Titanium Metal Market Research Report: by Type (Industrial Grade, Medical Grade, Others), by Application (Aerospace, Industrial, Medicinal Materials, Others), and Region – Global Forecast till 2023
Titanium is a solid and lightweight metal with properties of high quality, erosion resistance, and solidness. Its amalgams are in substantial interest in the aviation division yet the intrigue of its properties in military, chemical and medicinal applications is required to grow the extent of the titanium metal market. Extreme interest for lightweight and eco-friendly vehicles attributable to exacting guidelines is anticipated to goad the market. Developing utilization of titanium in gadgets and automotive industries can open up critical development openings in the titanium metal market. In any case, the mind-boggling expense of titanium can challenge market development. The global titanium metal market is growing at 6.17% CAGR during the forecast period (2018-2023) by reaching the valuation of USD 1,823 million by the year 2023.
The global titanium metal market is classified on the basis of its application and type. Based on its type, the market is bifurcated into medical grade, industrial grade, and others. The industrial grade section accounts for the largest market share owing to a huge growth in power generation, chemical processing, electronics sectors, and aerospace. On the basis of its key applications, the market is segmented into industrial, medicinal materials, aerospace, and others.
Geographically, the global titanium metal market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
TOHO TITANIUM CO., LTD. (Japan), Global Titanium Inc. (U.S.), OSAKA Titanium Technologies Co., Ltd. (Japan), and Metalysis (U.K.), ADMA Products, Inc. (U.S.), Precision Castparts Corp. (U.S.), AMETEK Inc. (U.S.), VSMPO-AVISMA Corporation (Russia), CRISTAL (Saudi Arabia), ATI (U.S.), among others are some of the major players in the global titanium metal market.