Nickel Alloys Market Growth Analysis | 2025-2031

Attractive Opportunities

Global Demand Analysis & Sales Opportunities in Nickel Alloys Market 

• The annual demand for nickel alloys was USD 14.7 billion in 2024 and is expected to reach USD 15.7 billion in 2025, up 6.7% than the value in 2024.
• During the forecast period (2025-2031), the nickel alloys market is expected to grow at a CAGR of 4.2%. The annual demand will reach USD 20.1 billion in 2031.
• During 2025-2031, the nickel alloys industry is expected to generate a cumulative sales opportunity of USD 126.1 billion, which is more than 1.5 times the opportunities during 2019-2024.

High-Growth Market Segments: 

• North America generated the highest demand with the largest market share of more than 40% in 2024, whereas Asia-Pacific is likely to remain the fastest-growing region in the market over the forecasted years.
• By product type, Flat products will be the market's largest and fastest-growing product type during the forecast period.
• By end-use industry type, Aerospace is expected to be the demand generator of the nickel alloys market.

Market Statistics 

Have a look at the sales opportunities presented by the nickel alloys market in terms of growth and market forecast.

Market Dynamics

Introduction:

Nickel alloys are non-ferrous metals with high strength and toughness, excellent corrosion resistance, and superior elevated temperature properties. Nickel-Copper, Nickel-Chromium-Iron, Nickel-Chromium-Molybdenum, and Nickel-Molybdenum form a majority of the nickel alloys market. Globally, manufacturers sell nickel alloys as plates, strips, semis, bars, seamless, and wires. These alloys find their applications in the aerospace, power and energy, automotive, process, and other niche markets. They offer high strength, corrosion resistance, oxidation resistance, thermal stability, creep resistance, and excellent durability, making them ideal for demanding applications.

Industries are increasingly prioritizing nickel alloy recycling and sustainable production methods to reduce carbon footprints, conserve resources, and meet environmental regulations. Extensive R&D in superalloys, nanostructured materials, and advanced coatings is expanding the potential applications of nickel alloys in future technologies.

Market Drivers:

• Increasing production of commercial and military aircraft, with rising demand for high-temperature-resistant superalloys in jet engines, turbine blades, and structural components.
• Increasing EV production with the increasing use of nickel alloys in the automotive industry for reducing weight and improving engine performance.
• Growing petrochemical and chemical industries are driving demand for corrosion-resistant nickel alloys in heat exchangers, reactors, and pipelines to withstand harsh operating conditions.
• The increase in demand for nickel-based conductive materials in batteries, connectors, sensors, and semiconductors drives the demand for nickel alloys in electrical and electronics applications.

Segment Analysis

By Product Type

“Flat products are likely to hold the dominant market position during the forecast period.”

• Based on the product type, the nickel alloys market is bifurcated into bars, flat products, tubes, and other types. Among these products, flat products remain the leading product as well as the fastest-growing product type in the years to come. They are used in multiple applications ranging from aerospace, power generation, chemical processing, and marine industries.
• Key properties of flat products that drive its demand are high corrosion resistance, heat resistance, and ease to machine, weld, and form into complex shapes.

By End-Use Industry Type

“Aerospace is likely to remain the dominant end-use industry type, whereas process industry is expected to experience the fastest growth during the same period.”

• Based on the end-use industry type, the market is segmented into aerospace, power & energy, process industry, electrical & electronics, automotive, and other end-use industries.
• Aerospace is estimated to remain the dominant end-use industry in the years to come, favored by growing demand for high-temperature and corrosion-resistance materials, making it extremely useful for the construction of aircraft exhaust valves and turbine rotors.
• During the last few years, the industry has witnessed a significant increase in air traffic, which has fuelled the production of aircraft and high-strength nickel alloys.

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Regional Insights

“North America is expected to be the dominant region, whereas Asia-Pacific is likely to experience the fastest growth in the market during the forecast period.”

• North America is the go-getter to most industries. Furthermore, all the leading players prefer to have a manufacturing plant in the region to remain close to their customers and work along with them in their emergent needs. It has the largest consumption share in the nickel alloys market because of its well-established industry in the aerospace and energy industries. It also enjoys first-rate manufacturing technologies, strong R&D, and key market makers that are fueling innovation in nickel alloy applications.
• Asia-Pacific is expected to be the fastest-growing market for nickel alloys over the forecast period. There has been a gradual shift in the manufacturing base of most of the end-use industries. For instance, the electrical and electronic industry has been moving to Asia, particularly China, which is creating bigger opportunities for nickel alloys market stakeholders in the coming years. Furthermore, a high focus on the development of several products indigenously is giving additional impetus to the demand for nickel alloys in the region in the coming years.

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Competitive Landscape

The market is moderately fragmented, with a large number of players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the nickel alloys market.

Here is the list of the Top Players (Based on Dominance)

• ATI, Inc.
• VDM Metals GmbH
• Carpenter Technology Corporation
• Aperam S.A.
• Haynes International, Inc.
• Nippon Yakin Kogyo Co., Limited
• Jiangsu Toland Alloy Co., Limited
• Aubert & Duval S.A.
• Mishra Dhatu Nigam Limited
• Materion Corporation

Note: The above list does not necessarily include all the top players in the market.

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Recent Market Collaborations, JVs, and Acquisitions:

Healthy growth and rapid change in the market dynamics in the wake of geopolitical changes are driving several activities related to mergers and acquisitions. Some of these are the following:.

• Recently, in November 2024, Acerinox, S.A. acquired Haynes International Corporation for an approximate value of US$ 798.7 Million. The acquisition strengthens Acerinox. Inc.’s position in high-performance alloys.
• In June 2024, Tri Star Metals and Aubert & Duval signed a distribution joint venture agreement for a defense industry product line.
• In April 2023, Airbus, Safran, and Tikehau Capital (a holding company) acquired Aubert & Duval from Eramet. The acquisition makes Aubert & Duval one of Europe’s biggest suppliers in aerospace & defense and energy industries.
• In July 2021, Acerinox, S.A. acquired VDM Metals Group for approximately US$ 629.1 million. The acquisition enhanced Acerinox, Inc.’s presence in special nickel alloys and high-performance stainless steel.
• In April 2019, Allegheny Technologies Incorporated signed a long-term purchase agreement with Rolls-Royce, which includes providing disk-quality nickel alloys for their new-generation aircraft engines.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation 

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The nickel alloys market is segmented into the following categories:

Nickel Alloys Market, by Product Type

• Bars
• Flat Products
• Tubes
• Others

Nickel Alloys Market, by End-Use Industry Type

• Aerospace
• Power & Energy
• Process Equipment
• Electrical & Electronics
• Automotive
• Others

Nickel Alloys Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s nickel alloys market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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