Titanium aluminide (TiA) is broadly popularized as gamma titanium and is an inter-metallic chemical compound. This chemical is susceptible to heat and oxidation and also is light in weight. The chemical is available with low ductility.
Business Research Insights has stated that the global titanium aluminide alloy market size was USD 308.3 million in 2020 and is projected to reach USD 967.6 million by 2027, exhibiting a CAGR of 21.0% during the forecast period.
COVID-19 Impact on the Market
Since the COVID-19 outbreak in the later half of 2019, the virus has spread to nearly major nations across the globe with the World Health Organization confirming it as a public health crisis.
The outbreak of COVID-19 has brought impacts on various dynamics such as flight terminations, travel prohibitions and quarantines, and shut down of restaurants. All indoor activities were limited, over forty nations announced a state of emergency, colossal decelerating of the supply chain; stock market instability; falling business confidence, rising panic among the population, and indecision about the upcoming period.
Titanium aluminide alloy is a rare group of materials termed as intermetallic. Intermetallic consists of components consisting of an amalgamation of various metals that results in a chronological crystallographic structure that creates when the concentration of the alloys surpasses the solubility limitation. These materials are famous for their crystal structure and characteristics that are diverse from their parent metals. They have a long-variety ordered crystal structure that provides them with special properties, such as surging yield strength and bolstering temperature, generally up to the melting point. Consequently, intermetallic offers fascinating characteristics that are capable of meeting with the technological requirements of a promptly altering environment.
Below mentioned are the top pioneers functioning in the global market:
- AMG Advanced Metallurgical Group NV (Netherlands)
AMG Advanced Metallurgical Group NV is located in the Netherlands and manufactures specialty metals, mineral products, and associated with vacuum furnace systems. The company offers carbon dioxide (CO2) deterioration solutions for numerous industries and is active in two segments such as critical materials and engineering.
- KBM Affilips (Netherlands)
KBM Affilips B.V. offers marketing and sales for alloys across the world. The company presents its services for the sale of brass, copper, nickel, aluminum, and cobalt. KBM Affilips provides its services for the battery, aircraft, lead, and nuclear reactor industries.
- Alcoa (U.S.)
Alcoa Corporation is an American industrial corporation. It is the world’s eighth largest manufacturer of aluminum, with corporate headquarters in Pittsburgh, Pennsylvania. Alcoa conducts business in nearly 10 nations. Alcoa is a prime manufacturer of primary aluminum, fabricated aluminum, and alumina amalgamated through its active and surging participation in all key sectors of the industry such as fabricating, technology, refining, mining, smelting as well as recycling.
It is used in an extensive variety of operations such as vehicles, sporting gears, jet engines as well as aircraft. Such expanded utilization of the chemicals is anticipated to support the market growth of titanium aluminide alloy in the forthcoming years. Titanium aluminide exists with three critical inter-metallic compounds such as TiAl3, alpha 2-Ti3Al, and gamma TiAl. Out of the above stated three sorts, gamma TiAl has gained maximum recognition and is expansively used in numerous functions. This kind of titanium aluminide has superior mechanical characteristics and remarkable resistance to oxidation as well as corrosion at greater temperatures i.e., temperature above 600 degrees Celsius. This property of titanium aluminide alloy allows it to swap the common nickel (Ni) based super alloy components in turbine engines of aircraft.
Future Outlook of the Industry
The global market is predicted to observe substantial growth in the coming years owing to the benefits it presents such as low density and thrusted temperature. The characteristics of the chemical make it apt for using it in both airframe as well as engine functions, particularly in the aerospace sector. Lower structural weight to power ratio is among the prime causes accountable for the deteriorated carbon footprint and enhancement in the aircraft’s output and is anticipated to nurture the market growth of titanium aluminide alloy in the coming years.
Growing demand for sports-utility vehicle or SUV, multi-purpose vehicle or MPV, and fuel proficient lightweight vehicles is probable to fuel the demand for titanium aluminide alloy. Apart from that, stringent guidelines and rules relevant to environment pollution and consistently changing charges of oil are probable to sustain the market growth.