Titanium Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Titanium Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : October, 2022 | Energy & Mining

Report Digest


Titanium Market – Overview

The titanium market has been anticipated to expand at a noteworthy pace throughout the forecast period. The growth avenues in the global market are attributed to the increasing use of titanium alloys across the aerospace sector. In addition to this, the rising demand for these titanium alloys for combat vehicles in order to replace aluminum and steel is also expected to drive the growth prospects in the global market in the coming years.

On the other hand, these titanium alloys are highly reactive and thus require specialized care at the time of production. This factor is further predicted to curtail the growth prospects in the global market in the following years. But, a noteworthy increase in product development has been estimated to fuel the expansion opportunities in the global market in the forthcoming years.

Titanium Market – Key Drivers

The alpha and near-alpha alloy vertical has been expected to hold the largest share in the global titanium market in the following years. These alloys are primarily pure commercial titanium alloys that maintain alpha phase at room temperature. In addition to this, these also contain tin, oxygen, aluminum, and alpha stabilizers.

The alpha alloys are commonly used in steam turbines, autoclaves, gas turbines, and some other process equipment vessels. Along with these, these also find applications in hollow compressor blades, structural parts, missile fuel tanks, welded stator assemblies, airframe and jet engine parts, and aircraft engine compressor blades. Thus, based on these increased applications, the titanium market has been predicted to grow at a noticeable pace in the coming years.

The ongoing trends in the aerospace & defense sector have been estimated to increase the production of jets and aircraft and thus create demand opportunities in the titanium market. Furthermore, rising demand for lightweight vehicles and SUVs along with rising government support to produce and sell electric vehicles are also serving as important factors to boost demand opportunities in the titanium market in the near future.

Titanium Market – Recent Developments and Key Players

The titanium market has been fragmented moderately. The global market has been commonly characterized with the presence of some local as well as international players. Further, these players have been projected to concentrate on different strategies in order to achieve a share in the global market, develop brand awareness, and penetrate the developing markets. Along with these efforts, these players are focusing to enhance their services to gain a larger consumer base. Mergers and acquisitions, novel product launches, expansion of company networks, and agreements or partnerships are some of the other noteworthy factors that are likely to fuel the market growth in the following years.

For instance, Boeing and Russian titanium producer named VSMPO-AVISMA has signed a Memorandum of Understanding in November 2021. The MOU has affirmed that VSMPO-AVISMA will be the largest supplier of titanium alloy for the future and current Boeing commercial airplanes.

Some of the key players in the titanium market are:

  • VSMPO-AVISMA Corporation
  • ATI
  • Timet
  • NIPPON STEEL CORPORATION

Titanium Market – Regional Assessment

The titanium market has been spread around five geographical regions including North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa on the basis of geographical locations. Asia Pacific among these has been predicted to hold a dominating share in the global market. This market dominance has been attributed to the rising demand from environmental protection, medical, high-end aerospace, and chemical sectors. Thus, based on these increasing applications across various industries, the titanium market has been projected to experience novel growth avenues in the coming years.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.