123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Titanium Metal Market Cagr Status, Market Size Estimation, Industry Share, Price, Growth Trend, 2023

Profile Picture
By Author: Avinash
Total Articles: 279
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Overview:

The Global Titanium Metal Market is taking long strides ahead with several sectors boosting its pace. Reasons behind the market getting a probable chance to score 6.17% CAGR value-wise and 5.36% CAGR volume-wise during the forecast period (2018-2023) are its features. Market Research Future (MRFR) made a detailed study of the market to get a hold of the market dynamics. It has corrosion-resistance, durability, and extraordinary strength but lightweight, which opened doors for its percolation into several associated sectors.
Its symbol is Ti, and the atomic number is 22. It can be used as an alloy with iron, aluminum, vanadium, molybdenum, and others. Its strength-to-density ratio is the highest among the metallic elements.

Get Free Sample @ https://www.marketresearchfuture.com/sample_request/7482

The Titanium Metal Market is going to get backups from several factors that would help the progress in the coming years. The automotive sector is one major factor that can impact market growth considerably. The sector is looking for strong but lightweight products to reduce carbon footprint owing to which titanium has substantial traction from the region. It also increases the fuel-efficiency of cars which is why governments are also promoting the use of it. But the Titanium Metal Market can get some difficult challenges in the guise of its high price. This could curb its market to reach considerably and restrain the expected growth. But its prolific use in the electronic sector can steer the Titanium Market out of any long-time sluggishness.

Segmental Analysis:

To get a comprehensive hold over the Titanium Metal Market, MRFR segmented it by Type and Application. The analysis further incorporates volume-wise and value-wise data for a holistic view of the market.

By Type, the Titanium Metal Market can be segmented into the industrial grade, medical grade, and others. Growing demand from aerospace, electronics, power generation, petroleum, and chemical processing sectors are reasons owing to which the industrial grade segment secured 49% of the global Titanium Metal Market in 2017. The segment could rise to a valuation of USD 881.9 million by 2023. The medical grade segment can scale USD 715.3 million with a 6.65% CAGR during the forecast period.

Have Any Query? Ask Our Expert @ https://www.marketresearchfuture.com/enquiry/7482

Based on the Application, the Titanium Metal Market includes aerospace, industrial, medicinal materials, and others. The aerospace segment had command over 62% of the Global Titanium Metal Market in 2017. By 2023, the segment could reach a valuation of USD 1,154.6 million and generate demand of 130.3 KT. The medicinal materials segment can achieve 6.17% CAGR over the forecast period and attain USD 237.1 million by 2023.

Competitive Landscape:

Leading companies designing the growth chart of the Global Titanium Metal Market are Precision Castparts Corp. (U.S.), ADMA Products, Inc. (U.S.), VSMPO-AVISMA Corporation (Russia), CRISTAL (Saudi Arabia), ATI (U.S.), OSAKA Titanium Technologies Co., Ltd. (Japan), AMETEK Inc. (U.S.), Global Titanium Inc. (U.S.), TOHO TITANIUM CO., LTD. (Japan), and Metalysis (U.K.).

Regional Analysis:

MRFR’s analysis of the Titanium Metal Market has a special eye on regions, namely, Europe, Asia Pacific (APAC), North America, Latin America, and the Middle East & Africa (MEA). This type of regional segmentation would help in the identification of growth pockets.

It is the APAC region that stands out from its competitors in terms of command over the market. The region has almost 41% of the global market under its control, and it is gaining significant traction from major industries aerospace, medical, construction, and chemicals. The growing demand for aircraft in the both commercial and defense sector is bolstering the regional market where it can achieve a valuation of USD 792.2 million by 2023.

North America has an extraordinary infrastructure for defense which is continuously generating demand for aircraft. The U.S. in the region spends a large amount of their budget in the defense sector, and private investment in the sector can assure huge growth in the coming years. The regional market can gain USD 498.4 million by 2023. The market is also getting triggered by the growing terrorist activities across the world.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

Total Views: 239Word Count: 757See All articles From Author

Add Comment

Business Articles

1. What Are 6 Reasons To Hire Web Developers For Your Ecommerce Website?
Author: itechscripts

2. These Are The Ten Things That Stain Your Teeth The Most
Author: Charlie Wellish

3. Complete Information About Commercial Security Systems
Author: dev patel

4. Hire Best Packers And Movers In India
Author: EnquiryMart

5. Things To Remember Before You Do A Home Up Gradation
Author: samiandsons

6. How To Keep The Old Charm With The New In Kitchen Remodeling?
Author: samiandsons

7. Global Food Grade Gases Market
Author: shankarmmr

8. Global Third-party Logistics Market – Industry Analysis And Forecast
Author: shankarmmr

9. Software-as-a-service (saas) Market
Author: shankarmmr

10. The Ultimate Guide To Home Alarm System Installation In Uk
Author: dev patel

11. Global Automotive Wiring Harness Market
Author: shankarmmr

12. Global Nanophotonic Market – Industry Analysis And Forecast
Author: shankarmmr

13. Global Chewing Gum Market: Industry Analysis And Forecast
Author: shankarmmr

14. Fintech Blockchain Market – Global Industry Analysis And Forecast
Author: shankarmmr

15. Global High Temperature Insulation Materials Market
Author: shankarmmr

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: