Titanium Market: Global Industry Analysis and Forecast (2023-2029)

Titanium Market was valued at US$ 26.43 Bn. in 2022. Global Titanium Market size is expected to grow at a CAGR of 5.72 % through the forecast period.
Titanium Market Overview:
Titanium is a chemical element with the symbol Ti and atomic number 22. Found in nature only as an oxide, it can be reduced to produce a lustrous transition metal with a silver colour, low density, and high strength, resistant to corrosion in sea water, aqua regia, and chlorine.

To know about the Research Methodology :- Request Free Sample Report

Titanium metal is a very durable metal for engineering applications because this metal is corrosion-resistant and also this metal is very strong and very light. It is 40% lighter than steel but as strong as high-strength steel. So titanium finds applications in things like aerospace.

Titanium is a familiar metal. Many people know that it is used in jewellery, prosthetics, tennis rackets, goalie masks, scissors, bicycle frames, surgical tools, mobile phones and other high-performance products. Titanium is as strong as steel but weights about half as much.

Titanium combines with iron, aluminium, vanadium, nickel, molybdenum and other metals to produce high-performance alloys. Jet engines, spacecraft, military equipment, bearings, body armour, and other high-tech products need parts made with these alloys.

The report explores the Titanium Market's segments (Connectivity and Content, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Titanium Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Titanium Market's contemporary competitive scenario
Titanium Market Dynamics:
The market has grown as a result of rules requiring the use of environmentally friendly products and rising demand for titanium. Many businesses, especially the aircraft industry, have found titanium to be a priceless component. Both the titanium and aerospace industries are heavily reliant on one another. The forecast for the titanium market should remain stable in the coming years as demand for more aircraft and more effectively travelling by air increases.

Due to its great strength to weight ratio, excellent thermal qualities, and use in the production of high-speed aircrafts, spacecrafts, ships, and electrodes, the aerospace and aviation industries are the ones that use it the most, which helps to accelerate market expansion. It is frequently used for gas turbine engines, engine cowlings, and heat shields in addition to parts and fasteners for aeroplanes. It is used in orthopaedic hip replacements, pacemakers, defibrillators, and elbow joints.

Metals like titanium are employed in numerous industrial operations. Titanium dioxide is frequently used in the paints and coatings industry because of its high brightness, superior coverage, whiteness, opacity, and durability. It naturally reacts with oxygen to generate titanium oxides. Architectural coatings, automotive OEM coatings, general industrial finishes, powder coatings, aqueous paints, protective coatings, wood finishes, and other coatings are the main applications for titanium dioxide-based paints and coatings. In the upcoming years, it is projected that the region's expanding support for the production and purchase of electric vehicles would present profitable opportunities for the use of titanium dioxide in automotive paints & coatings and plastics.

New uses for titanium dioxide are being developed, building a foundation for its future production, thanks to an increasing number of patents and research projects. The demand for titanium dioxide as a coating material is rising in response to the increased need for highly scratch-resistant materials.

The titanium industry has been driven by the global demand for jewellery because Due to its numerous distinctive qualities, titanium has gained popularity as a material for jewellery. Titanium is non-toxic or biocompatible with living tissue. Similar to how titanium rings won't cause allergic reactions in wearers of other jewellery materials.

In the mobile industry the use of the titanium is increases, it is used in create the mobile apps using JavaScript and titanium metal phone case.The cosmetics industry frequently uses titanium dioxide as a pigment because it has high colour context, including higher intensity and brightness, aids in absorbing oils released from the skin, and protects the skin from UV rays, making it an excellent choice for sun care products. The demand for high-quality products, changing lifestyles, increased middle-class aspirational spending, and rising disposable income all contribute to the enormous expansion of the worldwide cosmetics market. The growing knowledge of the tendency toward maintaining an even skin tone, healthy skin habits, and efforts made to seem attractive and young is also fuelling the market for skincare products, which is rising.

The pulp and paper segment is also one of the key driven factor for TiO2 owing to its usage as a filler in pulp and paper production. The product improves the brightness, opacity, colour, porosity, smoothness, gloss, and printability of paper. The product has considerable usage in the production of decorative foils and decor and magazine papers used in various printing applications
Titanium Market Segment Analysis:
Based on Product Type, Titanium Market Segmented into the Titanium Concentrate, Titanium tetrachloride, Titanium Sponge, Ferrotitanium, Titanium Pigment and Other.

Titanium Concentrate is held the highest market share because of Titanium concentrate falls under ilmentile group. Titanium concentrate consist of titanium white powder which is generally used in wide range of applications such as coatings, plastics, printing ink and paper making, cosmetics, chemical fibres, electronics, ceramics, alloys, glass and The titanium concentrates are used for producing titanium metal and is used as an additive of titanium alloy.

Ferrotitanium is a ferroalloy mainly used in steelmaking. By grade, ferrotitanium can be divided into two grades, the first containing approximately 35% titanium and the second containing roughly 70% titanium. Ferrotitanium is majorly used in steel and stainless steel processing units, paints, varnishes, military aircrafts etc.

Based on Application, Titanium Market Segmented into the Aerospace & Marine, Industrial, and Medical, Energy, Pigments, Additives & Coatings, Papers & Plastics and Others. Aerospace and Marine industry is the largest application industry segment of titanium metal Titanium metal is majorly used in the production of turbine engines apart from airframes and other components. In turbine engines, titanium is used to manufacture components such as inlet cases, compressor blades, disks, and hubs, as well as spacers and seals.

Paints and coatings held the second largest market share because of Titanium dioxide is the ideal white pigment to help you obtain intense whiteness and covering power in paints and coatings. This is because of its high refractive index and the ability to be transparent to visible light. The plastic industry is one of the many sectors that use TiO2 extensively. TiO2 has outstanding features such as high hiding power and pigment characteristics that help enhance its application in plastics. It increases heat resistance, weather resistance, and light resistance of PVC products, protecting them from UV rays.
Regional Insights:
On the basis of a rise in the expansion of the automotive, construction, and other associated industries, the North American titanium market is anticipated to experience a proliferation in the upcoming years. The availability of the metal has increased significantly as a result of the metals and mining sector's rapid expansion, which has also increased the metal's use in a variety of fields. This has significantly raised the growth expectations for the product market and is anticipated to give new competitors access to major growth prospects in the coming years.

The growth of the building, group activity, and other related industries is anticipated to fuel the expansion of the titanium market in Europe during the approaching years. The need for titanium wires in Europe has been fueled by the use of titanium wires in the manufacture of German pellets, automobile parts for companies like BMW, Volkswagen, and others, as well as other manufacturing processes. The demand for finished titanium in Europe is largely driven by the automobile industry. The main consumer of titanium in the area is the building industry.

Opportunities in the paper, plastics, paint and coatings, and other industries make the future of the titanium industry in India look positive. The expanding demand for titanium in end-use sectors like paint & coatings, plastics, and others is one of the main growth drivers for this market. Market growth for titanium pigment is anticipated as a result of technological advancements targeted at streamlining production techniques to boost product yield and improve product quality.

The objective of the report is to present a comprehensive analysis of the Global Titanium Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Titanium Market dynamic, structure by analyzing the market segments and projecting the Titanium Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Titanium Market make the report investor’s guide.
Titanium Market Scope: Inquire before buying



Titanium Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 26.43 Bn.


Forecast Period 2023 to 2029 CAGR:
5.72%
Market Size in 2029:
US$ 39.01 Bn.


 Segments Covered:
by Type
Titanium Concentrate
Titanium tetrachloride
Titanium Sponge
Ferrotitanium
Titanium Pigment
Other


by Application
Aerospace & Marine
Industrial
Medical
Energy
Pigments
Additives & Coatings
Papers & Plastics
Others


by Form
Bar
Sheet
Pipe
Plate
Threaded Rod & Wire
Tubing, Elbows
Flanges
Stub Ends
Screwed Fittings
Pipe Plugs
others.


by Grade
Ti 6Al-4V (Grade 5)
Ti 6AL-4V ELI (Grade 23)
Ti 3Al 2.5 (Grade 12)
Ti 5Al-2.5Sn (Grade 6)
others



Titanium Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. Huntsman International LLC
2. INEOS
3. Iluka Resources Limited
4. Sumitomo Corporation
5. VSMPO-AVISMA Corporation
6. TOHO TITANIUM
7. ATI
8. Precision Castparts Corp
9. TITANIUM INDUSTRIES INC
10. Norsk Titanium
11. VVTi Pigments
12. CRISTAL
13. Kenmare Resources
14. Global Titanium
15. Bansal Brothers
16. Titanium Technologies
17. Tronox Holdings plc
18. Mukesh Steel
19. KOBE STEEL
20. Kilburn Chemicals
21. Hangzhou King Titanium

Frequently Asked Questions:

1] What segments are covered in the Global Titanium Market report?
Ans. The segments covered in the Titanium Market report are based on Product Type, Application, Form, Grade.

2] Which region is expected to hold the highest share in the Global Titanium Market?
Ans. North America region is expected to hold the highest share in the Titanium Market.

3] What is the market size of the Global Titanium Market by 2029?
Ans. The market size of the Titanium Market by 2029 is expected to reach US$ 39.01 Bn.

4] What is the forecast period for the Global Titanium Market?
Ans. The forecast period for the Titanium Market is 2023-2029.

5] What was the market size of the Global Titanium Market in 2022?
Ans. The market size of the Titanium Market in 2022 was valued at US$ 26.43 Bn.