Market Overview:
The global nichrome alloy market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. Nichrome alloy is a type of chromium-nickel alloy that has high resistance to oxidation and corrosion. It is extensively used in resistors, home appliances, and industrial applications owing to its properties such as high electrical resistance, good thermal stability, and low coefficient of friction. The growth in the global nichrome alloy market can be attributed to the increasing demand for consumer electronics and appliances worldwide. Additionally, the growing demand for nichrome alloys in automotive applications is also contributing significantly to the growth of this market.
Product Definition:
Nichrome alloy is an alloy of nickel and chromium. It has high resistance to oxidation and corrosion, so it is used in heating elements, such as those in electric ovens and toasters. Nichrome alloy is also used in some dental braces.
Round Wire:
Round wire is a type of electrical resistance heating device made from Nichrome alloy. It has many advantages over other resistors such as it's small size, low cost and ability to withstand high temperatures. The round wire can be used in applications where space is at a premium or where the user needs to deal with multiple heaters.
The market for round wires was estimated to be worth USD 1,100 million in 2015.
Flat Wire:
Flat wire is a type of electrical conductor which has two sides, namely, the anode and the cathode. The anode (negative side) of flat wire attracts electrons while the cathode (positive side) repels them. Nichrome alloy is used as raw material for producing flat wires in various sizes and shapes such as round, hexagonal or octagonal shape among others.
Application Insights:
The industrial segment dominated the global nichrome alloy market in terms of revenue share in 2017. The growth can be attributed to increasing demand for high-quality products from various industries including automotive, construction, electronics and medical. In addition, the rising adoption of these products as an alternative to nickel and chromium alloys is expected to drive their demand over the forecast period.
Resistors are used across a wide range of applications such as consumer electronics, telecommunication equipment and electrical appliances among others. The growing use of electronic devices owing to enhanced performance capabilities coupled with technological advancements is anticipated fuel product demand over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several key automobile manufacturers such as Toyota, Honda, Suzuki, Hyundai, Kia Motors Corporation and Tata Motors. These companies are actively involved in research & development activities for manufacturing high-quality automobiles at competitive prices. This has resulted in high demand for nichrome alloy from end-use industries such as automotive and consumer appliances.
The presence of a large number of electric vehicle manufacturers including Tesla Inc.; Ford Motor Company; BMW AG; Nissan Motor Co., Ltd.; Volkswagen Group; and others has led to increased demand for Nichrome wire from battery components manufacturing industry across Asia Pacific region which will drive growth over the next eight years.
Growth Factors:
- Increasing demand from the electrical and electronics industry for Nichrome alloy as a heating element is expected to be a key growth driver for the market over the forecast period.
- Rising demand for Nichrome alloy in medical applications on account of its properties such as resistance to corrosion and oxidation is another factor anticipated to fuel market growth over the next few years.
- Growing use of Nichrome alloy in automotive applications due to its superior properties such as high strength, toughness, and durability is projected to boost demand significantly in the near future.
- Increasing popularity of nichrome alloys among consumers owing to their low cost and environmental friendly nature is likely to propel market expansion during the forecast period. 5) Technological advancements coupled with rising R&D investments are expected create new opportunities for Nichrome Alloy market players over the next few years
Scope Of The Report
Report Attributes
Report Details
Report Title
Nichrome Alloy Market Research Report
By Type
Round Wire, Flat Wire, Square Wire, Bars, Shaped Profiles
By Application
Resistors, Home Appliances, Industrial
By Companies
Deutsche Nickel GmbH, Tokyo Wire Works, Sandvik, VZPS, Tokyo Resistance Wire, Jiangsu Huaxin Alloy, TOKUSAI, Alloy Wire International
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
152
Number of Tables & Figures
107
Customization Available
Yes, the report can be customized as per your need.
Global Nichrome Alloy Market Report Segments:
The global Nichrome Alloy market is segmented on the basis of:
Types
Round Wire, Flat Wire, Square Wire, Bars, Shaped Profiles
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
Resistors, Home Appliances, Industrial
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:
- Deutsche Nickel GmbH
- Tokyo Wire Works
- Sandvik
- VZPS
- Tokyo Resistance Wire
- Jiangsu Huaxin Alloy
- TOKUSAI
- Alloy Wire International
Highlights of The Nichrome 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:
- Round Wire
- Flat Wire
- Square Wire
- Bars
- Shaped Profiles
- By Application:
- Resistors
- Home Appliances
- Industrial
- 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 Nichrome 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Nichrome alloy is a type of metal that is made from nickel and chromium. It has a high resistance to corrosion and is often used in electrical components because of its ability to conduct electricity well.
Some of the major players in the nichrome alloy market are Deutsche Nickel GmbH, Tokyo Wire Works, Sandvik, VZPS, Tokyo Resistance Wire, Jiangsu Huaxin Alloy, TOKUSAI, Alloy Wire International.
The nichrome alloy market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Nichrome 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 Nichrome Alloy Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Nichrome 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 Nichrome 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 Nichrome Alloy Market Size & Forecast, 2020-2028
4.5.1 Nichrome Alloy Market Size and Y-o-Y Growth
4.5.2 Nichrome 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 Round Wire
5.2.2 Flat Wire
5.2.3 Square Wire
5.2.4 Bars
5.2.5 Shaped Profiles
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 Resistors
6.2.2 Home Appliances
6.2.3 Industrial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Nichrome 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 Nichrome 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 Round Wire
9.6.2 Flat Wire
9.6.3 Square Wire
9.6.4 Bars
9.6.5 Shaped Profiles
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 Resistors
9.10.2 Home Appliances
9.10.3 Industrial
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 Round Wire
10.6.2 Flat Wire
10.6.3 Square Wire
10.6.4 Bars
10.6.5 Shaped Profiles
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 Resistors
10.10.2 Home Appliances
10.10.3 Industrial
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 Round Wire
11.6.2 Flat Wire
11.6.3 Square Wire
11.6.4 Bars
11.6.5 Shaped Profiles
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 Resistors
11.10.2 Home Appliances
11.10.3 Industrial
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 Round Wire
12.6.2 Flat Wire
12.6.3 Square Wire
12.6.4 Bars
12.6.5 Shaped Profiles
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 Resistors
12.10.2 Home Appliances
12.10.3 Industrial
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 Round Wire
13.6.2 Flat Wire
13.6.3 Square Wire
13.6.4 Bars
13.6.5 Shaped Profiles
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 Resistors
13.10.2 Home Appliances
13.10.3 Industrial
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 Nichrome Alloy Market: Competitive Dashboard
14.2 Global Nichrome Alloy Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Deutsche Nickel GmbH
14.3.2 Tokyo Wire Works
14.3.3 Sandvik
14.3.4 VZPS
14.3.5 Tokyo Resistance Wire
14.3.6 Jiangsu Huaxin Alloy
14.3.7 TOKUSAI
14.3.8 Alloy Wire International
