The latest market report published by Credence Research, Inc. “Global MCrAlY Alloy Powder Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 51 million in 2020 and expected to reach a healthy CAGR of over 2.2% during the forecast period from 2021 to 2027 to reach around USD 58 million in 2027.
Browse the full report at https://www.credenceresearch.com/report/mcraiy-alloy-powder-market
The reliability and performance of extremely stressed turbine parts are dependent on MCrAlY coatings. The M stands for the based metal in MCrAlY, which is alloyed with aluminum, yttrium and chromium. The base metal is normally nickel, cobalt, or a mixture of the two. Nickel and cobalt are generally used as a foundation for the undercoating in order to develop the metallic intermediate layer ductile. Coatings are protected from oxidation with help of robust oxide layer formed by aluminum and chromium. This oxide layer’s bonding is improved with yttrium.
Key Trends in Global Market
Demand for Ni-Based Alloy in the Market
Nickel alloys have found use in a wide range of high-performance applications in several industries and consumer markets around the world. Nickel alloys are in high demand in a variety of applications that require heat resistance and high corrosion, most notably in the oil and gas market. The need for these alloys stems from their distinct physical and chemical properties.
However, the rising rate of raw materials used to make nickel alloys is the market’s main disadvantage. High strength, improved resistivity, and high tensile strength are certain characteristics that make nickel alloys more useful in applications. Nickel-titanium alloys, nickel-aluminum alloys, and nickel-chromium alloys are among the most well-known nickel alloys used in industrial applications.
Global Market by Type Insights
On the basis of type, the global market can be divided into Co-Based, Ni-Based and Fe-Based MCrAlY Alloy Powder. In 2020, Ni-Based segment topped the market share. This owes to high adoption rate of nickel alloys in oil and gas industry to safeguard parts, decrease downtime and enhance corrosion resistance and part life. Exploration and development in the oil and gas industry are often carried out in harsh conditions, requiring a complex collection of costly equipment that wears out quickly.
Ni-Based MCrAlY Alloy Powder Segment to Dominate the global market
Global Market by Applications Insights
Global market is segmented based on Applications as Industrial Application and Aviation Application. Aviation application has higher application so it dominated the market with highest share. For instance, well-known manufacturers of aircrafts like Airbus and Boeing are expanding their production capacity to meet the increasing demand from defence and commercial aircrafts. Aircraft parts like aero engines and turbines need thermal barrier coating for improved performance and higher efficiency. This has boosted the demand for global market at aviation end.
Global Market by Regional Insights
North America led the global market. Increasing personal disposable income, growing modernization and urbanization, and rising demand from different end-use industries, like aerospace, have contributed in this development.
The demand for MCrAIY alloy powder is also anticipated to boost owing to the readiness of raw materials in the area. The United States is expected to be the region’s main contributor to the thermal spray coatings industry. During the forecast period, the Asia Pacific area is projected to have the highest CAGR.
Global Market Competitive Landscape
Some of the most prominent players operating in the global market include Praxair, Powder Alloy Corporation, Oerlikon Metco, Metal Powder and Process, H.C. Starck and Sandvik and among others.
Global MCrAlY Alloy Powder Market by Type, 2015 – 2027
· Ni-Based MCrAlY Alloy Powder
· Co-Based MCrAlY Alloy Powder
· Fe-Based MCrAlY Alloy Powder
Global MCrAlY Alloy Powder Market by Applications, 2015 – 2027
· Industrial Application
· Aviation Application
Global MCrAlY Alloy Powder Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global MCrAlY Alloy Powder Market: Key Players
· Powder Alloy Corporation
· H.C. Starck
· Oerlikon Metco
Metal Powder and Process