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 a wired coil shape and used mainly as a heating element. Due to its high resistance towards heat, this alloy finds its area of application in many places such as toaster and hair drying machines. It is also used in places like Laboratory, construction, advanced electronics, e-cigarettes, glassmaking, and sculpture are other applications.
Fatpos Global anticipates the Japan Nichrome Alloy Market to surpass USD Billion by 2030, which is valued at billion in 2019 at a compound annual growth rate of According to the report, 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. The characteristics of Nichrome, which make it useful in specialty products and enhanced technological advances, will fuel this market’s growth.
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Japan Nichrome Alloy Market: Key Players
- Tokyo Wire Works
- 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: Segments
Japan market has been segmented based on type, end-user, and by location. It has been further segmented by countries into the eastern, western, northern, and southern regions.
By Type (in %), Japan Nichrome Alloy Market, 2019
Heat Resistant Alloysdominated the market and accounted for the 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 several consumer applications such as hairdryer, hair straightener, kitchen toaster, etc. This is available in the form of the coil which can easily be molded in the desired shape depending upon the area of application. Heat resistant Nichrome is best suited for complex applications in the electricity sector, such as heat guns, characterized by its high-temperature strength and excellent workability. This is also widely used for electronic cigarettes and vaping applications.
By End-user vertical (in %), Japan Nichrome Alloy Market, 2019
Aerospace & Defense segment accounted for the global volume in 2019
Japan Nichrome Alloy Market is segmented by end-user vertical into Aerospace & Defense, Oil & Gas Industry, Automotive, Medical, And Others. In 2019, the Aerospace & Defense segment accounted for the maximum share in the overall Japan market. This is due to increasing defense budget allocation by the nation’s government and rapid growth in the aviation sector. Due to its resistance towards heat, it is used in an airplane’s engine.
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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. The characteristics of Nichrome, which make it useful in specialty products and enhanced technological advances, will fuel this market’s growth.
- 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.
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Japan Nichrome Alloy Market report also contains analysis on:
Japan Nichrome Alloy Market Segments:
- By source:
- Rice milk,
- Almond milk
- Soy milk
- Coconut milk
- ByDistribution Channel:
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