Fairfield Market Research Titanium Alloy Market Size, Trends, Insights, Share, Report 2029

Titanium Alloy Market

Global Titanium Alloy Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2029 - (By Alloy Type Coverage, By End-user Coverage, By Geographic Coverage and By Company)

Published Date: Apr 2023 | Format: | No. of Pages: 313

Industry: Chemicals & Materials


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Titanium Alloy Market Outlook

The global titanium alloy market was valued at US$4.3 Bn in 2021 and is projected to reach US$8.4 Bn by the end of 2029, exhibiting a healthy CAGR of 6.5% between 2022 and 2029. By 2029 end, the global titanium alloy market is poised to expand by around 1.6x as compared to 2022.

Market Analysis in Brief

In the world of materials - and the myriad industries that depend on them - there are apparently infinite number of unique (metal) types, alloys, and applications. It is impossible to put any one metal into one universal generalization. Titanium alloys is one of the most ubiquitous and extremely significant metals to the modern engineering. Not just airplanes account for its widespread use - titanium alloys are also used in industrial equipment (such as reactors, and desalination plants) as well. In addition, automotive and shipbuilding applications, power generation, orthopedic implants, sporting goods and equipment, and military applications are expectedly to collectively drive the revenue growth of global titanium alloy market.

Titanium Alloy Market

Key Report Findings

  • Titanium alloys are fondly referred to as the workhorse and future of modern engineering
  • Alpha + Beta Alloy group accounts for over half the overall titanium alloy consumption
  • Application in aerospace and military industry makes up for more than 50% of total demand
  • The US retains global lead, whereas China reflects exceptional growth potential
  • VSMPO-AVISMA Corporation remains the global leader in titanium alloy market space

Growth Drivers

Expanding Application Base Across Industries

Titanium alloys are widely used in the construction of aerospace framework as well as engines. Titanium alloys offer the various advantages such as weight savings, increased aircraft range, composite compatibility, and space limitations. Moreover, growing demand for titanium alloys for use in equipment like electric tanks, heat exchangers, and reactors will further supplement revenue generation in the global titanium alloy market. The flourishing medical implants market is also poised to offer a strong impetus to revenue expansion of the titanium alloy industry.

Overview of Key Segments

Alpha + Beta Alloys Sought-after Grade

In 2021, Alpha + Beta Alloy group was the most widely consumed titanium alloy grade and accounted for more than 50% of the total titanium alloy market in volume terms. Grade 5 (Ti-6Al-4V) also known as ‘workhorse’ of the titanium industry belongs to this group. Alpha + Beta alloys exhibits high strength, low density, and good corrosion resistance, thus making it a popular grade in a range of industries such as aerospace, military, chemical, sporting goods, and power generation.

Beta & Near-Beta alloys are expected to be the fastest growing titanium alloy group. These alloy grades are readily heat treatable and offer high strength up to intermediate temperature levels. These alloys also offer cost-competitive fabricated components compared to conventional titanium alloys such as Alpha + Beta alloys.

Owing to the biocompatibility and high strength at elevated temperature levels their demand is expected to rise especially from medical implants, power generation, and aerospace engine & structural applications. Beta & Near-Beta alloys are expected to grow with a CAGR of 7.5% between 2022 and 2029, accounting over 1/5th of the titanium alloy revenue share by 2029.

Aerospace and Military Applications Major Contributor

Titanium alloys have remained the most overwhelming metal choice for commercial aircraft, and military applications. This alloy remains the most sought-after metal, backed by notable consumption in the key end-use sectors such as aerospace, military chemical, power generation, consumer goods, and medical implants. More than 50% of the titanium alloys are consumed in aerospace and military applications that prominently drive titanium alloy market growth.

Next-generation models of engine, as well as aircraft are forecast to have 2-3x the titanium alloys as compared to legacy engines. Till 2019, the aerospace industry used to command more than half of the titanium alloys; however, the demand took a blip due to double whammy of grounding of Boeing 737 Max in 2019 and COVID-19 pandemic in early 2020. In 2021, the industry showed signs of recovery with rise in aircraft deliveries. In 2022, there was a substantial rise in air passenger traffic globally and recovered more than 60% of 2019 revenue passenger kilometers (RPKs).

Demand from Medical Implants Category Grows Fastest

In terms of volume, chemical is expected to account for around 18% of the titanium alloy market by 2029. Region wide acceptance of titanium alloys in chemical equipment such as heat exchangers, reactors, and electric tanks has been crucial to the titanium alloys.

On the other hand, global orthopedic implants market is expected to reach around US$80 Bn by 2030, with a staggering CAGR of 8.2% between 2022 and 2030. The fastest growing segment will be extremity implants (ankles, digits, elbow, shoulder), building on the success of hip and knee implants. Titanium alloys are attractive as implant materials owing to their high biocompatibility. The demand for titanium alloys in medical implants is forecasted to reach US$480 Mn by 2029, growing a CAGR of 6.7% between 2022 and 2029.

Growth Opportunities Across Regions

North America, and Asia Pacific Grow Prominent

Several countries such as China, and India are now investing substantial sums in creating their own aerospace industries for a wide range of purposes, be it space exploration or otherwise. As titanium alloys are extensively used in the manufacturing of various components in this industry, this factor is expected to have a profound influence on the titanium alloy market over time. While North America is considered a dominant force in the aerospace market, Asia Pacific region is expected to index immense growth over the forecast period.  

China’s Burgeoning Demand

Asia Pacific is the leading region in the global titanium alloy market that currently accounts for more than 35% of the market. In 2022, China was one of the largest producers and consumers of titanium alloys worldwide and accounted for more than 1/4th of the global titanium alloy industry. Corrosion chemicals such as chlorine hydroxide, chloride, metal chlorides, and chlorinated sulphuric acid accounted for more than 60% of the total titanium alloy consumption in the chemical industry.  

Growing domestic and international travel, driven by increasing tourism, business activity and rising incomes, has resulted in a robust domestic commercial aviation industry in China. According to the International Air Transport Association (IATA), China is poised to overthrow the US as the largest aviation market. In revenue terms, the demand for titanium alloys for aerospace and military applications is projected to reach US$13.5 Bn by 2029.

North America’s Reliance on Russian Imports

North America was the most impacted region owing to the twofold blow of COVID-19 pandemic and 737 Max grounding. The US aerospace industry has started to recover and is expected to reach pre-covid levels by 2024-2025. However, there are a few setbacks such labor shortages, uptick in the interest rates, and inflation that will hamper the growth of titanium alloy market. The US has been dependent on the titanium sponge, and titanium alloys (aerospace grade) on countries such Russia, and Japan.

Traditionally, Russia has been the largest supplier of aerospace grade titanium alloys worldwide, especially to the aircraft and engine OEMs as Boeing, Airbus, Safran, and Embraer. Amid the geopolitical tensions between Russia, and Ukraine, rises the opportunity for countries such as Japan, Kazakhstan, and the US to supply aerospace grade titanium alloys worldwide.

Competition Landscape - Titanium Alloy Market

Strategic Alliances and Partnerships Trend

VSMPO-AVISMA Corporation, the global market leader, has been reaping the benefit of an extensive integrated business and distribution network worldwide. The company has strong presence across Asia, Europe, as well as American markets. The titanium alloy market is highly consolidated with top 7 players (VSMPO, Baoji, ATI, WST, PCC, Kobelco, WMM) accounting for over 65% of the total titanium alloy market in 2021. These companies are focusing on long-term agreements/contracts with aircraft & engine OEMs to secure businesses in the current turbulent conditions.

In 2022, VSMPO-AVISMA and Aernnova Aerospace signed a long-term titanium supply agreement until 2028. Under the terms of the agreement, VSMPO-AVISMA will keep on delivery of titanium die forgings intended for Airbus A350 aircraft structures to Aernnova Aerospace. Aernnova works with aerospace customers such as Embraer, Airbus, Bell Helicopters, Boeing, Northrop Grumman, Sikorsky, and Space X.

The Global Titanium Alloy Market is Segmented as Below:

By Alloy Type Coverage  

  • Alpha & Near-Alpha Titanium Alloy
  • Alpha + Beta Titanium Alloy
  • Beta & Near-Beta Titanium Alloy

By End-user Coverage      

  • Aerospace
  • Military
  • Chemical
  • Power Generation
  • Automotive & Marine
  • Medical Implants
  • Consumer Goods
  • Sporting Goods & Equipment
  • Misc. (Jewellery, Construction, etc.)

By Geographical Coverage       

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Leading Companies       

  • Allegheny Technologies Incorporated (ATI)
  • Baoji Titanium Co. Ltd.
  • Western Superconducting Technologies Co, Ltd. (WST)
  • Kobe Steel, Ltd.
  • Western Metal Materials Co. Ltd. (WMM)
  • Precision Castparts Corp. (PCC)
  • UKTMP JSC
  • Toho Titanium Co., Ltd.
  • Hermith GmbH
  • Howmet Aerospace Inc.
  • Mishra Dhatu Nigam Limited (MIDHANI)
  • ERAMET Group
  • Xinjiang Xiangsheng New Material Technology Co., Ltd.
  • Oric Italiana S.r.l.
  • C.M.A. S.A.
  • ZTMC Ltd.

Inside This Report You Will Find:

1. Executive Summary
2. Market Overview
3. Production Output and Trade Statistics
4. Price Trends Analysis and Future Projects, 2018 - 2029
5. Global Titanium Alloy Market Outlook, 2018 - 2029
6. North America Titanium Alloy Market Outlook, 2018 - 2029
7. Europe Titanium Alloy Market Outlook, 2018 - 2029
8. Asia Pacific Titanium Alloy Market Outlook, 2018 - 2029
9. Latin America Titanium Alloy Market Outlook, 2018 - 2029
10. Middle East & Africa Titanium Alloy Market Outlook, 2018 - 2029
11. Competitive Landscape
12. Appendix

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1. Executive Summary
     1.1. Global Titanium Alloy Market Snapshot
     1.2. Future Projections
     1.3. Key Market Trends
     1.4. Regional Snapshot, by Volume, 2021
     1.5. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
                  2.2.1.1. Titanium Alloys is the Overwhelming Choice for Commercial Aircraft, and Spacecraft
                  2.2.1.2. China Continuous Dominance Changing the Face of the Titanium Alloy Market
            2.2.2. Restraints
                  2.2.2.1. Recycling Challenges and High Buy-to-Fly Ratio to Hinder the Market Growth
            2.2.3. Market Opportunities
            2.2.4. Additive Manufacturing: Will it Be a Game Changer for Titanium?
     2.3. Value Chain Analysis
     2.4. Supply Chain Interpretation
     2.5. Porter’s Five Forces Analysis
     2.6. Covid-19 Impact Analysis
            2.6.1. Supply
            2.6.2. Demand
            2.6.3. COVID-19: Industry Heatmap Analysis
     2.7. Impact of Ukraine-Russia Conflict
     2.8. Economic Overview
            2.8.1. GDP per Capita, 2021
            2.8.2. World Economic Projections
            2.8.3. Aircraft Engine OEMs Forecast, 2015 - 2040
            2.8.4. Long-term Passenger Traffic Forecast, 2019 - 2050
            2.8.5. Commercial Aircraft Deliveries, by OEMs, 2017 - 2022
     2.9. PESTLE Analysis

3. Production Output and Trade Statistics
     3.1. Global Sponge Capacity, Kilo Tons, 2021
     3.2. Global Titanium Alloys Production, 2018 - 2022
     3.3. Titanium Alloys Import Statistics, 2018 - 2022

4. Price Trends Analysis and Future Projects, 2018 - 2029
     4.1. Global Average Price Analysis, by Alloy Type, US$ per Kg
     4.2. Prominent Factors Affecting Titanium Alloys Prices
     4.3. Global Average Price Analysis, by Region, US$ per Kg

5. Global Titanium Alloy Market Outlook, 2018 - 2029
     5.1. Global Titanium Alloy Market Outlook, by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            5.1.1. Key Highlights
                  5.1.1.1. Alpha & Near-Alpha Alloys
                  5.1.1.2. Alpha + Beta Alloys
                  5.1.1.3. Beta Alloys & Near-Beta Alloys
     5.2. Global Titanium Alloy Market Outlook, by End Users, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            5.2.1. Key Highlights
                  5.2.1.1. Aerospace
                  5.2.1.2. Military
                  5.2.1.3. Chemical
                  5.2.1.4. Power Generation
                  5.2.1.5. Automotive & Marine
                  5.2.1.6. Medical Implants
                  5.2.1.7. Consumer Goods
                  5.2.1.8. Sporting Goods & Equipment
                  5.2.1.9. Misc. (Jewelry, Construction, etc.)
     5.3. Global Titanium Alloy Market Outlook, by Region, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            5.3.1. Key Highlights
            5.3.2. Titanium Alloy Market, Region vs Application Analysis, by Value, 2022
                  5.3.2.1. North America
                  5.3.2.2. Europe
                  5.3.2.3. Asia Pacific
                  5.3.2.4. Latin America
                  5.3.2.5. Middle East & Africa

6. North America Titanium Alloy Market Outlook, 2018 - 2029
     6.1. North America Titanium Alloy Market Outlook, by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            6.1.1. Key Highlights
                  6.1.1.1. Alpha & Near-Alpha Alloys
                  6.1.1.2. Alpha + Beta Alloys
                  6.1.1.3. Beta Alloys & Near-Beta Alloys
     6.2. North America Titanium Alloy Market Outlook, by End Users, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            6.2.1. Key Highlights
                  6.2.1.1. Aerospace
                  6.2.1.2. Military
                  6.2.1.3. Chemical
                  6.2.1.4. Power Generation
                  6.2.1.5. Automotive & Marine
                  6.2.1.6. Medical Implants
                  6.2.1.7. Consumer Goods
                  6.2.1.8. Sporting Goods & Equipment
                  6.2.1.9. Misc. (Jewelry, Construction, etc.)
            6.2.2. Market Attractiveness Analysis
     6.3. North America Titanium Alloy Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            6.3.1. Key Highlights
                  6.3.1.1. U.S. Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  6.3.1.2. U.S. Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  6.3.1.3. Canada Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  6.3.1.4. Canada Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Titanium Alloy Market Outlook, 2018 - 2029
     7.1. Europe Titanium Alloy Market Outlook, by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            7.1.1. Key Highlights
                  7.1.1.1. Alpha & Near-Alpha Alloys
                  7.1.1.2. Alpha + Beta Alloys
                  7.1.1.3. Beta Alloys & Near-Beta Alloys
     7.2. Europe Titanium Alloy Market Outlook, by End Users, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            7.2.1. Key Highlights
                  7.2.1.1. Aerospace
                  7.2.1.2. Military
                  7.2.1.3. Chemical
                  7.2.1.4. Power Generation
                  7.2.1.5. Automotive & Marine
                  7.2.1.6. Medical Implants
                  7.2.1.7. Consumer Goods
                  7.2.1.8. Sporting Goods & Equipment
                  7.2.1.9. Misc. (Jewelry, Construction, etc.)
            7.2.2. BPS Analysis/Market Attractiveness Analysis
     7.3. Europe Titanium Alloy Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            7.3.1. Key Highlights
                  7.3.1.1. Germany Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.2. Germany Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.3. U.K. Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.4. U.K. Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.5. France Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.6. France Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.7. Italy Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.8. Italy Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.9. Russia Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.10. Russia Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.11. Rest of Europe Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  7.3.1.12. Rest of Europe Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Titanium Alloy Market Outlook, 2018 - 2029
     8.1. Asia Pacific Titanium Alloy Market Outlook, by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            8.1.1. Key Highlights
                  8.1.1.1. Alpha & Near-Alpha Alloys
                  8.1.1.2. Alpha + Beta Alloys
                  8.1.1.3. Beta Alloys & Near-Beta Alloys
     8.2. Asia Pacific Titanium Alloy Market Outlook, by End Users, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            8.2.1. Key Highlights
                  8.2.1.1. Aerospace
                  8.2.1.2. Military
                  8.2.1.3. Chemical
                  8.2.1.4. Power Generation
                  8.2.1.5. Automotive & Marine
                  8.2.1.6. Medical Implants
                  8.2.1.7. Consumer Goods
                  8.2.1.8. Sporting Goods & Equipment
                  8.2.1.9. Misc. (Jewelry, Construction, etc.)
            8.2.2. BPS Analysis/Market Attractiveness Analysis
     8.3. Asia Pacific Titanium Alloy Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            8.3.1. Key Highlights
                  8.3.1.1. China Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.2. China Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.3. Japan Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.4. Japan Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.5. South Korea Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.6. South Korea Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.7. India Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.8. India Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.9. Southeast Asia Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.10. Southeast Asia Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.11. Rest of Asia Pacific Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  8.3.1.12. Rest of Asia Pacific Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Titanium Alloy Market Outlook, 2018 - 2029
     9.1. Latin America Titanium Alloy Market Outlook, by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            9.1.1. Key Highlights
                  9.1.1.1. Alpha & Near-Alpha Alloys
                  9.1.1.2. Alpha + Beta Alloys
                  9.1.1.3. Beta Alloys & Near-Beta Alloys
     9.2. Latin America Titanium Alloy Market Outlook, by End Users, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            9.2.1. Key Highlights
                  9.2.1.1. Aerospace
                  9.2.1.2. Military
                  9.2.1.3. Chemical
                  9.2.1.4. Power Generation
                  9.2.1.5. Automotive & Marine
                  9.2.1.6. Medical Implants
                  9.2.1.7. Consumer Goods
                  9.2.1.8. Sporting Goods & Equipment
                  9.2.1.9. Misc. (Jewelry, Construction, etc.)
            9.2.2. BPS Analysis/Market Attractiveness Analysis
     9.3. Latin America Titanium Alloy Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            9.3.1. Key Highlights
                  9.3.1.1. Brazil Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  9.3.1.2. Brazil Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  9.3.1.3. Mexico Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  9.3.1.4. Mexico Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  9.3.1.5. Rest of Latin America Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  9.3.1.6. Rest of Latin America Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Titanium Alloy Market Outlook, 2018 - 2029
     10.1. Middle East & Africa Titanium Alloy Market Outlook, by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            10.1.1. Key Highlights
                  10.1.1.1. Alpha & Near-Alpha Alloys
                  10.1.1.2. Alpha + Beta Alloys
                  10.1.1.3. Beta Alloys & Near-Beta Alloys
     10.2. Middle East & Africa Titanium Alloy Market Outlook, by End Users, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            10.2.1. Key Highlights
                  10.2.1.1. Aerospace
                  10.2.1.2. Military
                  10.2.1.3. Chemical
                  10.2.1.4. Power Generation
                  10.2.1.5. Automotive & Marine
                  10.2.1.6. Medical Implants
                  10.2.1.7. Consumer Goods
                  10.2.1.8. Sporting Goods & Equipment
                  10.2.1.9. Misc. (Jewelry, Construction, etc.)
     10.3. Middle East & Africa Titanium Alloy Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            10.3.1. Key Highlights
                  10.3.1.1. GCC Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  10.3.1.2. GCC Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  10.3.1.3. South Africa Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  10.3.1.4. South Africa Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  10.3.1.5. Rest of Middle East & Africa Titanium Alloy Market by Alloy Type, Volume (Tons) and Value (US$ Mn), 2018 - 2029
                  10.3.1.6. Rest of Middle East & Africa Titanium Alloy Market by End User, Volume (Tons) and Value (US$ Mn), 2018 - 2029
            10.3.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape
     11.1. Alloy Type vs End User Heatmap
     11.2. Titanium Alloy Types, Grades, and Major End Users
     11.3. Company Market Share Analysis, 2021
     11.4. Competitive Dashboard
     11.5. Company Profiles
            11.5.1. VSMPO-AVISMA Corporation
                  11.5.1.1. Company Overview
                  11.5.1.2. Product Portfolio
                  11.5.1.3. Financial Overview
                  11.5.1.4. Business Strategies and Development
            11.5.2. Allegheny Technologies Incorporated (ATI)
                  11.5.2.1. Company Overview
                  11.5.2.2. Product Portfolio
                  11.5.2.3. Financial Overview
                  11.5.2.4. Business Strategies and Development
            11.5.3. Baoji Titanium Industry Co., Ltd.
                  11.5.3.1. Company Overview
                  11.5.3.2. Product Portfolio
                  11.5.3.3. Financial Overview
                  11.5.3.4. Business Strategies and Development
            11.5.4. Western Superconducting Technologies Co, Ltd. (WST)
                  11.5.4.1. Company Overview
                  11.5.4.2. Product Portfolio
                  11.5.4.3. Financial Overview
                  11.5.4.4. Business Strategies and Development
            11.5.5. Kobe Steel, Ltd.
                  11.5.5.1. Company Overview
                  11.5.5.2. Product Portfolio
                  11.5.5.3. Financial Overview
                  11.5.5.4. Business Strategies and Development
            11.5.6. Western Metal Materials Co. Ltd. (WMM)
                  11.5.6.1. Company Overview
                  11.5.6.2. Product Portfolio
                  11.5.6.3. Financial Overview
                  11.5.6.4. Business Strategies and Development
            11.5.7. Precision Castparts Corp. (PCC)
                  11.5.7.1. Company Overview
                  11.5.7.2. Product Portfolio
                  11.5.7.3. Financial Overview
                  11.5.7.4. Business Strategies and Development
            11.5.8. UKTMP JSC
                  11.5.8.1. Company Overview
                  11.5.8.2. Product Portfolio
                  11.5.8.3. Business Strategies and Development
            11.5.9. Toho Titanium Co., Ltd.
                  11.5.9.1. Company Overview
                  11.5.9.2. Product Portfolio
                  11.5.9.3. Financial Overview
                  11.5.9.4. Business Strategies and Development
            11.5.10. Hermith GmbH
                  11.5.10.1. Company Overview
                  11.5.10.2. Product Portfolio
                  11.5.10.3. Business Strategies and Development
            11.5.11. Howmet Aerospace Inc.
                  11.5.11.1. Company Overview
                  11.5.11.2. Product Portfolio
                  11.5.11.3. Financial Overview
                  11.5.11.4. Business Strategies and Development
            11.5.12. Mishra Dhatu Nigam Limited (MIDHANI)
                  11.5.12.1. Company Overview
                  11.5.12.2. Product Portfolio
                  11.5.12.3. Financial Overview
                  11.5.12.4. Business Strategies and Development
                        11.5.13. ERAMET Group
                  11.5.13.1. Company Overview
                  11.5.13.2. Product Portfolio
                  11.5.13.3. Financial Overview
                  11.5.13.4. Business Strategies and Development
            11.5.14. Xinjiang Xiangsheng New Material Technology Co., Ltd.
                  11.5.14.1. Company Overview
                  11.5.14.2. Product Portfolio
                  11.5.14.3. Business Strategies and Development
            11.5.15. Oric Italiana S.r.l.
                  11.5.15.1. Company Overview
                  11.5.15.2. Product Portfolio
                  11.5.15.3. Financial Overview
            11.5.16. L.C.M.A. S.A.
                  11.5.16.1. Company Overview
                  11.5.16.2. Product Portfolio
            11.5.17. ZTMC Ltd.
                  11.5.17.1. Company Overview
                  11.5.17.2. Product Portfolio

12. Appendix
     12.1. Research Methodology
     12.2. Report Assumptions
     12.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2021

 

2018 - 2021

2022 - 2029

Value: US$ Mn Volume: Tons

 

REPORT FEATURES

DETAILS

Alloy Type Coverage

  • Alpha & Near-Alpha Titanium Alloy
  • Alpha + Beta Titanium Alloy
  • Beta & Near-Beta Titanium Alloy

End-user Coverage

  • Aerospace
  • Military
  • Chemical
  • Power Generation
  • Automotive & Marine
  • Medical Implants
  • Consumer Goods
  • Sporting Goods & Equipment
  • Misc. (Jewellery, Construction, etc.)

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Leading Companies

  • Allegheny Technologies Incorporated (ATI)
  • Baoji Titanium Co. Ltd.
  • Western Superconducting Technologies Co, Ltd. (WST)
  • Kobe Steel, Ltd.
  • Western Metal Materials Co. Ltd. (WMM)
  • Precision Castparts Corp. (PCC)
  • UKTMP JSC
  • Toho Titanium Co., Ltd.
  • Hermith GmbH
  • Howmet Aerospace Inc.
  • Mishra Dhatu Nigam Limited (MIDHANI)
  • ERAMET Group
  • Xinjiang Xiangsheng New Material Technology Co., Ltd.
  • Oric Italiana S.r.l.
  • L.C.M.A. S.A.
  • ZTMC Ltd.

Report Highlights

Market Estimates and Forecast, Market Dynamics, Industry Trends, Production Output, Trade Statistics, Prices Trend Analysis, Competition Landscape, Alloy Type-, End-user-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply), Key Market Trends

FAQs : Titanium Alloy Market

In 2022, with 35% value share, Asia Pacific held the highest market share and will continue to dominate the titanium alloys demand by 2029. Huge investment in aircraft production & aerospace infrastructure coupled with exponential rise in the military spending in China, India, and Japan will boost the demand for titanium alloys in the region.

The global titanium alloy market was valued at US$4.3 Bn in 2021 and is predicted to be valued at US$8.4 Bn by the end of 2029, wherein alpha + beta titanium alloys are likely to hold more than 45% of the total market value.

Next-generation engine and aircraft models are forecast to have 2-3x the titanium alloys as compared to traditional models. Furthermore, there has been a huge investment in military, especially in the countries such as the US, China, India, France, and Russia.

China’s emergence as aircraft OEM is expected to challenge the duopoly of Boeing, and Airbus in the long term. China has ambitious project plans to its domestic aircraft production and expects its commercial aircraft to supply 10% of the domestic market and its jetliners to account for up to 20% of the global market by 2025.

The global titanium alloy market is highly consolidated with the top five players contributing to more than 50% of the market valuation. In 2021, with more than 14% share, VSMPO-AVISMA Corporation was the market leader in the global titanium alloy market.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
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