Titanium Powder Market - By Product (Pure Powder, Alloyed Powder), By Grade (Grade 2, Grade 5, Grade 23), By Application (Medical, Automotive, Aerospace & Defense, Electronics) & Global Forecast, 2023-2032

Titanium Powder Market Size

Titanium Powder Market size was worth USD 1.2 billion in 2022 and is projected to expand at 14.9% CAGR from 2023-2032. Rising medical applications of titanium powder to accelerate industry growth.
 

Increasing focus on R&D and innovation in the field of healthcare and medicine is expected to foster lucrative demand for titanium powder. The medical sector is undergoing a radical transformation with a growing emphasis on high-performance technological interventions and state-of-the-art medicinal equipment. Over the past few decades, titanium has emerged as a promising metal candidate in medical and dental use cases due to its exceptional strength-to-weight ratio, corrosion resistance, and high fatigue limit as compared to other metals, such as stainless steel. The ongoing breakthroughs in the development of low-cost titanium for medical and dental devices to offer more affordable, durable and longer shelf-life benefits will complement the industry outlook.
 

Difficulties in machining may hamper demand for titanium powder

The increasing concerns associated with machining difficulties of titanium could have a negative effect on the titanium powder market value. Titanium is a poor heat conductor, hence necessitates a massive amount of coolant throughout processing. Additionally, titanium is highly reactive and therefore needs to be operated carefully, while avoiding contact with external phenomena. Under tool pressure, titanium is bound to deflect owing to its low modulus of elasticity, ultimately increasing the risk of damage and excessive heat generation, thereby negatively influencing the market expansion.
 

Titanium Powder Market Analysis

Titanium powder market valuation from aerospace & defense applications is poised to surpass USD 2 billion by 2032. The advent of additive manufacturing in the development of high-tech aircraft components such as landing gear, cabin interior components, jet engines, fuselages, and turbine parts is driving the demand for titanium powders. Lately, aerospace manufacturers are rapidly adopting advanced technologies to design complex aircraft structures with greater fuel efficiency, performance, reliability, and shorter lead time. With growing geopolitical tensions and power struggles to achieve technological and military lead, several economies are infusing massive funds to boost innovation.
 

Titanium powder market valuation from grade 5 powders is projected to exhibit 15.4% CAGR between 2023-2032. Grade 5 titanium powders are extensively used to manufacture different products in medical, chemical, marine, and aerospace processing applications owing to their corrosion resistance. This grade of titanium offers a superior strength-to-weight ratio and is suitable for cryogenic temperature conditions. Moreover, grade 5 powders are highly versatile and are used to design technical components, such as marine parts, sports goods, and high-performance automotive units. This category of titanium also offers multiple advantages right from excellent biocompatibility and weldability to resistance and crack formation.

In terms of revenue, the titanium powder market share from alloyed powder is estimated to exceed USD 3.2 billion by 2032. Alloy-based titanium powders are experiencing a surge in demand owing to their superior functional characteristics, such as higher tensile strength, lightweight, and ability to withstand extreme temperatures. They are increasingly used in the manufacturing of highly stressed components such as high-end sports equipment, bicycles, military equipment, medical devices, home appliances, sports cars, spacecraft, aircraft, and connecting rods. Thus, hefty investments in the defense and military sectors along with the growing need for large manufacturing output will propel the demand for alloy powders.
 

Asia Pacific titanium powder market size is anticipated to record 15% CAGR from 2023-2032 driven by the expanding automotive sector across countries such as India, and China. According to the China Association of Automobile Manufacturers (CAAM) data, car production surpassed 27 million units in 2022, showcasing a 3.4% y-o-y growth, whereas car sales increased by 2.1% to 26.86 million units. Meanwhile, India exported a total of 56,17,246 automobiles in 2021-22, 35.9% higher than the 2020-21 export, as per the Ministry of Commerce & Industry. Moreover, the increasing use of titanium powders in the additive manufacturing of human cells and the development of novel cures for critical illnesses will accelerate regional product application.
 

Titanium Powder Market Share

Some of the leading companies in the global titanium powder market include

• Advanced Metallurgical Group
• N.V.
• Sandvik AB
• ECKART TLS
• North Steel Co.
• Kymera International
• MEPCO
• AP&C
• Praxair S.T. Technology, Inc.
• OSAKA Titanium Technologies Co., Ltd.
• Global Titanium Inc
• Tronox Inc. (Cristal Metals)
• ADMA Products Inc.
• IperionX

These market contenders are focusing on the expansion of their production capabilities to address the market need and increase customer reach.
 

Impact of the COVID-19 pandemic

The COVID-19 crisis negatively affected the market dynamics with unprecedented supply chain disruptions. The emergence of the pandemic introduced novel challenges for manufacturing facilities in performing routine operations. Due to lockdown restrictions, social distancing and capacity restraints, several manufacturing units were forced to either work in a limited capacity or shut down operations temporarily. This scenario led to a sudden drop in demand for titanium powders across different end-user sectors including aerospace, automotive, and healthcare. Furthermore, pandemic-driven inflation and skyrocketing metal prices escalated the existing hindrances.
 

The Titanium Powder market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD Million from 2018 to 2032 for the following segments:

Click here to Buy Section of this Report

By Product

• Pure powder
• Alloyed powder

By Grade

• Grade 2
• Grade 5
• Grade 23
• Others

By Application

• Medical
• Automotive
• Aerospace & defense
• Electronics
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa