Titanium Ore Market Uses, Price, Key Player, Analysis, Size, Type and Forecast Business Opportunities, Current Trends, Forecast by 2023

 Market Insights

Titanium is derived from titanium ore and has a wide number of applications across various end-use industries. Applications of titanium ore derivatives include pigments, additives, aerospace, marine, industrial, consumer goods, automotive applications, jewelry, healthcare, and several others. Market Research Future's extensive evaluation of the market has resulted in various findings which reveal important facts and figures related to market growth. The titanium ore market is slated to witness good growth over the forecast period.

The increasing use of synthetic rutile as a raw material in the production of titanium dioxide is a key factor contributing to growth as it expands the volume of production to meet growing demand. Various end-use industries are witnessing rapidly increasing demand, and as a result, the demand for titanium dioxide has grown considerably. In paints and packaging, titanium ore derivatives are used to produce high-quality pigments which display a high refractive index, brightness and opacity. Various other desirable properties of titanium ore drive the demand in end-use industries. These end-use industries are witnessing high demand largely due to growing urbanization which has resulted in rapid industrialization as well as a general increase in disposable income. As a result, consumers across the globe, particularly in emerging economies are expected to propel demand for automotive, healthcare and other industries where titanium ore is in high demand.

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Although stringent regulations are not in place, growing environmental concern, and the hazardous waste generated during the titanium dioxide production process is likely to result in strict policies restricting the use of titanium ore derivatives. This, in turn, is expected to deter growth to a certain extent. However, the demand for titanium dioxide is unlikely to dip, and consistent demand will lead the market toward an overall positive outlook.

Market Segmentation

The market's various components have been segmented in MRFR's report on the basis of type, application, end-user, and region. Types of titanium ore include rutile, leucoxene, ilmenite, and others.

Applications of titanium ore include titanium metal, pigments, coatings & linings, welding electrodes, and others.

End-use industries where titanium ore is in high demand include aerospace, automotive, healthcare, and others.

Main regional segments which have been included in the report's analysis include Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.

Regional Analysis

Among the various regions covered in the global titanium ore market, the Asia Pacific market is at the forefront with the largest share. The region is naturally rich in reserves of titanium ore, particularly India. The increasing demand for lightweight vehicles, and the presence of a large automotive manufacturing sector in countries with rapid economic development such as China, and India are expected to drive market growth over the forecast period. Moreover, titanium ore has been witnessing increasing applications in the production of welding electrodes due to the rapidly expanding transportation & automobile industry in India. Another key driver for the region's growth is the rising disposable income and rapid healthcare reforms. Healthcare reforms have resulted in the demand for advanced medical equipment and devices, thus driving the demand for titanium ore.

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North America is also a highly significant market due to the abundant availability of ilmenite which is a type of titanium ore. The ongoing expansion of the region's automotive and aerospace sectors in the U.S will likely propel market growth over the forecast period. Moreover, the region's well-developed countries are witnessing a trend of preference for innovative packaging and eco-friendly products which have increased the demand for pigments.

Key Players

Market participants of importance in the global titanium ore market have been identified in MRFR’s report, and their growth strategies have been analyzed. Market players in the report include Shanghai Yuejiang Titanium Chemical Manufacturer Co., Ltd, Stork Group, V.V Minerals, Cosmos Electrodes PVT Ltd, Royalty Minerals, Yucheng Jinhe Industrial Co., Ltd, Trimex Sands PVT Ltd, Chemours, Iluka Resource Limited, Tronox Limited, and Hatch Ltd.

Latest Industry News

·         PPG and Lomon Billions have entered an expanded agreement. Lomon Billions has committed to supply additional quantities of titanium dioxide to PPG.

·         Showa Denko KK has completed the expansion of the production capacity of nanoparticle titanium dioxide.