Press release
Titanium Alloys Market is Forecasted to Reach US$ 9 Billion in 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm has launched a report on the global titanium alloys market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/3089/titanium-alloy-market.html#form
Market Statistics:
Market Size in 2028: US$ 9.0 billion
Growth (CAGR): 4.9% during 2023-2028
Leading Product Type: Flat Products
Leading End-Use Industry Type: Aerospace
Leading Region: Asia-Pacific
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Titanium Alloys Market:
The global titanium alloys market is segmented based on product type, end-use industry type, and region.
Based on product type - The titanium alloys market is bifurcated into bars, flat products, tubes, and others. Among these, flat products remain the leading product, whereas tubes will be the fastest-growing product in the market. Flat products have a long-range in terms of length and can be easily used in the aerospace and automotive industries. The market stakeholders are witnessing an increased use of tubes in oil & gas, driving its sales globally.
Based on end-use industry type - The market is segmented into aerospace, energy/power, industrial, electrical & electronics, automotive, and others. Aerospace is estimated to remain the biggest procurer of titanium alloys in the years to come. Industrial applications are likely to record the highest growth for the same period.
Titanium alloys have high usage in the aerospace industry with some of the key applications being engines, blades, shafts, landing gear, fasteners, and wing beams. Titanium alloy's strong growth in industrial applications is attributed to its excellent characteristic of corrosion resistance, making it a common material for the chemical processing industry.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest market followed by North America and Europe over the forecast period. This growth outlook is majorly attributed to the following-
· The excellent production base of titanium in Asia paired with easy accessibility and cheap labor costs help the region to develop a better ecosystem of the market.
· Furthermore, high industrial activities clubbed with the growing aerospace industry are substantiating the demand for titanium alloys in the region.
· Asia-Pacific is also expected to be the fastest-growing market over the forecast period. China, Japan, South Korea, and India are likely to be the growth propellers of titanium alloys in the region in the foreseeable future.
Titanium Alloys Market Drivers:
Some of the key drivers listed in the report are given below.
There are many factors governing the growth of titanium alloys. Some of these are increasing demand for alloys in the medical industry (medicines and medical procedures), high demand for alloys in aerospace in the form of tubes and flat products, and lastly, for its lightweight, its usage is increasingly used in the automotive industry. The key market challenges are the volatility in the price of titanium alloys amid the geopolitical challenge and the higher price than that of carbon steel.
Top 10 Companies in the Titanium Alloys Market:
Stratview Research has identified the following companies as the top market players (arranged alphabetically).
• Allegheny Technologies Incorporated
• Aubert and Duval
• Carpenter Technology Corporation
• Daido Steel Co., Limited
• Jiangsu Toland Alloy Co., Limited
• Mishra Dhatu Nigam Limited
• Precision Castparts Corporations
• United Titanium, Incorporated
• VSMPO AVISMA Corporation
• Western Superconducting Technologies
What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com
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About us -
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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