Market Forecast by Application (Aerospace & marine, medical, industrial, energy, pigments, additives & coatings, paper & plastics, and others), by Product Type (titanium concentrate, ferrotitanium, titanium sponge, titanium tetrachloride, titanium pigment, and others), By Regions (Latin America, North America, Europe, Asia Pacific, Middle East, and Africa) and Competitive Landscape
Product Code: ETC054684 | Publication Date: Mar 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 300 | No. of Figures: 90 | No. of Tables: 30 |
The Global Titanium market is witnessing a constant rise in demand due to its use in a wide range of industries such as aerospace, automotive, medical, and chemical processing. A few years later, the global titanium market was experiencing supply chain disruptions due to the COVID-19 pandemic and geopolitical tensions. However, the market has gradually recovered over the years. Currently, major titanium producers, such as Tronox and Iluka Resources, were expanding their production capacity to meet the increasing demand for titanium. Titanium producers and manufacturers were investing in research and development to improve the performance of titanium alloys and to develop new applications for titanium. These initiatives have also helped the players to enhance their market share in the Global Titanium industry.
Environmental concerns related to titanium mining and processing were increasing, leading to greater scrutiny of the industry's practices and calls for more sustainable production methods. The Asia-Pacific region was the largest market for titanium in 2021 and is expected to continue to be the leading region during the forecast period. The growth in the region can be attributed to the increasing demand for titanium in the aerospace and automotive industries. Further, the prices of titanium have been on the rise due to the limited availability of raw materials and the high cost of production. This has led to a shift towards alternative materials, especially in industries such as construction and consumer goods. Moreover, as the demand for titanium grows, the importance of recycling has also increased. The recycling of titanium not only helps conserve natural resources but also reduces the environmental impact of mining and production. In addition, with the increasing demand for titanium, there have been significant technological advancements in the manufacturing processes and development of new alloys. This has led to improved properties and performance of titanium, making it more attractive to industries looking for high-strength, lightweight materials.
The global titanium market has witnessed growth on account of the increase in the production of new aircraft, the rise in defence products, and the increase in automotive production. An increase in the population using passenger aircraft, innovative product development, mode of transport, increase in the electric vehicle, growing affordability along with increasing income, and increasing demand for SUV’s and lightweight vehicles leads are expected to propel the demand for the market.
According to 6Wresearch, the Global Titanium Market size is anticipated to register growth during 2020-2026. The introduction of new production facilities in China is also expected to proliferate the production rate of titanium. The sulphate process is expensive owing to rising environmental issues. Moreover, the carbo-chlorination is costlier but environment friendly which will further shift the market towards the sulphate process. This will also create transitioning issues for companies. The outbreak of COVID-19 negatively impacted the construction sector owing to causing a shortage of labour and disruption in the supply chain. The slower completion of projects owing to the unavailability of raw materials and higher material costs hampered the development of the market.
On the basis of application, aerospace & defence is the largest industry segment, however, COVID-19 has disrupted the growth of the industry.
On the basis of region, Asia Pacific accounted for the highest revenue share in the overall Titanium Market. Moreover, China is the largest contributor on the back of rising demand from the chemical, high-end aerospace, medical and environmental protection sector.
The report provides a detailed analysis of the following market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Titanium Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Titanium Market Revenues & Volume, 2019 & 2026F |
3.3 Global Titanium Market - Industry Life Cycle |
3.4 Global Titanium Market - Porter's Five Forces |
3.5 Global Titanium Market Revenues & Volume Share, By Regions, 2019 & 2026F |
3.6 Global Titanium Market Revenues & Volume Share, By Product Types, 2019 & 2026F |
3.7 Global Titanium Market Revenues & Volume Share, By Applications, 2019 & 2026F |
4 Global Titanium Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Titanium Market Trends |
6 Global Titanium Market, 2016 - 2026 |
6.1 Global Titanium Market, Revenues & Volume, By Product Types, 2016 - 2026 |
6.2 Global Titanium Market, Revenues & Volume, By Applications, 2016 - 2026 |
7 North America Titanium Market, 2016 - 2026 |
7.1 North America Titanium Market, Revenues & Volume, By Product Types, 2016 - 2026 |
7.2 North America Titanium Market, Revenues & Volume, By Applications, 2016 - 2026 |
8 Asia Pacific Titanium Market, 2016 - 2026 |
8.1 Asia Pacific Titanium Market, Revenues & Volume, By Product Types, 2016 - 2026 |
8.2 Asia Pacific Titanium Market, Revenues & Volume, By Applications, 2016 - 2026 |
9 Europe Titanium Market, 2016 - 2026 |
9.1 Europe Titanium Market, Revenues & Volume, By Product Types, 2016 - 2026 |
9.2 Europe Titanium Market, Revenues & Volume, By Applications, 2016 - 2026 |
10 Middle East Titanium Market, 2016 - 2026 |
10.1 Middle East Titanium Market, Revenues & Volume, By Product Types, 2016 - 2026 |
10.2 Middle East Titanium Market, Revenues & Volume, By Applications, 2016 - 2026 |
11 Latin America Titanium Market, 2016 - 2026 |
11.1 Latin America Titanium Market, Revenues & Volume, By Product Types, 2016 - 2026 |
11.2 Latin America Titanium Market, Revenues & Volume, By Applications, 2016 - 2026 |
12 Africa Titanium Market, 2016 - 2026 |
12.1 Africa Titanium Market, Revenues & Volume, By Product Types, 2016 - 2026 |
12.2 Africa Titanium Market, Revenues & Volume, By Applications, 2016 - 2026 |
13 Global Titanium Market Key Performance Indicators |
14 Global Titanium Market - Opportunity Assessment |
14.1 Global Titanium Market Opportunity Assessment, By Regions, 2019 & 2026F |
14.2 Global Titanium Market Opportunity Assessment, By Product Types, 2019 & 2026F |
14.3 Global Titanium Market Opportunity Assessment, By Applications, 2019 & 2026F |
15 Global Titanium Market - Competitive Landscape |
15.1 Global Titanium Market Revenue Share, By Companies, 2019 |
15.2 Global Titanium Market Competitive Benchmarking, By Operating and Technical Parameters |
16 Company Profiles |
17 Recommendations |
18 Disclaimer |