By Daniel Webster, dWeb.News Publisher
DUBLIN–(BUSINESS WIRE)–The “Titanium Market by Product Type (Titanium Dioxide, Titanium Metal), By End-use Industry and Region (North America, Europe, Asia-Pacific, MEA & South America) – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global titanium market size is projected to grow from USD 24.7 billion in 2021 to USD 33.5 billion by 2026, at a CAGR of 6.3% between 2021 and 2026.
The demand for titanium dioxide in many end-use industries is high. It can be found in paints & coatings and plastics & rubber. However, it will grow to USD
and USD 2026. This represents a 6.3% CAGR between 2021 and 2026. However, the global pandemic disease COVID-19 has disrupted the operations of titanium industries which has decreased the demand for titanium in 2020.
Titanium Metal Product Type is the fastest-growing Product Type of Titanium, in terms of value.
The titanium metal finds wide uses in various end-use industries. The major industries are aerospace & defense and chemical & process industrial, energy & powerful, desalination, as well as other end-use industries. These end-use industries will drive the market for titanium metal over the forecasted time.
Paints & Coatings is the fastest-growing end-use industry of titanium dioxide, in terms of value.
Titanium dioxide is utilized in paints and coatings for better coverage, brightness, whiteness, opacity, and durability. It is used in protective coatings and wood finishes, architectural coatings, car OEM coatings, general industrial finishes as well as powder coatings. Paints & coatings are driven by the rapidly growing housing and construction sector, an increasing gross domestic product, ongoing rapid urbanization, rising disposable income, and a rapidly increasing disposable income. Technological advancements in automotive, wood, as well as other industrial sectors, support market growth.
Aerospace & Defense is the fastest-growing End-use Industry of Titanium Metal, in terms of value.
Titanium metal is majorly used in the production of turbine engines apart from airframes and other components. Titanium is used in turbine engines to make components like compressor blades, compressor blades, disks and hubs. Spacers and seals are also made from titanium. By weight, these turbine engines constitute about 25% of titanium and its alloys. Other than engine components, titanium is used to make fasteners, landing gear supports, springs and fail-safe straps. There are also many internal bulkheads and wing support components that are used in the aerospace industry.
APAC is the fastest-growing Titanium market
APAC is projected to register the highest CAGR in terms of value in the global titanium market during the forecast period. This region’s growth in the titanium market is supported by the recovery of end-use industries and the development of industrial technology solutions for different industries.
Due to COVID-19, titanium producers and numerous companies have halted their production sites across various countries that has led to reduced demand for titanium dioxide and titanium metal, which affected the titanium demand in APAC countries.
, Thriving Construction Sector Worldwide
. . Uncertainty about the Safety of Titanium Dioxide.
Recovering Aerospace Market
Increasing Number of Aircraft Deliveries
Thriving Construction Sector Worldwide
Increasing Trend to Develop Lightweight Vehicles
High Cost of Titanium Metal
Stringent Environmental Policies of Governments Regarding the Production of Titanium Dioxide
Increasing Restrictions on the Sulfate Process
Growing Adoption of Titanium Powder in Additive Manufacturing
Improvement in the Fly-To-Buy Ratio
High Adoption of Ultrafine Particles of Titanium Dioxide in Cosmetics and Construction Industries
Uncertainty About the Safety of Titanium Dioxide
Fluctuations in the Price of Raw Materials
Maintaining an Uninterrupted Supply Chain due to COVID-19
Allegheny Technologies Incorporated (Ati Metals)
Amg Advanced Metallurgical Group Nv
Avicnet Co. Inc
Baoji Titanium Industry Co., Ltd.
Cinkarna Celje D.D.
Evonik Industries Ag
Grupa Azoty Sa.
Iluka Resources Limited
Ineos Group Ltd
Ishihara Sangyo Kaisha, Ltd.
Kerala Minerals and Metals Ltd.
Kish Company, Inc.
Kronos Worldwide, Inc.
Lomon Billions Group
Osaka Titanium Technologies Co. Ltd.
Shanghai Jiuta Chemical Co. Ltd.
Swastik Interchem Private Limited
The Chemours Company
Titanium Metals Corporation
Toho Titanium Co. Ltd.
Tronox Holdings, plc
Ust-Kamenogorsk Titanium and Magnesium Plant Jsc (Uktmp)
Venator Materials, plc
For more information about this report visit https://www.researchandmarkets.com/r/d0l65w