per the U.S. International Trade Commission. India’s consumer electronics market is projected to be the world’s fifth-largest by 2025, with a digital economy valued between $800 billion and $1 trillion. Since electronic components rely on nickel base alloys, the expanding electronics industry is expected to drive significant market growth during the forecast period

For More Queries About "Nickel Base Alloy Market " @ https://www.industryarc.com/Research/Nickel-Base-Alloy-Market-Research-501585

Growth in the Oil & Gas Industry:

The oil & gas sector relies on nickel base superalloys and corrosion-resistant alloys for critical applications, including process piping, flowlines, and separators. These alloys ensure durability in corrosive environments, supporting efficiency in oil extraction and refining. Despite supply chain disruptions, global stainless steel production is projected to rebound to 60 million metric tons in 2023. China, consuming over half of primary nickel, saw stainless steel output reach 30.6 million metric tons in 2022, while India’s production grew 25% from 2022-2025. As oil & gas projects expand, including Indonesia’s BP-operated LNG facility, rising demand for corrosion-resistant alloys will propel nickel base alloy market growth. 

Scope of the Report: 

Report Metric

Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

2.6%

Market Size in 2030

$5.6 billion

Segments Covered

By Type, By Application, By End-Use Industry, and By Region

 

 

Geographies Covered

North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa).

 

 

 

 

Key Market Players

1.  HAYNES INTERNATIONAL

2.  Alloys International, Inc.

3.  Sandvik AB

4.  ATI

5.  VDM Metals

6.  Berkshire Hathaway Inc.

7.  Kennametal Inc.

8.  SANYO SPECIAL STEEL Co., Ltd.

9.  Thyssenkrupp Materials NA, Inc.

10.  Voestalpine Specialty Metals

 

Recent Developments:

•    In November 2024, EOS announced the addition of two nickel-based superalloy powders, EOS NickelAlloy IN738 and EOS NickelAlloy K500, for its PBF-LB additive manufacturing machines. IN738 offers high strength and heat resistance, while K500 combines strength and thermal conductivity, making both materials ideal for extreme industrial and aerospace applications.

Nickel Base Alloy Market: Competitive Landscape

Key companies profiled in the Nickel Base Alloy Market are HAYNES INTERNATIONAL, Alloys International, Inc., Sandvik AB, ATI, VDM Metals, Berkshire Hathaway Inc., Kennametal Inc., SANYO SPECIAL STEEL Co., Ltd., Thyssenkrupp Materials NA, Inc., Voestalpine Specialty Metalsand others.

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
 
Contact Us:

Mr. Venkat Reddy
IndustryARC
Email: [email protected]
USA: (+1) 518-282-4727
Web: https://www.industryarc.com
Follow us on LinkedIn | Facebook | Twitter