Titanium Alloys Market Segmentation:
Micro Structure (Alpha Alloys, Near Alpha Alloys, Alpha + Beta Alloys, Metastable Beta Alloys)
The alpha alloys segment is expected to hold titanium alloys market share of over 36.5% by the end of 2035. The segment growth can be attributed to their low thermal expansion and high fire resistance coefficient. These properties along with their radiation resistance make them an ideal material for space industry applications, including rocket engines, spacecraft structures, and satellite components. Moreover, due to their low density and superior corrosion resistance in H2S and chloride conditions, alpha titanium alloys are becoming popular in the aerospace and space industries.
End use (Aerospace & Defense, Power Generation, Chemical Processing, Automotive, Marine, Fashion & Apparel, Oil & Gas Processing, Architecture, Medical, Sports)
The aerospace segment in titanium alloys market is estimated to garner a notable share in the forecast period. The growth can be attributed to several major factors, such as the swift increase in international defense accords, the exchange of fighter aircraft, and the growth of the aviation industry worldwide. Additionally, the proliferation of space programs and increased satellite launches have accelerated market expansion. According to the Space Foundation, with 223 launch attempts and 212 successful launches, global launch activity hit all-time highs for the third consecutive year. Compared to 2022, commercial launch activity rose by 50% in 2023. In addition to China, India, and Japan seeing higher activity, the U.S. saw a 33% rise in launch attempts. Titanium alloys are ideal for military, spaceship, and aircraft applications due to their exceptional properties, which include low weight, high tensile strength, and durability.
Our in-depth analysis of the global titanium alloys market includes the following segments:
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