Nickel Base Alloy Market - Forecast (2021 - 2026)
Nickel base alloy market size is forecast to reach $5,114.6 million by 2026, after growing at a CAGR of 2.6% during 2021-2026, owing to the increasing usage of nickel base alloy in various end-use industries such as automotive, aerospace, oil & gas, power plants, electronics, and more. Nickel base alloys have excellent characteristics such as corrosion resistant, strength, toughness, metallurgical stability, high-temperature strength, fabricability, weldability, and these properties are expected to increase the market demand for electronic alloys. The rapid growth of the oil & gas industry has increased the demand for nickel base superalloy, nickel base corrosion-resistant alloy, and nickel base shape memory alloy; thereby, fueling the market growth. Furthermore, the flourishing aerospace & defense industry is also expected to drive the nickel base alloy industry substantially during the forecast period. COVID-19 Impact Due to the Covid-19 outbreak, the nickel ...