Titanium Sponge Market: Overview
- Titanium sponge is an intermediate product used in the production of titanium ingot & billet and titanium powder. Titanium sponge is a porous form of titanium.
- Titanium sponge produced through the Kroll process is used extensively in aircraft engines, fuselages, chemical plants, oil and gas plants, electric power & desalination plants, building structures, automobile products, and biomedical devices
Manufacturing Process of Titanium Sponge
- The Kroll process involves the following four steps: (i) Titanium ores are stripped of oxygen and chlorine gas is blown into chlorinator, which binds with ore forming crude titanium tetrachloride. Crude titanium tetrachloride [TiCl4] is then distilled to remove impurities to produce it in its purest form; (ii) Molten magnesium is fed into a vessel, where a reduction reaction occurs with liquid titanium tetrachloride, which further forms titanium sponge. Vacuum is generated inside the vessel with the help of an electric heater. As a result, the remaining magnesium and magnesium chloride in titanium sponge evaporates and produces high purity titanium sponge; (iii) magnesium chloride formed during the reduction process is further decomposed into chlorine gas and magnesium by electrolysis. Chlorine gas can be reused in chlorination process; (iv) titanium sponge gets extracted from the vessel and crushed into smaller pieces with the help of guillotine cutter, shear, and crusher.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of Titanium Sponge Market report
Key Drivers of Titanium Sponge Market
- The aerospace & defense sector accounts for major share of titanium sponge market. Titanium sponge is an important raw material that is used in the production of aircraft engines and fuselage & military airframes owing to its excellent set of properties such as high strength-to-weight ratio, high strength at high temperatures, corrosion resistance, and thermal stability. Boeing and Airbus are the only two aircraft manufacturers that employ titanium sponge in the production of aircraft frames and components. Boeing, a U.S.-based aerospace company, delivered a record number of commercial jets in 2018, reaching 806 planes compared to the previous record of 763 in 2017. Airbus, another key player, achieved 800 commercial jet deliveries in 2018 compared to 718 in 2017. Despite the slowdown in demand caused by Covid-19, this figure is estimated to increase after 2020, when global restriction on international air travels eases.
- Titanium sponge also has a wide range of industrial applications in the chemical & petrochemical industry. Titanium sponge is used in the chemical & petrochemical industry for corrosion resistance in equipment such as heat exchangers, tanks, process vessels, and valves. Growth in manufacturing sector of countries in Asia Pacific such as Vietnam, India, and Thailand is expected to drive the demand for titanium sponge in industrial applications in the near future.
- Other major industrial end-users of titanium sponge include power plants, desalination plants, pollution control equipment producers, and aluminum and steel industries
Key Restraints of Titanium Sponge Market
- As per the International Air Transport Association (IATA), air traffic is estimated to be down by 48% in 2020 due to the Covid-19 pandemic. Airline passenger revenue is anticipated to decline by 55% or US$ 314 Bn by the end of 2020. This is estimated to negatively impact the titanium sponge market till international travel resumes across the globe.
Trends in Titanium Sponge market
- In February 2020, VSMPO-Avisma Corporation announced plans to increase its production output of titanium sponge, a raw material used to produce titanium, by 10% to 44,000 tons for the year. The company also increased its production output of titanium products by 15% to 33,000 tons in 2018.
- On February 27, 2020, the U.S. President Donald Trump announced that he would not impose any additional duty on the import of titanium sponge. As per the report published by the U.S. Department of Commerce, the U.S. imports 94.4% of titanium sponge from Japan. Imports are adversely affecting U.S.-based manufacturers of titanium sponge.
- In 2019, Yunnan Xinli Nonferrous Metals Co. Ltd., a subsidiary of Lomon Billions Group, produced its first batch of 10,000 tons of titanium sponge
Expanding operations in future? To get the perfect launch ask for a custom report on Titanium Sponge market
Key Manufacturers Operating in Titanium Sponge market
Key manufacturers operating in the global titanium sponge market include:
- Kerala Minerals and Metals Ltd (KMML)
- TOHO TITANIUM CO., LTD.
- OSAKA Titanium Technologies Co.,Ltd
- Baoji First Titanium Industry (Group) Co., Ltd.
- Chaoyang Jinda Titanium Industry Co Ltd
- Luoyang Sunrui Wanji Titanium Industry, Co., Ltd.
- Zaporozhye Titanium & Magnesium Combine
- Titanium Metals Corporation
- Arconic Inc.
- Western Metals Minerals Co. Ltd.
- RTI International Metals, Inc
- Allegheny Technologies Inc.
- Howmet Corporation (Alcoa, Inc.)
Global Titanium Sponge Market: Research Scope
Global Titanium Sponge Market, by Titanium Content
- 99.7% - 99.99 %
- 99.5%- 99.7 %
- 99.3% -99.5 %
- Less than 99.3 %
Global Titanium Sponge Market, by End-use Industry
- Aerospace & Defense
- Oil & Gas
Global Titanium Sponge Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.