Nickel Alloys Market by Function (Corrosion Resistant, Electronic Alloys, Heat Resistant Alloys, High Performers Alloy), End User (Aerospace and Defense, Automotive, Chemical, Others) -Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-25

Nickel alloys are the mixture of nickel and other metals or elements. Nickel alloys with iron, copper, chromium, lead, aluminum, silver, gold, cobalt, and other elements are used to produce cast iron, stainless steel, Incoloy, Inconel, Monel, and other alloys. Nickel alloys have several properties such as heat resistance, electric resistance, toughness, strength at low and high temperature, corrosion resistance, and special electronic and magnetic properties. Due to these properties, they are used in batteries, coatings, mobile phones, kitchenware, mobile phones, jewelry, medical equipment, buildings, transport, and power generation. They are used in automotive industry for motors, generators, heating elements, turbochargers, gears, exhaust valve, brake fluid lines, cylinder liners, pistons, wiper, mufflers, catalyst, and clamps. They are widely used in aircraft for manufacturing exhaust systems, blades, hydraulic pumps, and other components. Nickel alloys are also used in power generation turbines, marine fasteners, and electronics. Therefore, Mentioned uses of nickel alloys in various industries are the drivers for the growth of nickel alloy market. The increasing cost of raw materials is the major restraint for nickel alloy market.

Nickel Alloys Market Taxonomy

Based on function, the nickel alloys market is segmented into:

  • Corrosion resistant alloys
  • Electronic alloys
  • Heat resistance alloys
  • High-performance alloys
  • Others

Based on the end user, the nickel alloys market is segmented into:

  • Aerospace & Defense 
    • Aircraft Engines
    • Defense Equipment
  • Automotive 
    • Exhaust Valves
    • Turbocharger
    • Others
  • Chemical 
    • Chemical Reactors
    • Heat Exchangers
    • Pressure Vessels
    • Others
  • Electrical & Electronics 
    • Precision Measurement Instruments
    • Electrical & Electronic Device and Components
  • Energy & Power 
    • Nuclear Power Plant Components
    • Power Plants Components
  • Oil & Gas 
    • Pipeline
    • Separators
    • Scrubbers
    • Pumps
    • Others
  • Others

High resistance alloys are projected to be the largest segment in the nickel alloys market in 2017. This is due to their applications in various industries such as oil and gas, aerospace, chemical, energy, and power. Nickel alloys have major applications in defense and aerospace, owing to their superior physical and mechanical properties.  

Nickel Alloys -Market Outlook

  • Asia Pacific is the largest market for nickel alloys, owing to the lucrative aerospace, automotive, defense, energy, and power sector. The increase in manufacturing and export sector has augmented the nickel alloys market. The significant contributors to nickel alloy market in Asia Pacific are India, China, South Korea, and Japan. India Brand Equity Foundation (IBEF), a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India estimated that the automotive market will reach US$ 16.5 billion by 2021 and generate annual revenue up to US$ 300 billion by 2026. Growing automotive sector in India is expected to augment the nickel alloy market.   
  • North America has a significant demand for nickel alloys due to steady growth in automobiles, electronics, aviation, and defense industry. Growing chemical industry in the USA is fuelling the growth of nickel alloy market.
  • The use of nickel alloys in high-performance technologies, owing to its advantages such as heat resistance, durability, and strength is fuelling the growth of nickel alloy market. According to the European Union, nickel-based alloy operations and production are concentrated in Germany, Italy, United Kingdom, France, and Sweden. Growing automotive and oil and gas sector in the Middle East is fueling the growth of nickel alloys market.
  • The steady economic growth in Latin America and the Middle East is fueling the growth of automobile, aviation, electronics, and chemical sector, in turn augmenting the nickel alloy market.

The companies are adopting various organic and inorganic growth strategies to retain their market position. key players operating the nickel alloys market include Allegheny Technologies Incorporated, Ametek Inc., Aperam S.A., Carpenter Technology Corporation, Haynes International Inc., Kennametal Inc., Precision Castparts Corporation, Rolled Alloys Inc., Sandvik Materials Technology, ThyssenKrupp AG, VDM Metals GmbH, and Voestalpine AG.­­

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

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  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
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  • End-users

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