Ilmenite Market - Size, Share, Trends, and Forecast 2019 - 2027

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

The global ilmenite market size is expected to witness potential gains in the future, and register a significant CAGR of 4.2% over the forecast period (2019 - 2027).

Market Overview

Ilmenite is a titanium-iron oxide mineral and an important constituent of beach sand deposits. Sulfate process or the chloride process is used to convert ilmenite into pigment grade titanium dioxide. The Becher process can be used to improve and purify ilmenite to obtain rutile, a mineral used in paints, plastics, paper, foods, and other applications. Ilmenite is majorly found in eastern coast and western coast of Australia; Richards Bay in South Africa; eastern coast of America; Kerala in India; and eastern coast and southern coast of Brazil. Cr-rich picroilmenite, ferrian ilmenite, and hystatite are some of the verities of ilmenite.

 Market Dynamics

Ilmenite is majorly used for production of white titanium dioxide pigment. It is also used in manufacturing of all types of white and pastels shades of paints, white-walled tires, glazed papers, plastics, printed fabrics, flooring materials such as linoleum. Therefore, increasing demand for paints and coatings is expected to boost the market growth for ilmenite. Increasing demand for paper and plastics is also expected to contribute to growth of the global ilmenite market.

However, increasing concerns about adverse effects of mining activity is expected to retrain growth of the global ilmenite market. Moreover, titanium dioxide is classified as a carcinogen by the International Agency for Research on Cancer (IARC). These factors are expected to hinder the market growth to some extent.

Ilmenite was found in Moon rocks. Although mining for commercial purposes is not allowed, key players may focus on research and development through major space agencies. This may help for commercialization of ilmenite, if allowed, in the near future.     

Market Outlook

Asia Pacific holds dominant position in the global ilmenite market and is expected to maintain its dominance during the forecast period. This is owing to presence of major sources of ilmenite in the region. Ilmenite is found in eastern coast and western coast of Australia and in India. The market is also expected to be the fastest growing market, owing to significant growth in the paints and coating industry in countries such as India and China.

Key Players

Key players operating in the global ilmenite market include, Shanghai Yuejiang Titanium Chemical Manufacturer Co., Ltd., Jiangxi Jinshibao Mining Machinery Manufacturing Co., Ltd., Abbott Blackstone, and Yucheng Jinhe Industrial Co., Ltd.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
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In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

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  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
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  • System Integrators
  • Distributors
  • End-users

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