Commercially Pure Titanium Market Size – USD 3.15 Billion in 2019, Growth - CAGR of 4.1%, Trends – Increasing investments in the defense sector.

Growing Demand For Energy-Efficient Aircraft For Military And Commercial Applications Is Likely To Propel Market Growth.

The global Commercially Pure Titanium Market is forecast to reach USD 4.42 Billion from USD 3.15 Billion in 2019, showcasing a growth rate of 4.1% through 2027. The market growth is driven by a plethora of factors, including increasing investment in fighter aircraft, expansion of the global aviation industry, rise in the number of space exploration programs, and technological advancements in aircraft manufacturing. 

Titanium is 30% stronger and nearly 50% lighter than steel. The metal exhibits high corrosion resistance, and when exposed to the atmosphere, titanium forms a firm, tenacious oxide film that offers immense resistance from most of the corrosive materials. Commercially Pure Titanium is witnessing high demand as it not only increases the range of aircraft but also decreases its fuel use significantly. A lighter aircraft requires less fuel for flying, enabling fewer refueling stops and, subsequently, longer continuous flight. All these benefits offered by the material is expected to boost Commercially Pure Titanium market growth.

Increasing fuel prices and the current slowdown of the economy, globally, is leading to a growing need for more fuel-efficient aircraft. Considering titanium’s weight-to-strength proportion, planes made out the metal are lighter and expends less fuel, which is why several airliners are switching to titanium for making several parts of the aircraft. Increasing investments in fighter planes and military helicopters from various countries across the globe will supplement Commercially Pure Titanium market share through 2027. Additionally, the proliferation of advanced technology to develop highly efficient planes will foster market revenue share over the forecast period. For instance, in February 2020, General Atomic Aeronautical systems, an aeronautics company that provides unmanned aerial vehicles radar solutions to the U.S. military and for commercial applications globally, had performed the first test flight of a metal 3D printed part – a Neighborhood Assistance Corporation of America (NACA) inlet made in Titanium Ti6AI4V on a Sky Guardian RPA (Remotely Piloted Aircraft).

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Top Companies: Acnis International, Bralco Metals, Supra Alloys, Kobelco Group, Gould Alloys, Precision Castparts Corporation, Metalweb, Alcoa, Vsmpo-Avisma Corporation, And Paris Saint-Denis Aero, Among Others.

The Global Commercially Pure Titanium Market Is Forecast To Reach Usd 4.42 Billion From Usd 3.15 Billion In 2019, Showcasing A Growth Rate Of 4.1% Through 2027. 

Further Key Findings From The Report Suggest:

Based On Application, The Structural Frames Segment Held Contributed Significantly Towards The Global Commercially Pure Titanium Market Share In 2018 And Are Is Estimated To Maintain Its Dominance Over The Analysis, Delivering A Cagr Of 4.2%.

Based On End-Use, The Commercial Segment Is Likely To Account For The Majority Revenue Generation, Exhibiting A Cagr Of 3.7% Through 2027.

In The Regional Landscape, The Asia Pacific Region Is Estimated To Witness The Fastest Growth Rate Of 4.7% Through 2027. According To Iata, China Is Expected To Topple The United States As The Largest Aviation Industry In Terms Of Air Traffic, By The End Of 2024. The Agency Also Estimated That An Additional 1.8 Billion Passengers Per Year Would Be Conveyed To And From Within The Region By 2035, Which May Positively Impact Regional Industry Growth.

Regional Outlook

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest Of Eu)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest Of Apac)
• Latin America (Chile, Brazil, Argentina, Rest Of Latin America)
• The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest Of Mea)

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Market Segmentation:

Material Type Outlook (Volume, Kilo Tons; Revenue, Usd Million; 2017-2027)

• Commercially Pure Titanium
• Titanium Alloys

Application Outlook (Volume, Kilo Tons; Revenue, Usd Million; 2017-2027)

• Structural Airframes
• Engines
• Others

End-User Outlook (Volume, Kilo Tons; Revenue, Usd Million; 2017-2027)

• Military
• Commercial
• Others

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Table Of Contents:

Report Overview

1.1 Research Scope

1.2 Key Commercially Pure Titanium Market Segments

1.3 Major Players

1.4 Market Analysis By Product Type

1.5 Market Analysis By Application

1.6 Report Timeline

Global Growth Trends

2.1 Global Commercially Pure Titanium Market Size

2.2 Latest Regional Market Trends

2.3 Emerging Growth Trends

Competitive Outlook

3.1 Global Commercially Pure Titanium Market Key Players

3.2 Global Commercially Pure Titanium Size By Manufacturers

3.3 Products Of Major Players

3.4 Entry Barriers In The Commercially Pure Titanium Market

3.5 Mergers, Acquisitions, Joint Ventures, And Other Strategic Alliances

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