Titanium Powder Market Analysis, Opportunities & Trends 2031

Report Description

Market Outlook:

The Global Titanium Powder Market was estimated at USD 2,174.9 Million in 2022 and is anticipated to reach USD 4,219.3 Million by 2031, expanding at a CAGR of 7.9% during the forecast period.

Titanium is a chemical element found naturally on earth. It is available in the form of powder, flakes, and others. Titanium powder is a fine-gray metallic powder composed of titanium. The process of extracting titanium traditionally involves the Kroll method, which requires temperatures of up to 1040°C and consists of various sub-processes. Furthermore, to remove impurities, the material undergoes a series of processes such as hydride-dihydride, cold compaction, vacuum hot pressing, final vacuum annealing, plasma rotating electrode, titanium gas atomization, and plasma atomization. Titanium powder is produced with better mechanical attributes and good grain size, without all the unwanted grain growth by spark plasma sintering, or electric current assisted sintering. Titanium powder is utilized to manufacture high-performance car components and lightweight aerospace parts. Additionally, titanium-based powders have high biocompatibility, making them suitable for personalized medical and dental implants.

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Macro-economic Factors

Global Trade

Titanium is widely used in the aerospace industry, due to its high strength-to-weight ratio, corrosion resistance, and thermal stability. It is also significant in the defense sector and critical infrastructures such as the chemical industry and power generation. Therefore, titanium is traded at different stages of processing. Wrought titanium, such as mill products, is the principal form in which titanium metal is marketed. Titanium powder is made from titanium sponge and is further used for powder products and parts manufacturing. Titanium powder is an international traded product, which has wide range of application fields, influencing the market.

In 2019, Japan, Kazakhstan, and the US accounted for about threequarters of exports of unwrought titanium and powders by value. However, in 2020-2021, exports from Kazakhstan and the US plunged, and exports from Japan represented more than half of global export value in 2021. The international trade of titanium powder helps importing countries to consume titanium powder for a wide range of applications. For instance, EU imports around 27% and the US imports around 38% of titanium powder for the aerospace and automotive applications.

Research and Development Activities

R&D activities are important for product innovation and upgradation in the market to cater the emerging needs. Business or firms gain a competitive advantage by taking R&D efforts which leads to the improved type of business process. Titanium powder is highly demanding material for various application fields such as powder metallurgy and additive manufacturing for aerospace and automotive manufacturing. Therefore, manufacturers of titanium powder as well as governments across the globe are focusing on product innovation by conducting research and development activities. For instance, Amaero International Limited, a company located in Australia, is a titanium powder manufacturer. The company is opening up its new R&D centre in Tennessee, US. Tennessee Department of Economic and Community Development, Cleveland-Bradley Chamber of Commerce and Tennessee Valley Authority and the Oak Ridge National Laboratory have agreed to provide economic incentives to Amaero International Limited for its R&D activities.

Investment in Aerospace & Defence Manufacturing

Modern aerospace components and parts need to meet a series of demanding requirements such as lightweight, high performance, high reliability, and low cost. The structure of components is complex and difficult to design and manufacture. There are certain government regulations and standards for the manufacturing of aerospace parts. Therefore, various lightweight materials are increasingly being used for additive manufacturing for aerospace manufacturing. Titanium has a high strength-to-weight ratio, which is critical for the aerospace application, as light-weight vehicles consume less fuel. Titanium powders are highly beneficial to the aerospace industry, helping companies to reduce their carbon footprint by making planes fuel-efficient. 3D printing of components constructed from titanium powders has become popular in the industry for its convenience, speed, and production of lightweight components. Therefore, increasing investments and rising aerospace components manufacturing boost the demand for titanium powders. Governments across the globe are investing in aerospace manufacturing to cater the growing demand in the market. For instance, In June 2023, the US Department of Commerce Invested USD 1 Million to support aerospace manufacturing business growth in lulling, Texas, US. This grant is expected to provide roadway, water, and broadband improvements to support business expansion in aerospace manufacturing. Government of Canada invested over USD 11 million in four aerospace businesses and organizations to green operations, increase manufacturing capacity, and support over 180 jobs.

Market Dynamics

Market Driver- Increasing Use of Titanium Powders in Additive Manufacturing

The process of producing an object with one layer at a time is known as additive manufacturing. Although the term additive manufacturing generally refers to 3D printing, it technically refers to any technique where a product is formed by building things up, such as molding. Functional parts for various tools and machinery are constructed through additive manufacturing. Repetitive manufacturing techniques are more complex and costly to run than additive manufacturing techniques, which produce everything from prototypes to finished items quickly, cheaply, and easily. Several materials, including plastic, carbon fibres, and metals such as titanium, steel, and copper, are utilized in additive manufacturing. In additive manufacturing, titanium powder is growing in popularity. The intrinsic qualities of the metal include its strength and light weight. Therefore, it is suitable for a wide range of applications, including automotive and aerospace parts. It possesses the high strength to weight ratio. This material holds high potential for use as an additive manufacturing foundation. Titanium is increasingly being used in additive manufacturing as the demand for strong and durable materials increases.

Market Driver- Rising Use of Light Weight Materials in End Use Industry

The need for lightweight materials has grown in the transportation production industry, which includes the rail, ship, aviation, car, heavy truck, and defense industries. Light metals and alloys are characterized by lower density, higher strength-to-weight ratios, and generally lower toxicity than heavy metals. Aluminum, beryllium, titanium, and magnesium alloys are examples of lightweight metals. Light metals are frequently employed in materials and processes for enhanced performance qualities and reduced weight. Titanium is a refractory metal, and it has a high degree of heat & wear resistance. It does not corrode due to seawater or chlorine. The high cycle fatigue strengths of titanium alloys are superior to their tensile strengths. Its toughness is determined by the associated properties of texture, microstructure, strength, and composition. The market for titanium powder is anticipated to be driven by the growing usage of lightweight materials by the automotive, aerospace, and other manufacturing industries in the coming years.

Market Driver - Growing Application of Titanium in Consumer Electronics

Titanium powder usage in consumer electronics is rising quickly. In the consumer electronics sector, metal injection molding enables producers to produce complex and small parts that improve the operation and performance of electrical products. Fine metal powders and polymer binder materials are combined in this process to generate a feedstock that is injected into a mold and sintered into the desired shape. This reduces costs compared to conventional manufacturing techniques such as machining or casting. This enables producers to produce complicated forms with extreme precision. It is employed in consumer electronics, as titanium is strong and durable. High-quality consumer electronics make use of titanium and its alloys, due to its exceptional qualities, which include its high specific strength and resistance to corrosion. For instance, titanium has been utilized in consumer electronics to fabricate DSLR lens and shell components.

Market Restraints- High Price of Titanium Powder

Titanium is the ninth most abundant element overall and the fourth most prevalent metallic element on earth. Exploitable ore resources are widely dispersed across the globe in Australia, Canada, India, Malaysia, Norway, Russia, South Africa, and the US. Its commercially usable oxide ore is found in the minerals rutile and ilmenite as well as other iron ores. However, unobtanium has been used interchangeably with titanium, due to its characteristics and price. Ilmenite sand titanium ore is highly dispersed and has a low resource concentration, making it challenging to utilize for significant production. A range of extremely sophisticated atomizing methods are usually used to create titanium powders. These methods always start with the creation of a metal alloy, melting the material, and then using a different method to atomize the molten metal. These methods are typically costly, which raises the cost of titanium powder as a whole. Therefore, the high cost of titanium powders is expected to restraint the market in the coming years.

Market Opportunity- Sustainability in Titanium Powders

Titanium powder is being utilized increasingly in additive manufacturing (AM) to lessen its carbon impact, due of its special qualities. Therefore, approximately 95% of the titanium utilized by AM is recycled. Titanium recycling is attracting a lot of interest from businesses as well. For instance, the titanium metal manufacturer IperionX is concentrating on turning titanium scrap into titanium metal powders at its pilot plant in Utah. It plans to expand production at a titanium demonstration facility in Virginia, US. The company wants to be able to make high-performance titanium alloys from scrap titanium or titanium minerals with reduced energy, cost, and carbon emissions by applying unique metal processes. Many companies are trying to meet the demand for titanium powders in industries such as space, aerospace, defense, consumer electronics, hydrogen, electric vehicles, and additive manufacturing.

Scope of the Report  

The report on the global Titanium Powder Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Segmental Outlook

On the basis of purity, the titanium powder market is divided into Below 99% and 99% & above.

The below 99% purity segment held 5.3% market share in 2022, as this range of purity has wide applications in different industries. Its advantageous alloying chemical characteristics, low cost, and simple handling boosts the segment.

The 99% & above purity segment held 94.7% market share in 2022 and is expected to expand at a CAGR of 7.9% during the forecast period, due to its biocompatibility and resistance to corrosion. This makes it suitable for use in biomedical applications, thereby boosting the segment.

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Based on distribution channel, the global titanium powder market is categorized into manufacturers and distributors. The distributors segment is further divided into online and offline.

The manufacturers segment is anticipated to expand at a CAGR of 7.4% during the forecast period. Manufacturers engaging in direct sales have high control over their brand, price, and relationship with consumers, which results in increased profit margins and improved consumer experiences. Moreover, manufacturers offer customized titanium powder as per the end-user requirement, which boost the segment.

The distributors segment held 66.7% of the market share in 2022 and is expected to hold 68.1% of the market share in 2031. Distributors provide a large range of titanium powder options, providing end users with access to a wide selection of products and brands. Therefore, the online retail segment is anticipated to grow in popularity during the forecast period.

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Based on application, the global titanium powder market is categorized into automotive parts, aerospace components, industrial tools, medical and dental implants, and others.

The automotive parts segment is anticipated to expand at a CAGR of 8.8% during the forecast period. Automotive designers prioritize engineering motor vehicles and their parts with lightweight titanium powders to impart a suitable look and style to private cars. The use of titanium in automobiles significantly reduces the weight of the body, improves fuel efficiency, increases engine performance, promotes a clean environment, and reduces noise levels.

The aerospace components segment is anticipated to expand at a CAGR of 7.8% in the coming years. Titanium powder parts are highly valued in advanced aerospace systems, due to their light weight and high strength. These parts offer a unique combination of high specific strength, both at room temperature and moderately elevated temperature, making them an ideal choice for such systems. Additionally, their excellent corrosion resistance makes them a reliable and durable option.

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Based on the end-use industry, the global titanium powder market is categorized as aerospace and defense, chemical, automotive, medical and healthcare, and others.

The aerospace and defense segment is anticipated to expand at a CAGR of 7.8% during the forecast period due to its high strength-to-weight ratio, exceptional resistance to corrosion, and ability to perform under extremely high temperatures. The aviation sector has always been in search of ways to produce lightweight and fuel-efficient airplanes. Titanium powder provides the strength and durability that aircraft manufacturing companies require to achieve this goal without adding any excess weight.

The industrial segment is expected to expand at a CAGR of 7.2% during the forecast period owing to the rising demand for materials that can withstand harsh conditions and provide long lifespan to equipment.

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Regional Outlook

Based on regions, the market is separated into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America held a significant share of the market during the forecast period.

The market in North America is projected to expand at a CAGR of 8.3% during the forecast period, owing to the increasing demand for titanium powder from the aerospace industry. United States is mostly dependent on import for titanium powders. Many companies are opening their facilities in the region to meet the demand from end-use industries, such as aerospace parts, medical and dental implants, and industrial parts, among others.

The market in Asia Pacific is projected to expand at a CAGR of 7.9% during the forecast period. The region is one of the fastest growing regions in terms of production and consumption of titanium powders. Titanium has been increasingly used in the aerospace industry, due to its strength to weight ratio and durability. Furthermore, new applications, such as consumer goods and electronics are increasing the demand for titanium powder.

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Key Developments

• General Electric and Airbus partnership to provide Titanium powders.

In December 2021, A General Electric Additive company, AP&C, has announced that it has signed a new agreement with Airbus to provide Titanium powders (Ti-6AI-4V) for use in metal additive manufacturing applications. The new multiyear agreement to provide Ti-6AI-4V powders deepens AP&C’s working relationship with Airbus.

• Höganäs AB new product launch for additive manufacturing.

Höganäs AB expanded its product offerings by adding titanium powders for additive manufacturing to its product portfolio. The strategic initiative was aimed to cater the growing demand for additive manufacturing in the printing industry.

• Toho Titanium Co., Ltd.to Increase its titanium sponge production capability.

Toho Titanium announced its plans to expand its production capacity of titanium sponge by 10%. The strategic initiative was aimed to cater the growing demand from the aerospace sector. The aerospace sector is looking for alternate suppliers of titanium products to replace imports from Russia.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Electro Mechanical Brake Market

• Historical, Current and Projected Market Size in terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global Titanium Powder Market Performance