Market Forecast by Application (Aerospace & marine, medical, industrial, energy, pigments, additives & coatings, paper & plastics, and others), by Product Type (titanium concentrate, ferrotitanium, titanium sponge, titanium tetrachloride, titanium pigment, and others), By Regions (Latin America, North America, Europe, Asia Pacific, Middle East, and Africa) and Competitive Landscape
|Product Code: ETC054684||Publication Date: May 2022||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 300||No. of Figures: 90||No. of Tables: 30|
Global Titanium Market report comprehensively covers the market by Product Type, application and Regions. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high growth areas, and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Global titanium market has witnessed growth on account of the increase in production of new aircraft, the rise in defence products, and the increase in automotive production. An increase in the population using passenger aircraft, innovative product development, mode of transport, increase in the electric vehicle, growing affordability along with increasing income, and increasing demand for SUV’s and lightweight vehicles leads are expected to propel the demand for the market.
According to 6Wresearch, Global Titanium Market size is anticipated to register growth during 2020-2026. The introduction of new production facilities in China is also expected to proliferate the production rate of titanium. The sulphate process is expensive owing to rising environmental issues. Moreover, the carbo-chlorination is costlier but environment friendly which will further shift the market towards the sulphate process. This will also create transitioning issues for companies. The outbreak of COVID-19 negatively impacted the construction sector owing to causing a shortage in labour and disruption in the supply chain. The slower completion of projects owing to the unavailability of raw materials and higher material costs hampered the development of the market.
On the basis of application, aerospace & defence is the largest industry segment, however, the COVID-19 has disrupted the growth of the industry.
On the basis of region, Asia Pacific accounted for the highest revenue share in the overall Titanium Market. Moreover, China is the largest contributor on the back of rising demand from the chemical, high-end aerospace, medical and environmental protection sector.
The report provides a detailed analysis of the following market segments: