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Technavio’s market research analyst predicts that the global titanium ore mining market will grow at a slow but steady CAGR of over 2% during the forecast period. One of the primary drivers for this market is the growing demand for titanium in industries like plastic, paper, and wallboard as it imparts a white color. Titanium dioxide is increasingly being used as a substitute to lead mainly by the paint industry as it helps to mitigate environmental concerns. With the use of titanium dioxide nanoparticle in high-proficiency photovoltaic fittings, the growth prospects for this market will have a positive outlook until the end of 2020.
An important trend spurring growth in this market is the emerging applications of titanium. In this industry report, the analysts have estimated that titanium will also be used in applications related to heat exchangers, chemical process and bleaching equipment in the paper industry. The advent of geothermal energy technologies is also expected to elevate the demand for titanium as the metal has a higher melting point than steel. The low lifecycle cost of titanium in these applications will make it a preferred material for various applications over the next few years.
The ilmenite segment is the largest in the titanium ore mining market and is expected to generate close to 7 million metric tons by the end of the forecast period. Ilmenite is an important ore of titanium and is consumed in its natural form to manufacture titanium slag and other synthetic rutile products. Since ilmenite contains more than 46% titanium dioxide, it can be used to beneficiate titanium concentrates.
The APAC region was the market leader in the global titanium ore mining market with approximately 47% market share in 2015. Increased demand for pigments in the automotive and construction industries will ensure robust market growth during the forecast period. Titanium’s rising demand from emerging economies in the APAC region will also play a significant role in fostering market growth.
The global titanium ore mining market has a limited number of mining companies. However, most of the market shares are concentrated among producers. Titanium is found in two forms, namely ilmenite and rutile. Around 5% of titanium concentrate is used to produce metal, and the rest is used by titanium dioxide manufacturers to supply titanium dioxide pigments so that the paint and plastics manufacturers can enhance properties like strength and opacity in products.
Key vendors in the market are -
Other vendors in the market include Base Titanium Limited, Yunnan Dahutong Investment Group, Sierra Rutile Limited, Cristal Mining Australia Limited, and Zhongsheng Resources Holdings Limited.
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Titanium is one of the most abundant structural metals present in the Earth’s crust. It is widely distributed and occurs chiefly in the minerals ilmenite and rutile. These mineral sources are extracted from sand containing only a small percentage of these sources by weight. Once the minerals are separated, the remaining sand is returned to the deposit, and the land is re-cultivated.
The report, global titanium ore mining market, is part of Technavio’s chemicals and materials research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as additives, adhesives and sealants, agrochemicals and fertilizers, bio-chemicals and bio-materials, chemical engineering equipment, glass and ceramics, industrial gases, metals and minerals, olefins, paints, coatings, and pigments, personal protective equipment, plastics, polymers, and elastomers, and specialty chemicals. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by ore type
PART 07: Market segmentation by end user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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