Superalloys Market to Grow at 9% CAGR With Nickel Alloy Dominating the Market to 2019

PUNE, India, November 19, 2015 /PRNewswire/ --

Global superalloys market growth is being driven by increasing demand in the aerospace, automotive, and industrial component sectors with nickel alloy forecast to dominate the market by segment to 2019.

Complete report on Superalloys Market 2015 - 2019 spread across 81 pages, profiling 4 major companies and supported with 35 data exhibits is now available at is now available at http://www.sandlerresearch.org/superalloys-market-2015-2019.html .

According to the Superalloys Market 2015 - 2019 report, increasing demand for diversified applications is one of the major drivers contributing to the growth of the global superalloy market. Superalloys are used in the aerospace sector due to the need for high strength material and the property to withstand high temperatures. These materials are also resistant to corrosion, sulfidation, and oxidation. Superalloys are widely used in the transportation sector because they have advantageous properties such as light weight, chemical resistance, high strength, corrosion resistance, and are low maintenance. These properties also help in prolonging the life cycle of the equipment made using these materials. Superalloys also provide improved heat, sound, and electrical insulation.

Market Segmentation in this report is done by type covering nickel-based, nickel-iron based, cobalt based. The nickel-based segment accounted for nearly 81% of the market share during 2014 and is expected to maintain its dominance until the end of 2019. Nickel base superalloys are used in the aerospace sector as it is resistant to extremely high temperatures and physical stress, which helps in surface stability.

By application, superalloys market is segmented into aerospace, IGT, industrial application. The aerospace sector dominated the market during 2014 with a market share of 55%. This research report predicts this segment to grow at a CAGR of around 10% during the forecast period. The market is driven by the need for high strength materials that can withstand high temperatures are resistant to corrosion, sulfidation, and oxidation. Superalloys are also lightweight and increase the fuel efficiency of aircraft. Order a copy of Superalloys Market 2015-2019 report @ http://www.sandlerresearch.org/purchase?rname=46454.

Geographically, EMEA accounted for 36% of the market share during 2014 and is predicted to retain its leadership until the end of 2019 with a growth rate of 10%. The increased demand from the automotive and aircraft sector in this region is the key driver for the growth of the market. Germany, France, the UK, Italy, Spain, Sweden are the market leaders in this region contributing to the demand for super alloys.

ATI, Haynes, CM Group, Special Metals are the major companies discussed in this research. Other Prominent Vendors simply mentioned in the report include Aperam, Baosteel Group, Beijing Cisri-Gaona Materials & Technology, Carpenter Technology, Danyang Kaixin Alloy Materials, Daye Special Steel, Fushun Special Steel Shares, NBM Metals, Shenyang Hejin Holding, and Super Alloy Industrial.

Further, the report states that some challenges restrict the growth of the global superalloy market. One of the major challenges is the volatility in nickel prices. The nickel market is witnessing volatility in prices due to weak demand for stainless steel, destocking in traditional market segments, and uncertainty in Philippine ore exports.

Explore other reports on advanced material at http://www.sandlerresearch.org/market-research/advanced-material .

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SOURCE Sandler Research