Titanium Ore Market Research Report - Forecast to 2030

Titanium Ore Market by Type (Rutile, Ilmenite, Leucoxene, Others), Application (Titanium Metal, Pigments, Coating & Lining, Welding Electrodes, And Others), End-Use Industry (Aerospace, Healthcare, Automotive, and Others), By Region - Forcast to 2030

ID: MRFR/CnM/4300-HCR | February 2021 | Region: Global | 140 pages

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Titanium Ore Market- Segmentation


The global titanium ore market is segmented into applications, end-use industry, and region.


On the basis of the type, the market is divided into rutile, ilmenite, and others.


Based on the application, the global titanium ore market is segmented into titanium metal, pigments, coatings and lining, welding electrodes, and others.


By the end-user industry, the global titanium market is segmented into aerospace, healthcare, automotive and others.


Geographically, the market is divided into five key regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.


Key Players


Some of the key players in the global titanium market are V.V Minerals (India), Royalty Minerals (India), Shanghai Yuejiang Titanium Chemical Manufacturer Co., Ltd (China), Yucheng Jinhe Industrial Co., Ltd (China), Hatch Ltd (Canada), Chemours (U.S.), Iluka Resource Limited (Australia), Tronox Limited (U.S.), Trimex Sands PVT Ltd (India), Stork Group (India), and Cosmos Electrodes PVT Ltd (India).

Market
Synopsis


Titanium Ore Market Likely to Make Steady Progress due to Growing Demand from Automotive, Aerospace and Healthcare Industries Forecast to 2023. Titanium ore is a mineral containing titanium metal in the form of compounds and concentrations. It is generated by the destruction of an altar with pwnhammer and can also be obtained by opening crates. Rutile and Ilmenite are the major sources of titanium ore. Ilmenite is used as the primary source for producing titanium metal after removing iron by chlorination process. Ilmenite is converted into synthetic rutile for manufacturing titanium dioxide by two processes namely chloride and sulfate process. It is extensively used in building engines, airframes, missiles, and production of welding electrodes. It is used in cosmetic products to reduce harmful effects of ultraviolet light on the skin.


Synthetic rutile is increasingly used as a feedstock for producing titanium dioxide pigments. Surging demand for the product from various industries such as electrical, aerospace and defense owing to corrosion resistance is driving the market growth. Use of white pigments, which is synthesized using titanium dioxide, is increasing in the packaging and paints sector due to its superior properties such as high refractive index, brightness, opacity. Inc. Rapid industrialization and rising disposable income of the consumers in the developing economies are expected to fuel the demand in the global market. The abundance of ilmenite in various countries such as India, the U.S., Canada, Australia, and South Africa is expected to boost the growth of the market. The flourishing automotive market in the emerging economies is likely to augment the market growth in the coming years. The demand for titanium dioxide is surging in various major end-use industries across the globe due to the important properties such as light scattering and high transparency. Increasing prevalence of titanium metal in biomedical applications such as surgical devices, dental implants, and bone plates is expected to drive the market.


However, hazardous waste generated during the process of manufacturing titanium dioxide is likely to fetch some strict regulatory measures, which may hamper the growth of the market during the review period.


Global Titanium Ore market share, by end-use industry 2016 (%)


 titanium ore market


Regional Analysis


The global titanium ore market is divided into five regions namely Asia Pacific, North America, Europe, Latin America and the Middle East & Africa. Among them, Asia Pacific is leading the global market owing to the availability of huge reserves of titanium ore specifically in India. Surging demand for lightweight vehicles in the developing economies, especially in India and China are expected to drive the market growth. The use of titanium ore is steadily increasing in the production of welding electrodes coupled with growing transportation and automobile industry in India.  Rising disposable income and growing health awareness are expected to fuel the demand for this product in the healthcare sector. Widening use of pigments in packaging and textile industry are also expected to fuel the demand for the product.


North America is another substantial market for this product due to the abundance of ilmenite. Continuously expanding automotive and aircraft industries in the U.S. are expected to boost the demand for the product. Increasing preference for innovative packaging and eco-friendly products in the mature economies in this region is driving the demand for pigments.


During the years to follow the Middle East & Africa is expected to grow USD 2.1 billion at a 4.60% CAGR during the forecast 2021-2030.


Intended Audience



  • Titanium ore Manufacturers

  • Traders and distributors of titanium ore

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 2.1 billion 2030
  CAGR   4.60% 2030
  Base Year   2021
  Forecast Period   2021 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application and End-Use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   V.V Minerals (India), Royalty Minerals (India), Shanghai Yuejiang Titanium Chemical Manufacturer Co., Ltd (China), Yucheng Jinhe Industrial Co., Ltd (China), Hatch Ltd (Canada), Chemours (U.S.), Iluka Resource Limited (Australia), Tronox Limited (U.S.), Trimex Sands PVT Ltd (India), Stork Group (India), and Cosmos Electrodes PVT Ltd (India)
  Key Market Opportunities   The flourishing automotive market in the emerging economies is likely to augment the market growth in the coming years.
  Key Market Drivers   Surging demand for the product from various industries such as electrical, aerospace and defense owing to corrosion resistance is driving the market growth.


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Frequently Asked Questions (FAQ) :

Factors like hazardous waste production and stringent regulatory measures can pull back the global titanium or market growth.

The Asia Pacific region would take the titanium ore market forward.

The major titanium ore market influencers are Royalty Minerals (India), V.V Minerals (India), Yucheng Jinhe Industrial Co., Ltd (China), Shanghai Yuejiang Titanium Chemical Manufacturer Co., Ltd (China), Chemours (U.S.), Hatch Ltd (Canada), Tronox Limited (U.S.), Iluka Resource Limited (Australia), Stork Group (India), Trimex Sands PVT Ltd (India), and Cosmos Electrodes PVT Ltd (India).

Industrialization and hike in disposable income are expected to make a proper impact on the titanium ore market.

Major strategies implemented by the titanium ore market players would be a product launch, acquisition, surge in R&D investment, collaboration, innovation, merger, brand positioning, and others.