Frost & Sullivan’s recent analysis, Growth Opportunities for Superalloys, finds that the industry is expanding at a rapid pace. Superalloys’ increasing application in sectors such as industrial gas turbines, aerospace, heat exchangers, oil and gas, and chemical processing industries is pushing demand. Among all three types of superalloys—nickel-based, cobalt-based, and iron-based—nickel-based superalloy is likely to have the largest commercial product portfolio because of its high strength and ability to operate under extreme temperatures.
The demand for superalloys is expected to increase in industrial gas turbine applications in the coming years because of the growing need for high-performance materials that can function at extreme operating temperatures in the combustion chamber.
The rising demand for high thermal protection, surface stability, and materials with mechanical strength for the manufacturing of next-generation aircraft offers high-growth opportunities for superalloys.
The marine industry is expected to boost demand in the future due to the rising need for anticorrosive metallic material for the manufacturing of power generation engines, fasteners, and springs.
The use of superalloys is also estimated to grow as they are extensively used in the manufacturing of high-temperature utilities in the chemical processing space.
