Titanium Alloys And Ultrafine Titanium Dioxide Global Market Opportunities And Strategies To 2023
NEW YORK, Feb. 27, 2019 /PRNewswire/ -- This report describes and evaluates the global market for global titanium alloys and ultrafine titanium dioxide market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2023, the forecast period.
Read the full report: https://www.reportlinker.com/p05741957
The titanium alloys and ultrafine titanium dioxide market consists of manufacturers' sales of titanium alloys and ultrafine titanium dioxide.These are titanium alloy metals that contain a mixture of titanium and other chemical elements and ultrafine titanium dioxide.
Titanium is a strong and lightweight refractory (resistant to heat and wear) metal.Titanium alloys have excellent corrosion resistance and a high strength-to-weight ratio.
Titanium alloys and ultrafine titanium dioxide are used in manufacturing industries such as aerospace, automobiles, cosmetics, electronics, medical implants and plastics manufacturing.
The titanium alloys and ultrafine titanium dioxide market reached a value of nearly $2.7 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% to nearly $3.2 billion by 2023. Factors such as growth in the aerospace and defense industry, increasing use of titanium alloys in offshore equipment, rising demand for electronic products globally and growth in the demand for premium automobiles globally are contributing to the growth of the market. The market is threatened by restraints such as the availability of alternatives, high machining costs and rising trade protectionism.
The titanium alloys segment accounted for the largest share of the global titanium alloys and ultrafine titanium dioxide market in 2018 at $1.7 billion. Global titanium alloys market trends are positive but Tthe highest growth is projected to come from the global ultrafine titanium dioxide marketsegment, (the tio2 global market), which is forecast to grow at a CAGR of 4.1%. Thise tio2 market growth is mainly due to the increasing demand for ultrafine titanium dioxide from the cosmetics and paints and coatings industries based in Asia Pacific, owing to where there is strong demand from countries such as China and India due to rising disposable incomes.
North America was the largest region in the titanium alloys and ultrafine titanium dioxide market in 2018, accounting for 34.9% of the global market. It was followed by Asia Pacific and Western Europe. Going forward, the fastest growth in the titanium alloys and ultrafine titanium dioxide market will take place in Asia Pacific where it is forecast to grow at a CAGR of 4.9%, followed by Africa where growth at a CAGR of 4.0% is expected.
The USA is the largest country in terms of value in the titanium alloys and ultrafine titanium dioxide market. India and China are forecast to have the fastest growth, growing at CAGRs of 7.3% and 4.9% respectively.
The global market for titanium alloys and ultrafine titanium dioxide is concentrated. Major players in the market are Titanium Metals Corporation, National Industrialization Company (Tasnee), Allegheny Technologies Incorporated, Nippon Steel & Sumitomo Metal Corporation, Kronos Worldwide, Inc. and others.
The market for titanium alloys and ultrafine titanium dioxide is characterized by a high level of patent applications and grants. Examples include Boeing Corporation's August 2018 grant of a patent on an alpha-beta titanium alloy that may be used in wrought form, powdered form, or compacted and sintered form.
The best opportunities in the titanium alloys and ultrafine titanium dioxide market will arise in the titanium alloys segment which will add $295.2 billion of annual sales globally between 2018 and 2023, and in the USA where $126.2 billion of new yearly sales (25% of the global total) will be added by 2023. Strategies suggested by trends in the market include investing in low-cost alloys to capitalize on increasing demand for these alloys in the automobiles industry. Business strategies adopted by major companies in the titanium alloys and ultrafine titanium dioxide market include investing in expanding manufacturing operations, improving infrastructure and in acquisitions and mergers to strengthen their product and service offerings.
Read the full report: https://www.reportlinker.com/p05741957
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