Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Superalloys are complex, high performance alloys, which have a high tolerance of oxidizing environments and high temperature. These superalloys are typically classified in various types like nickel, cobalt, or iron, and they contain multiple alloying elements including the refractory metals (Nb, Mo, W, Ta), chromium, and titanium. These metals have excellent heat-resistant properties and retain their rigidity, strength, strength and dimensional stability at temperatures much higher than other aerospace structural materials. Moreover, superalloys have excellent resistance against corrosion and oxidation when used at high temperatures in jet engines. The most widely used type is nickel-based material that contains a high concentration of chromium, iron, titanium, cobalt and other alloying elements. This factor has led to emerging use of these alloys in gas turbines and oil & gas equipment. Beside lucrative opportunities is propelling the growth of superalloys market
The driving factor for the growth of global superalloys market is increasing application of superalloys in aircraft and automotive sector as it can operate at higher temperatures to produce greater thrust. the various application of superalloys in aircraft and automotive sector includes in automotive turbochargers, oil and gas exploration and for production at depth and in environments too severe for steels and other metals and also in hot spots on aircraft where strength is required, space shuttle components, jet engines to power commercial and military aircraft. Besides increasing demand for specialty materials in energy, defense, and marine is propelling the demand for the superalloys market.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the superalloys market. In addition, complete analysis of changes on the superalloys market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the superalloys market was moderate due to due to decreasing in production and supply of superalloys market which has ultimately hamper the market growth.
The superalloys market is segmented based on by product type, by application and geography.
The superalloys are available in different product types including cobalt based, iron based, and nickel based
Cobalt based is further sub segmented to co-al-w-based, nickel based further includes ni-cr-fe-based, ni-mo-fe based, ni-cr-mo-fe-based. Nickel based superalloys is expected to lead attributing certain beneficial properties like exceptional strength, high heat resistance, corrosion resistance, machinability. The nickel based superalloys are mostly used for engine parts, combustion chambers, steam turbines. However, cobalt-based superalloys is anticipated to witness the highest growth due to higher superior thermal fatigue resistance and weld ability over nickel based superalloys. Moreover Cobalt superalloys have higher melting points than nickel alloys. This gives them the ability to absorb stress to a higher absolute temperature. In addition, cobalt alloys give superior hot corrosion resistance to gas turbine atmospheres, this is due to their high chromium content.
The superalloys has its major application in aerospace & defense, energy, industrial gas turbine, automotive, oil & gas
Aerospace & defense is further bifurcated to business, commercial & cargo, military, rotary, industrial gas turbine further includes electrical, mechanical. Aerospace dominated the superalloys market due to its use for combustor and turbine sections of the aero engine as the operating conditions, particularly the temperature and corrosive environment, are the most extreme in these location. The several application of superalloys in turbine blades, turbine discs, aero-engines, and aero landing gear, jet engines is emerging the demand for superalloys market. Besides automotive is expected to witness the fastest growth as superalloys reduces the weight of the automobiles and further augment engine performance, which in turns increases fuel efficiency of the vehicle leading to reduced CO2 emissions.
Geographically the global superalloys market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
North America is expected to lead in the global superalloys market due to increasing utilization of aircraft and expansion of the aerospace industry. Besides presence of major key players in the region is further fueling the growth of superalloys market. In addition rising investments from the government is boosting the regional growth. Moreover, Europe is expected to have significant growth during forecast period. Whereas Asia Pacific is expected to witness the growth at highest pace attributing to rapid growth of the automotive industry and expansion of the aerospace and defense sector in countries such as India, China, and Japan which has greater demand for superalloys.
The key players in superalloys market are Allegheny Technologies Incorporate, AMG Advanced Metallurgical Group , Aperam , Arconic, Inc., Beijing International Aeronautical Materials Corporation, Cannon Muskegon, Carpenter Technology Corporation, Chromalloy Gas Turbine LLC, 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), Special Metals Corporation, Supreme Engineering Ltd , Thyssenkrupp Aerospace Germany GmbH , Treibacher Industrie AG,VDM Metals and Western Australian Specialty Alloys among others.
July 2020: Additive manufacturing (AM) technologies had introduced new nickel superalloy ABD-900AM designed for crack-free metal 3d printing which can be useful for direct manufacturing of complex parts with costs and lead times much shorter than conventional manufacturing. As superalloys have been garnering interest across various industrial sectors in recent years, from automotive to aerospace, power, and gas turbines.
September 2019: Markforged had released inconel 625 superalloy for 3d printing. the new material is resistant to corrosion and high temperatures, and is used for applications that are exposed to harsh environments seen in the chemical processing, offshore and aerospace industries. 3d printing inconel 625 helps in reducing lead times and part costs
The report analyses the global superalloys market based on by product type, by application and geography. The superalloys are available in different product types including cobalt based, iron based, and nickel based. The superalloys has its major application in aerospace & defense, energy, industrial gas turbine, automotive, oil & gas. Geographically the global superalloys market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
The key players in superalloys market are Allegheny Technologies Incorporate, AMG Advanced Metallurgical Group , Aperam , Arconic, Inc., Beijing International Aeronautical Materials Corporation, Cannon Muskegon, Carpenter Technology Corporation, Chromalloy Gas Turbine LLC, 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), Special Metals Corporation, Supreme Engineering Ltd , Thyssenkrupp Aerospace Germany GmbH , Treibacher Industrie AG,VDM Metals and Western Australian Specialty Alloys among others.
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