Titanium Concentrate Market Analysis:
Titanium is a silver grey, shaded metal found in abundance among all minerals. It has high melting point and offers excellent corrosion resistant properties, heat properties, and strength to weight proportion. Titanium is extracted from ores of IImenite and rutile. Titanium concentrate is produced from removing water from titanium solution. Titanium concentrate is used in various applications, such as water treatment, fuel cell, solar applications, and others, where high surface areas are needed. Furthermore, it possesses high strength, high melting point, high resistance, and others. Titanium products are mostly used in the aerospace industry, owing to their high strength to weight ratio and high temperature properties.
COVID-19 scenario analysis:
- The titanium concentrate industry has been affected, owing to the shutdown of manufacturing operations and decrease in demand from various end users excluding healthcare.
- The COVID-19 pandemic has disrupted economies, influencing important tasks and prompting a modern calamity.
- The global titanium concentrate market focuses on geological development, division, and market elements, including drivers, limitations, restraints, and opportunities.
- Decrease in air traffic across the globe has decreased the demand for titanium concentrate materials, which, in turn, is expected to affect the market till the first half of 2021.
- With the spread of coronavirus, various facilities of end-user industries have stopped working. This followed with the decline in demand for chemical substances used in these facilities.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Titanium has major properties, for example, high elasticity to thickness proportion, high corrosion opposition, weakness obstruction, high split opposition, and others. Titanium concentrate has the capacity to withstand reasonably high temperatures without crawling. These properties make titanium the perfect metal to use in airplanes, covering plating, maritime boats, space specialties, and rockets. Titanium concentrate is utilized in chemical and petrochemical industries due to its solid consumption property. In addition, due to its nontoxic nature, it is utilized in numerous clinical accessories, for example, hip balls, attachments, and dental inserts.
The key factor that drives the growth of the titanium concentrate market is the easy availability of raw materials. In addition, increase in demand from industries, such as aerospace, automotive, healthcare, and others, fuels the market growth globally. However, stringent regulations on the emission of hazardous waste produced from the manufacturing of titanium concentrate are expected to hinder the growth of the global titanium concentrate market. Increase in demand for titanium concentrate type, such as rutile, and R&D toward eco-friendly manufacturing methods create opportunities for key players to maintain their position in the global market.
Usage and expansion of the market
Titanium concentrates are utilized to create titanium metal and as an added substance of titanium amalgam. Titanium tetrachloride is an inorganic compound utilized in the creation of titanium metal and pigment titanium dioxide. Further, it is mainly utilized in intermediates, colors, plating specialists, and surface treating agents. Titanium sponge is framed when titanium tetrachloride is passed in a vaporous stage over liquid magnesium or sodium. Titanium sponge is utilized in airplane business to make vital motor parts, heat exchangers, and essential motor parts. Ferrotitanium is a ferro-alloy, essentially utilized in steelmaking. By grade, ferrotitanium can be partitioned into two evaluations, the first containing around 35% titanium and the second containing generally 70% titanium. Therefore, ferrotitanium is significantly utilized in steel and tempered steel handling units, paints, varnishes, and military airplanes.
North America and Europe are expected to be the major markets for titanium, driven by the upswing in development of aviation and marine industries. Titanium organizations in Asia-Pacific and Latin America are focusing on innovation due to the product’s favorable properties such as low thickness, high quality, and high resistant to corrosion. Therefore, this has prompted interest for titanium in Asia-Pacific and Latin America. The top producers of titanium concentrates include China, Canada, India, South Africa, Australia, and Ukraine.
Key benefits of the report:
- This study presents the analytical depiction of the titanium concentrate market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the titanium concentrate market share.
- The current market is quantitatively analyzed to highlight the titanium concentrate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the titanium concentrate market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Titanium Concentrate Market Report Highlights
By Industry Vertical
Key Market Players
Allegheny Technologies Incorporated, Ineos, Tronox Holdings Plc., IREL (INDIA) Limited, Toho Titanium Co. Ltd, Huntsman International LLC, RTI International Metals, Iluka Resources Ltd., VSMPO-AVISMA Corporation, Titanium Metal Corporation, Sumitomo Chemical Co. Ltd., DuPont