Market Overview:
Titanium is a chemical element as
well as a transition metal. It has silver color, low density, high strength,
and high corrosion resistance. The ingredients of titanium alloys include
titanium and other chemical elements with high tensile strength as well as
toughness. A new report on the global titanium alloys market, published by
Market Research Future (MRFR), predicts that this market could witness growth
between 2016 and 2023.
Get Free Sample Now@ https://www.marketresearchfuture.com/sample_request/6727
The biggest market driver for the
global titanium alloys market growth is the ability of titanium alloys to
withstand extreme temperatures. Being lightweight, they are easy to carry.
Titanium alloys have fuel efficiency. Due to their low thermal expansion and
fire resistance, they can be used in numerous applications in various end-use
industries. The growing aerospace industry in emerging economies can aid the
market growth as pure titanium and titanium alloys. Products like Ti-6Al-4V are
increasingly used for building airframe and the engine parts. In ocean
engineering, the titanium alloys are used for making valves & pipes,
desalination pipes, and offshore oil drilling pumps. In the medical sector,
titanium alloys are used to join human bone due to its anti-corrosion and
biocompatible properties. They are also used for manufacturing dental titanium,
orthopedic titanium rods, pins & plates, and surgical titanium instruments.
Development of low-cost, high strength titanium alloys can boost market growth.
However, some factors likely to
hinder the market growth and expensive upstream extraction and multistage
processing route could be major deterrents.
Key Players
·
ADMA
Products, Inc.
·
Arcam
(UK), ATI
·
Daido
Steel Co. Ltd
·
Global
Titanium Inc.
·
Haynes
International
·
Metalysis
·
Osaka
Titanium Technologies Co. Ltd
·
TLS
Technik
·
TOHO
TITANIUM CO. LTD
·
United
Titanium Inc.
Market Segmentation
The Global
Titanium Alloys Market segmentation encompasses end-use industry and
microstructure. MRFR’s take on the market explores various facets of the market
in-depth.
Based on end-use industry, this
market has been segmented into aerospace, automotive, chemical, marine, power
& desalination, and others. Regarding microstructure, the market has been
segmented into the alpha alloy, near alpha alloy, alpha-beta alloy, and beta
alloy.
Regional Segmentation
A geographical outlining of the
global titanium alloys market covers Asia Pacific, Europe, North America, Latin
America, and the Middle East & Africa (MEA).
Asia Pacific region holds the
largest market share due to the presence of many industries in developing
countries like China, India, Indonesia, Laos, Malaysia, Myanmar, Philippines,
Singapore, Thailand, and Vietnam. The second factor aiding market growth is
government support for small, micro, and medium enterprises. Healthcare is the
fastest-growing end-use industry in this region due to an increase in
technological advances for using titanium alloys in equipment that offer
superior properties such as anti-corrosion, fire resistance, and fatigue
strength. Major key players in the Asia Pacific region are based in Japan. Other important country-specific markets in
this region are Australia and New Zealand.
North America is another
prominent regional market due to the growing aerospace industry, consumer goods
industry, and the medical industry. The demand, as well as use of titanium, is
increasing due to its superior qualities that include biocompatibility,
increased fatigue strength, and increased lubricity. In this region, important
market players are based in the USA and Canada is the second major
country-specific market in North America.
In Europe, the market is rising
due to the rising demand for titanium from manufacturers of civil &
military aircraft, aero-engines, drones, helicopters, and other systems &
equipment. During the forecast period, the biggest scope for market growth in
this region lies in Austria, Germany, Ireland, Luxembourg, and the Netherlands.
Other vital country-specific markets in this region are France, Italy, Poland,
Russia, Spain, and the UK.
During the forecast period, the
market in Latin America is expected to increase due to growing end-use
industries and economic recovery in this region, with Brazil and Mexico
emerging as strongest country-specific markets. Argentina is another important
country-specific market in this region.
In the MEA region, the market for
titanium alloys is growing more in the Middle East segment, compared to the
African segment, primarily due to the same reasons as in Latin America.
However, compared to Latin America, the Middle East has a lesser number of
skilled professionals. Therefore, market growth is slow.
Latest Industry News
·
In India, the Hyderabad-based alloy manufacturer
Mishra Dhatu Nigam supplied titanium alloys and Ultra High Strength Steel (UHSS)
for the Chandrayaan-2 mission. 24 JUL
2019
Browse key industry insights spread across 100 pages with
data tables and figures of the report “Titanium Alloys Market Research
Report by Microstructure (Alpha Alloy, Near Alpha Alloy, Alpha Beta Alloy, and
Beta Alloy), End-Use Industry (Aerospace, Automotive, Power and Desalination,
Chemical, Marine and Others), by Region—Global Forecast till 2023” in
detail along with the table of contents@ https://www.marketresearchfuture.com/reports/titanium-alloys-market-6727
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