Titanium Market Report 2025

The titanium market size has grown strongly in recent years. It will grow from $27.23 billion in 2024 to $28.68 billion in 2025 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to aerospace advancements, military and defense applications, industrial expansion, medical implants and devices, sports equipment development.

The titanium market size is expected to see strong growth in the next few years. It will grow to $36.96 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to space exploration initiatives, infrastructure development, automotive industry trends, medical implants and prosthetics, expanding renewable energy sector. Major trends in the forecast period include industrial and chemical processing, space exploration endeavors, architectural and design applications, automotive industry trends, additive manufacturing growth.

The expanding automotive industry is anticipated to drive the growth of the titanium market in the coming years. The automotive industry encompasses the production, manufacturing, and sales of vehicles, including cars, trucks, motorcycles, and other modes of transport. Titanium is utilized in the production of engine components such as valves, valve springs, valve spring bearing seats, and connecting rods due to its excellent corrosion resistance and high strength. For example, in May 2023, the European Automobile Manufacturers Association (ACEA), a Belgium-based trade association, reported that global motor vehicle production increased by 5.7% in 2022, totaling 85.4 million units compared to production figures from 2021. Hence, the growth of the automotive industry is propelling the titanium market.

The rising use of titanium metal in the aerospace sector is expected to further stimulate the growth of the titanium market. With its high strength-to-weight ratio, titanium is ideal for aircraft structures that require both strength and lightness. Additionally, its resistance to high temperatures makes it suitable for jet engines. Titanium is employed in turbine engines to manufacture components such as compressor blades, disks, hubs, spacers, inlet cases, and seals. In September 2024, the Aerospace Industries Association, a U.S.-based organization, noted that the U.S. aerospace and defense industry reached a significant milestone in 2023, generating over $955 billion in sales, representing a 7.1% increase from the previous year. Therefore, the growing demand for titanium metal in the aerospace industry is expected to drive the growth of the titanium market.

Technological innovation emerges as a prominent trend in the titanium market, with major companies prioritizing the development of cutting-edge and inventive products to fortify their market positions. A case in point is Norsk Titanium, an aerospace and defense parts manufacturer based in Norway, which unveiled its inaugural additively manufactured near-net-shape titanium component for the semiconductor manufacturing sector in February 2023. Collaborating with Hittech Group, a machine industry company in the Netherlands, the 80kg titanium carrier tray replaces a forged plate, resulting in a 64% reduction (140 kg) in raw materials for semiconductors. This innovation not only optimizes the customer's existing supply chain but also facilitates capacity expansion without additional capital investment.

Strategic partnerships play a pivotal role among major companies in the titanium market, serving as a means to foster industry development. These partnerships empower companies to enhance their market presence, boost competitiveness, and seize new growth opportunities. An exemplar is the collaboration between Minerals Development Oman (MDO), a government agency based in Oman, and DUBAL Holding, an investment company in the UAE. In November 2022, they jointly launched the Sohar Titanium project, aimed at establishing a titanium dioxide production plant in the Sohar Freezone. Anticipated to contribute to the development of industries related to titanium dioxide, this initiative is set to provide a lucrative mining investment opportunity in the Sultanate, leveraging the country's modern industrial infrastructure.

In April 2022, Kymera International, a specialty materials company based in the United States, successfully acquired AmeriTi Manufacturing Company. The financial details of this acquisition were not publicly disclosed. This strategic move enabled Kymera to expand its portfolio of products and effectively enter into key markets such as aerospace, medical, defense, and industrial sectors. AmeriTi Manufacturing Company, the acquired entity, is a US-based manufacturer specializing in producing ferrotitanium, titanium sponge, titanium powders, and specialty forms. This acquisition significantly broadened Kymera International's capabilities and market reach within the titanium and specialty materials industry.

Major companies operating in the titanium market include Allegheny Technologies Incorporated, National Titanium Dioxide Company Ltd., CRS Holdings Inc., Nippon Steel Corporation, Osaka Titanium Technologies Co. Ltd., Precision Castparts Corp., Toho Titanium Co. Ltd., VSMPO-AVISMA Corporation, Global Titanium Inc., Sumitomo Corporation, Norsk Titanium AS, VV Titanium Pigments Private Limited, Daido Steel Co. Ltd., Kobe Steel Ltd., AMG Advanced Metallurgical Group N.V., Otto Fuchs Company, Mishra Dhatu Nigam Limited, Howmet Aerospace Inc., Perryman Company, Eramet SA.

Asia-Pacific was the largest region in the titanium market in 2024. The regions covered in the titanium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the titanium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Titanium is a shiny, silver-gray metal known for its exceptional resistance to corrosion, lightweight nature, and robust strength. Its remarkable properties make it a sought-after material in diverse industries such as power generation, utilities, automotive, and healthcare. This is primarily due to its outstanding strength-to-weight ratio, resilience to extreme temperatures, and resistance to chemical reactions.

The primary categories of titanium are industrial grade and medical grade. Industrial grade titanium, particularly Grade 4 titanium, is known for its lightweight quality and high tensile strength. It finds applications in various sectors such as aircraft components, hydraulic systems, and engine components. Several titanium-based products, including titanium concentrate, titanium tetrachloride, titanium sponge, ferrotitanium, and titanium pigment, among others, are utilized in industries such as paints and coatings, aerospace and defense, chemicals, electric power, and various other applications.

The titanium market research report is one of a series of new reports that provides titanium market statistics, including titanium industry global market size, regional shares, competitors with a titanium market share, detailed titanium market segments, market trends and opportunities, and any further data you may need to thrive in the titanium industry. This titanium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The titanium market consists of sales of titanium dioxide and titanium metal. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.