Global Titanium Sponge by Mg-thermal Reduction Market Growth 2023-2029

Global Titanium Sponge by Mg-thermal Reduction Market Growth 2023-2029

The global Titanium Sponge by Mg-thermal Reduction market size is projected to grow from US$ 1898.8 million in 2022 to US$ 4316.7 million in 2029; it is expected to grow at a CAGR of 12.4% from 2023 to 2029.

In the middle of 2023, China's titanium sponge market will further weaken. With the substantial increase in the production of titanium sponge in China and the weakening of demand in some downstream industries, the oversupply situation in the titanium sponge market has intensified. Recently, the product inventory of sponge titanium enterprises has gradually increased, and the sales pressure has increased. In order to seize the market, enterprises are forced to compete for orders by cutting prices. At the end of May, the price of grade 1 titanium sponge in China dropped by US$430-700/ton compared with the beginning of May. After the price of sponge titanium fell, domestic titanium prices did not change significantly. The main reasons are, first, that the price of sponge titanium fell relatively flat before mid-May, and second, that titanium material companies still have a certain amount of high-priced titanium sponge inventory that needs to be digested. Therefore, the impact of the price reduction of sponge titanium has not yet been fully transmitted to titanium products.

In the manufacturing process for titanium sponge, pure titanium tetrachloride is reacted in a stainless steel reactor with magnesium metal heated to 900℃. The titanium tetrachloride is reduced by the magnesium to produce the sponge. Magnesium chloride is extracted at regular intervals during the reaction by the application of pressure. After the reaction has completed, the magnesium chloride and magnesium included in the lump of titanium sponge are eliminated by high temperature vacuum extraction (vacuum separation process), to leave the titanium sponge.

LPI (LP Information)' newest research report, the “Titanium Sponge by Mg-thermal Reduction Industry Forecast” looks at past sales and reviews total world Titanium Sponge by Mg-thermal Reduction sales in 2022, providing a comprehensive analysis by region and market sector of projected Titanium Sponge by Mg-thermal Reduction sales for 2023 through 2029. With Titanium Sponge by Mg-thermal Reduction sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Titanium Sponge by Mg-thermal Reduction industry.

This Insight Report provides a comprehensive analysis of the global Titanium Sponge by Mg-thermal Reduction landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Titanium Sponge by Mg-thermal Reduction portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Titanium Sponge by Mg-thermal Reduction market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Titanium Sponge by Mg-thermal Reduction and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Titanium Sponge by Mg-thermal Reduction.

This report presents a comprehensive overview, market shares, and growth opportunities of Titanium Sponge by Mg-thermal Reduction market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Ti Above 99.7%
Ti 99.5%~99.7%
Ti 99.3%~99.5%
Ti Below 99.3%

Segmentation by application
Aerospace and Defense
Chemical
Medical
Electric Power
Othersr

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
AVISMA
UKTMP
ZTMC
OSAKA Titanium
Toho Titanium
Pangang Group Titanium Industrial
Chaoyang Jinda Titanium Industry
Luoyang Shuangrui Wanji Titanium
Xinjiang Xiangrun New Material Technology
Chaoyang Baisheng
Zunyi Titanium
LB GROUP
Baotai Huashen
Shengfeng Titanium
Anshan Hailiang
CITIC Jinzhou Ferroalloy
Baoji Lixing Titanium

Key Questions Addressed in this Report

What is the 10-year outlook for the global Titanium Sponge by Mg-thermal Reduction market?

What factors are driving Titanium Sponge by Mg-thermal Reduction market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Titanium Sponge by Mg-thermal Reduction market opportunities vary by end market size?

How does Titanium Sponge by Mg-thermal Reduction break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.