The Latest Superalloys Industry Statistics Explained
The global superalloys market size was valued at USD 6.16 billion in 2019.
The statistic “The global superalloys market size was valued at USD 6.16 billion in 2019” indicates the total value of superalloys traded worldwide during the year 2019. Superalloys are a group of high-performance alloys known for their exceptional resistance to high temperatures, corrosion, and wear. The market size value of USD 6.16 billion reflects the total revenue generated from the sales of superalloys across various industries such as aerospace, automotive, energy, and industrial sectors. This statistic serves as a key indicator of the demand and growth potential of superalloys in the global market, highlighting their importance in advanced engineering applications.
It is expected to register a CAGR of 6.6% from 2020 to 2027.
This statistic indicates the Compound Annual Growth Rate (CAGR) that is projected for a certain metric from the year 2020 to 2027. A CAGR of 6.6% means that on average, the metric is expected to increase by 6.6% each year over this 7-year period. This provides a consistent annual growth rate that can be used to forecast future values and understand the overall trend of the metric over the specified time frame. The CAGR helps to smooth out fluctuations in annual growth rates and provides a more stable representation of the growth trajectory of the metric.
Nickel-based superalloys led the market and accounted for a share of over 70.0% in terms of revenue in 2019.
This statistic indicates that nickel-based superalloys were the dominant player in the market in 2019, capturing more than 70% of the total revenue generated within the industry. Nickel-based superalloys are high-performance materials known for their exceptional strength, corrosion resistance, and ability to withstand high temperatures, making them ideal for use in aerospace, energy, and other demanding sectors. The fact that they accounted for such a significant market share underscores their popularity and value within these industries, highlighting their competitive advantage and market leadership in terms of revenue generation compared to other alloy types.
Asia Pacific led the market and accounted for more than 35.0% share of the global revenue in 2019.
This statistic indicates that in 2019, the Asia Pacific region held a dominant position in the market by generating more than 35.0% of the total global revenue. This demonstrates the significant economic impact and influence of the Asia Pacific region in the industry during that period. The high market share suggests that companies operating in the Asia Pacific region were successful in capturing a substantial portion of the market demand, potentially due to factors such as population size, economic growth, technological advancements, and consumer behavior trends in the region. This data highlights the importance of the Asia Pacific market in driving overall industry performance and signals opportunities for businesses to further capitalize on this region’s growth potential.
The size of the global superalloys market is expected to reach $7.4 billion by 2025.
The statistic that the size of the global superalloys market is expected to reach $7.4 billion by 2025 indicates the projected value of the market for these advanced materials used in high-performance applications, such as aerospace, automotive, and energy industries. This forecast suggests significant growth potential for the global superalloys industry over the coming years, driven by factors such as technological advancements, increasing demand for high-temperature and corrosive-resistant materials, and expanding applications in key sectors. This projection also underscores the importance of superalloys in supporting critical and innovative technologies and infrastructure, positioning the market as a key player in the advancement of various industries worldwide.
Aerospace & defense constituted over half of the total market share in 2017.
This statistic states that the aerospace and defense industry held more than 50% of the total market share in the year 2017. This highlights the significant influence and dominance of the aerospace and defense sector within the overall market during that specific time period. The data suggests that these industries were the major players and key drivers of economic activity, showcasing their importance in terms of revenue generation, technological advancement, and job creation. This statistic underscores the competitive edge and substantial contribution of the aerospace and defense sector to the overall market landscape in 2017.
The demand for superalloys in the U.S. is estimated to exceed 190 kilotons by 2025.
The statistic “The demand for superalloys in the U.S. is estimated to exceed 190 kilotons by 2025” indicates the projected increase in the consumption of superalloys, a class of high-performance alloys known for their superior strength, heat resistance, and corrosion resistance, in the United States by the year 2025. This estimation suggests a growing demand for superalloys in various industries such as aerospace, automotive, and energy, likely driven by advances in technology, increased manufacturing activities, and the need for materials that can withstand extreme conditions. Meeting this projected demand may require increased production capacities, innovations in alloy compositions, and strategic supply chain management to ensure a stable supply of superalloys to meet the evolving needs of the market.
Europe superalloy market size, dominated by UK, France, and Germany, should surpass $2 billion by 2024.
The statistic relates to the projected growth of the superalloy market in Europe, highlighting that it is primarily led by the major players such as the UK, France, and Germany. The statement suggests that by the year 2024, the market size of superalloys in Europe is expected to exceed $2 billion. This indicates a significant expected increase in demand for superalloys within the region, potentially driven by factors such as industrial expansion, technological advancements, and increasing applications of superalloys in various sectors. The dominance of the UK, France, and Germany in this market further emphasizes the importance of these countries in shaping the trajectory of the European superalloy industry.
Cobalt superalloys market size may register gains close to 5% by 2024.
The statistic “Cobalt superalloys market size may register gains close to 5% by 2024” suggests that the market for cobalt superalloys is forecasted to experience an increase of approximately 5% by the year 2024. This indicates a potential growth in the demand and consumption of cobalt superalloys within various industries such as aerospace, automotive, and energy. The projected gain reflects a positive outlook for the market, driven by factors such as technological advancements, increasing applications of cobalt superalloys, and economic trends. It implies that the market is expected to expand in the near future, presenting potential opportunities for businesses operating in the cobalt superalloys sector.
The industrial gas turbine application segment should register over $170 million in terms of revenue by 2024.
The statistic “The industrial gas turbine application segment should register over $170 million in terms of revenue by 2024” implies that the industrial gas turbine industry is projected to experience growth and generate significant revenue in the upcoming years. This prediction is based on current trends, market analysis, and the expected demand for industrial gas turbines in various applications by 2024. The figure of over $170 million suggests a substantial amount of revenue that is anticipated to be generated within this particular segment of the market. This statistic can be useful for stakeholders in the industrial gas turbine industry, providing insights into potential market opportunities and future growth prospects.
The aerospace sector accounted for over 40% of superalloy usage in 2017.
The statistic ‘The aerospace sector accounted for over 40% of superalloy usage in 2017’ indicates that the aerospace industry consumed a significant portion of superalloys, which are high-performance materials known for their exceptional strength and heat resistance. The fact that this sector alone accounted for more than 40% of the total usage highlights the crucial role of superalloys in aerospace applications, such as aircraft engine components and structural materials. The data suggests a heavy reliance on superalloys in the aerospace sector, emphasizing the importance of these materials in enabling the industry to meet the demanding requirements of high-performance and safety standards.
The Iron-based superalloys are expected to grow at a CAGR of around 4% up to 2024.
The statement indicates that the Iron-based superalloys industry is forecasted to experience a Compound Annual Growth Rate (CAGR) of approximately 4% from the current period up to the year 2024. This growth rate suggests a steady increase in the market size and demand for Iron-based superalloys over the specified timeframe. A CAGR of 4% implies that the industry is expected to expand consistently at that annual rate, reflecting positive prospects for the market in terms of production, sales, and consumption. This statistic could be indicative of factors such as increasing adoption of Iron-based superalloys in various applications, technological advancements, or growth in related industries that drive demand for these materials.
Asia-Pacific superalloys market size is witnessing substantial growth by 2024.
The statistic “Asia-Pacific superalloys market size is witnessing substantial growth by 2024” indicates that the market for superalloys in the Asia-Pacific region is experiencing significant expansion and is expected to continue growing at a notable rate until 2024. Superalloys are high-performance materials known for their exceptional strength, heat resistance, and corrosion resistance, making them ideal for demanding applications in industries such as aerospace, automotive, and power generation. The increasing demand for superalloys in the Asia-Pacific region is likely driven by factors such as the growing industrialization, technological advancements, and the rising need for high-quality materials in various sectors. This trend suggests potential opportunities for industry players to capitalize on the expanding market and cater to the increasing demand for superalloys in the Asia-Pacific region.
In 2017, superalloys market from automotive was valued at over $3 billion.
The statistic indicates that in 2017, the market for superalloys within the automotive industry amounted to a value exceeding $3 billion. Superalloys are a type of high-performance alloy known for their exceptional mechanical strength, heat resistance, and corrosion resistance, making them suitable for demanding applications in industries like automotive, aerospace, and energy. The fact that the superalloys market specifically within the automotive sector reached such a significant value suggests a strong demand for these materials to enhance the performance, durability, and efficiency of various automotive components and systems. This could be driven by factors such as the increasing emphasis on lightweight materials, as well as the growing trend towards more advanced and high-performance vehicles within the automotive market.
The North American region is projected to expand at a CAGR of 3% from 2018 to 2025.
This statistic implies that the North American region is forecasted to experience a Compound Annual Growth Rate (CAGR) of 3% between the years 2018 and 2025. This indicates that, on average, the economy or a specific industry within North America is expected to grow at a steady rate of 3% annually over this period. This projection suggests potential increases in production, revenue, and overall economic activity within the region, serving as an indicator of the anticipated growth trajectory for businesses and investors operating in North America during this time frame.
The superalloy market in China is set to reach $2.4 billion by 2025.
This statistic indicates the projected growth of the superalloy market in China, with an expected value of $2.4 billion by the year 2025. The term “superalloy” refers to a group of high-performance alloys known for their exceptional resistance to high temperatures, corrosion, and mechanical stress. The projected market value suggests a significant increase in demand for superalloys in China, likely driven by various industries such as aerospace, automotive, and energy. This growth forecast may be indicative of China’s expanding industrial capabilities and the country’s increasing focus on advanced manufacturing sectors.
The superalloy market in India is set to reach $1.2 billion by 2025.
The statistic “The superalloy market in India is set to reach $1.2 billion by 2025” conveys the projected value of the superalloy industry in India in the year 2025. This figure serves as a forecast indicating the expected size and growth of the market for superalloys, which are high-performance metal alloys designed for use in extreme environments like high temperatures and pressures. The $1.2 billion valuation signifies the total market value of superalloy products and services in India by 2025, suggesting potential opportunities for businesses operating in this industry and highlighting the country’s growing demand for advanced materials for various industrial applications.
The size of Indian Superalloys market accounted for $800 million in 2017.
The statistic “The size of the Indian Superalloys market accounted for $800 million in 2017” indicates the total value of sales or revenue generated within the Indian Superalloys industry for the year 2017. This figure reflects the collective economic activity within the market, encompassing the value of all products sold, services rendered, and any other transactions related to superalloys in India during that period. The $800 million represents the overall scale and financial significance of the Indian Superalloys market, highlighting its contribution to the national economy and providing insights into the industry’s size and potential growth prospects.
In Europe, Germany accounted for the largest share of the superalloy market in 2017.
The statistic “In Europe, Germany accounted for the largest share of the superalloy market in 2017” indicates that, among European countries, Germany had the highest production or consumption of superalloys in that particular year. Superalloys are high-performance metals that exhibit superior mechanical strength, corrosion resistance, and temperature stability, making them ideal for use in industries such as aerospace, automotive, and energy. Germany’s dominance in the European superalloy market suggests its strong manufacturing capabilities, technological advancements, and potentially significant demand for superalloy products within the country as well as for exports to other regions. This statistic highlights Germany’s leadership in the production and utilization of advanced materials in Europe’s industrial landscape.
The global superalloy market for oil & gas application is set to exceed $1 billion by 2025.
The statistic indicates that the global superalloy market, specifically for oil and gas applications, is anticipated to surpass a value of $1 billion by the year 2025. Superalloys are known for their exceptional mechanical strength, resistance to high temperatures, and corrosion properties, making them highly valuable in demanding industries like oil and gas. This projection suggests a growing demand for superalloys within the oil and gas sector, likely driven by increasing exploration and production activities, as well as the need for materials that can withstand harsh operating conditions. The market expansion beyond the $1 billion mark emphasizes the significance of these specialized materials in supporting the evolving needs of the oil and gas industry.
References
0. – https://www.www.transparencymarketresearch.com
1. – https://www.www.alliedmarketresearch.com
2. – https://www.www.gminsights.com
3. – https://www.www.prnewswire.com
