Titanium Alloys Market | Size, Opportunities, Sales Revenue, Emerging Technologies, Industry Growth and Regional Study by Forecast to 2023


Posted August 25, 2020 by Marketresearchfuture

Titanium Alloys Market | Size, Opportunities, Sales Revenue, Emerging Technologies, Industry Growth and Regional Study by Forecast to 2023
 
Market Insights:

The global titanium alloys market has been segmented by microstructure, end-use industry, and region.

On the basis of microstructure, the market has been segmented into alpha alloys, near alpha alloy, alpha beta alloy, and beta alloy. The alpha alloy segment accounted for the largest share of the market in 2017 and is expected to grow at a considerable rate during the review period. Alpha alloys possess the highest strength and oxidation resistance at elevated temperature and better weldability, among other titanium alloys. The most popular alpha alloy is Ti-5Al-2.5Sn, which is well known for creep strength and fracture toughness. It finds numerous applications in aerospace structures and engine components.

By end-use industry, the market has been segmented into aerospace, automotive, power and desalination, chemical, marine, and others. The aerospace segment accounted for the largest market share in 2017 owing to the growing demand for titanium alloys in the aerospace industry. Titanium alloys finds wide range applications in the fan blades of jet engines and as a bulkhead in Lockheed/Boeing F22 military aircraft. This is attributed to its excellent corrosion resistance and lightweight properties.

Industry Segmentation:

The global titanium alloys market has been segmented by microstructure, end-use industry, and region.

On the basis of microstructure, the market has been segmented into alpha alloy, near alpha alloy, alphabeta alloy, and beta alloy.

Based on end-use industry, the market has been segmented into aerospace, automotive, power and desalination, chemical, marine, and others.

By region, the market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Key Players

Arcam
ATI
Daido Steel Co., Ltd
United Titanium, Inc.
TOHO TITANIUM CO., LTD
Haynes International
Metalysis
TLS Technik
Global Titanium Inc.
OSAKA Titanium
ADMA Products, Inc.
 Intended Audience:

Titanium alloys manufacturers
Traders and distributors of elastomeric foam
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratories
Regional Analysis

Asia-Pacific accounted for the largest market share in 2017 due to the presence of many industries in developing nations, such as India, China, and ASEAN countries. Healthcare is the fastest growing end-use industry in the region owing to the increase in technological advances for usage of titanium alloys in equipment which offer superior properties such fire resistance, anti-corrosion, and fatigue strength.  

North America is a prominent market for titanium alloys owing to the increasing demand in the manufacturing industries. For instance, according to the Government of Canada, the aerospace product and parts manufacturing segment generated a net revenue of USD 2.3 billion in 2016 and is expected to grow substantially in the coming years. This is expected to fuel the demand for titanium alloys.

The European market for titanium alloys is expected to grow as a result of the rising demand from manufacturers of civil and military aircraft, helicopters, drones, aero-engines, and other systems and equipment, which is likely to propel the market growth.

The Latin American market is expected to grow at a significant rate during the review period, due to economic recovery in the region which is likely to have a positive effect on industrial growth in the region specifically in Brazil and Mexico. The market in the Middle East & Africa is likely to exhibit considerable growth in the coming years with the increasing applications of titanium alloys in the oil and gas industry as titanium possess high strength, anti-corrosive nature   which are the necessity for the most challenging oil & gas applications and environments such as exploration, production, and refining.

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Last Updated August 25, 2020