Titanium Alloy Market Size

Titanium Alloys Market size was USD 10.7 billion in 2024 and is estimated to reach USD 19.9 billion by the end of 2037, expanding at a CAGR of 4.9% during the forecast period, i.e., 2025-2037. In 2025, the industry size of titanium alloys is estimated at USD 11.2 billion.

The titanium alloys market is experiencing significant growth, driven largely by a surge in global initiatives aimed at developing fuel-efficient aircraft. As the aerospace industry seeks to enhance performance and reduce environmental impact, manufacturers are increasingly turning to titanium alloys due to their lightweight properties, strength, and corrosion resistance. For instance, the International Civil Aviation Organization (ICAO) has set a global goal to increase the fuel efficiency of international aviation by an average of 2% per year between 2021 and 2050. At its 2010 session, the ICAO endorsed CNG2020 as a mechanism to become greenhouse gas (CO2) neutral starting in 2020 to accomplish this aim.

Also, titanium is ideally suited for use in the hostile environment of space due to its thermal stability and resistance to radiation. They are used in many structural and mechanical components of space missions, including the International Space Station and Mars rovers, to guarantee mission success and endurance in space exploration. Moreover, titanium alloys are used in critical applications in power plants, including heat exchangers and turbines, due to their resistance to heat and corrosion. The rise in renewable energy projects, such as offshore wind turbines, also supports market growth.