Titanium Alloys Market: By microstructure (Alpha alloy, Near Alpha Alloy, Alphabeta alloy, Beta alloy) and by end-user Industries (Aerospace, Automotives, Power, Desalination, Chemical, Marine, Others) - Forecast 2027

ID: VPR/CR/1268 Publishing Year: November 2021 Pages: 145 Format:   


Titanium Alloys Market Overview:

Global Titanium Alloys Market was valued at $ 45.91 billion in 2020 and is expected to reach $ 61.45 billion by 2027, registering a CAGR of 4.25% from 2021 to 2027.

For many years, titanium and its alloys have been utilised in the aircraft sector. The formula Ti-6Al-4V is used to denote commercially manufactured pure titanium and titanium alloys throughout the world. These are mainly utilised in the production of aviation engine components and airframes. Aviation gasoline is quickly used by aircraft engines. The weight of the aeroplane and its engine should be kept low to minimise fuel consumption. As a result, titanium and its alloys are utilised in aeroplanes to reduce weight and fuel consumption. Commercial aeroplane production requires cutting-edge technology and stringent quality control procedures. Pure titanium, which is readily accessible commercially, is extensively utilised as a building material in aircraft and its components due to its low weight. It also has strong tensile and compressive strengths, as well as good corrosion resistance. The use of reinforced titanium alloys in aircraft engines and mainframes has significantly decreased aircraft fuel consumption, which is one of the primary reasons for the increasing demand for titanium and related alloys in the aerospace sector.

Titanium alloys have a unique mix of mechanical and physical characteristics, making them ideal for applications in the aerospace, chemical, medical, and energy sectors. Titanium alloys are also widely used in the maritime sector. These alloys are used to make equipment and vehicles that ply and scour the ocean bottom. Desalination pipes, pumps, and pipelines for offshore drilling are all made of titanium alloys. Titanium is very important and helpful in the medical sector since it does not rust or corrode easily. It is also very capable of fusing with human bone. This is why titanium alloys are rapidly being used to manufacture surgical tools, rods, pins, plates, and dental equipment by medical businesses.

Key Players:

  • AMG Advanced Metallurgical Group NV
  • ATI
  • Baoji Titanium Industry Co. Ltd
  • CRS Holdings Inc.
  • CORSNET CORPORATION
  • ARKAM UK
  • HAYNES INTERNATIONAL
  • Hermith GmbH
  • NIPPON STEEL CORPORATION
  • OSAKA Titanium Japan

Segment Overview

 By microstructure:

  • Alpha alloy
  • Near alpha alloy
  • Alphabeta alloy
  • Beta alloy

By end-user Industries:

  • Aerospace
  • Automotives
  • Power
  • Desalination
  • Chemical
  • Marine
  • Others

By region: 

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and North Africa

Impact of COVID-19 on the Global Titanium Alloys Market

COVID-19 had a negative impact on the Titanium Alloys Market in 2020. Several nations have gone into lockdown due to the threat of a pandemic. Due to supply chain interruptions and labour shortages, this had a severe effect on many end-user sectors such as aerospace, automotive, chemical, and others.

However, the situation is anticipated to improve in 2021-22, propelling the market forward throughout the projection period.

Regional Analysis:

In 2017, the Asia-Pacific region had the biggest Titanium Alloys Market. The primary reason was that the area has a large number of emerging economies. India and China, for example, were huge countries. In this area, the highest demand for titanium alloys is in the healthcare sector. This is due to the fact that the healthcare sector in the Asia-Pacific area is quickly growing.

In terms of titanium alloys use, North America continues to be a significant area. The reason for this is that it is home to a large number of manufacturing companies. The European Union is seeing an increase in demand for titanium alloys. This is mainly due to increased demand for aircraft and associated systems equipment from both the government and commercial manufacturers.

China is expected to need approximately 7,600 new commercial aircraft worth USD 1.2 trillion over the next two decades, according to Boeing.

According to the ‘Made in China 2025' strategy, China is projected to provide more than 10% of domestically produced commercial aircraft by 2025. During the projected period, this is anticipated to boost demand for titanium alloys.

As a result, the Titanium Alloys Market is projected to expand at a healthy rate during the forecast period. Over the projected period, the Asia-Pacific area is anticipated to have a significant CAGR.

 

 

 



Frequently Asked Questions
Titanium Alloys Market is predicted to grow at 4.25% through forecast period of 2020-2027
By 2027, worth USD 61.45 Billion is estimated for the global market.
AMG Advanced Metallurgical Group NV, ATI, Baoji Titanium Industry Co. Ltd, CRS Holdings Inc., CORSNET CORPORATION, ARKAM UK, HAYNES INTERNATIONAL, Hermith GmbH, NIPPON STEEL CORPORATION, OSAKA Titanium Japan.

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