In April, Market Research Future released the "Global Titanium Alloy Market Status and Forecast of Development Trends in 2023", which has been affirmed internationally.
The report pointed out: At present, due to the many advantages of titanium alloys, including good heat resistance and flame resistance, and the high dependence on titanium in the aviation field, the international titanium alloy market is experiencing stable growth. In addition, in space manufacturing, marine cleaning, chemistry, medical treatment and other fields, there is also a wide range of demand, making the demand for titanium alloys grow steadily.
Market Research Future: hereinafter referred to as MRFR). In 2023, the prospect of titanium alloys is very bright and may show exponential growth (greater growth). In fact, as early as 2017, MRFR pointed out that from 2017 to 2023, the titanium alloy market was stable and profits increased steadily. This is indeed the case. The profits of titanium alloys have continued to rise from 2017 to 2020. MRFR said that we have reason to believe that the prospects of titanium alloys from 2020 to 2023 are also so bright. In addition, MRFR analysis believes that the main factors stimulating the rising profits of titanium alloys are the global demand for factories and the increasingly strict requirements for sewage (the environmental protection of titanium alloys is also very high). For example, titanium micro-media has reported that due to the increase in sulfur emission standards of the International Maritime Association, a large number of factories and enterprises have adopted titanium marine cleaners. In addition, the current technology of titanium alloy is also improving. The cost of titanium alloy is gradually decreasing, but the strength is increasing, which undoubtedly increases the competitiveness of titanium alloy again.
For all these reasons, MRFR believes that the market for titanium alloys will be very bright and more stable. Titanium alloy suppliers will increase production, and in order to continue to maintain their competitiveness and consolidate their market share, suppliers will continue to develop new products and technologies. This has also stimulated strategic and technical cooperation among suppliers. Experts predict that more companies will merge, acquire, and cooperate in 2020-2023. In fact, in October 2019, the Dutch Advanced Metallurgical Group (one of the AMG international metal industry giants) announced the acquisition of the American specialty alloys company (international specialty alloys Inc, which is a titanium alloy supplier).
Regarding the situation of titanium alloys in Asia, MRFR said that the titanium alloy market and demand in China, Japan and India dominate the Asian region. The Asian market is relatively large, and MRFR is very optimistic about the development of the titanium alloy market in the Asian region. "This will be a good opportunity for China, Japan and India." MRFR experts said.
The North American market is relatively stable, and the trend after the forecast will also be relatively stable. The growth index of titanium alloy in Europe may slow down. Experts believe that this is conducive to the long-term development of the European market.