According to the latest research by Future Market Insights, Anodized Titanium is set to witness significant growth during the forecast period 2021-2031. Demand for Anodized Titanium will witness significant recovery in a shorter period, with an optimistic growth outlook. Aviation, Automotive, and Biomedical Treatment are the most lucrative markets, creating robust opportunities and providing momentum for market growth during the forecast period.
What is Driving the Demand for Anodized Titanium?
Evolving end-user demand for lightweight and high-performance materials that can withstand extreme thermal conditions is a key factor driving demand in the aviation industry. The growing biomedical treatment activities globally continues to drive the demand in the medical and healthcare sector. Automotive Industry continues to be a lucrative avenue for manufacturers as Anodized Titanium is lightweight whereas possesses approximately the same strength as Steel, thus it is finding increasing adoption by vehicle manufacturers.
In addition, the shift in the automotive industry towards increasing use of lightweight & high strength materials to improve fuel efficiency is stimulating demand from the automotive industry
However, biomedical treatment activities such as orthopedic surgeries require precision, quality, and compliance to the highest degrees along with the higher cost of the metal comparatively, which has remained a longstanding challenge for the manufacturers. This challenge keeps the market untouched for local players.
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Aviation Sector Recovery Likely to Augment Anodized Carbon Sales
Aircraft production and aviation activities were vastly impacted by the COVID-19 outbreak. This has also had its effects on the production of anodized titanium as the demands were significantly muted. However, with the improving conditions the aviation industry will also witness a substantial rate of recovery in the next few quarters, creating opportunities for the manufacturers.
Also, Anodized titanium is also extensively used in healthcare sector, and the sector has continued to maintain demand levels, providing manufacturers key revenue stream, although levels were lower than normal since the healthcare sector was quite overwhelmed with the crisis situation due to the ongoing pandemic.
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The US and Canada Anodized Titanium Market Outlook
The US is a key market for Anodized Titanium manufacturers. The US market, especially the aviation sector, has had a significant impact from the COVID-19 pandemic. However, demand is likely to remain comparatively slow in the next couple of years, as several end-use industries begin to make a gradual recovery from the worst effects of the pandemic.
Demand for in the US and Canada will be led by the Aerospace and Biomedical Treatment Industry. Commercial aerospace will account for slow demand till at least 2024, as new aircraft orders remain on hold given the crisis of the pandemic. However, this sluggishness will be compensated to some extent by demand from the US Biomedical Treatment sector. The US and Canada Biomedical Treatment spending is not likely to reduce drastically in 2022 and beyond, and this will continue to benefit Anodized Titanium companies.
Europe Demand Outlook for Anodized Titanium
Many countries in the EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, as is the case in the US and Canada, the Biomedical Treatment sector in the EU will continue to drive the demand for anodized titanium
Due to the COVID-19 challenges, most European countries have announced increased funding for the medical sector by increasing the number of hospitals and medical equipment which can emerge as a beneficial factor for the manufacturers in the long term.
However, the European automotive production will also recover at a substantial rate with the optimistic growth outlook in long-run creating great opportunities for anodized titanium manufacturers
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Who are the Manufacturers and Suppliers of Anodized Titanium?
Some of leading Manufacturers and Suppliers include
- HPL Stampings
- G & J Steel & Tubing
- Light Metals Coloring
- Leatherwood Manufacturing
- Aalberts Surface Technologies
- AOTCO Metal Finishing
- SIFCO ASC
- In’Tech Industries
- Y?W Technologies
Many leading manufacturers and suppliers have longstanding contracts and approvals for aerospace OEMs. For example, Techmetals has secured OEM Approvals from Boeing, Rockwell Collins, GE Aviation, Raytheon, Woodward, UTC Aerospace Systems, and L3 Communications. Thus the companies are focusing on developing long term relationships with their key customers to maintain sustainable growth.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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