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
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
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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