Press release
Global Titanium & Titanium Alloy Scrap Market To Receive Overwhelming Hike In Revenues By 2026 | TMR
Titanium and its alloys are used in a wide range of applications in industries such as biomedical, aerospace, and chemical due to their properties such as high corrosion and mechanical resistance and low density. With technological advantages in the titanium machining processes, the quality of titanium by-products, such as Ti chip has also been increasing at a fast rate, which is anticipated to drive the demand for titanium in the near future. Demand for titanium scrap and titanium alloy scrap is high due to their properties such as excellent corrosion resistance, excellent strength-to-weight ratio, and high melting temperature. Titanium scrap are generated while manufacturing titanium or during equipment fabrication. Aerospace industry is a major source for titanium scrap. These scrap are obtained from engines and structural components of aircrafts. Additionally, titanium is an environment friendly metal. It is used in various applications due to its corrosion resistant properties.
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Titanium & Titanium Alloy Scrap Market: Trends & Developments
Titanium scrap are extensive employed in the biomedical industry. This is anticipated to drive the titanium & titanium alloy scrap market in the near future, which is encouraging companies to invest more in research and development of new recycling technologies. Furthermore, increasing production of commercial aircrafts is anticipated to boost the demand for titanium & titanium alloy scrap during the forecast period.
Companies operating in the global titanium & titanium alloy scrap market strive to develop new and better methods of recycling titanium scrap. Development of new processes to recycle titanium scrap is estimated to propel the titanium & titanium alloy scrap market during the forecast period.
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Titanium & Titanium Alloy Scrap Market: Key Players
Prominent players operating in the global titanium & titanium alloy scrap market include Monico Alloys Inc, METRACO NV, Global Titanium Inc., and Gold Metal Recyclers. These players engage in research & development activities, strategic alliances, and mergers & acquisitions to gain market share.
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