PUBLISHER: Grand View Research | PRODUCT CODE: 1530110
PUBLISHER: Grand View Research | PRODUCT CODE: 1530110
Titanium Market Size & Trends
The global titanium market size was estimated at USD 2.44 billion in 2023 and is projected to grow at a CAGR of 6.2% from 2024 to 2030.The growth of the travel & tourism industry has also led to an expansion of the civil aviation segment, propelling the demand for titanium. The rise in defense expenditure for modernized equipment, systems, and aircraft on account of growing territorial disputes has further contributed to market growth.
Titanium sponge is produced using the Kroll process on titanium ore. In the process, titanium tetrachloride is heated with magnesium metal to 900 degrees Celsius. After the process is completed, magnesium is extracted from a lump of titanium sponge. In the final stage, the sponge is crushed into small pieces with the help of crushers and shears. Various-sized particles are mixed in a blender to get a uniform-quality sponge.
Global Titanium Market Report Segmentation
This report forecasts revenue and volume growth at global, country, and regional levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global titanium market report based on end-use, and region:
U.S.
Canada
Mexico
Germany
UK
Spain
Russia
China
India
Japan
Brazil
GCC