What Has Been The Evolution of the Superalloy Melting Equipment Market in Recent Years?
The superalloy melting equipment market has seen considerable growth due to a variety of factors.
• The market for superalloy melting equipment has seen robust growth in past years. Its size is set to increase from $1.05 billion in 2024 to $1.12 billion in 2025, predicting a compound annual growth rate (CAGR) of 6.8%.
This historical growth surge is credited to the expansion in the aerospace sector, greater need for high-quality materials for power production, progression within the automotive industry, an increased requirement for corrosion-resistant materials within the chemical sector, and a wider range of applications within the oil and gas sector.
How Will the Superalloy Melting Equipment Market?
The superalloy melting equipment market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the superalloy melting equipment market is predicted to experience robust growth. This growth is estimated to reach a value of $1.44 billion by 2029, with a compound annual growth rate (CAGR) of 6.5%.
The growth during this period can be attributed to factors such as an increased demand from the aerospace and defense sectors, expansion of the automotive and power generation industries, the increasing focus on lightweight yet high-performance materials, a surge in research and development activities, broader uses in the healthcare sector, and rising environmental policies advocating sustainable practices. Upcoming trends for this forecast period include the integration of automation and AI, the uptake of environmentally friendly practices, improvements in melting processes, enhancements in quality control procedures, and progress in remote monitoring capabilities.
Which Factors Are Boosting Growth In The Superalloy Melting Equipment Market?
The growth of the superalloy melting equipment market is projected to be driven by an increase in aircraft deliveries. The surge in aircraft deliveries is a result of a growing need for air travel, fleet expansion, and the replacement of older aircraft with newer, more economical models. Superalloy melting equipment is utilised in aircraft deliveries to create high-performance components that can endure extreme aerospace application conditions. As an example, the International Civil Aviation Organization (ICAO), a UN agency based in Canada, reported in February 2023 that major airplane manufacturers Airbus and Boeing experienced a 53% upsurge in orders and a 20% increase in deliveries in 2022 compared to 2021. Thus, the rise in aircraft deliveries is fuelling the expansion of the superalloy melting equipment market.
What Key Areas Define The Segmentation Of The Global Superalloy Melting Equipment Market?
The superalloy melting equipmentmarket covered in this report is segmented –
1) By Type: Benchtop Hot-Melt Equipment, Glue Guns
2) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
3) By Application: Commercial, Industrial
Subsegments:
1) Benchtop Hot-Melt Equipment: Manual Benchtop Hot-Melt Equipment, Automatic Benchtop Hot-Melt Equipment
2) Glue Guns: Standard Glue Guns, High-Temperature Glue Guns
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Which Emerging Market Trends Are Altering The Superalloy Melting Equipment Industry?
Key players in the superalloy melting equipment market are focusing on adopting new melting methods such as investment casting to improve the durability and quality of their products. Investment casting, also known as lost-wax casting, is a sophisticated manufacturing process used for creating complex metal components. It includes making a wax prototype, enveloping it with ceramic to make a mold, and then melting out the wax. For example, Impro Precision Industries Limited, a machinery company based in Hong Kong, grew its superalloy investment casting abilities in November 2022, expanding the nominal weight per piece from 30 kilograms to 115 kilograms. This growth was made possible by installing cutting-edge, three-chamber vacuum induction melting (VIM) furnace at their Wuxi center in China. This furnace is specifically designed to manage the melting and pouring of superalloys in vacuum conditions. This state-of-the-art equipment allows for the development of bigger and more intricate superalloy parts, boosting the overall quality and effectiveness of the casting process.
Who Are the Key Players In The Superalloy Melting Equipment Market?
Major companies operating in the superalloy melting equipment market are:
• Thyssenkrupp AG
• Henkel AG & Co. KGaA
• Precision Castparts Corp.
• Allegheny Technologies Incorporated
• SMS Group GmbH
• Nordson Corporation
• Graco Inc.
• Carpenter Technology Corporation
• Nippon Yakin Kogyo Co. Ltd.
• VDM Metals Group
• Kurtz Holding GmbH & Co. Beteiligungs KG
• Valco Cincinnati Inc.
• SECO/WARWICK Group
• Plansee Group
• Nabertherm GmbH
• ABP Induction Systems
• Robatech AG
• ALD Vacuum Technologies
• Hitachi Industrial Equipment & Solutions America LLC
• Inductotherm Group LLC
• TAV Vacuum Furnaces
• MTI corporation
• Glue Machinery Corporation
What Is The Most Dominant Region In The Superalloy Melting Equipment Market?
Asia-Pacific was the largest region in the superalloy melting equipment market in 2024. The regions covered in the superalloy melting equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
