Infinium Global Research has added a new report on Global Titanium Alloys Market. The report covers the analysis of global as well as regional markets of Titanium Alloys. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run. 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.
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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.
What are the Major Drivers, Restraints, Opportunities, Challenges, and Industry Trends and their Impact on the Titanium Alloys Market Forecasts?
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.
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Which Region is a Market Leader in the Global Titanium Alloys Market and what are the Key Reasons?
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.
What are the Fastest Growing Segments in the Titanium Alloys Industry?
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.
Which Companies are the Key Players in the Titanium Alloys Industry?
The report provides profiles of the companies in the titanium alloys 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.
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