Technological advancements and rising demand for high tensile and corrosion resistence material for enhanced durabiliy are encouraging the growth of the market.
Market Size –
USD 1.66 Billion in 2020, Market Growth - CAGR of 4.1%, Market Trends
– Rising demand from aerospace industry
The Titanium
Sponge for Aerospace & Defense Market is forecast to reach USD
2.27 Billion by 2028, according to a new report by Reports and Data. Titanium
sponge is a form of titanium that is brittle and porous in nature. It shows
high elasticity, with a high strength-to-weight ratio. It is utilized as a base
for titanium billets, alloys, ingots, and others. Moreover, it shows low
electrical and thermal conductivity and is one of the usual corrosion-resistant
structural metals.
Titanium sponge is achieved by the administration of the
Kroll process on raw titanium ore. The obtained titanium sponge has various
impurities. These impurities usually are nitrogen, hydrogen, chlorine, silicon,
oxygen, iron magnesium, among others.
PMC (Polymer matrix composite) compatibility is among the
leading factor influencing the expansion and designing of aircraft due to the
growing use of composites for the aircraft structures. Unlike aluminum, carbon,
and its low alloy steels that produce high galvanic potential, Titanium is
compatible with the carbon fibers in the PMC.
Utilization of parts made from these material alloys in
fuselage frame, doorframes, seat rails, floor beam, engine mounts, turbines,
and other such components is anticipated to surge the demand further.
Resistance to fire, corrosion & shock, lightweight, low maintenance cost,
biocompatibility and recyclability are among the various characteristics of
titanium sponge. Increased emphasis on developing the performance of commercial
and military aircraft by reducing the overall aircraft weight and improving
fuel efficiency is the principal factor influencing the Titanium sponge demand.
The Asia Pacific region is forecasted to register the
highest CAGR of 4.2% during the forecast period. Soaring demand from economies
such as Japan, China, and India are encouraging the market demand in the APAC
region. The largest consumer of magnet wires is China and is expected to
maintain its position in the future years.
Key participants
include Tangshan Tianhe, Zunyi, ZTMC, Shuangrui Wanji, VSMPO AVISMA, Solikamsk,
OSAKA, UKTMP JSC, The Kerala Minerals & Metals Ltd., Toho Titanium, and
Timet. BAOJI TITANIUM INDUSTRY CO., LTD.
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Further key findings from the report suggest
- Titanium
sponge is mostly used in liquid propellant tanks of launch vehicles, gas
bottle/liners, intertank structures, and interface rings for satellites in
the aerospace and defense industries.
- It
is an essential material in the fabrication and production process of
various components and parts in the aerospace and defense industry.
- The
aviation grade metals need a range of testing methods for suiting the
materials for aerospace requirements.
- For
fitting into these tests, the most effective method is to produce
high-grade material, also referred to as aerospace grade that has purity
levels of over 99.7%.
- The
high-grade category is valued at USD 0.45 billion in 2020 and is estimated
to reach USD 0.64 at the highest CAGR of 4.3% during the forecast period.
- High
grade with high aluminium content is primarily used in applications such
as engine parts and aircraft fuselage.
- The
application in military aircraft is estimated to witness the highest CAGR
of 4.4% during the forecast period.
- The
rapid growth may be due to the enhanced application outlook in
reconnaissance, aerial warfare, surveillance, and ability to provide
supplies to isolated areas in military operations.
- The
surge in emphasis for effective operations will enhance the application of
Ti sponge in military aircraft, especially for airframes.
- Various
companies have adopted several strategies, including mergers,
acquisitions, and partnerships to hold ongoing trails and come up with new
developments in the market.
- For
example, in August 2015, the Indian government fully approved the
operation of The Kerala Minerals & Metals Ltd., with a primary
production capacity of 500 tons.
- Due
to this development, India was the seventh country across the globe that
has its in-house Ti generation convenience.
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Titanium Sponge for Aerospace & Defense Market can bring difference to your
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Summary
For the purpose of this report, Reports and Data have
segmented into the Titanium Sponge for Aerospace & Defense Market on the
basis of Category, Technology, Application and Region:
Category Outlook (Volume, Kilo Tons, and Revenue, USD
Billion; 2020-2028)
- High
Grade
- Medium
Grade
- Low
Grade
Technology Outlook (Volume, Kilo Tons, and Revenue, USD
Billion; 2020-2028)
- Purification
- Reduction
- Process
automation and data logging
- Ejection
Application Outlook (Volume, Kilo Tons, and Revenue, USD
Billion; 2020-2028)
- Commercial
Aircraft
- Military
Aircraft
- Naval
Ship
- Armor
Plating and Missile
- Others
Regional Outlook (Volume, Kilo Tons, and Revenue, USD
Billion; 2020-2028)
- North
America
- Europe
- Asia
Pacific
- MEA
- Latin
America
Key Questions Answered In The Report
1.
What
will be the market size and growth rate in the forecast year?
2.
What
are the key factors driving the global Titanium Sponge for Aerospace &
Defense market?
3.
What
are the risks and challenges in front of the market?
4.
Who
are the key players in the global Titanium Sponge for Aerospace & Defense
market?
5.
What
are the trending factors influencing the market shares?
6.
What
are the key outcomes of Porter’s five forces model?
7.
Which
are the global opportunities for expanding the global Titanium Sponge for
Aerospace & Defense market?
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you for reading our report. The report can be customized according to the
clients’ requirements. To know more about the report, kindly get in touch with
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Table of Contents:
- Global Titanium Sponge for
Aerospace & Defense Market Overview
- Economic Impact on Industry
- Market Competition by Manufacturers
- Production, Revenue (Value) by
Region
- Market Effect Factors Analysis
- Industrial Chain, Sourcing
Strategy and Downstream Buyers
- Supply (Production), Consumption,
Export, Import by Regions
- Production, Revenue (Value), Price
Trend by Type
- Global Titanium Sponge for
Aerospace & Defense Market Forecast
- Global Titanium Sponge for
Aerospace & Defense Market Analysis by Application
- Manufacturing Cost Analysis
- Marketing Strategy Analysis,
Distributors/Traders
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report best suited for your needs.
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