Rising Demand for Corrosion Resistant Alloys in Oil & Gas Industry
The share of total oil and gas production from offshore areas has augmented in recent years, and the rapid growth of ultra-deepwater production is anticipated in the future. Lately, oil and gas production has become more challenging as the site conditions have become increasingly severe, with higher temperatures, higher pressures, and sour fields (high H2S content) with high CO2 levels. All these challenges require advanced technologies, improved equipment, and high-performance materials to ensure the smooth extraction of oil and gas. This creates a huge scope for the corrosion resistant alloys (CRAs) to penetrate into the oil & gas market, as they are better suited to meet increasingly demanding requirements in exploration and production. Thus, the demand for special alloy steels, stainless steels, and nickel alloys for upstream oil and gas applications has grown substantially, and this trend is projected to continue in the upcoming years.
Aerospace End-user Segment to Dominate the Market
Aerospace industry accounts for over half of the global super alloy demand. Nickel alloys, due to their high strength, resistivity, and increased reliability, are used to manufacture various aircraft models. The nickel demand from aerospace industry is growing even faster than the increase in aircraft deliveries, due to increased aircraft size and performance requirements. Superior features of nickel alloys, coupled with the growing aerospace industry is expected to increase the consumption of nickel alloys in the aerospace industry.
Asia-Pacific to Dominate the Market
The Asia-Pacific region is expected to dominate the global nickel alloys market over the forecast period due to the growing demand from the end-user industries such as automotive, aerospace and defense, and energy & power. China, Japan, India, and South Korea are the major contributors in the region. Asia-Pacific is followed by Europe and North America. Things containing nickel alloys are used in our regular life includes food preparation equipment, mobile phones, medical equipment, transport, buildings, power generation, etc., all of which are expected to drive the market.
Key Developments in the Market
February 2018: Sandvik decided to invest about SEK 200 million in a new plant for manufacturing of nickel metal powders.
January 2018: ATI and Tsingshan announced the formation of a joint venture.
Major players include ATI, VDM Metals, Sandvik Materials Technology AB, ThyssenKrupp AG, and Carpenter Technology Corporation, amongst others.
Reasons to Purchase the Report
Identify the current trends in the global nickel alloys market in the developed and emerging markets.
Analyze various perspectives of the market with the help of Porter’s Five Forces Analysis.
Information about the segment that is expected to dominate the market.
Identify the regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
Customization of the Report
This report can be customized to meet your requirements.
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Nickel Price Analysis
3.4 Trade Analysis
4. Market Dynamics
4.1.1 Increasing Demand from Aerospace and Defense Industry
4.1.2 Rising Demand for Corrosion Resistant Alloys in Oil & Gas Industry
4.2.1 Unviablity of Nickel Chromium Alloys in High Temperature and Sulfur Rich Environments like Coal Burning Plants
4.2.2 Other Restraints
4.3.1 Growing Popularity of Electric Vehicles
4.3.2 Emerging Application in Medical Industry
5. Market Segmentation and Analysis
5.1 By Type
5.1.1 Heat Resistant Nickel Alloys
5.1.2 Corrosion Resistant Nickel Alloys
5.1.3 Electronic Alloys
5.1.4 High Performance Nickel Alloys
5.2 By End-user Industry
5.2.2 Electrical & Electronics
5.2.3 Oil & Gas
5.2.4 Chemcial Process Industry
6. Regional Market Analysis
6.1 Nickel Production Analysis
6.1.1 United States
6.1.9 South Africa
6.1.10 Other Countries
6.2 Nickel Alloy Consumption Analysis
126.96.36.199 South Korea
188.8.131.52 ASEAN Countries
184.108.40.206 Rest of Asia-Pacific
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
6.2.3 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
6.2.4 South America
188.8.131.52 Rest of South America
6.2.5 Middle East & Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 Allegheny Technologies Incorporated
8.2 Aperam S.A.
8.3 Carpenter Technology Corporation
8.4 Cogne Acciai Speciali S.P.A
8.5 Columbia Metals Ltd
8.6 Haynes International Inc.
8.7 JLC Electromet Pvt Ltd
8.8 Kennametal, Inc.
8.10 Precision Castparts Corporation
8.11 Rolled Alloys, Inc.
8.12 Sandvik Materials Technology Ab
8.13 Sanyo Special Steel Co., Ltd
8.14 SIJ - Slovenian Steel Group, d. d.
8.15 Thyssenkrupp AG
8.16 Unifit Metalloys, Inc.
8.17 VDM Metals GmbH
8.18 Villares Materials
8.19 Voestalpine AG
8.20 WaLL Colmonoy Corporation
*List not Exhaustive
9. Future of the Market
**Subject to Availability in Public Domain
- Aperam S.A.
- Carpenter Technology Corporation
- Cogne Acciai Speciali S.P.A
- Columbia Metals Ltd
- Haynes International Inc.
- JLC Electromet Pvt Ltd
- Kennametal Inc.
- Novametal SA
- Precision Castparts Corporation
- Rolled Alloys Inc.
- Sandvik Materials Technology AB
- Sanyo Special Steel Co. Ltd
- SIJ - Slovenian Steel Group
- d. d.
- Thyssenkrupp AG
- Unifit Metalloys Inc.
- VDM Metals GmbH
- Villares Materials
- Voestalpine AG
- WaLL Colmonoy Corporation