About Titanium Forging
Forging is the process of shaping heated metal by the application of sudden blows with hammer forging or steady pressure and makes use of the characteristic of plasticity of the material. Forging can be categorized in many different ways such as hot, warm, and cold forging. A forging machine applies the impact load is called a forging hammer and the one that applies measured pressure. Titanium alloys are forged into a variety of shapes and types of forgings, with a broad range of final part forging design standards based on the intended end-product application. The processing elements include the preparation of forging stock, preheating of the stock, die heating, lubrication, forging process, trimming and repair, cleaning, heat treatment, and inspection.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Titanium Forging is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that German Vendors will contribute the maximum growth to Global Titanium Forging market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ATI (United States), Bharat Forge (India), Nippon Steel & Sumitomo Metal (Japan), ThyssenKrupp (Germany), VSMPO-Avisma (Japan), UKAD (France), Precision Castparts Corp. (United States), Kobe Steel, Ltd. (Japan), OTTO FUCHS KG (Germany) and AMG Advanced Metallurgical Group (Netherlands) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Mattco Forge, Inc. (United States), Baoji Titanium Industry Co., Ltd. (China) and Aubert & Duval (France).
Segmentation Overview
AMA Research has segmented the market of Global Titanium Forging market by Type (Impression Die, Open Die, Rolled Ring and Others), Application (Automotive, Aircraft, Defense and Others) and Region.
On the basis of geography, the market of Titanium Forging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Method, the sub-segment i.e. Conventional will boost the Titanium Forging market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of Internet of Things (IoT) With Forging Technology
Market Growth Drivers:
Increasing Demand for High-Strength Metal Components and Cost Effective Method of Metal Forming
Challenges:
Stringent Environmental Rules & Regulations and Technical Challenges Involving Materials, Energy, and Forging Technology
Restraints:
Lack of Skilled Labor and Limited Availability of Materials
Opportunities:
Rising Automotive and Construction Industries in the Developing Economies
Market Leaders and their expansionary development strategies
In January 2019, Aubert & Duval and PyroGenesis sign a technical and commercial partnership agreement for the distribution of plasma-atomized titanium powders. PyroGenesis, a Canadian player specialized in plasma manufacturing processes, have entered into a partnership agreement for the supply of titanium powders to Europe's additive manufacturing market.
Key Target Audience
Forging Service Providers, Suppliers of Forging Subcomponents, Wholesalers, Distributers and Retailers of Forging Products, Automotive Industry, Aerospace Industry and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.