Albany, NY -- (SBWIRE) -- 08/10/2018 -- Titanium, a compound element, is a radiant transition metal with high strength and low density. It is silver in color and exhibits high resistance properties. The aviation and aerospace industries are the key end-users of this product. Owing to the metal's light weight, it is mostly used in space crafts, ships, aircrafts, and electrodes. Its rising application in anodic spark depositions and large-scale exhausts is predicted to drive the titanium market over the forecast period. The titanium ore mining market is projected to expand rapidly due to the growing demand for pure titanium and its commercial usage in the marine, industrial, biomechanical, and automotive sectors.
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Owing to its high resistance and corrosion property, titanium has been increasingly preferred in the construction sector for bleaching equipment in paper & pulp plants, chloride production, and heat exchangers. Due to the rising environmental concerns across the globe, titanium oxide has been increasingly employed as an auxiliary of lead, primarily in the paints industry. The growing use of titanium oxide nanoparticles in high expertise photovoltaic fittings has been a motivating factor for the titanium ore mining market. The introduction of geothermal energy technologies for titanium which displays a higher melting point than steel and its low maintenance cost are likely to play a crucial role too. Titanium ore mining process involves the extraction of titanium and preparation of titanium alloys and compounds for use in various products.
Data related to different types of ore that is available in the market including ilmenite and rutile has been lime lighted in this report. The former accounted for a major market share in 2016 and is expected to retain its dominant position over the forecast period. Ilmenite is a vital ore of titanium, widely used in its natural form and other related rutile synthetic products. It contains almost half of titanium oxide, so it can beneficiate titanium concentrates. On the other hand, rutile is predicted to witness the most promising growth during the forecast period from 3On the basis 2017 to 2025 owing to extensive use of the product across various end-users segment. Of end-user, the titanium ore mining market is segmented into the aviation, automobile, marine, and others sectors. Aviation held the leading share in the market in 2016 and is anticipated to retain its position over the forecast period.
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In addition information related to current market conditions along with in-depth analysis regarding future growth prospective of all the above mentioned segments including ore type and end-users across different regions including Asia Pacific, North America, Europe, Middle East and Africa (MEA) and Latin America is also highlighted in this report. Asia Pacific constituted the dominant market share in 2016 and is projected to retain its position over the forecast period due to rising demand for pigments across the construction & automotive industries and the presence of emerging economies such as China and India in this region. North America accounted for a considerable market share on account of the developed aviation and automotive sectors. The rising use of titanium in coatings, additives, and the medical industry propelled the titanium ore mining market in Europe, led by Germany and the U.K. Middle East & Africa is estimated to be an emerging region for the titanium ore mining market over the forecast period.