Procurement Intelligence on Inconel: Price Dynamics, Market Trends, and Forecasts

Table of Contents

In 2023, the price trends of Inconel varied in different regions. In Asia, a mixed trend was observed due to production disruptions during the Chinese Lunar new year holidays, followed by a positive influence from rising raw material prices, but later declined due to reduced demand from certain sectors. In Europe, Inconel prices rose due to increased demand for raw materials and optimistic market sentiments. In North America, prices remained stable, affected by falling spot premiums, fluctuating raw material costs, and stagnant purchasing potential, further pressured by rising interest rates.

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Definition

Inconel is a family of nickel-chromium-based superalloys known for their excellent high-temperature strength, corrosion resistance, and mechanical properties. These alloys typically contain significant amounts of nickel, chromium, and other elements like iron, molybdenum, and niobium. Inconel is widely used in aerospace, gas turbines, chemical processing, and other applications where resistance to extreme temperatures, oxidation, and corrosion is crucial.

Key Details About the Inconel Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Inconel in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.

The Inconel Price chart, including India Inconel price, USA Inconel price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting the Inconel Price Trend:

Inconel’s remarkable properties make it highly valuable for a wide range of industrial applications. It is extensively used in the aerospace industry for manufacturing aircraft engine components, turbine blades, and exhaust systems, owing to its high-temperature strength and resistance to thermal fatigue. In the gas turbine and power generation sector, Inconel is employed in critical components like turbine discs, casings, and seals, where it can withstand extreme temperatures and mechanical stress. In chemical processing, Inconel’s corrosion resistance is utilized in equipment such as heat exchangers, reactors, and valves. Additionally, it finds application in the oil and gas industry, petrochemicals, nuclear reactors, and various high-performance applications in demanding industrial environments.

Key Players:

  • JLC Electromagnet Pvt. Ltd
  • Wanlutong Metal Group
  • VDM Metals Group
  • ATI
  • Nippon Steel Corporation
  • Sumitomo Corporation
  • Haynes International
  • HY Industry

News and Recent Development:

  • 3D printing via Inconel to strengthen a key material in aerospace, energy-generation applications: The strategy starts with Inconel 718, a popular “superalloy,” or metal, that can survive harsh conditions like temperatures of 700 degrees Celsius. Ceramic nanowires are added to commercial Inconel 718 powders during the milling process, which results in the homogeneous decoration of nano-ceramics on the surfaces of Inconel particles. (19 May 2023)

About Us:

Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.

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