Global Nickel Aluminum Bronze Market Size will Reach $149.32 Million in 2023

Global Nickel Aluminum Bronze Market Overview

According to Global Market Monitor, the global nickel-aluminum bronze market size will reach $149.32 million in 2023 with a CAGR of 5.83% from 2023 to 2028.

Nickel-aluminum Bronze is Widely Used and Raw Material Price Fluctuations Affect the Market Development.

Aluminum bronze alloys are widely used due to their high strength, excellent corrosion resistance, and wear resistance. In practical application, to meet different needs, a certain amount of manganese, iron, nickel, zinc, and other elements are often added to aluminum bronze to improve the performance of the alloy. Nickel-aluminum bronze is aluminum bronze with nickel, iron, and manganese as the main elements. Because it has excellent corrosion resistance, nickel-aluminum bronze is suitable for important materials of ship propellers and pumps, valves, and launching fasteners. With the development of the industry, nickel-aluminum bronze has been widely used in marine, aviation, oil, and gas industries.

As the main raw materials of nickel-aluminum bronze are copper, aluminum, iron, nickel, and other metals, the prices of these materials largely depend on global price trends, national supplements, policy changes, etc. Therefore, fluctuations in the price of these materials may have an impact on their costs, thereby limiting market growth.

The Marine Industry is the Major Application.

By application, the marine industry segment occupied the biggest share in 2022.Nickel-aluminum bronze is widely used for ship valves and propellers, among other marine applications. A large portion of the global maritime fleet is dedicated to energy transportation via tankers or liquefied natural gas (LNG), petroleum, chemicals, and liquid commodities. There are currently more than 4,000 bulk tankers in use worldwide. Other offshore fleets include barges, refrigerated vessels, roller coasters, ferries, cruise ships, and telecommunications and oil and gas industrial vessels. Therefore, the booming development of the maritime industry has promoted the demand for nickel-aluminum bronze.

Europe Dominates the Market.

Europe was the largest nickel-aluminium bronze market with a market share of 38.95% in 2022 due to a large number of downstream enterprises, developed technology, product innovation ability, and booming marine transport. However, high labor costs in Europe and the threat of competition from North America may affect further expansion of the market.

By Type	Nickel Aluminum Bronze Plate and Sheet
	Nickel Aluminum Bronze Bar
By Application	Aerospace Industry
	Marine Industry
	Oil and Gas Industry
	Others
	The marine industry segment occupied the biggest share in 2022.
By Region	United States
	Europe
	China
	Japan
	Middle East & Africa
	India
	South America
	Europe was the largest nickel-aluminium bronze market with a market share of 38.95% in 2022.

For more industry information, please refer to our latest released "China Nickel Aluminum Bronze Industry Market Research Report 2023-2029".