Superalloys: Technologies, Applications, and Global Markets
NEW YORK, July 20, 2017 /PRNewswire/ --
• The global superalloy market reached $5.2 billion in 2015. This market is expected to increase from nearly $5.6 billion in 2016 to $7.7 billion in 2021 at a compound annual growth rate (CAGR) of 6.6% for 2016-2021.
Read the full report: http://www.reportlinker.com/p05002442/Superalloys-Technologies-Applications-and-Global-Markets.html
• Transportation applications market is expected to grow from $3.2 billion in 2016 to nearly $4.3 billion in 2021 at a CAGR of 5.7% from 2016 through 2021.
• Industrial and power generation applications market is expected to grow from $2.3 billion in 2016 to nearly $3.4 billion in 2021 at a CAGR of 7.7% from 2016 through 2021.
Introduction
Study Goals and Objectives
This report provides a global overview of the market for superalloys, with breakdowns by region and by major technology. BCC Research's goal in conducting this study was to assess and describe the current status and potential growth of the worldwide use of superalloys, and associated markets.
More specifically, the study includes the following objectives:
• Summarize the current boiler markets and emerging trends that weigh on market valuations and futures.
• Evaluate the existing boiler industry, focusing on boiler manufacturers within primary categories of industrial boilers.
• Assess market potential for enhanced oil production (EOR) technologies over a five-year period from 2016 through 2021.
Reasons for Doing This Study
Several key factors are currently influencing superalloy production and associated markets, across a variety of applications. Continued advancement of the global air travel industry, both for cargo and personal transit, is enabling major airlines to upgrade their fleets to newer, more energy efficient planes sporting modernized, superalloy containing engines.
In the power generation industry, new deployments of gas turbines and repowering of older technologies such as coal with natural gas supports advancement in these markets, both for gas and steam turbines. Global advances in industrial production are also driving the increased use of superalloys in that category, while volatility in the oil and gas industry may be calming down with oil prices that are approaching increased stability. Finally, automotive technologies are continuing to advance, especially surrounding increased fuel efficiency, which is driving the use of superalloys in that category.
The last several years have marked an auspicious time for expansion within global and regional markets for superalloys. However, is the time still opportune into the near- to mid-term (through 2021)?
Moreover, if so, which regional and national markets, and which superalloy categories or applications will show the strongest growth? Further, what strategies should superalloy market participants pursue to take advantage of potential upcoming market advances? This report intends to assist industry executives, sales managers, and strategists to better plan their approach to growth within today's diverse industrial boiler markets.
Intended Audience
This report provides and an in-depth analysis of superalloys and their key applications, relevant markets and production information, technological descriptions and issues, applications and market factors, and market potential. It gives an overview of applicable regulations and standards that bear on leading worldwide markets.
This study will be of interest to current and prospective suppliers of superalloys, those involved in the superalloy supply chain, and manufacturers who rely on superalloys as a critical component of their key products. Other parties for which this report will be beneficial include entrepreneurs and entrepreneurial companies interested in entering or expanding into the superalloy technology sector, materials developers looking to develop new materials, or those who seek to bring emerging materials to the market. This review will also be of interest to corporate planners and strategists, materials research and development strategists, engineering, alloy materials industry groups, and other public- and private-sector interest groups and market analysts.
Scope of Report
The scope of this investigation includes the major superalloy categories that are relevant to an array of mechanical products and equipment. Superalloys provide enhanced durability, excellent thermal management and associated properties, and other key benefits that are critical to the operation of many high-tech mechanical and industrial equipment and facilities.
The specific technology categories considered in this report are shown below, which include all major sectors bearing moderate to large markets for superalloy materials on a global basis. This report focuses explicitly on superalloys and does not consider other alloys such as advanced titanium or steel alloys.
Superalloy categories considered in this report:
• Airplane jet engines: jet engines for commercial cargo and passenger airlines; jet engines for private business airlines; jet engines for military applications; jet engines for rotary (helicopter) applications.
• Power generation: utility gas turbines; industrial gas turbines for power generation; steam turbines; nuclear reactors.
• Industrial applications: gas compressors; chemical processing equipment; waste processing equipment; thermal processing equipment.
• Oil and gas extraction: subsea topsides; drilling and completion; compressor systems.
• Automotive: turbochargers; other engine components.
Biomedical applications are also covered in this report. However, they carry a small market size and therefore market data, with breakdowns by material and region but not by their application within the biomedical category, and are provided in an appendix.
The data, market information, and industry insights presented are intended to provide a holistic overview of all the major markets for superalloys. The market analysis submitted in this report is based on a variety of data sources. These include the most recent corporate, industrial, and government data on superalloy production, sales, imports and exports.
The manufacturing and industrial productivity data is intended to help gauge anticipated future market growth. The results from the data generated by recent and ongoing research and development efforts are aimed at identifying new and developing niches for certain classes of superalloys and their potential for associated growth.
Research and development of new superalloys and associated materials are key drivers of future market growth within the industry. Emerging superalloys that may become commercially viable within the next five years are summarized but are not included in the market assessment of this report. BCC Research analyzes each major viable superalloy, as shown above, determines its current market status, examines its impact on future markets, and presents forecasts of growth over the next five years.
Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in support of this industry. Sales of superalloys into various industrial and manufacturing categories and end uses are considered.
BCC Research analyzes the superalloys industry on a worldwide basis regarding the production and sale of superalloys, as these are incorporated into a variety of products. BCC Research also examines institutional and government support, including research and development (R&D), which ultimately provides support to long-term growth in superalloys markets, as relevant through 2021. BCC Research also discusses recent trends and projections in terms of unit sales, as well as market sales values.
Methodology
This report is based on reviews of each superalloy and its current usage, by region and nation as relevant, and information collected from government, industry, and corporate sources. Additional data were gathered from conversations with industry insiders, government officials, regulators, and other players active in the global superalloys industry.
Data were compiled by the analyst for all national and regional markets considered. Available data were assessed by the analyst for gaps, underreporting, and other signs of inaccurate or missing information. Information gaps or inaccuracies were identified and estimated using applicable and available benchmarking tools, including national or regional level changes in industrial productivity where growth was assumed to correlate with growth in the boilers markets. Alternatively, where available, information on industrial greenhouse gas (GHG) emissions, which are largely due to boiler emissions, or other industrial air quality emissions was used.
BCC Research's research of present and historic market trends was conducted primarily via internet research and phone interviews, relying on available industry and government data and information gathered from telephone and email-based interviews. Internal company data and annual documentation of sales relevant to a particular superalloy technology or sales category were also reviewed in order to prepare market assessments. Based on the results of our surveys and research, BCC Research analyzed the potential applications for each technology, assembled data for 2015 and 2016 sales, and forecast sales through 2021. Additionally, when available, the data provided in this report were compared with other industry data to ensure relevance, applicability and accuracy.
Information Sources
Both primary and secondary research methods were used in preparing this report. BCC's primary and secondary data collection efforts included various authorities, as discussed above, including producers and distributors of superalloys, manufacturers relying on superalloys as a critical component of their product lines, alloy and superalloy industry groups, other industry analysts, and researchers, analysts, and reports from government and nongovernmental organizations. The following table summarizes information sources for each of the major sections of this report.
Research information sources for this report include:
• Review of superalloys including technologies, breakdown categories, technological trends, and products: Secondary information sources include corporate, industry, and government information and data.
• Industry structure and market overviews by superalloy category: Primary information sources include industry interviews.
• Major companies and company profiles: Primary and secondary information sources include industry interviews and internet research.
• Market assessment and projections: Primary and limited secondary information sources include industry interviews, government and industry documents and data sources, and BCC Research calculations.
Geographic Breakdown
In this report, the geographic regions considered for market analysis include, and only include:
North America
• United States
• Canada
Europe
• France
• Germany
• Italy
• Russia
• Rest of Europe
Asia
• China
• India
• Japan
• Rest of Asia
Summary and Highlights
Superalloys form the backbone of contemporary air transit and thermal power generation industries – industries that are evolving rapidly to meet new and increased demands while deploying new and advanced technologies that are enhancing fuel and energy efficiency while curbing airborne emissions. However, superalloy deployments are not limited to these two areas.
These exceptionally strong, highly heat- and corrosion-resistant metal alloys are also finding application in other industries where they are bringing significant benefit. Superalloy technologies have, for example, enabled the proliferation of turbochargers in the global automotive industry, helping to advance automobile and commercial vehicle fuel efficiency and performance significantly.
Turbomachinery applied to oil and gas segments contributes to enhanced oil recovery (EOR) through efficient gas compression, while superalloy based drills allow drilling operators to tap petroleum resources buried beneath deep, hot, and resistant geologic formations. Finally, superalloys applied to industry specific processes are supporting new advances in chemicals production, more effective and efficient petroleum refining and petrochemical production, and conventional and advanced thermal processing.
Superalloys touch multiple market categories, each of which varies based on industry-specific factors, ranging from energy efficiency to consumer preference. As such, identifying factors relevant to the market as a whole, or to a particular desired application or outcome, can be confounding. To address this critical issue, BCC Research has assembled a comprehensive overview of current and near-term future superalloy markets. Our analysis provides both a high-level overview of the market, important to investors and others looking to understand overall superalloy market dynamics and trends, along with a bottom-up look across five specific superalloy markets.
These are broken down by industry as follows:
• Aircraft jet engines — breakdowns for commercial cargo and passenger,
• Private business.
• Military — rotary and helicopter segments.
• Power generation — utility gas turbines, industrial gas turbines, steam turbines, nuclear reactors.
• Industrial processes — compression, chemical processing, waste processing, thermal processing.
• Oil and gas — subsea topsides, drilling and completion, compressor systems.
• Automotive — turbochargers, other engine equipment.
BCC Research's analysis of the global market for superalloys anticipates solid growth in all the defined regions and market segments. As shown in the table and figure below, global sales during 2015 to 2016 increased from $5.2 billion to nearly $5.6 billion. Near-term and mid-term future growth will drive markets to almost $7.7 billion by 2021, for a compound annual growth rate (CAGR) of 6.6%, globally.
Transportation applications for superalloys will be characterized by reliable growth, with markets in these segments collectively advancing from $3.2 billion in 2016 to $4.3 billion in 2021, at a CAGR of 5.7%. Meanwhile, growth in industrial and power generation applications, including the oil and gas segment, will advance from $2.3 billion in 2016 to $3.4 billion in 2021, exhibiting solid market development at 7.7%. BCC Research's full report provides additional market breakdowns according to the categories and sub-segments listed above, along with additional breakdowns by superalloy type (i.e., nickel-based, cobalt-based and iron-based).
Market analyses are also provided by region for North America, Europe, and Asia. Additional national level data for select major markets within these regions, including the U.S., Canada, Germany, France, Italy, Great Britain, the Rest of Europe, China, South Korea, Japan, and the Rest of Asia are also included.
BCC Research's analysis of the global superalloys market is supported by a comprehensive review of available industry and government data, combined with personal interviews and frank discussions with industry insiders and leaders in the industrial boiler industry. BCC Research's global superalloys assessment combines corporate data, industry reportings, trade data, and government information, along with the main benchmarks, in a well-supported and accurate evaluation of superalloy markets.
The result is a robust series of regional projections based on reliable data, industry and government trends, and expert opinion.
Read the full report: http://www.reportlinker.com/p05002442/Superalloys-Technologies-Applications-and-Global-Markets.html
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