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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 | Author Name: Harshad

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FAQ : 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.
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