Global Titanium Mill Products Market 2016-2020
About Titanium Mill Products
Titanium is a transition metal that is mined from rutile and ilmenite ores. It has a high melting point and offers excellent strength-to-weight ratio, corrosion resistance, and high thermal conductivity.
The commercial aerospace and defense sectors are the prominent end-users of titanium mill products. The metal is extensively used in the production of super light, high-speed spacecraft; aircraft; satellites; and ships. Chemical processing plants, healthcare, and power generation sectors are the other prominent users for titanium-milled products.
The demand for titanium within the aerospace market can be attributed to the demand for new-fangled and innovative aircraft designs with increased carbon fiber reinforced polymer (CFRP) composition.
Technavio’s analysts forecast the global titanium mill products market to grow at a CAGR of 3.78% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global titanium mill products market for 2015-2020. The report considers the sales volume of vendors that supply titanium mill products to calculate the market size.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Titanium Mill Products Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Titanium Mill Products Market: Alcoa Inc., Allegheny Technologies (ATI) Inc., Baoji Titanium Co., Ltd., Precision Castparts Corp., and VSMPO-AVISMA Corp.
Other Prominent Vendors in the market are: CDM Group (Shanghai CDM Titanium Industry), Hangzhou King Titanium, Jiangsu Well Titanium, Kobe Steel, Luoyang Sunrui Wanji Titanium, Shaanxi Jin Han Precious Metals, and Shenyang Xinghe Titanium Products.
Commenting on the report, an analyst from Technavio’s team said: “The new generation of large passenger aircraft such as A350 and A380 from Airbus and the B787 from Boeing use CFRPs in the manufacture of airframe components. CFRPs are well suited with titanium, but not with other metals such as aluminum. Thus, titanium will remain a key material for the manufacture of these components during the forecast period. Carbon fiber is woven with a textile material and coated with an epoxy resin, which is then allowed to cure. The resulting material is strong due to high strength-to-weight ratio. Carbon fiber reinforced polymers are usually used in the manufacture of expensive sports cars that require strong and light materials.”
According to the report, the rising demand for titanium mill products in aircraft carriers, defense equipment, and chemical processing industries such as oil and gas, power generation, and healthcare segments is driving the market growth.
Further, the report states that slow machining processes and high buy-to-fly ratio ratio result in the high cost of titanium fabrication. The hardness of titanium also makes it more difficult to machine than traditional aluminum. This presents a challenge that is similar to machining high-strength steel.
Alcoa Inc., Allegheny Technologies (ATI) Inc., Baoji Titanium Co., Ltd., Precision Castparts Corp., VSMPO-AVISMA Corp, CDM Group (Shanghai CDM Titanium Industry), Hangzhou King Titanium, Jiangsu Well Titanium, Kobe Steel, Luoyang Sunrui Wanji Titanium, Shaanxi Jin Han Precious Metals, Shenyang Xinghe Titanium Products.
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