Japan Nichrome Alloy Market; By End User Vertical (Aerospace & Defense, Oil & Gas Industry, Automotive, Medical, And Other); By Type (Corrosion Resistant Alloys, High-Performance Alloys, Electronic Alloys, and Heat Resistant Alloys); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Alloy of the nichrome is generally a composition of nickel, chromium, and iron. Nichrome is a heat resistant alloy and typically contains nickel at 80% and chromium at 20% by weight. There are different other metal types made of different percentages of composition, depending on the application. Nichrome is silvery colored grey and has an approximately 1400-degree Celsius melting point. Additionally, to strength, ductility, oxidation resistance, and high-temperature stability, Nichrome alloy also has low production costs. It is typically in wired coils shape and used mainly as a heating element.
This report anticipates the Japan Nichrome Alloy Market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. According to the report, the demand for nichrome in the aviation and electronics sectors will help this market expand.
Japan Nichrome Alloy Market: Segments
Japan market has been segmented on the basis of type, end user, and by location. It has been further segmented by countries into eastern, western, northern and southern region.
By Type (in %), Japan Nichrome Alloy Market, 2019
Heat Resistant Alloys dominated the market and accounted for largest market share in 2019
Japan Nichrome Alloy Market is segmented by type into: Corrosion Resistant Alloys, High-Performance Alloys, Electronic Alloys, and Heat Resistant Alloys.
Heat resistant Nichrome Alloy accounted for the maximum share of the Country volume owing to its properties such as heat resistance, high strength, ductility, which makes it applicable in number of consumer application such as hair dryer, hair straightener, kitchen toaster, etc. This is available in the form of coil which can easily be molded in the desired shape depending upon the area of application.
Japan Nichrome Alloy Market: Market Dynamics
• Application in Electronic Industry
The demand for nichrome in the aviation and electronics sectors will help this market expand. It is used as a heating element for many electronic goods as well as in industrial applications including model rocket ignition, fire testing, hot-wire foam cutters, because of its high-temperature strength and its strong flexibility.
• Availability of Substitutes and Lack of Technology
The factor restraining the market growth is the availability of substitute alloys which are comparatively cheaper and provide better ductile strength. Moreover, key players prefer other substitutes in the electronic and aerospace industry thus hindering the market growth.
Japan Nichrome Alloy Market: Regions
Based on region the Japan Nichrome Alloy Market is segmented into Eastern Japan, Northern Japan, Western Japan and Southern Japan. The regional growth is anticipated owing to rising agricultural activities which demand for cost effective and sustainable products like nichrome pipes for irrigation and other activities. Moreover, increasing number of housing application such as hair dryer, toasters, heaters etc has created lucrative market opportunities for the key players. Japan’s market growth is further extended by the increased nation’s expenditure on aerospace and defense. Due to its high tensile strength, non corrosion property and its resistance towards heat it is used in airplane engine, thus with the rise in airplane sector the demand for such alloys increases.
The region segment can be further divided into five major types including Eastern Japan, Northern Japan, Western Japan and Southern Japan.
Japan Nichrome Alloy Market: Competitive landscape
The focus of the markets is on growing their share by means of mergers and acquisition. In order to broaden their market range by creating cost effectively-efficient products with improved properties, industry leaders concentrate on research and development activities. Therefore, manufacturers plan to increase their production capacity in order to meet the growing demand for goods. The key players are spread across the globe and prefer to carry out their activities through joint ventures.
Japan Nichrome Alloy Market: Key Players
• Tokyo Wire Works
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Tomoe Engineering Co., Ltd.
• Tokyo Resistance Wire
• Sumitomo Electric Industrial Wire & Cable Inc.
• Tokai carbon
• Asahi Seiren Co.,Ltd.
• HARITA METAL Co.,Ltd.
• Other prominent players
Japan Nichrome Alloy Market report also contains analysis on:
• Japan Nichrome Alloy Market Dynamics
• Japan Nichrome Alloy Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints