Beta Titanium Alloys Market to Observe Strong Development by 2024
Beta titanium alloys are materials that contain elements such as molybdenum, aluminum, vanadium, and iron. When heated at high temperature, pure titanium changes its crystalline form to become a different solid state called beta form of titanium. Key properties of beta titanium alloys include excellent fatigue and fracture resistance, high strength-to-weight ratio, compatibility with carbon or epoxy materials, biocompatibility, superior oxidation and corrosion resistance, non-magnetic character, and short radioactive half-life. Beta titanium alloys can be strengthened by heat treatment. They are commonly used in aerospace, automotive, and medical sectors due to the beneficial mechanical and thermal properties. One particular challenge for the beta titanium alloy is the necessity for strict process control, since most of the properties are sensitive to process variations. Powder metallurgy is one of the common methods of production of beta titanium alloys.
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The beta titanium alloys market is primarily driven by the increase in demand for these alloys in military and commercial aircraft. McDonnell Douglas C-17 and the Boeing 777 have started employing the advanced properties of beta titanium alloys. These versatile titanium alloys are used in aircraft springs by replacing steel. The light weight and excellent strength of beta titanium alloys attracts manufacturers, retailers, and consumers. Thus, these are the key factors driving the beta titanium alloys market. Of late, beta titanium alloys have been employed in the medical sector, especially in orthopedic and orthodontic applications. The biocompatibility of the material makes it an ideal material to be used for these purposes. Despite these features, use of beta titanium alloys in engines and airframes
Based on production type, the beta titanium alloys market can be segmented into powder metallurgy and melting. In terms of application, the beta titanium alloys market can be categorized into aerospace, automobile, chemical, and medical sectors. The aerospace application segment can be further divided into aircraft and jet engines, and spacecraft. The chemical applications can be further segregated into manufacturing plants, tanker trucks, and heat exchangers. The medical applications of beta titanium alloys cover bone and dental surgeries.
The global beta titanium alloys market expanded moderately in 2016. This trend is estimated to continue during the forecast period. North America accounted for significant share of the beta titanium alloys market in 2016 due to the easy availability of raw materials and technological advancements in the region. The aerospace industry in North America is a key market, which is anticipated to expand further due to fleet expansion activities. Demand for highly fuel efficient vehicles and strong protective coating is increasing in the region. The beta titanium alloys market in Europe has been expanding significantly. Germany and France are considered the key countries in Europe. Recent advancements in the medical field are expected to drive the market in the near future.
Demand for these alloys in aerospace and defense industries is boosting the beta titanium alloys market in Europe. Asia Pacific is also considered a key region for the beta titanium alloys market due to strong demand from China and India. Changes in lifestyle, the nature of emerging economy, and growth in the medical industry are the prominent factors augmenting the market for beta titanium alloys in Asia Pacific. Brazil primarily accounts for the demand for beta titanium alloys in Latin America due to the recent advancements made in the country is anticipated to offer promising growth opportunities to the beta titanium alloys market in the near future.
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Key players operating in the global beta titanium alloys market include Allegheny Technologies, Haynes International Inc., and Advanced Metallurgical Group N.V.
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