Titanium alloys Market 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 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. Titanium Alpha alloys Market
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.
Titanium alloys Market Competitive
Analysis:
Some of the key players in the global
titanium alloys are Arcam (UK), ATI (US), Daido Steel Co., Ltd (Japan), United
Titanium, Inc. (US), TOHO TITANIUM CO., LTD (Japan), Haynes International (US),
Metalysis (UK), TLS Technik (Germany), Global Titanium Inc. (US), OSAKA Titanium
Technologies Co., Ltd (Japan), and ADMA Products, Inc. (US).
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Regional Analysis
Based on region, the titanium alloys
market has been segregated into North America, Europe, Asia-Pacific, Latin
America, and the Middle East & Africa.
Asia-Pacific accounted for largest
market share in 2017, owing to the healthy growth of the chemical industry. Due
to superior beneficial properties of titanium alloys they are used in
manufacture of numerous chemical equipment’s s such as reactor, distillation
tower and heat exchanger components which sustain longer. Growing end-use
industries, specifically in China and India, coupled with government support
for small, micro, and medium enterprises, is expected to fuel the demand for
titanium alloys.
North America is another prominent
region for titanium alloys due to the growing aerospace, medical, and consumer
goods industries in the region. The demand for titanium alloys is expected to
rise during the forecast period due to the increasing use of titanium, owing to
its superior properties such as biocompatibility, increased fatigue strength,
and increased lubricity. The European market is expected to grow on account of
increasing demand from industrial manufacturing and automotive sectors. In
Europe, Austria, Germany, Ireland, Luxembourg, and the Netherlands are expected
to show huge potential for titanium alloys market during the forecast period.
The markets in Latin America and the Middle East & Africa are expected to
display considerable growth during the review period due to growing end-use industries in the regions.
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