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 intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.