RNCOS has reported that the commercial aerospace sector will continue to be a very large consumer of nickel-based super-alloys over the next two decades.
The global demand for nickel is primarily driven by the rising production of stainless steel in emerging economies. The metal is used across every sector of industrial development, which is why the demand for nickel is expected to rise. According to a new report by RNCOS, “Global Nickel Market Outlook 2016,” the aerospace and aviation industries are rapidly growing and since they rely on nickel-based super-alloys for their ability to retain strength and resist metal fatigue in high temperatures, the metal is expected to gain market status. Also strong, lightweight, and aesthetic in appearance, nickel alloys are an excellent choice for the parts and components needed for aerospace and aviation operations.
The report details that nickel is extensively used in the aerospace industry in aircraft engines. Nickel alloys are also used especially for producing materials of special shapes. The major demand is expected to come from super-alloys (high performance alloys of nickel, cobalt, or nickel-iron with high temperature strength and corrosion/oxidation resistance), as the aerospace industry utilizes more than 50 percent of total super-alloys available in the world. The growing aerospace industry represents huge opportunity for nickel suppliers. Moreover, it is anticipated that global nickel consumption will grow around 9 percent during 2014-2016.