Superalloys Market Revenue and Value Chain -2021

Report Scope: The scope of this investigation includes the major superalloy categories that are relevant to an array of mechanical products and equipment. Superalloys provide enhanced durability, excellent thermal management and associated properties, and other key benefits that are critical to the operation of many high-tech mechanical and industrial equipment and facilities. The specific technology categories considered in this report are shown below, which include all major sectors bearing moderate to large markets for superalloy materials on a global basis. This report focuses explicitly on superalloys and does not consider other alloys such as advanced titanium or steel alloys.

Superalloy categories considered in this report:
- Airplane jet engines: jet engines for commercial cargo and passenger airlines; jet engines for private business airlines; jet engines for military applications; jet engines for rotary (helicopter) applications.
- Power generation: utility gas turbines; industrial gas turbines for power generation; steam turbines; nuclear reactors.
- Industrial applications: gas compressors; chemical processing equipment; waste processing equipment; thermal processing equipment.
- Oil and gas extraction: subsea topsides; drilling and completion; compressor systems.
- Automotive: turbochargers; other engine components.

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Biomedical applications are also covered in this report. However, they carry a small market size and therefore market data, with breakdowns by material and region but not by their application within the biomedical category, and are provided in an appendix.

The data, market information, and industry insights presented are intended to provide a holistic overview of all the major markets for superalloys. The market analysis submitted in this report is based on a variety of data sources. These include the most recent corporate, industrial, and government data on superalloy production, sales, imports and exports. The manufacturing and industrial productivity data is intended to help gauge anticipated future market growth. The results from the data generated by recent and ongoing research and development efforts are aimed at identifying new and developing niches for certain classes of superalloys and their potential for associated growth.

Research and development of new superalloys and associated materials are key drivers of future market growth within the industry. Emerging superalloys that may become commercially viable within the next five years are summarized but are not included in the market assessment of this report. BCC Research analyzes each major viable superalloy, as shown above, determines its current market status, examines its impact on future markets, and presents forecasts of growth over the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in support of this industry. Sales of superalloys into various industrial and manufacturing categories and end uses are considered.

BCC Research analyzes the superalloys industry on a worldwide basis regarding the production and sale of superalloys, as these are incorporated into a variety of products. BCC Research also examines institutional and government support, including research and development (R&D), which ultimately provides support to long-term growth in superalloys markets, as relevant through 2021. BCC Research also discusses recent trends and projections in terms of unit sales, as well as market sales values. Report Includes: - An overview of the global market for superalloys.
- Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021.
- Examination of the market based on market share, product and application types, as well as region.
- An overview for the existing applications as well as new potential markets with upcoming technologies.
- Analyses of the technologies and factors influencing market demand.
- Evaluations of the market structure by major end users, major manufacturers and their market shares, and trends in price.
- Profiles of major companies in the industry.

Report Summary

Superalloys form the backbone of contemporary air transit and thermal power generation industries – industries that are evolving rapidly to meet new and increased demands while deploying new and advanced technologies that are enhancing fuel and energy efficiency while curbing airborne emissions. However, superalloy deployments are not limited to these two areas. These exceptionally strong, highly heat- and corrosion-resistant metal alloys are also finding application in other industries where they are bringing significant benefit. Superalloy technologies have, for example, enabled the proliferation of turbochargers in the global automotive industry, helping to advance automobile and commercial vehicle fuel efficiency and performance significantly. Turbomachinery applied to oil and gas segments contributes to enhanced oil recovery (EOR) through efficient gas compression, while superalloy based drills allow drilling operators to tap petroleum resources buried beneath deep, hot, and resistant geologic formations. Finally, superalloys applied to industry specific processes are supporting new advances in chemicals production, more effective and efficient petroleum refining and petrochemical production, and conventional and advanced thermal processing.

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Superalloys touch multiple market categories, each of which varies based on industry-specific factors, ranging from energy efficiency to consumer preference. As such, identifying factors relevant to the market as a whole, or to a particular desired application or outcome, can be confounding. To address this critical issue, BCC Research has assembled a comprehensive overview of current and near-term future superalloy markets. Our analysis provides both a high-level overview of the market, important to investors and others looking to understand overall superalloy market dynamics and trends, along with a bottom-up look across five specific superalloy markets. These are broken down by industry as follows:
- Aircraft jet engines — breakdowns for commercial cargo and passenger,
- Private business.
- Military — rotary and helicopter segments.
- Power generation — utility gas turbines, industrial gas turbines, steam turbines, nuclear reactors.
- Industrial processes — compression, chemical processing, waste processing, thermal processing.
- Oil and gas — subsea topsides, drilling and completion, compressor systems.
- Automotive — turbochargers, other engine equipment.

BCC Research’s analysis of the global market for superalloys anticipates solid growth in all the defined regions and market segments. As shown in the table and figure below, global sales during 2015 to 2016 increased from $5.2 billion to nearly $5.6 billion. Near-term and mid-term future growth will drive markets to almost $7.7 billion by 2021, for a compound annual growth rate (CAGR) of 6.6%, globally. Transportation applications for superalloys will be characterized by reliable growth, with markets in these segments collectively advancing from $3.2 billion in 2016 to $4.3 billion in 2021, at a CAGR of 5.7%. Meanwhile, growth in industrial and power generation applications, including the oil and gas segment, will advance from $2.3 billion in 2016 to $3.4 billion in 2021, exhibiting solid market development at 7.7%. BCC Research’s full report provides additional market breakdowns according to the categories and sub-segments listed above, along with additional breakdowns by superalloy type (i.e., nickel-based, cobalt-based and iron-based). Market analyses are also provided by region for North America, Europe, and Asia. Additional national level data for select major markets within these regions, including the U.S., Canada, Germany, France, Italy, Great Britain, the Rest of Europe, China, South Korea, Japan, and the Rest of Asia are also included.

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