Irving, Texas (PRWEB) September 30, 2012
Growth in the power, healthcare, construction, and nuclear sectors are likely to create opportunities for the titanium mill products market globally. The global titanium mill products industry experienced a good growth over the last five years and is expected to continue its growth momentum, reaching US $6.9 billion in 2017 with a CAGR of 5.3% over the next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global titanium mill products industry and presents its findings in “Global Titanium Mill Products Industry 2012-2017: Trend, Profit and Forecast Analysis.”
The titanium mill products industry is highly consolidated. North America dominates the industry. Some of the major players in this industry are Titanium Metal Corporation, ATI, RTI, and VSMPO-AVISMA. A combination of factors such as growth in related complementary industries and governmental regulations, cyclical fluctuations in titanium mill products prices, general economic conditions, and end-use markets is witnessed to impact the industry dynamics.
Lucintel’s market research indicates that a significant decline of 25% was witnessed during 2009 due to order backlog of major aerospace OEMs and also financial crisis had a significant impact over the demand of titanium mill products in related industries such as aerospace and defense; however, the market recovered and witnessed a growth of 15.2% in 2011 as there was increase in orders from Boeing and Airbus. North America and Asia represent good growth markets for titanium mill products over the forecast period, driven by growth of aerospace and defense and heavy spending for upgrading and extending their defense capabilities.
Increasing demand of titanium in aerospace and defense and chemical processing, cost effective and highly efficient technology supporting productivity, and favorable weight-to strength ratio are anticipated to boost the industry. The industry is expected to face certain challenges such as scarcity of raw material, rising cost of input materials, and high cost as compare to substitutes such as steel.
This study provides an overview of the global titanium mill products industry. The report tracks two market segments for four regions of global titanium industry.
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