Global Titanium Ore Mining Market 2016-2020

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

• Ilmenite
• Rutile