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.
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.
The global Titanium Sponge market is segmented into:
By End-use Industry
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