Titanium is used in vehicles because of its high strength, low density, and low modulus, as well as outstanding corrosion and oxidation resistance. Internal combustion engine components such as valves, valve springs, retainers, and connecting rods are mostly made of titanium. Titanium is an excellent material for connecting rods. Engines with titanium alloy connecting rods can efficiently enhance engine quality, increase fuel efficiency, and lower pollutants. In comparison to steel connecting rods, titanium links can degrade the quality by 15% to 20%. Furthermore, titanium alloy automotive engine valves not only improve quality and lengthen service life, but they also lower fuel consumption and improve vehicle reliability. North America Titanium market size is forecast to reach US$2,783.5 million by 2026, after growing at a CAGR of 3.9% during 2021-2026.
Titanium's superior strength-to-weight ratio, along with its outstanding corrosion resistance and ballistic protection, allows for significant weight savings over traditional steel and aluminium alloys. Lower-cost titanium has piqued the demand in Military. Furthermore, due to titanium’s advanced mechanical and forging properties, it is widely consumed material in military applications for ground vehicles. In Canada, Ontario is one of the major hubs for the Canada’s defence sector. The defence sector in Ontario is expanding due to technical advancements, personnel skill development, and manufacturing competence. According to Invest Ontario, the Ontario’s defence sector stood by US$3.08 billion in 2020 where 60% of revenue was generated through exports. Titanium's diverse alloying qualities will only enhance demand in military and aerospace applications, especially as composite construction becomes more prevalent in high-performance military vehicles.
The COVID-19 pandemic has negatively impacted the North American titanium market. Quarantines and "stay in place" orders, the timing and length of containment and eradication solutions, labor shortages, absenteeism by infected workers, travel restrictions, or other disruptions to supply chain or customers has adversely impacted the sales and operating results and has resulted in production delays in the North America titanium market. In addition, from the demand perspective, airplanes' grounding, construction, and manufacturing industries being in limbo contributed to a drop in fresh orders for titanium mill products as customers are waiting to get a deeper understanding of the full impact of COVID-19 on their respective markets. Various countries have experienced delays in state and municipal construction projects as a result of COVID-19. Site closures or project delays occurred, and increased social distancing and health-related precautions were required on many worksites, which resulted in additional project delays and costs. In addition, various companies in North America have experienced the temporary closure of many of the customer's retail locations and temporarily shut down factories to comply with the government "stay in place" orders. Thus, the pandemic situation significantly impacted the North American titanium market in the year 2020.
USA holds a major share of the North America titanium market. The aerospace and military industry is vital to the United States well-being, contributing significantly to the country's economic stability, defense and homeland security, and overall quality of life. The increasing demand for air travel and growth in air cargo is expected to increase both the passenger and cargo fleets in the United States. According to the Federal Aviation Administration (FAA), the number of aircraft in the US commercial fleet is expected to rise from 7,397 in 2018 to 8,806 in 2039, representing a 0.9 percent annual growth rate. The substantially increasing commercial air carrier industry will respond to a steady growth of seats per aircraft, whether through up-gauging or reconfiguring existing aircraft. Hence, there will be humungous demand for titanium market as well. Furthermore, NASA’s Mars 2020 mission launched from Cape Canaveral on July 30, 2020, landed in Jezero Crater, Mars on February 18, 2021. The Perseverance rover’s legs were made of titanium tubing formed with the same process used to make high-end mountain bike frames. Perseverance is intended to be the first part of a robotic sample return mission from Mars. Perseverance won’t come back to the Earth. Hence, the materials used in Perseverance have to withstand the Martian environment and terrain. The NASA/ESA (European Space Agency) plan, as envisioned, would involve the launch of two missions in 2026. The first is a dedicated NASA lander carrying an ESA-built “fetch” rover and a small rocket known as the Mars Ascent Vehicle (MAV). The fetch rover would collect the cached sample tubes left by Perseverance on Mars’ surface and bring them back to the MAV, then launch them into Mars orbit, where an ESA Earth-return orbiter, the second launch of 2026, would be waiting to capture the sample capsule.
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North America Titanium Market Growth Drivers:
Rising usage of titanium in combat vehicles is expected to create opportunities for the growth of the market
Titanium's use in combat vehicles has increased in recent years, and this trend is projected to continue in the upcoming years. The US Army has been increasingly incorporating titanium into its combat vehicles to improve armor or save weight. Furthermore, the government's plans envisage the creation of 30 percent lighter combat vehicles. To meet this goal, the hull and turret of future vehicles will need to be made of more ballistically efficient materials than rolled homogenous steel armor. With its good mechanical, ballistic, and corrosion qualities and acceptable fabricability, low-cost titanium is the most excellent option for achieving this goal.
Titanium's superior strength-to-weight ratio, combined with its exceptional corrosion resistance and ballistic protection, allows it to be lighter than traditional steel and aluminum and lowers its maintenance costs. Moreover, The Department of Defense (DoD) prepares a plan called the Future Years Defense Program (FYDP) as part of the President's budget request that represents DoD's expectations for its projects and costs over the next five years. According to the plan, CBO expects that the inflation-adjusted cost of DoD's programs will increase by 10% in the ten years following the FYDP period, to US$781 billion in 2035, based on DoD's cost estimates. The cost of operation and maintenance and military personnel would account for over 70% of the increase. Furthermore, in terms of the North Atlantic Treaty Organization (NATO), the Department of National Defence will receive US$ 541.2 million over five years in the 2021 budget for the maintenance of six fighter jets and an extra frigate as part of the NATO Readiness Initiative. The budget also proposes allocating up to US$ 305.9 million over five years to the Department of National Defence to cover higher Canadian contributions to NATO's common budget and military missions. Increasing government initiatives and significant investments towards the growth of the defense and military sector will further drive the demand for titanium. With the enlarging use of titanium in defense and military applications such as in combat vehicles, the long-term potential for increased titanium use is moderately high thus, which is therefore anticipated to raise the opportunities for the growth of the North American titanium market over the forecast period.
Rising Production of New Aircrafts will Drive the Market Growth
Titanium is widely used in the aircraft engine applications such as rotors, compressor blades, hydraulic system components, and nacelles owing to its unique properties such as high corrosion resistance, high tensile strength to density ratio, high crack resistance, fatigue resistance, and ability to withstand moderately elevated temperatures. As the thermal expansion rate of titanium is comparable to that of several superior composite materials, thus it is considered an excellent choice for the production of new aircraft. Moreover, the rising demand for fuel-efficient and lightweight aircraft for military and commercial applications is anticipated to drive the demand for titanium. Large aircraft manufacturing companies such as Boeing, headquartered in the USA, will deliver about 8,995 new commercial aircraft in North America from 2020-2038. Also, in January 2020, Airbus stated that, as part of its aim to produce 63 A320 family aircraft per month by 2021, it would increase the production pace of A320 family aircraft at its Airbus USA Manufacturing Facility in mobile to seven per month from the start of the year 2021. Furthermore, according to the Federal Aviation Administration (FAA), the number of aircraft in the US commercial fleet is expected to rise from 7,397 in 2018 to 8,806 in 2039, representing a 0.9 percent annual growth rate. Thus, it is anticipated that with the rising production of new aircraft’s in the region, the demand for titanium for aircraft production will also increase, which would further drive the growth of the North American titanium market in the projected period.
The Major Players in this Market Include
The major companies in the microencapsulated pesticides market include Allegheny Technologies Inc., Titanium Metals Corporation, U.S. Titanium Industry Inc., Titanium Fabrication Corporation, Ulbrich Stainless Steels and Special Metals Inc., AP&C Powder Metallurgy, United Titanium, Inc., Sierra Alloys Co., and Corrosion Materials, Inc. The key focus of the companies has shifted towards product launch and expansion.
In 2020, Ulbrich announced the unveiling of one of the world’s most advanced 20 High Rolling Mill at Wallingford, CT, where precision strip and foil is cold rolled for over 160 alloys of stainless steel, nickel, titanium, and other special metals. The new Rolling Mill can handle a wide range of thicknesses. This new mill has a technically advanced automatic gauge control and shape control system to closely monitor real-time variations of thickness and flatness throughout the length of each coil.
In 2019, AP&C Advanced Powders & Coatings, a GE Additive firm that specialises in the production of metal powders for additive manufacturing, is expanding its Greater Montréal operations by boosting production capacity and supporting Industry 4.0 technology deployment. The company's Saint-Eustache facilities on Montréal's North Shore will be expanded as part of the project.
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