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Titanium Market Size, Share, Growth & Industry Trends [2031]

Titanium Market

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Segments - 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 2023 – 2031

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Riddhesh Dani

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Report Description

The titanium market size was valued at USD 25.52 Billion in 2022 and is projected to reach USD 42.75 Billion by 2031, expanding at a CAGR of around 5.9% during the forecast period, 2023 – 2031. 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.

Attributes	Details
Report Title	Titanium Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023 – 2031
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)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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

Applications

Papers & Plastics
Additives & Coatings
Pigments
Energy
Medical
Industrial
Aerospace & Marine

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

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.

Titanium Market Keyplayers

Table Of Content

1. Executive Summary
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 (000â€™ 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

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