Market Overview:
The global heat resistant alloy market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for heat resistant alloys in various end-use industries, such as aerospace, industrial, automotive, mechanical industry, petrochemical and power industry. In terms of type, the nickel-based segment is expected to lead the global heat resistant alloy market during the forecast period. This can be attributed to its high thermal stability and resistance to corrosion.
Product Definition:
A heat resistant alloy is a metal that has been specifically designed to withstand high temperatures. These alloys are often used in aerospace and automotive applications, as well as in the construction of industrial ovens and furnaces. Heat resistant alloys are important because they can help to improve safety and efficiency by preventing equipment from overheating.
Nickel-based:
Nickel-based alloys are extensively used in heat resistant applications on account of their excellent properties including high strength, wear resistance and corrosion resistance. Nickel has the highest share in global heat resistant alloy market followed by titanium and chromium. Increasing demand for nickel-based alloys from aerospace industry is expected to drive the market over the forecast period. In addition, growing automotive industry is also anticipated to fuel product demand over the next seven years.
Iron-based:
Iron-based alloys are used in heat resistant products on account of their high strength and low cost. The most commonly used iron-based alloy is ferroalloy, which has a composition of around 65% to 70% by weight of iron with other metals such as nickel, chromium, molybdenum and manganese. Other types include ferrites (FeF2), hematite (Fe2O3) and magnetite (Fe3O4).
Application Insights:
The automotive industry was the largest application segment in 2016 and is expected to witness significant growth over the forecast period. The rising need for heat resistant alloys in various applications including aerospace, industrial, automotive and mechanical has resulted in a steady growth of the market. In addition, favorable government regulations regarding energy efficiency are anticipated to propel industry expansion over the coming years.
Heat resistant alloys have numerous applications such as aerospace components (elevators/landing gears), industrial machinery parts (machinery used for heating & cooling processes), medical equipment (equipment that uses magnets) and many more.
Regional Analysis:
North America was the largest market for global heat resistant alloys in 2016, accounting for a share of over 30%. The region is expected to dominate the industry over the forecast period. Increasing demand from various end-use industries such as aerospace and defense, automotive and transportation, industrial machinery is anticipated to drive growth. In addition, growing oil & gas exploration activities are projected to fuel product demand in North America during the forecast period.
The U.S., being an energy-rich nation holds a prominent position in terms of crude oil production across various regions owing to its large reserves of fossil fuels including shale gas and tight oil which are highly valued globally owing to their high calorific value (HCV).
Growth Factors:
- Increasing demand for heat resistant alloys from the automotive and aerospace industries due to their high thermal stability and corrosion resistance properties.
- Growing demand for lightweight and high-strength alloys in the transportation sector to reduce fuel consumption.
- Rising investments in research and development activities by alloy manufacturers to develop new heat resistant alloys with improved properties.
- Increasing use of heat resistant alloys in power generation plants owing to their ability to withstand high temperatures without degradation in performance or structural integrity .
Scope Of The Report
Report Attributes
Report Details
Report Title
Heat Resistant Alloy Market Research Report
By Type
Nickel-based, Iron-based, Cobalt-based
By Application
Aerospace, Industrial, Automotive, Mechanical Industry, Petrochemical, Power Industry, Others
By Companies
Hitachi Metal, Mitsubishi Materials, HAYNES, Precision Castparts Corporation, Carpenter Technology, Aperam, Eramet, Allegheny Technologies Incorporated, CMK Corporation, Nippon Yakin Kogyo, DONCASTERS GROUP LIMITED, VDM-Metals, Fushun Special Steel, Beijing Cisri-Gaona Materials & Technology, Shenyang Gina Alloy
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
225
Number of Tables & Figures
158
Customization Available
Yes, the report can be customized as per your need.
Global Heat Resistant Alloy Market Report Segments:
The global Heat Resistant Alloy market is segmented on the basis of:
Types
Nickel-based, Iron-based, Cobalt-based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Aerospace, Industrial, Automotive, Mechanical Industry, Petrochemical, Power Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hitachi Metal
- Mitsubishi Materials
- HAYNES
- Precision Castparts Corporation
- Carpenter Technology
- Aperam
- Eramet
- Allegheny Technologies Incorporated
- CMK Corporation
- Nippon Yakin Kogyo
- DONCASTERS GROUP LIMITED
- VDM-Metals
- Fushun Special Steel
- Beijing Cisri-Gaona Materials & Technology
- Shenyang Gina Alloy
Highlights of The Heat Resistant Alloy Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Nickel-based
- Iron-based
- Cobalt-based
- By Application:
- Aerospace
- Industrial
- Automotive
- Mechanical Industry
- Petrochemical
- Power Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Heat Resistant Alloy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Heat resistant alloys are materials that can withstand high temperatures without deteriorating. They are often used in products that need to be able to withstand extreme heat, such as engines and air conditioners.
Some of the major companies in the heat resistant alloy market are Hitachi Metal, Mitsubishi Materials, HAYNES, Precision Castparts Corporation, Carpenter Technology, Aperam, Eramet, Allegheny Technologies Incorporated, CMK Corporation, Nippon Yakin Kogyo, DONCASTERS GROUP LIMITED, VDM-Metals, Fushun Special Steel, Beijing Cisri-Gaona Materials & Technology, Shenyang Gina Alloy.
The heat resistant alloy market is expected to register a CAGR of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Heat Resistant Alloy Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Heat Resistant Alloy Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Heat Resistant Alloy Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Heat Resistant Alloy Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Heat Resistant Alloy Market Size & Forecast, 2020-2028
4.5.1 Heat Resistant Alloy Market Size and Y-o-Y Growth
4.5.2 Heat Resistant Alloy Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Nickel-based
5.2.2 Iron-based
5.2.3 Cobalt-based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Aerospace
6.2.2 Industrial
6.2.3 Automotive
6.2.4 Mechanical Industry
6.2.5 Petrochemical
6.2.6 Power Industry
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Heat Resistant Alloy Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Heat Resistant Alloy Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Nickel-based
9.6.2 Iron-based
9.6.3 Cobalt-based
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Aerospace
9.10.2 Industrial
9.10.3 Automotive
9.10.4 Mechanical Industry
9.10.5 Petrochemical
9.10.6 Power Industry
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Nickel-based
10.6.2 Iron-based
10.6.3 Cobalt-based
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Aerospace
10.10.2 Industrial
10.10.3 Automotive
10.10.4 Mechanical Industry
10.10.5 Petrochemical
10.10.6 Power Industry
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Nickel-based
11.6.2 Iron-based
11.6.3 Cobalt-based
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Aerospace
11.10.2 Industrial
11.10.3 Automotive
11.10.4 Mechanical Industry
11.10.5 Petrochemical
11.10.6 Power Industry
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Nickel-based
12.6.2 Iron-based
12.6.3 Cobalt-based
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Aerospace
12.10.2 Industrial
12.10.3 Automotive
12.10.4 Mechanical Industry
12.10.5 Petrochemical
12.10.6 Power Industry
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Nickel-based
13.6.2 Iron-based
13.6.3 Cobalt-based
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Aerospace
13.10.2 Industrial
13.10.3 Automotive
13.10.4 Mechanical Industry
13.10.5 Petrochemical
13.10.6 Power Industry
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Heat Resistant Alloy Market: Competitive Dashboard
14.2 Global Heat Resistant Alloy Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hitachi Metal
14.3.2 Mitsubishi Materials
14.3.3 HAYNES
14.3.4 Precision Castparts Corporation
14.3.5 Carpenter Technology
14.3.6 Aperam
14.3.7 Eramet
14.3.8 Allegheny Technologies Incorporated
14.3.9 CMK Corporation
14.3.10 Nippon Yakin Kogyo
14.3.11 DONCASTERS GROUP LIMITED
14.3.12 VDM-Metals
14.3.13 Fushun Special Steel
14.3.14 Beijing Cisri-Gaona Materials & Technology
14.3.15 Shenyang Gina Alloy
