Copper-Nickel Alloys Market Research Report and Outlook by 2028

The market for copper-nickel alloys is anticipated to expand from US$ 4,282.62 million in 2022 to US$ 5,989.37 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.7% during this period.

Copper-nickel alloys are created by blending copper and nickel, with the inclusion of less than 0.5% of other metals. The proportions of copper and nickel in these alloys can vary, with copper content typically ranging from 60% to 90%. After the alloy formation, a fabrication process follows to create the final products.

The copper-nickel alloys market is experiencing steady growth, driven by rising demand from various sectors, including marine, oil and gas, automotive, and aerospace industries. These alloys are essential in manufacturing cargo tank heating coils and feed lines for desalination facilities. Their notable resistance to corrosion and excellent fabricability are key characteristics that make copper-nickel alloys suitable for use in heat exchangers and condenser tubes across diverse marine applications. Additionally, copper-nickel pipes and components are integral to steam turbine condensers, oil coolers, auxiliary cooling systems, and high-pressure pre-heaters utilized in nuclear power plants. The antimicrobial properties of these alloys also make them a preferred choice for coinage. Their high strength, good ductility, and resistance to corrosion further establish them as a favored material in aircraft engineering and the production of aerospace components.

In 2021, the Asia Pacific region dominated the global copper-nickel alloys market. The growth in this area can be attributed to the increasing demand for these alloys across various industrial applications, fueled by a robust industrial sector. Major economies in the region, including Japan, China, South Korea, and India, are significant consumers of copper-nickel alloys. The International Energy Agency projects that the installed electricity-generating capacity in the region will grow by approximately 7% annually, reaching 6,113 GW by 2030, up from 3,386 GW in 2019. Furthermore, investments in renewable energy production in the region are expected to reach US$ 1.3 trillion annually by 2030. Copper-nickel alloys are applicable in steam turbine condensers, oil coolers, auxiliary cooling systems, and high-pressure preheaters used in thermal, nuclear, and fossil fuel power plants. Consequently, the anticipated increase in renewable energy investments is likely to enhance the demand for copper-nickel alloys in the Asia Pacific region in the years ahead.

Key players in the global copper-nickel alloys market include 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. These companies are focusing on strategies such as investing in research and development and launching new products. Such strategic initiatives by leading market participants are expected to further propel market growth in the future.

The overall size of the copper-nickel alloys market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the copper-nickel alloys sector.