DUBLIN--(BUSINESS WIRE)--The "Global Titanium Alloy Market - Segmented by Microstructure, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global titanium alloy market is expected to witness a moderate CAGR of 3.83% during the forecast period, 2018 to 2023. Titanium alloys are made from raw material titanium sponges. The selective addition of alloying elements or metals enable specific properties for specific end-user applications. Titanium alloys are, thereby giving it desirable properties, like high tensile strength, toughness, extraordinary corrosion resistance, and elevated temperature withstanding capability.
Titanium alloys have growing demand in developing countries, like China, India, Brazil, Mexico, Saudi Arabia, among others, and their demand in these countries has increased with the population growth, increasing industrial activity and urbanization. In China, population, and number of air passengers have been increasing at moderately high rate, year-on-year, boosting the demand for aircrafts in the country. Similar scenario of increasing demand for the aircraft industry can be seen in India, owing to increasing number of air passengers and their income levels. The automotive industry is also growing at the fastest rate in India currently, while China is the leading market in automotive. These factors, in turn are driving the demand for titanium alloys market.
Titanium alloys accounted for the largest share in the aerospace raw materials market, closely followed by aluminum alloys. Boeing and Airbus, together, account for over 60% of the demand for titanium alloys in the aerospace industry.
Key Developments in the Market
November 2017: Timet was expected to expand the speciality hot mills
hotmill in Toronto, Ohio in the near future
- Advanced Metallurgical Group N.V
- Arconic Inc.
- Allegheny Technologies Incorporated (ATI)
- Aperam S.A.
- Baoji Titanium Industry Co. Ltd.
- Carpenter Technology Corporation,Dowa Metaltech Co.
- Haynes International Inc.
- High Performance Alloys Inc.
- Outokumpu Oyj
- Precision Castparts Corp
- Special Metals Corporation
- Thyssenkrupp AG
- Toho Titanium Co. Ltd
Key Topics Covered
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company Profiles
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