Titanium Alloys Market Is Anticipated To Reach US$ 5.6 Billion by 2031

The titanium alloys market revenue totalled nearly US$ 4 Bn in 2020, according to Fact.MR. The global market is anticipated to reach US$ 5.6 Bn by 2031, growing 1.4x across the forecast period. Attributed by the emerging end-use industries like aerospace & defence, automobile and oil & gas processing, the market is likely to retain its original trajectory in the post-COVI-19 era.

Prospects further dwindled amidst the COVID-19 pandemic, as the imposition of lockdowns stalled production activities across major end use industries, including automotive and oil & gas processing respectively. However, as restrictions end across major regions, sales are gradually rebounding, leading to significant optimism for future growth.

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Key Takeaways from the Market Study:

• The global titanium alloys market is anticipated to add 1.4x value by 2027 as compared to 2021.
• U.S to be an opportunistic market, yielding around 50% of global market revenue
• Alpha alloys to grab major eyeballs, reaching US$ 1.82 Bn as of 2019
• Aerospace to emerge as the fastest growing application area- accounting for 3 out of 5 sales
• China to register a CAGR of 4% across the 2021-2031 assessment period

"Rising investments in the electric vehicles segment and evolving aerospace industry will fuel the demand for light weight nanomaterials, thereby increasing the demand for Titanium Alloys in forthcoming years." comments a Fact.MR analyst

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.

• In November 2020, Allegheny Technologies Inc. completed its acquisition of Ladish Co. Inc., in $883-million cash and common stock. The merger highlights the companies' involvement in supplying materials and components to aerospace, defence, and industrial markets.

• In April 2017, Kobelco Construction Machinery and Kobelco Cranes merged their businesses. Kobe Steel separated the two businesses in 2004 after Kobelco Construction combined with Case New Holland to manufacturer excavators. This merger is anticipated to improve business efficiency, strengthen product development capabilities, and bolster global development in the forthcoming time.

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Key Companies Profiled

• The Neonickle
• ATI
• Altemp Alloys Inc.
• Kobelco
• High Performance Alloys Inc.
• Haynes International Inc.
• Global Titanium Inc.
• Nippon Steel
• United Titanium
• Daido Steel

Key Segments Covered

• Micro Structure

o Alpha Titanium Alloys
o Near Alpha Titanium Alloys
o Alpha+ Beta Titanium Alloys
o Metastable Beta Titanium Alloys

• Grade Type

o Grade 5 Titanium Alloys
o Grade 23 Titanium Alloys
o Grade 12 Titanium Alloys
o Grade 6 Titanium Alloys
o Other Grade Titanium Alloys

• End Use

o Titanium Alloys for Aerospace & Defence
o Titanium Alloys for Power Generation
o Titanium Alloys for Chemical Processing
o Titanium Alloys for Automotive
o Titanium Alloys for Marine Applications
o Titanium Alloys for Fashion & Apparel
o Titanium Alloys for Oil & Gas Processing
o Titanium Alloys for Architecture
o Titanium Alloys for Biomedical
o Titanium Alloys for Sports
o Titanium Alloys for Other Applications

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Questionnaire answered in the Titanium Alloys Market report include:

• How the market for Titanium Alloys has grown?
• What is the present and future outlook of the global Titanium Alloys on the basis of region?
• What are the challenges and opportunities for the Titanium Alloys?
• Why the consumption of Titanium Alloys highest in region?
• In which year segment is expected to overtake segment?

What makes Fact.MR report stand out from others?

• MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Titanium Alloys market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.

• Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Titanium Alloys market, thus, making it different and special from other reports.

• Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.

• Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Titanium Alloys market and assists to create strategies to overcome the obstacles that may hinder the growth of the Titanium Alloys market.

• Leverage: The Titanium Alloys market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.

• Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.

• Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Titanium Alloys market.

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