The copper-nickel alloys market was valued at US$ 4,282.62 million in 2022; registering at a CAGR of 5.7% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Widespread Applications of Copper-Nickel Alloys Boost Copper-Nickel Alloys Market Growth
The report highlights key factors driving the market and prominent players along with their developments in the market.
Copper-nickel alloys usually come in two varieties: Cu-Ni (90-10) and Cu-Ni (70-30). The Cu-Ni (70-30) alloy is stronger and has a greater resistance to corrosion (caused by exposure to seawater) and macrofouling than Cu-Ni (70-30). However, Cu-Ni (90-10) is more affordable than Cu-Ni (70-30) and has a better service life in many end-use applications. Copper-nickel alloys are experiencing strong demand in the marine, chemical processing, power generation, and oil & gas industries, which is primarily driving the market growth.
Copper-Nickel Alloys Market Breakdown – by Region
Copper-Nickel Alloys Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Rods & Bars, Wires, Tubes, and Others) and Application (Chemical Processing, Marine, Power Generation, Oil & Gas, Automotive & Aerospace, and Others)
Copper-Nickel Alloys Market Size, Share| Statistics Report 2028
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Copper-nickel alloys are used in various industries, including shipbuilding, oil & gas, aerospace, automotive, paper & pulp, and food & beverages. In the marine industry, the alloys are used to fabricate components and pipe fittings for ships and seagoing vessels. Piping systems, valves, and pumps used in the offshore oil & gas industry are typically made of Cu-Ni (90-10) alloy as it offers excellent resistance to corrosion and macrofouling, alongside enabling good weldability. Legs and risers of offshore oil & gas platforms made of steel are prone to high corrosion caused by aerated sea spray, waves, and tidal actions.
Corrotherm International Ltd, Fisk Alloy Inc, Lebronze Alloys SAS, Materion Corp, Aesteiron Steels LLP, Columbia Metals Ltd, American Elements Inc, Hexion Steel Ltd, Aviva Metals Inc, and Kalikund Steel and Engg Co are among the major players operating in the global copper-nickel alloys market. Companies in this market are highly focused on developing high-quality and innovative product offerings to fulfill the customers’ requirements.
Impact of COVID-19 Pandemic on Copper-Nickel Alloys Market
Many industries, including consumer goods, faced unprecedented challenges due to disruptions caused by the COVID-19 pandemic in the global supply chain, which adversely affected the manufacturing, delivery schedules, and sales of various goods. Many production sites were either operating at partial capacities or were kept completely closed to curb the spread of SARS-CoV-2 in 2020. The COVID-19 pandemic also caused fluctuations in the prices of copper-nickel alloys. However, as the economies started reviving with the resumption of operations in different sectors (including industrial and commercial), the demand for various industrial raw materials such as copper-nickel alloys also began to rise globally.
The report includes the segmentation of the global copper-nickel alloys market as follows:
The copper-nickel alloys market, by product type, is segmented into rods & bars, wires, tubes, and others. In terms of application, the market is segmented into chemical processing, marine, power generation, oil & gas, automotive & aerospace, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The copper-nickel alloys market in North America is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific copper-nickel alloys market is divided into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The South & Central America market is segmented into Brazil, Argentina, and the Rest of South & Central America.
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