A recent report published by Infinium Global Research on titanium alloys market provides in-depth analysis of segments and sub-segments in the global as well as regional titanium alloys market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional titanium alloys market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global titanium alloys market. According to the report, the global titanium alloys market is projected to grow at a CAGR of 3.5% over the forecast period of 2019-2025.
Titanium alloys are made up of titanium and other chemical elements. Titanium alloy has very high tensile strength and toughness even at extreme temperatures. However, the high cost of both raw materials and processing limit their use to military applications, aircraft, spacecraft, bicycles, medical devices, jewelry, highly stressed components such as connecting rods on expensive sports cars and some premium sports equipment and consumer electronics.
The growing demand for titanium alloy in aerospace, automotive and Shipbuilding industry due to its mechanical and physical properties are fuelling the growth of the market. Furthermore, titanium alloy possesses the extraordinary corrosion resistance property that has increased its demand in medical surgery. The growing demand for surgical implants in the medical sector contributing to the growth of the market. On the other hand, high cost and lack of production infrastructure of titanium alloy can restrain the market in the near future. However, innovative product development will likely to boost market growth in the forecast period.
Geographically, the titanium alloys market is segmented into North America, Europe, Asia-Pacific, and RoW. The Asia-Pacific dominates the global titanium alloys market. Factors such as the growing automotive industry, the presence of several titanium alloy manufacturers and growing industrialization are contributing to the growth of the Asia-Pacific titanium alloys market. Furthermore, the growing steel industry in China and India also driving the growth of the Asia-Pacific titanium alloys market. Europe also holds a significant share in the market owing to the large automotive sector in this region.
The report on global titanium alloys market covers segments such as microstructure, and end user. On the basis of microstructure, the sub-markets include alpha type, alpha and beta type, and beta type. On the basis of end user, the sub-markets include aerospace, gas turbine, automotive, oil and gas, electronics and electrical, and other end users.
The report provides profiles of the companies in the market such as AMG Advanced Metallurgical Group NV, ATI Metals, Baoji Titanium Industry Co. Ltd, CRS Holdings Inc., CORSNET CORPORATION, Eramet, Haynes International Inc., Hermith GmbH, NIPPON STEEL CORPORATION, Outokumpu, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of titanium alloys market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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