Unique properties of titanium is thriving its usage in various end-use industries. Titanium Market size is forecast to reach $7,608 million by 2025, after growing at a CAGR of 4.7% during 2020-2025.

The titanium market is growing at a significant rate during the forecast period, owning to rising usages of titanium in various end-use industries, such as automotive, marine, and chemical due to its unique properties such as high tensile strength to density ratio, high corrosion resistance, fatigue resistance, high crack resistance and ability to withstand moderately high temperatures without creeping. These properties make titanium an ideal metal to use in aircraft, armor plating, naval ships, space crafts, and missiles. Due to strong corrosion property, titanium pipes are used in chemical and petrochemical industries. Due to its nontoxic nature, it is used in many medical equipment such as hip balls, sockets, and dental implants. Increasing usage of titanium in the electronics industry is further expected to create various opportunities. Titanium circuit board hybrids promise a new era in the manufacture of circuit boards. They can do more than traditionally printed circuit boards, or PCBs, are hardy and work well in hostile environments. 

According to the long-term new deliveries demand produced by Airbus and Boeing, two of the largest commercial aircraft manufacturers in the world, a total of 39,213 deliveries by Airbus and 43,110 by Boeing are to be estimated to be done by 2038. Over the last decade, growth in passenger air travel averaged 6.5% per year, well above the long-term average of 5%. In this business environment, many of the world’s airlines grew their fleets through deliveries of new airplanes and often delayed airplane retirements to accommodate passenger demand. Roughly 4,000 airplanes in today’s commercial fleet are at least 20 years old. The current downturn is expected to lead to the replacement of many older airplanes. Airlines have announced phase-out plans for many of these airplanes already. This accelerated replacement cycle will position airlines for the future by improving the efficiency and sustainability of today’s fleet. The current market disruption will shape airline fleet strategies into the future as airlines make decisions to renew their fleets into the medium term and grow again into the longer term. Due to the benefits offered by titanium such as heat resistance and fuel efficiency, it is widely used in aircraft manufacturing. Titanium is used in engine applications such as rotors, compressor blades, hydraulic system components, and nacelles. Therefore, increased demand for repair and replacement works in aircraft will fuel titanium market growth.

Americas holds a major share of the titanium market, owning to increased production of aircraft in the region. The number of use cases for Titanium in commercial aircraft has been steadily increasing since the last decade with the total titanium mill product shipments increasing from around 60,000 tons in 2015 to 79,000 tons in 2019, and is estimated to hit 120,000 tons by 2028. Titanium is used in engine applications such as rotors, compressor blades, hydraulic system components, and nacelles. Titanium 6AL-4V alloy accounts for almost 50% of all alloys used in aircraft applications. According to International Trade Administration (ITA), in 2018 U.S. aerospace exports to Germany amounted to $8.92 billion, and the trade surplus was USD 6.36 billion, representing a 67 percent increase over 2016 (USD 3.8 billion). And in 2017, Canada was the United States’ fourth-largest foreign market for aerospace exports, valued at approximately US$9.2 billion, a ten percent increase over 2016. Various governments are investing heavily in the aerospace and defense sector. For instance, Brazil's 2019 budget proposal for the defense sector is approximately $30 billion. Major Brazilian Defense Strategic projects such as KC-390 aircraft, Grippen AM-X aircraft modernization, and Space System Strategic program coordinated by the Brazilian Air Force is also increasing the demand of the defense aerospace sector. Which eventually supports titanium market growth.

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Titanium Market Growth Drivers:
  • Rising usage of titanium in various end-use industries:
The rising usages of titanium in various end-use industries, such as automotive, marine, and chemical, drives a considerable share of market growth. Additionally, numerous other applications of titanium alloys led by their low thermal expansion and co-efficient fire resistance properties, escalate the market demand hugely. Moreover, various advantages offered by titanium such as heat resistance and fuel efficiency are expected to drive a massive demand from the aircraft manufacturing industry. Also, concerns regarding fuel efficiency have compelled manufacturers to take measures for reducing vehicle weight considerably, thereby propelling demand for lightweight vehicles, which leads to increase in the usage of titanium which is directly proportional to the market growth.

  • Research & Development:
The automotive applications of titanium and its alloys follow logically from high strength, low density and, low modulus, and they have excellent resistance to corrosion and oxidation. However, due to costs, the use of the metal has been limited to racing cars and a few top-of-the-range road models. Today, Tesla uses titanium sheeting for underbody shields on their Model S sedan. It’s designed to substantially improve safety as it helps to protect sensitive front underbody components from being damaged. For wider use within the automotive industry, greater developments are required to improve the economics of titanium; these developments may be found in new manufacturing methods and lower cost alloys. Auto OEMs must explore usage of Titanium alloys for Valve springs, Suspension springs as they reduce weight significantly compared to steel (60%-70% lighter).  Exhaust systems also can be made from Titanium as it guarantees corrosion resistance on exhaust systems above 100,000 miles. Pure titanium sheet and tube are the preferred commercial materials for silencers and pipework. By selecting the thinnest gauges of materials consistent with the engineering and acoustic requirements of the exhaust system improves both weight and cost. 
The Major Players in this Market Include
The major companies in the titanium market include Huntsman International, Ineos Group, Iluka Resources Ltd, Sumitomo Corporation, Vsmpo-Avisma Corporation, Toho Titanium Co., Ltd, Arconic Corporation, Allegheny Technologies Incorporated, TIMET, and Western Superconducting Technologies Co., Ltd., among others. In 2019, INEOS acquired Cristal’s North American Titanium Dioxide Business from Tronox for $700M. 
In 2019, Arconic Corporation launched ARCONIC-THOR, the advanced titanium alloy designed for higher temperature applications in aero engines and adjacent structures. In 2018, Allegheny Technologies Incorporated acquired Addaero Manufacturing (Addaero). This acquisition broadend the opportunity to provide comprehensive customer solutions ranging from parts design for additive manufacturing to ready-to-install component manufacturing. The main focus of the key companies are centered towards the acquisition and product launches in different locations of companies, thus enhancing their product portfolios for various end-use industry. The continuous developments in the titanium are the major factors set to buoy the titanium market during 2020-2025.  

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