Market Research Global Titanium Alloy Market Analysis 2018

The global titanium alloy market is expected to witness a moderate CAGR of 3.83% during the forecast
period, 2018 to 2023. Titanium alloys are made from raw material titanium sponges. The selective
addition of alloying elements or metals enable specific properties for specific end-user applications.
Titanium alloys are, thereby giving it desirable properties, like high tensile strength, toughness,
extraordinary corrosion resistance, and elevated temperature withstanding capability.
Rising Demand from Developing Countries
Titanium alloys have growing demand in developing countries, like China, India, Brazil, Mexico, Saudi
Arabia, among others, and their demand in these countries has increased with the population growth,
increasing industrial activity and urbanization. In China, population, and number of air passengers have
been increasing at moderately high rate, year-on-year, boosting the demand for aircrafts in the country.
Similar scenario of increasing demand for the aircraft industry can be seen in India, owing to increasing
number of air passengers and their income levels. The automotive industry is also growing at the fastest
rate in India currently, while China is the leading market in automotive. These factors, in turn are driving
the demand for titanium alloys market.
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Aerospace Industry to Dominate the Market
Titanium is one of the most important raw materials for the aerospace industry. Titanium alloys
accounted for the largest share in the aerospace raw materials market, closely followed by aluminum
alloys. Boeing and Airbus, together, account for over 60% of the demand for titanium alloys in the
aerospace industry. Titanium alloys form the third most important sector of raw materials demand,
when taken by the weight of raw materials that aerospace industry demands. Titanium alloys are used
in aircraft engines, blades, shaft, and airframe applications (landing gear, fasteners and wing beams).
Titanium alloys capability of operating at extreme temperatures, ranging from sub-zero to over 600C,
make them useful in casings of aircraft engines, and other applications.
Asia-Pacific to Expand at a Fastest Rate
The market for titanium alloys in Asia-Pacific is primarily being driven by rising demand from Chemical,
and Power & Desalination industries. China is the largest producer and largest consumer of titanium
alloy in Asia-Pacific. The consumption of titanium alloy is primarily in the aerospace, automotive,
medical, and chemical industries. Moreover, in China, the maximum consumption of titanium alloy is in
the chemical industries. Owing to the large number of chemicals manufacturing companies and
chemical plants in the country, titanium alloys demand is significantly increasing. India is another major
market for titanium alloys in Asia-Pacific.
Key Developments in the Market
November 2017: Timet was expected to expand the speciality hot mills hotmill in Toronto, Ohio in the
near future