Market 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 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.
Regional Analysis
Asia-Pacific accounted for the
largest market share in 2017 due to the presence of a large number of
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.
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
Ø Arcam
Ø ATI
Ø Daido
Steel Co., Ltd
Ø United
Titanium, Inc.
Ø TOHO
TITANIUM CO., LTD
Ø Haynes
International
Ø Metalysis
Ø TLS
Technik
Ø Global
Titanium Inc.
Ø OSAKA
Titanium
Ø 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
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