© 2019 Global Market Insights, Inc. USA. All Rights Reserved Nickel Alloy Market trends research and projections for

Global Market Scenario of Nickel Alloy Industry © 2019 Global Market Insights, Inc. USA. All Rights Reserved  Growth in the aerospace & defense sector in emerging economies shall positively influence the nickel alloy market in coming years. For instance, the global airline passenger traffic was 4.25 revenue passenger kilometers (RPKs) billion in 2006 and surpassed 5.89 RPKs billion in In addition, the global RPKs is forecast to reach billion by 2033, with an annual growth of 5% from 2015 to nickel alloy market  Nickel Alloy Market size is likely to grow with a prominent CAGR during the forecast timespan. Significant growth in various end-use industries such as aerospace & defense, automotive, etc. due to surge in personnel income level coupled with increasing demand for automobiles will complement industry growth.  Automobile sales has grown from 66 million in 2013 to 97 million in 2017 and is projected to continue to grow at a same pace during the forecast timespan. This will positively influence the entire nickel alloy market by  Nickel alloys are used for their outstanding corrosion and high temperature resistance characteristics. These alloys are used to resist extremely corrosive conditions in the chemical, energy & power and petrochemical industries. Exponential size and significant growth in the chemical industry shall propel the product demand in near future. In power generation industry nickel alloys are used to manufacture the turbines.

© 2019 Global Market Insights, Inc. USA. All Rights Reserved Regional Trends:- Asia Pacific shall be the fastest growing region in nickel alloy market. This can be attributed to the substantial growth in regional power & energy and electrical & electronics industries. Emerging economies such as China, India, and Indonesia are creating high energy demand, and this will positively influence the power & energy industry growth in the region with a highest CAGR globally. Moreover, increasing digitization in region is boosting the electronics & electrical market growth, which is attributed to the surge in disposable income of the people in the region. Europe will be the next promising region in global nickel alloy market owing to the presence of automobile manufacturing industry.

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© 2019 Global Market Insights, Inc. USA. All Rights Reserved Competitive Trends: There are many multinational giants and medium scale manufacturers operating in the nickel alloy market. Some major product manufacturers include, VDM metals GmBH, Sandvik AB, Aperam S.A., Allegheny Technologies Incorporated, ThyssenKrupp AG, CRS Holdings Inc., Haynes International, Precision Castparts Corporation, Rolled Alloys, Inc., Voestalpine AG and Ametek Inc. The companies operating in the value chain are increasing their production capacity to meet customer needs and reduce the product cost. For instance, Sandvik is investing approximately USD 25 million in a new plant for the manufacturing of titanium and nickel fine metal powders. This new production facility will enhance the entire product landscape of the company.

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