Nickel Alloy Market Definition
Nickel alloys are combinations of metals containing nickel and some other elements to improve their properties. Some metals used to make nickel alloys include iron, aluminum, copper, cobalt, chromium, and titanium. The beneficial properties of nickel alloys include high strength, heat resistance, ductility, high corrosion and oxidation resistance, magnetism, high or low thermal conductivity (depending on the alloy), and high weldability. These make them ideal for applications in heavy-duty industries, such as in turbines in the aerospace and automotive engines sectors. Nickel alloys are also used in chemical processing, oil and gas, medical, and electronics applications.
Structure
The nickel alloy market is divided by type into the kind of metals used in the alloy: nickel-chromium-iron, nickel-chromium, nickel-chromium-molybdenum, nickel-copper alloys
nickel-iron, and nickel-titanium alloys. By application, the market is segmented into aerospace, oil and gas, chemical, automotive, and others. Major players in the nickel-alloy market include
VDM Metals, Special Metals Corporation, ArcelorMittal, Carpenter Technology, Aperam (Imphy Alloys), Allegheny (ATI Corporate), Proterial Metals, Nippon Yakin, Sumitomo, Haynes International, Daido Steel, Alleima, Deutsche Nickel, voestalpine BÖHLER Edelstahl, Mitsubishi, Baowu Steel, Jiangsu Longda Superalloy, and Wedge Industrial.
Additional Information
The market's growth is driven by growth in sectors such as aerospace, medicine, and electronics. In the aerospace industry, alloys such as Inconel, a nickel-chromium-based superalloy, see widespread use in rocket engine parts and turbine blades due to their high operating temperatures. These alloys are also used in tanks, piping, pumps, pressure vessels, heat exchangers, and chemical processing devices. In the medical sector, nickel alloys have found growing use in orthopedic implants and stents.
