Overview of the global titanium ore mining market
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.
Segmentation by ore type and analysis of the titanium ore mining market
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.
Geographical segmentation of the titanium ore mining market
- APAC
- Europe
- North America
- ROW
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.
Competitive landscape and key vendors
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 -
- The Chemours
- Iluka Resources
- Rio Tinto
- Trimex Sands
- Tronox
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.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global titanium ore mining market?
- What are the key market trends impacting the growth of the global titanium ore mining market?
- What are the challenges to market growth?
- Who are the key vendors in the global titanium ore mining market?
- What are the market opportunities and threats faced by the vendors in the global titanium ore mining market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global titanium ore mining market?
Technavio also offers customization on reports based on specific client requirement.
Related reports
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.