Nickel Alloys Market: Key Growth Factors and Industry Analysis 2022

Nickel-containing materials assume a noteworthy part in our regular day to day existences – sustenance planning hardware, cell phones, restorative gear, transport, structures, and control era – the rundown is practically interminable. They are chosen in light of the fact that - contrasted and different materials - they offer better consumption resistance, better durability, better quality at high and low temperatures, and a scope of exceptional attractive and electronic properties.

Most critical are compounds of iron, nickel and chromium, of which stainless steels (as often as possible 8-12% nickel) are the biggest volume. Nickel based amalgams - like stainless steel however with higher nickel substance - are utilized for all the more requesting applications, for example, gas turbines and some synthetic plants.

As per the market research analysis by MarketsandMarkets, The nickel alloys market was estimated at USD 12.14 Billion in 2017 and is projected to reach USD 14.68 Billion by 2022, at a CAGR of 3.9% between 2017 and 2022. Increasing demand for nickel alloys from various end-use industries, such as aerospace & defense, oil & gas, chemical, pulp & paper, and energy is expected to drive the demand for nickel alloys during the forecast period.

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Among functions, the high performance alloys segment is projected to grow at the highest CAGR during the forecast period. High performance nickel alloys are designed to handle extreme corrosive and high pressure situations, and for this reason, this grade is widely used in the aerospace & defense industry and for oil & gas exploration activities. The growing oil & gas exploration activities along with the growing aerospace industry are expected to drive the growth of this segment during the forecast period.

The market research analysis categorizes the nickel alloys market based on functions, end-use industry, and region. It forecasts revenue as well as the trends in each of its submarkets.

The targeted regions for market analysis includes, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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What Makes Peristaltic Pumps Market A Million Dollar Industry?

A peristaltic pump is positive displacement pump that transfers a wide variety of fluids. This pump doesn’t have valves, seals and glands, it’s an inexpensive pump to maintain. Every peristaltic pump features flexible hoses or tubes, giving an open flow path which gives a high resistance to abrasion and permits the easy flow of solids and viscous media.  The working principle of a peristaltic pump is based on moving a product through a hose, by compressing and decompressing. The ‘shoes’ of the pump are fixed onto the rotor of the pump, which press the fluid through the pump. The working principle is similar to how our body pumps blood, nutrition and oxygen.

The peristaltic pumps market is projected to reach USD 467.5 Million by 2021, at a CAGR of 6.8% from 2016 to 2021. Peristaltic pumps are widely utilized in several end-use industries such as pharmaceuticals, water & wastewater treatment, mining, chemical processing, food & beverages, and pulp & paper. The increasing applicability of peristaltic pumps across these end-use industries is expected to drive the growth of the peristaltic pumps market in the near future.

Peristaltic Pumps

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Based on type, the peristaltic pumps market has been segmented into peristaltic tube pumps and peristaltic hose pumps. Peristaltic tube pumps are suitable for contamination-free pumping of shear sensitive fluids, viscous sludge or slurries, and aggressive acids and caustics. Furthermore, in peristaltic tubing pumps, the tube is the only material that is in contact with the fluid. The tube can be changed to avoid contamination, and the chemical compatibility of the pump can be tailored in accordance with the application for which these peristaltic tube pumps are used by changing the tubing material.

Slow industrialization in the North American and European regions and lack of Greenfield investments are factors anticipated to restraint the growth of the peristaltic pumps market. The Asia-Pacific region is projected to be the leading market for peristaltic pumps. Among all countries in the Asia-Pacific region, China is expected to be the fastest-growing market for peristaltic pumps during the forecast period. India, Japan, and South Korea are major countries contributing to the growth of the peristaltic pumps market in this region. The increasing demand for peristaltic pumps from varied end-use industries, such as pharmaceuticals, water & wastewater treatment, mining, and chemical processing is expected to drive the growth of the peristaltic pumps market in the Asia-Pacific region.