Press Releases

Superalloys Moving into New Industries, Driving Solid Growth (6.6% CAGR)

August 01, 2017

Additional Reports

Wellesley, Mass., Aug 01, 2017 – Advances in industrial production and in automotive technologies, along with increasing investment by the power generation and air travel industries, are driving markets for advanced superalloys and new cooling designs. According to Superalloys: Technologies, Applications, and Global Markets, the global superalloy market is expected to grow from nearly $5.6 billion in 2016 to $7.7 billion by 2021, with a 6.6% CAGR.

The new BCC Research report also predicts that reliable growth will characterize transportation applications for superalloys, with those markets 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%.

Superalloys are widely applicable across several industries. Primarily, in terms of market share, they are a critical enabler of jet engine technology in the aerospace industry. These turbine related technologies transferred over into gas turbine based power generation. Power generation using steam turbines is another power-related application, one that preceded gas turbines, but that also relies on superalloys. Other applications include mechanical applications for gas turbines (primarily compressors), as well as other industrial applications, automotive applications, and applications in the oil and gas industry

Research Highlights

  • Superalloys have exceptional strength and the ability to maintain it under very high heat, a key property among many that are driving its success as an alloy category.
  • Superalloys are expanding in new industries, outside of their historic markets in aerospace and power generation. These include industrial applications, oil and gas extraction, and automotive application.
  • Cheap natural gas in North America has supported superalloy growth in that region through demand for new power generation turbines, oil and gas equipment, and industrial equipment.

"Research and development of new superalloys and associated materials also are among key drivers," says Robert Eckard,BCC Research analyst who authored the report. "Emerging superalloys that may become commercially viable within the next five years are summarized but not included in the market assessment of this report."

Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.

Superalloys: Technologies, Applications, and Global Markets( AVM142A )
Publish Date: Jun 2017    

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, Telephone: 866-285-7215; Email: editorial@bccresearch.com as the source and publisher. Thank you.