$7.8 Billion Worldwide Superalloys Industry to 2027 – Featuring Allegheny Technologies, AMG Superalloys, Cannon-Muskegon and Haynes International Among Others – QNT Press Release

DUBLIN, Sept. 22, 2022 /PRNewswire/ — The “Superalloys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global superalloys market size reached US$ 5.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 7.8 Billion by 2027, exhibiting a CAGR of 6.32% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Superalloys are non-ferrous alloys with excellent heat-resistant properties, which retain their stiffness, strength, toughness, and surface stability at extreme temperatures. They are produced through two-phase heat treatment, including vacuum induction melting, investment casting, powder metallurgy, and secondary melting, such as vacuum arc re-melting or electro slag re-melting.

They exhibit good mechanical strength, creep resistance and can withstand oxidation and corrosion when used at elevated temperatures in commercial and military jet engines. As a result, superalloys are extensively used in the chemical and petrochemical, aerospace, and oil and gas industries. They also find application in auxiliary power units, power turbines, defense systems, and locomotive engines.

A significant rise in the aviation industry, along with the increasing utilization of superalloys in manufacturing jet engines, represents one of the key factors positively influencing the market. It can also be attributed to the rising traction of superalloys on account of their operational efficiency and minimal environmental emissions.

Apart from this, the escalating demand for passenger and commercial automobiles with robust engines across the globe is driving the market. The expanding use of high-performance alloys in turbochargers, exhaust valves, ignition prechamber, exhaust gas cleaner fasteners, and nozzles of vehicles is also offering a favorable market outlook.

Furthermore, the increasing energy crisis …

Full story available on Benzinga.com

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