Titanium alloy is a material with good mechanical properties, corrosion resistance and high temperature stability, and has been widely used in the aerospace industry. According to statistics, the global titanium alloy market reached 1.54 billion US dollars in 2019, and is expected to grow to 1.92 billion US dollars by 2026. In the next five years, the titanium alloy market growth rate will reach about 3.5%.
In terms of policies, the Chinese government has issued a number of policy measures to support the development of the aerospace industry, including fiscal subsidies, tax exemptions and so on. In addition, with the rapid development of the domestic aviation industry, the demand for titanium alloys has also been increasing year by year. Data shows that the Chinese titanium alloy market reached 590 million US dollars in 2019, and is expected to grow to 820 million US dollars by 2026, with a compound annual growth rate of 4.8%.
Moreover, with the increasing requirements for flight safety and aircraft performance, the research and production of titanium alloy products will usher in more opportunities. At the same time, the development of new energy vehicles, ships and other fields will also drive the further expansion of the titanium alloy market.
In summary, in the next five years, the global and Chinese titanium alloy market growth rates will remain stable, and the market prospects are very broad. As participants in the titanium alloy industry chain, we should continue to pay attention to policy trends, strengthen product research and development and production capacity to meet market demand.
