Dublin, May 27, 2019 (GLOBE NEWSWIRE) -- The "Titanium Alloys And Ultrafine Titanium Dioxide Global Market Opportunities And Strategies To 2023" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
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 the highest growth is projected to come from the global ultrafine titanium dioxide market segment, (the tio2 global market), which is forecast to grow at a CAGR of 4.1%. The 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 Corporations 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.
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Titanium Alloys and Ultrafine Titanium Dioxide Market Characteristics
5.1This section gives definitions of the titanium alloys and ultrafine titanium dioxide market numbers, the processes and supply chain for titanium alloys and ultrafine titanium dioxide manufacturing and the distribution channels for titanium alloys and ultrafine titanium dioxide.
5.2. Titanium Alloys and Ultrafine Titanium Dioxide Market Definitions
5.3. Titanium Alloys And Ultrafine Titanium Dioxide Manufacturing Process
5.3.1.Titanium Sponge and Alloys Manufacturing
5.4. Ultrafine Titanium Dioxide Manufacturing Processes
5.5. Titanium Alloys And Ultrafine Titanium Dioxide Distribution Channels
6. Titanium Alloys and Ultrafine Titanium Dioxide Market Size and Growth
6.1. Market Size
6.2. Historic Market Growth
6.2.1.Drivers of the Market
6.2.2.Growth in the Electronics Industry
6.2.3.Increased Use of Titanium Alloys in Offshore Equipment
6.2.4.Restraints on the Market
6.2.5.Availability of Alternatives
6.3. Forecast Market Growth
6.3.1.Drivers of the Market
6.3.2.Economic Growth
6.3.3.Growth in the Premium Automobiles Industry
6.3.4.Increased Demand for Implants
6.3.5.Technological Advances
6.3.6.Restraints on the Market
6.3.7.High Machining Costs
6.3.8.Trade Protectionism
6.4. Global Titanium Alloys and Ultrafine Titanium Dioxide Market, By Type Segment
6.5. Global Titanium Alloys and Ultrafine Titanium Dioxide Market, Historic and Forecast, By Type Segment, 2014-2023,
7. Titanium Alloys and Ultrafine Titanium Dioxide Market Industry Trends and Strategies
7.1.1.Additive Manufacturing to Reduce Production Costs
7.1.2.Growing Adoption of Internet of Things (IoT)
7.1.3.Integration of Industrial Robotics
7.1.4.Technological Advances in Titanium Machining
7.1.5.Low-Cost Alloys
8. Titanium Alloys and Ultrafine Titanium Dioxide Market Patents
8.1. Titanium Alloys and Ultrafine Titanium Dioxide Patents
9. Global Titanium Alloys and Ultrafine Titanium Dioxide Market Comparison with Macro Economic Factors
9.1. Global Per Capita Average Titanium Alloys and Ultrafine Titanium Dioxide Market Expenditure
9.2. Per Capita Average Titanium Alloys and Ultrafine Titanium Dioxide Market Expenditure, By Country
10. Global Titanium Alloys and Ultrafine Titanium Dioxide Market Size, Percentage of GDP
10.1. Global Titanium Alloys and Ultrafine Titanium Dioxide Market Size, Percentage of GDP, By Country
11. Titanium Alloys and Ultrafine Titanium Dioxide Market Regional and Country Analysis
11.1. Global Titanium Alloys and Ultrafine Titanium Dioxide Market, By Region
11.2. Global Titanium Alloys and Ultrafine Titanium Dioxide Market, 2014-2023, Historic and Forecast, By Region
11.3. Global Titanium Alloys and Ultrafine Titanium Dioxide Market, By Country
11.4. Global Titanium Alloys and Ultrafine Titanium Dioxide Market, Historic and Forecast, By Country
12. Asia-Pacific Titanium Alloys and Ultrafine Titanium Dioxide Market
13. Asia-Pacific Titanium Alloys and Ultrafine Titanium Dioxide Market: Country Analysis
14. Indian Titanium Alloys and Ultrafine Titanium Dioxide Market, 2014-2023
15. Japanese Titanium Alloys and Ultrafine Titanium Dioxide Market, 2014-2023
16. Australia Titanium Alloys and Ultrafine Titanium Dioxide Market, 2014-2023
17. Western Europe Titanium Alloys and Ultrafine Titanium Dioxide Market
18. Eastern Europe Titanium Alloys and Ultrafine Titanium Dioxide Market
19. North America Titanium Alloys and Ultrafine Titanium Dioxide Market
20. South America Titanium Alloys and Ultrafine Titanium Dioxide Market
21. Middle East Titanium Alloys and Ultrafine Titanium Dioxide Market
22. Africa Titanium Alloys and Ultrafine Titanium Dioxide Market Overview
23. Titanium Alloys and Ultrafine Titanium Dioxide Market Competitive Landscape
23.1. Company Profiles
23.2. Allegheny Technologies Incorporated
23.3. Kronos Worldwide, Inc.
23.4. National Industrialization Company (Tasnee)
23.5. Nippon Steel & Sumitomo Metal Corporation
23.6. Titanium Metals Corporation
24. Key Mergers And Acquisitions In The Titanium Alloys and Ultrafine Titanium Dioxide Market
24.1. Alcoa Acquired RTI International Metals
24.2. Tronox Acquired Cristal
25. Global Titanium Alloys and Ultrafine Titanium Dioxide Market Opportunities
25.1. Global Titanium Alloys and Ultrafine Titanium Dioxide Market In 2023-Countries Offering Most New Opportunities
25.2. Global Titanium Alloys and Ultrafine Titanium Dioxide In 2023-Segments Offering Most New Opportunities
25.3. Global Titanium Alloys and Ultrafine Titanium Dioxide Market Strategies
25.3.1. Market Trend Based Strategies
25.3.2. Competitor Strategies
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