Titanium Sponge Market, by End-use Industry (Aerospace, Marine, Defense, Energy, Medical, Chemical, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2015 - 2026

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

Titanium sponge is porous titanium that is produced by Kroll process. The properties of titanium sponge are corrosion-resistant, fire and shock resistance, lightweight, and recyclable. It is used in the production of titanium alloys, ingots, and alloys. The other applications of titanium sponge includes in aerospace, armor, oil and gas, power generation, marine, chemical processing, medical, and sporting goods sectors. China, Russia, Japan, Kazakhstan, and Ukraine are few major titanium sponge producing countries.

Market Dynamics

Titanium sponge is majorly used in air and space vehicles in air frames and engine parts. Growing aerospace industry is one of the major factors driving growth of the global titanium sponge industry. According to India Brand Equity Foundation, domestic and international aircraft movements grew by 14.40% Y-o-Y and 9.40 % Y-o-Y during 2017-2018 in India, which in turn is expanding the aerospace industry thereby, fuelling growth of the titanium sponge market.

Growing demand for titanium sponge from energy sector including oil & gas and power generation is aiding growth of the global titanium sponge market. According to the U.S. Energy Information Administration, world energy consumption was 575 quadrillion British thermal units (Btu) in 2015, which is estimated to reach 736 quadrillion Btu in 2040.

Availability of substitute products is hindering growth of the global titanium sponge market globally. For instance, in applications where high strength is required, titanium sponge can be replaced by zirconium alloys and specialty steels among others.

Market Outlook

  • North America held significant market share in 2017, in the global titanium sponge market. According to the U.S. Geological Survey, 2018, the consumption of titanium sponge in the U.S. was 31,200 tons in 2015, which increased to 37,000 tons in 2016.
  • Growing demand for titanium sponge is attributed to growing aerospace and defense industry in North America. For instance, according to Aerospace Industries Association (AIA), the aerospace and defense industry in the U.S. generated US$ 872.1 billion in sales in 2016.
  • Asia Pacific is expected to be the fastest growing titanium sponge market during the forecast period (2019-2026), owing to increasing demand from China, India, Japan, and South Korea. In 2011, titanium sponge plant was set up in Kerala, India to cater demand of titanium sponge from the defense and aerospace sector in the country.
  • Expansion in aviation, defense, and marine sectors is supporting growth of the titanium sponge market in Asia Pacific. According to International Trade Administration, in 2016 China's civil aviation transportation was 96 billion tons km and increased by 12.8% from 2015.
  • China is a major producer of titanium sponge and produced 160 thousand metric tons of titanium sponge in 2015, while the production increased to 170 thousand metric tons in 2016, according to the U.S. Geological Survey.

Key Players

  • Key players operating in the global titanium sponge market include Tangshan Tianhe Titanium Industry Co., Ltd., Zunyi Titanium Industry Co., Ltd., Western Metal Materials Co., Ltd., Baoji Yongshengtai Titanium Industry Co., Ltd., OSAKA Titanium Technologies Co., Ltd., Toho Titanium Co. Ltd., Luoyang Sunrui Wanji Titanium Co., Ltd., Baoti Huashen Titanium Industry Co., Ltd. and Pangang Group Vanadium Titanium & Resources Co., Ltd.

Market Taxonomy

The global Titanium Sponge market is segmented into:

By End-use Industry

  • Aerospace
  • Marine
  • Defense
  • Energy
  • Medical
  • Chemical
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Russia
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • Northern Africa
    • Central Africa
    • South Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

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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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

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:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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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
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

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:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • 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
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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