The global titanium market size is expected to grow from USD 24.7 billion in 2021 to USD 33.5 billion by 2026, at a CAGR of 6.3% during the forecast period. Titanium metal is majorly used in the aerospace industry along with chemical & process, energy & power, Desalination, medical marine, construction and consumer goods. The increasing demand from the aviation industry drives the demand for Titanium metal. Due to the outbreak of COVID-19, the aviation industry was heavily affected and saw a great fall but is eying an upward turn with the passing of 2021.
The outbreak of COVID-19 has disrupted the supply chain of raw material providers and manufacturers of paints and coatings. Countries such as India, China, Germany, the UK, and the US are the hubs of paints and coatings manufacturers and major suppliers of raw materials. The halt in the production and supply of raw materials owing to travel restrictions imposed for the reduction of the spread of the virus has impacted the growth of the market for paints & coatings. However, the steady recovery during the post-pandemic scenario is likely to support the growth of the titanium pigments market during the forecast period.
Get an Exclusive PDF Sample Copy of the Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=53889164
Titanium metal is majorly used in the production of turbine engines apart from airframes and other components. In turbine engines, titanium is used to manufacture components such as inlet cases, compressor blades, disks, and hubs, as well as spacers and seals. By weight, these turbine engines constitute about 25% of titanium and its alloys. Apart from engine components, titanium is also utilized to manufacture fasteners, landing-gear supports, springs, fail-safe straps, and numerous internal bulkhead and wing-support components in the aerospace industry. These are the major applications of titanium metal. So when the aerospace industry was struggling, the titanium metal market stumbled as well.
Titanium is a very stable and economical substitute to aluminum and offers the most efficient weight-to-strength ratio. Although most of the players in the titanium metal landscape are backward-integrated, the lack of demand has disrupted production. The pandemic has hit nearly all the industries apart from the medical industry, which remained almost stable during the last couple of years. The growth although seems a bit slow which could take more than a couple of years to reattain the pre covid market size.
Titanium has gained acceptance as preferred metal for the manufacturing of piping systems, coolers, vessels, heat exchangers, tanks, and agitators for applications in the chemical & process industry. The metal is also suitable for application in undersea piping as it is capable of handling high temperatures. These properties have proven to be a great aiding factor for the growth of the titanium metal market in the chemical industry. The fact that titanium metal is lighter than steel and stronger than aluminum gives it an added advantage. The metal is used in the chemical industry for the development of chemical processing equipment, including titanium containers, heat exchangers, and titanium anodes, Titanium is able to form a protective oxide layer especially in the presence of oxygen (stable oxide), which gives it its strong inertness to most chemicals and corrosion. These properties are the reason that titanium is a preferred material in the chemical & process industry.
Request Customized Report as Per Your Requirements at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=53889164
In nuclear waste storage, it is crucial that the storage container material does not react with the surroundings as well as the waste stored in the container itself. The excellent corrosion resistance property of titanium make it ideal for the job. Titanium is also used to manufacture nuclear reactor shields that increase the life of the reactor as well as protect the operator from the radiation emitted by the reactor.
VSMPO-AVISMA (Russia), ATI Metals (US), Titanium Metal Corporation (US), are some of the major players in the titanium metal landscape. The companies are involved in mergers and acquisitions along with new product development and capacity expansions. The titanium metal manufacturing process has many regulations as well regarding to the raw materials and intermediaries involved. Also, the availability of ores like rutile, ilmenite, and leucoxene have a huge impact on the titanium production of the region.
VSMPO-AVISMA is the among the world's largest titanium producers. Located in Verkhnyaya Salda, Russia, VSMPO-AVISMA also operates facilities in Ukraine, England, Switzerland, Germany, and the US. The company produces titanium, aluminum, magnesium, and steel alloys. The company serves industries such as aerospace, shipbuilding and underwater depths developing, energy, transportation, natural resources extraction, armor protection, chemical engineering, air and water cleaning, medicine, and sports & leisure.
Titanium Metals Corporation was established in 1950 and provides nearly one fifth of the world’s total titanium. It is among the industry leaders in mill and melted products. The company has a wide global presence with manufacturing plants in both North America and Europe. The company is the sole manufacturer of titanium sponge in the US. It manufactures titanium sponge, which is a critical element of titanium metal, the highest quality of which is used to make parts for aircraft structures and engines, munition systems, ground combat vehicles, and ships.
If You Want To Know More About Report Before Buying at https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=53889164
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
The new Titanium Additives Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the titanium additives market include Argex Titanium Inc., Arya Chem Inc., Chemours Company, CRS Holdings Inc., DuPont de Nemours, Inc., Evonik Industries AG, Farinia Group, General Electric Company, GKN Hoeganaes, GKN Sinter Metals Engineering GmbH, Honeywell International Inc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Titanium Additives Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/titanium-additives-market/download-sampleMarket DynamicsIncreasing demand for titanium additives for coloring food items, textiles, paper and pulp, and cosmetics increases market growth.
Rising automotive production, growing expenditure in the construction sector, and escalating use in the aerospace, medical, paints, and coatings industry significantly contribute to market growth.
The new research report titled "Titanium Alloy Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Titanium Alloy Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/titanium-alloy-market/download-sampleMarket DynamicsRising applications in automotive, aerospace, and medical application are driving the growth of the market.
Titanium alloy is broadly demanded across these industries due to its excellent mechanical and physical properties.
The growing trends of aerospace, marine, and automobile industry in the region, along with rising demand for titanium implants, are the factors that are expected to propel market growth within the region.
