Titanium Market is projected to reach USD 34,738 Million by 2028, registering a CAGR of 6.3% during the forecast period (2021-2028), because of the increasing demand for titanium across paints and coatings industry.

Introduction of the Titanium Market Report

Titanium is a transition metal having a white-silvery metallic appearance, and it is one of the strongest metals with the strength of more than 430 megapascals. It is more vital than steel, lighter in weight, and is abundant, which makes it extremely useful. It can be used as a pigment in house paint, jewellery, plastics, enamels, goalie masks, and many more. Titanium connects well with the bones, so it has also found surgical applications such as joint replacements and tooth implants.

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Market Dynamic 

Key Drivers and Emerging Trends

The titanium industry is forecast to witness a smooth growth curve over the upcoming years. The chief factor fueling the market size includes increasing application of titanium across aerospace, construction, chemical processing, and automobile end-use industries, owing to the higher strength and durability. Rapidly rising urban population, growing demand for lightweight vehicles, rising per capita income, and increase in housing and construction sector will further augment the market growth. Further, the growing use of titanium in several medicinal applications which include defibrillators, pacemakers, owing to their great compatibility with human body has propelled the market share.
Moreover, the growing awareness about the remarkable advantages offered by titanium which include heat resistance and fuel efficiency are expected to fuel the market growth. With the rising environmental concern and fuel efficiency, the demand for lightweight vehicles has increased, driving the market growth. Additionally, as per the titanium market research reports, the ongoing technological innovations and increase in research and development activities are projected to offer enormous opportunities for the market. However, the higher cost of titanium owing to the expensive extraction of titanium from ore is predicted to restrain the market growth.

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Product Type- Segment Analysis

Titanium dioxide is predicted to lead the market over the upcoming years, owing to its growing use as pigments in paints and coatings formulation. The adoption of titanium di-oxide as a UV filtering ingredient in sunscreen to prevent the skin from UV light which may cause skin burn and skin cancer, which will expand the regional growth. Moreover, according to the titanium market forecast, the significant expansion of automotive industry primarily across the Japan, China, and India is forecast to strengthen the segment’s growth.

End-use Industry – Segment Analysis

Aerospace & marine segment is estimated to dominate the titanium market over the forecast period, because of the stability and higher weight-to-strength ratio. The high corrosion resistance, ability to resist high temperatures, and high tensile strength has made titanium suitable for aerospace & marine industry, driving the segment’s growth. For instance, Continental Steel and Tube company uses titanium alloy, which accounts for almost 50% of all alloys used in aircraft.

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Regional – Segment Analysis:

Asia Pacific is predicted to witness a faster CAGR over the forecast period, primarily because of the low-cost, sea water resistance, aesthetic quality, and low density. Also, the region is a home for several leading players including Osaka Titanium Technologies co., Ltd., Lomon Billions Group, Shanghai Jiuta Chemical Co., Ltd., will augment the market growth. Moreover, growing adoption of titanium across plastics, chemicals & petrochemicals, oil & gas, construction, and aerospace and the increase in construction activities in India, China, and south Asian countries will propel the market growth. Rise in defense budgets of leading economies in the APAC region is another factor fueling the regional growth.

Top Market Players 

Various notable players operating in the market include Vsmpo-Avisma, ATI Metals, Titanium Metal Corporation, Chemours Company, Venator Materials, Plc., Tronox Holdings, Plc., Lomon Billions Group, Kronos Worldwide Inc., AMG Advanced Metallurgical Group NV, Allegheny Technologies Incorporated, and among others.

Key Developments:

• • In 2021, the New Energy and Industrial Technology Development Organization (NEDO) initiated the “Strategic Innovation Program for Energy Conservation Technologies ” under which the Low-Cost Low-Energy-Consumption Titanium Manufacturing technology developed by the Toho moved to the demonstration development phase.
  • In 2020, SK Capital acquired nearly 40% of Venator’s outstanding shares from Huntsman Corporation with the option to acquire the remaining 9.7 million shares within 30 months.
  • In 2020, UKTMK JSC and the Indian company IREL Limited entered into a partnership to develop Kazakh-Indian joint venture for the production of titanium slag.
  • In 2019, AMG Advanced Metallurgical Group NV acquired International Specialty Alloys, a producer of Titanium master alloys. Through this acquisition, the company has planned to increase its market position in aerospace market in North America and Europe region.

Segments covered in the Report:

The global Titanium Market has been segmented based on product type, end-use Industry, and region. Based on product type, market is segmented into Titanium dioxide, Titanium Tetrachloride, Ferrotitanium, and other. Based on end-use Industry, market is segmented into Aerospace & marine, Industrial, Medical, Energy, Additives & Coatings, Papers & Plastic, and others.

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Key questions answered in this research report:

• • At what pace is global titanium market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in titanium market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global titanium market?
  • Which product type generated maximum revenues in 2020 and identify the most promising product type during the forecast period?
  • What are the various end-use industry areas of global titanium market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues (2028)	USD 34,378 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product Type, By End-use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Vsmpo-Avisma, ATI Metals, Titanium Metal Corporation, Chemours Company, Venator Materials, Plc., Tronox Holdings, Plc., Lomon Billions Group, Kronos Worldwide Inc., AMG Advanced Metallurgical Group NV, Allegheny Technologies Incorporated, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Titanium Market by Product Type

• • Titanium dioxide
  • Titanium Tetrachloride
  • Ferrotitanium
  • Others

Global Titanium Market by End-use Industry

• • Aerospace & marine
  • Industrial
  • Medical
  • Energy
  • Additives & Coatings
  • Papers & Plastic
  • Others

Global Titanium Market by Region

• • North America Titanium Market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By End-use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Titanium Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By End-use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Titanium Market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By End-use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Titanium Market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By End-use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Titanium Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Vsmpo-Avisma
  • ATI Metals
  • Titanium Metal Corporation
  • Chemours Company
  • Venator Materials, Plc.
  • Tronox Holdings, Plc.
  • Lomon Billions Group
  • Kronos Worldwide Inc.
  • AMG Advanced Metallurgical Group NV
  • Allegheny Technologies Incorporated