Newly released report by Fact.MR establishes that the Alpha Titanium Alloys market revenues will grow moderately between 2021 and 2031, following a CAGR of 3.5% to reach US$ 5.6 Bn. Sluggish progress in the global automotive industry in the recent past has led the market to embark on a modest expansion trajectory.
According to historical data, the market for Alpha Titanium Alloys expanded at around 3% CAGR, closing in at approximately US$ 4 Bn by the end of the 2016-2020 historical period. However, extensive applications in the global aerospace & defense sector will majorly sustain demand in forthcoming years.
Attributed to withstand high temperatures and anti-corrosion properties of Alpha Titanium Alloys have rendered them best suited for manufacturing aircraft parts. Emerging economies such as India and China especially exhibit major promises. During FY 2018-19, India spent US$ 1.44 billion on strengthening its aerospace and defense sector, according to IBEF, set to increase to US$ 23.49 billion by 2025. Likewise, according to SIPRI, China spent US$ 252 billion on military expenditure in 2020, a lot of which was directed towards strengthening its aircraft fleet.
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The study identifies key opportunities in different key regions. It provides insights into key trends and favorable macroeconomic frameworks in prominent revenue-generating regions. Some of the key regions and countries covered in the analysis are:
- North America
- Latin America
The report segments the Alpha Titanium Alloys market based on major offerings by various players. It provides a detailed scenario of the existing demand and consumption patterns of various key product types. It also provides readers with the prevailing pricing structure in various regions, emerging manufacturing/production trends, and recent technological advancements in products/services.
The key segments covered are:
- Alpha Alloys
- Near Alpha Alloys
- Alpha + Beta Alloys
- Metastable Beta Alloys
The study takes a closer look at the nature of demand in various key application areas and highlights major technological innovations in particular to certain areas. It also takes a closer look at
- Aerospace & Defence
- Power Generation industry
- Chemical Processing
The study on the Alpha Titanium Alloys market provides a detailed profile of offerings by key players, their key strategies, recent mergers and acquisitions, and major collaboration deals. Companies covered in the study include
- Altemp Alloys, Inc.
- Haynes International Inc
- Global Titanium Inc.
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Key Takeaways from the Market Study:
- The global Alpha Titanium Alloys market is anticipated to add 1.4x value by 2027 as compared to 2021.
- U.S to be an opportunistic market, yielding around 50% of global market revenue
- Alpha alloys to grab major eyeballs, reaching US$ 1.82 Bn as of 2019
- Aerospace to emerge as the fastest growing application area- accounting for 3 out of 5 sales
- China to register a CAGR of 4% across the 2021-2031 assessment period
“Rising investments in the electric vehicles segment and evolving aerospace industry will fuel the demand for light weight nanomaterials, thereby increasing the demand for Alpha Titanium Alloys in forthcoming years.” comments a Fact.MR analyst
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.
- In November 2020, Allegheny Technologies Inc. completed its acquisition of Ladish Co. Inc., in $883-million cash and common stock. The merger highlights the companies’ involvement in supplying materials and components to aerospace, defence, and industrial markets.
- In April 2017, Kobelco Construction Machinery and Kobelco Cranes merged their businesses. Kobe Steel separated the two businesses in 2004 after Kobelco Construction combined with Case New Holland to manufacturer excavators. This merger is anticipated to improve business efficiency, strengthen product development capabilities, and bolster global development in the forthcoming time.
How Insights and Analysis by Fact.MR Make Difference?
The in-depth assessment of various growth dynamics of the Alpha Titanium Alloys market and insights on market estimations help all market participants to stay ahead in the curve of growth with a worldwide economic impact of COVID-19. Some of the insights that can make the difference are:
- Most rapidly expanding region and the top revenue-generating region.
- Trends that are outliers to the historical growth of various regional markets.
- Products, services, and technologies that will attract sizable research and investment funding by governments of different countries
- Macroeconomic dynamics that may make a characteristic change in the growth trajectory of the overall Alpha Titanium Alloys market.
Apart from these insights, the authors of the report by Fact.MR shed light on the following dynamics and answers relevant questions:
- What is the share of the most lucrative region in the global Alpha Titanium Alloys market by the end of the forecast period?
- Which is the most profitable product segments for most players?
- Will top end-use industries continue to contribute sizable shares to the global Alpha Titanium Alloys market?
- Which regulatory frameworks in developed markets will change the course of strategies by top international players?
- Which microeconomic trends will be key to the expansion of new markets over the forecast period?
- Which government policies can prove to be a game-changer for new entrants?
- Which technology trends might disrupt the demand in key end-use industries?
- Which application areas are most likely to see innovation in the near future?
- What is the intensity of competition and degree of consolidation in market shares, and will these remain the same throughout the forecast period?
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