Titanium Market by Types (Titanium Pigment, Ferrotitanium, Titanium Sponge, Titanium tetrachloride, Titanium Concentrate, Titanium Dioxide, and Titanium Metal), Applications (Papers & Plastics, Additives & Coatings, Pigments, Energy, Medical, Industrial, and Aerospace & Marine), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
The titanium market size was valued at USD 24.7 billion in 2021 and is projected to reach USD 41.4 billion by 2030, expanding at a CAGR of around 5.9% during the forecast period, 2022 – 2030. The growth of the market is attributed to increasing usage in several end-use industries.
Titanium is a metal that is formed from ilmenite and rutile and is considered to be lighter and stronger than steel. These metals are resistant to corrosion and have a long lifespan. When the temperature of this metal is raised, it turns changes into different color. Despite having the strength of steel, titanium is 40% lighter, making it appropriate for a wide range of applications. Titanium is an ideal metal for aircraft engineers since it is light weight and has a great erosion resistance. Although titanium is the fourth most abundant metal in the earth's crust, it has to go through an exceedingly complex procedure to avoid contamination, particularly from oxygen.
The COVID-19 pandemic has boosted demand for automobiles even further, since most people nowadays prefer private traveling over public transportation owing to the virus's threat. Titanium alloys are employed to replace some hefty automotive components, which is projected to drive the titanium market.
Market Trends, Drivers, Restraints, and Opportunities
- High corrosion resistance, light weight, and low density are few of the major factors that drive the titanium market.
- Increasing use of product as pigment in coatings and paints is projected to fuel the market during the forecast period.
- Increased usage in the aerospace and aviation industry due to its superior thermal properties and strength-to-weight ratio are estimated to boost the market during the forecast period.
- Rising adoption of titanium to create electrodes, ships, spacecrafts, and high-speed aircrafts, is propelling the market.
- Increase in demand for lightweight cars due to the need for fuel savings is expected to propel the market.
- High cost of production is estimated to hinder the market growth during the projected period.
- Factor such as high reactivity at high temperature is estimated to impede the market growth.
- Technological advancement in metal finishing sector and R&D investment is anticipated to create lucrative opportunities for the market players.
Scope of the Report
The report on the global titanium market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Titanium Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2021 |
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Historic Data |
2019–2020 |
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Forecast Period |
2022 – 2030 |
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Segmentation |
Types (Titanium Pigment, Ferrotitanium, Titanium Sponge, Titanium tetrachloride, Titanium Concentrate, Titanium Dioxide, and Titanium Metal), and Applications (Papers & Plastics, Additives & Coatings, Pigments, Energy, Medical, Industrial, and Aerospace & Marine) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Hangzhou King Titanium co., ltd; Kilburn Chemicals; KOBE STEEL, LTD.; Mukesh Steel; Tronox Holdings plc; Titanium Technologies; Global Titanium Inc.; Kenmare Resources plc.; CRISTAL; VVTi Pigments.; Norsk Titanium US Inc.; TITANIUM INDUSTRIES INC.; Precision Castparts Corp; VSMPO-AVISMA Corporation; Sumitomo Corporation; Iluka Resources Limited; and Huntsman International LLC. |
Market Segment Insights
The titanium dioxide segment accounted for a major market share in 2021
Based on types, the market is segregated into titanium pigment, ferrotitanium, titanium sponge, titanium tetrachloride, titanium concentrate, titanium dioxide, and titanium metal. The titanium dioxide segment accounted for a major market share in 2021. Titanium dioxide is frequently utilized in the paint and coating industries because of its durability, opacity, whiteness, superior coverage, and high brightness. Paints and coatings containing titanium dioxide are widely utilized in the construction industry, wood finishes, protective coatings, waterborne paints, powder coatings, general industrial finishes, automotive OEM coatings, and architectural coatings. The increasing population and rapid urbanization in Asia Pacific’s emerging economies also help to drive market. The titanium metal segment is estimated to grow at a rapid pace during the forecast period. The major end-user industry using titanium metal is aerospace and military. Titanium is an extremely stable and cost-effective alternative to aluminium, with the ideal weight-to-strength ratio. Besides from aircrafts and other components, titanium is mostly employed in the construction of turbine engines. Components such as hubs, discs, compressor blades, and intake cases, as well as seals and spacers, are all made of titanium in turbine engines.
The aerospace & marine segment is expected to grow at a rapid pace during the forecast period
On the basis of applications, the market is fragmented into papers & plastics, additives & coatings, pigments, energy, medical, industrial, aerospace & marine. The aerospace & marine segment is expected to grow at a rapid pace during the forecast period. Titanium has unique qualities such as crack resistance, fatigue resistance, excellent corrosion resistance, high tensile strength-to-density ratio, and the ability to sustain fairly high temperatures without spreading. Titanium is a great metal for missiles, spacecraft, naval ships, armor plating, and airplanes because of its characteristics. Titanium pipes are employed in the chemical and petrochemical sectors because of their excellent corrosion resistance.
Asia Pacific is projected to register a high CAGR during the forecast period
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is projected to register a high CAGR during the forecast period. Growth of the market in the region is attributed to rising demand for titanium and legislation requiring the use of environmentally friendly products. Manufacturers of titanium metal and dioxide are focusing on this region since it is the major market for industries including construction, polymers, and aircraft.
Segments
The global titanium market has been segmented on the basis of
Types- Titanium Pigment
- Ferrotitanium
- Titanium Sponge
- Titanium tetrachloride
- Titanium Concentrate
- Titanium Dioxide
- Titanium Metal
- Papers & Plastics
- Additives & Coatings
- Pigments
- Energy
- Medical
- Industrial
- Aerospace & Marine
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Hangzhou King Titanium co., ltd
- Kilburn Chemicals
- KOBE STEEL, LTD.
- Mukesh Steel
- Tronox Holdings plc
- Titanium Technologies
- Global Titanium Inc.
- Kenmare Resources plc.
- CRISTAL
- VVTi Pigments.
- Norsk Titanium US Inc.
- TITANIUM INDUSTRIES INC.
- Precision Castparts Corp
- VSMPO-AVISMA Corporation
- Sumitomo Corporation
- Iluka Resources Limited
- Huntsman International LLC
Competitive Landscape
Key players competing in the titanium market include Hangzhou King Titanium co., ltd; Kilburn Chemicals; KOBE STEEL, LTD.; Mukesh Steel; Tronox Holdings plc; Titanium Technologies; Global Titanium Inc.; Kenmare Resources plc.; CRISTAL; VVTi Pigments.; Norsk Titanium US Inc.; TITANIUM INDUSTRIES INC.; Precision Castparts Corp; VSMPO-AVISMA Corporation; Sumitomo Corporation; Iluka Resources Limited; and Huntsman International LLC. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Titanium Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Titanium Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Titanium Market - Supply Chain
4.5. Global Titanium Market Forecast
4.5.1. Titanium Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Titanium Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Titanium Market Absolute $ Opportunity
5. Global Titanium Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Titanium Market Size and Volume Forecast by Types
5.3.1. Titanium Pigment
5.3.2. Ferrotitanium
5.3.3. Titanium Sponge
5.3.4. Titanium tetrachloride
5.3.5. Titanium Concentrate
5.3.6. Titanium Dioxide
5.3.7. Titanium Metal
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Titanium Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Titanium Market Size and Volume Forecast by Applications
6.3.1. Papers & Plastics
6.3.2. Additives & Coatings
6.3.3. Pigments
6.3.4. Energy
6.3.5. Medical
6.3.6. Industrial
6.3.7. Aerospace & Marine
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Titanium Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Titanium Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Titanium Demand Share Forecast, 2019-2026
8. North America Titanium Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Titanium Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Titanium Market Size and Volume Forecast by Types
8.4.1. Titanium Pigment
8.4.2. Ferrotitanium
8.4.3. Titanium Sponge
8.4.4. Titanium tetrachloride
8.4.5. Titanium Concentrate
8.4.6. Titanium Dioxide
8.4.7. Titanium Metal
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Titanium Market Size and Volume Forecast by Applications
8.7.1. Papers & Plastics
8.7.2. Additives & Coatings
8.7.3. Pigments
8.7.4. Energy
8.7.5. Medical
8.7.6. Industrial
8.7.7. Aerospace & Marine
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Titanium Demand Share Forecast, 2019-2026
9. Latin America Titanium Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Titanium Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Titanium Market Size and Volume Forecast by Types
9.4.1. Titanium Pigment
9.4.2. Ferrotitanium
9.4.3. Titanium Sponge
9.4.4. Titanium tetrachloride
9.4.5. Titanium Concentrate
9.4.6. Titanium Dioxide
9.4.7. Titanium Metal
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Titanium Market Size and Volume Forecast by Applications
9.7.1. Papers & Plastics
9.7.2. Additives & Coatings
9.7.3. Pigments
9.7.4. Energy
9.7.5. Medical
9.7.6. Industrial
9.7.7. Aerospace & Marine
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Titanium Demand Share Forecast, 2019-2026
10. Europe Titanium Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Titanium Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Titanium Market Size and Volume Forecast by Types
10.4.1. Titanium Pigment
10.4.2. Ferrotitanium
10.4.3. Titanium Sponge
10.4.4. Titanium tetrachloride
10.4.5. Titanium Concentrate
10.4.6. Titanium Dioxide
10.4.7. Titanium Metal
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Titanium Market Size and Volume Forecast by Applications
10.7.1. Papers & Plastics
10.7.2. Additives & Coatings
10.7.3. Pigments
10.7.4. Energy
10.7.5. Medical
10.7.6. Industrial
10.7.7. Aerospace & Marine
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Titanium Demand Share Forecast, 2019-2026
11. Asia Pacific Titanium Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Titanium Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Titanium Market Size and Volume Forecast by Types
11.4.1. Titanium Pigment
11.4.2. Ferrotitanium
11.4.3. Titanium Sponge
11.4.4. Titanium tetrachloride
11.4.5. Titanium Concentrate
11.4.6. Titanium Dioxide
11.4.7. Titanium Metal
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Titanium Market Size and Volume Forecast by Applications
11.7.1. Papers & Plastics
11.7.2. Additives & Coatings
11.7.3. Pigments
11.7.4. Energy
11.7.5. Medical
11.7.6. Industrial
11.7.7. Aerospace & Marine
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Titanium Demand Share Forecast, 2019-2026
12. Middle East & Africa Titanium Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Titanium Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Titanium Market Size and Volume Forecast by Types
12.4.1. Titanium Pigment
12.4.2. Ferrotitanium
12.4.3. Titanium Sponge
12.4.4. Titanium tetrachloride
12.4.5. Titanium Concentrate
12.4.6. Titanium Dioxide
12.4.7. Titanium Metal
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Titanium Market Size and Volume Forecast by Applications
12.7.1. Papers & Plastics
12.7.2. Additives & Coatings
12.7.3. Pigments
12.7.4. Energy
12.7.5. Medical
12.7.6. Industrial
12.7.7. Aerospace & Marine
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Titanium Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Titanium Market: Market Share Analysis
13.2. Titanium Distributors and Customers
13.3. Titanium Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Hangzhou King Titanium co., ltd
13.4.2. Kilburn Chemicals
13.4.3. KOBE STEEL, LTD.
13.4.4. Mukesh Steel
13.4.5. Tronox Holdings plc
13.4.6. Titanium Technologies
13.4.7. Global Titanium Inc.
13.4.8. Kenmare Resources plc
The global titanium market has been segmented on the basis of
Types- Titanium Pigment
- Ferrotitanium
- Titanium Sponge
- Titanium tetrachloride
- Titanium Concentrate
- Titanium Dioxide
- Titanium Metal
- Papers & Plastics
- Additives & Coatings
- Pigments
- Energy
- Medical
- Industrial
- Aerospace & Marine
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Hangzhou King Titanium co., ltd
- Kilburn Chemicals
- KOBE STEEL, LTD.
- Mukesh Steel
- Tronox Holdings plc
- Titanium Technologies
- Global Titanium Inc.
- Kenmare Resources plc.
- CRISTAL
- VVTi Pigments.
- Norsk Titanium US Inc.
- TITANIUM INDUSTRIES INC.
- Precision Castparts Corp
- VSMPO-AVISMA Corporation
- Sumitomo Corporation
- Iluka Resources Limited
- Huntsman International LLC
Key players competing in the titanium market include Hangzhou King Titanium co., ltd; Kilburn Chemicals; KOBE STEEL, LTD.; Mukesh Steel; Tronox Holdings plc; Titanium Technologies; Global Titanium Inc.; Kenmare Resources plc.; CRISTAL; VVTi Pigments.; Norsk Titanium US Inc.; TITANIUM INDUSTRIES INC.; Precision Castparts Corp; VSMPO-AVISMA Corporation; Sumitomo Corporation; Iluka Resources Limited; and Huntsman International LLC. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years.
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FAQ Section
Some frequently asked quetions about this report!
The titanium market is projected to expand at a CAGR of around 5.9% during the forecast period, 2022 – 2030.
The titanium market size was valued at USD 24.7 billion in 2021.
High cost of production is estimated to hinder the market growth during the projected period.
Asia Pacific is projected to register a high CAGR during the forecast period.
Some of the top players in the titanium market include VSMPO-AVISMA Corporation; Sumitomo Corporation; Iluka Resources Limited; and Huntsman International LLC.
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