Aerospace Nickel Demand Rises

The commercial aerospace sector will continue to be the largest consumer of nickel-based superalloys for at least another two decades, according to a statement from consulting firm RNCOS.

The nickel industry around the world is experiencing tremendous growth in nickel demand. In the global market, the demand for nickel has increased, mainly driven by the growth in stainless steel production in developing countries. Stainless steel is used in almost all sectors of the industry and hence the demand for nickel will grow.

According to the RNCOS Global Nickel Market Outlook 2016, the aviation and aerospace industries are growing rapidly, and these industries rely on nickel-based superalloys for their ability to retain strength as well as metal fatigue resistance at very high temperatures. Strength, low weight, and aesthetic appearance make nickel alloys in demand in all industries, especially in aerospace and aviation.

The RNCOS report clarifies that nickel-based alloys are widely used in the aerospace industry, mainly in aircraft engines. Nickel alloys are used for the production of specially shaped components. The increase in demand is mainly expected for superalloys, which are made from nickel, cobalt or nickel-iron, which are resistant to high temperatures and corrosion.

The aerospace industry consumes nearly 50 percent of the total super-alloy production. Growth in the aerospace industry symbolizes great opportunity for nickel-based manufacturers. Nickel consumption is projected to increase by 9 percent between 2014 and 2016.