Titanium Ore Market – Market Overview
Titanium Ore can be defined as any mineral containing titanium in compounds and concentrations and it occurs mainly in igneous rock. Rutile and ilmenite are the two major sources of titanium ore among which ilmenite is the most preferred source for producing titanium metal after removing iron form it by chlorination process. Synthetic rutile, obtained from ilmenite through two processes namely chloride and sulphate process, is used for manufacturing titanium dioxide. Titanium ore finds application in titanium metal, pigments, coatings & lining, adhesives, engines, airframes, missiles, welding electrodes, and cosmetics & personal care products. It is widely used in the construction, automotive, and aerospace industry owing to high tensile strength, low density, and high corrosion resistance properties. The product use is increasing in biomedical applications such as surgical devices, dental implants, and bone plates.
Surging demand for white pigments from the end use industries such as paper, paints & coatings, and packaging industries is propelling the market growth. Rising influence of innovative packaging on the consumers is another factor driving the titanium ore growth. Asia Pacific accounted for the largest market share in 2017 as a result of growing industrialization and urbanization in the developing economies such as India and China. Presence of beach and sand dune deposits of ilmenite especially in India is majorly influencing the market growth in this region. For instance, V.V. Mineral is the largest manufacturer and exporter of titanium ore in terms of value in India. Flourishing automotive industry as a result of increasing spending on the automobiles coupled with rising per capita income. According to the Indian Brand Equity Foundation, overall automobiles production in India grew at around 14% year-on-year between April-February 2017-2018.
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Europe is another prominent region in the titanium ore market owing to availability of rare earth element in Greenland. Furthermore, BlueJay Mining’s Dundas Project in Greenland has been approved by the Government. This project is estimated to possess the highest grade mineral sand ilmenite.
Titanium Ore Market – Competitive Analysis
Titanium Ore is at the nascent stage and is expanding rapidly across the globe especially in the Asia pacific region owing to the growing transportation industry. Some of the growing trends noticed among the market players are acquisition and business expansion. For instance, in 2017 U.S. based Tronox limited purchased the titanium dioxide subsidiary “Cristal” from Saudi Arabia based Tasnee for USD 1.67 billion. This deal will make Tronox the largest titanium pigment producer in the World.
Industry/ Innovation/ Related News:
November, 2017– China based Lomon Billions, leading titanium dioxide giant, signed a MoU with Brazil based Mineracao Santa Elina. This step will help Lomon Billions to ensure sufficient supply of titanium ore for expansion and to strengthen its position in the world as an international player for titanium dioxide.
March, 2017– U.S. based Tronox limited agreed to buy the titanium dioxide subsidiary “Cristal” from Saudi Arabia based Tasnee for USD 1.67 billion. This deal will make Tronox the largest titanium pigment producer in the World.
September, 2016– Chemours inaugurated its new titanium dioxide production line at its Altamira plant in Mexico. This production line has been started to serve global customers with high performance a d environment sustainable products.
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