Market Segmentation:
The global titanium
alloys market has been segmented by microstructure, end-use industry, and
region.
Based on 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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