Global Ferrotitanium Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Ferrotitanium Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Ferrotitanium is a ferro alloy that is made of elements, such as titanium and iron, with occasional trace carbon. Ferrotitanium is mainly used for alloying, deoxidation and degassing high-grade steels and alloys.

Market Overview:

The latest research study on the global Ferrotitanium market finds that the global Ferrotitanium market reached a value of USD 537.7 million in 2022. It’s expected that the market will achieve USD 657.91 million by 2028, exhibiting a CAGR of 3.42% during the forecast period.

At present, in the process of making special steel grades, Ferrotitanium is added to molten steel as a deoxidizer, degassing agent and alloying agent, which can effectively improve the strength and welding performance of steel and improve the quality of steel. Ferrotitanium is an indispensable alloy material for smelting iron-based superalloys and high-quality stainless steels. Therefore, as the demand for special steel grades in the global steel market continues to rise, the demand for Ferrotitanium is also expected to increase year by year.

One of the main applications of Ferrotitanium is as a stainless steel stabilizer. Stainless steel is mostly used in the manufacture of various mechanical equipment, such as chemical equipment, transportation equipment, environmental protection equipment and energy equipment. Recently, due to the rapid expansion trend of the new energy industry, especially the development of the wind power industry, the demand for power equipment is gradually increasing. At the same time, driven by the policies of new energy vehicles in Europe, the United States, China and other regions, new energy vehicles and charging piles are expected to become new consumption growth points of stainless steel. In addition, various high-end stainless steels are widely used in petrochemical, power station high voltage, boilers, nuclear power energy, equipment manufacturing, aerospace, marine engineering and military industries. The market demand for stainless steel still has good growth potential.

Therefore, the development of the downstream industries of stainless steel products is expected to drive the growth of the market demand in the Ferrotitanium industry.

Region Overview:

In 2021, the share of the Ferrotitanium market in Europe stood at 36.85%.

Company Overview:

AMG Chrome Limited is a highly specialized manufacturer of specialty products to the aluminum, steel, superalloy, hard-facing, welding, and glass industries. The company manufactures, among other products, chromium metal, ferro titanium, ferro niobium, nickel niobium, aluminum powders, and cerium oxide-based glass polishing powders.

Global Titanium is an integrated manufacturer of titanium metallurgical products. Located in Detroit, Michigan, USA, Global Titanium processes all types of titanium scraps; melts, analyzes and processes ferrotitanium; screens and segregates titanium sponge; and produces titanium HDH powder. Global Titanium's business consists of utilizing recycled materials to produce titanium metallurgical products for use by the producers of titanium, steel, stainless steel, aluminum and powder metallurgy products.

The major players operating in the Ferrotitanium market include AMG Chrome Limited, Global Titanium, VSMPO-AVISMA, Kluchevskiy Ferroalloy Plant, Arconic, etc. Among which, AMG Chrome Limited ranked top in terms of sales and revenue in 2022.

Segmentation Overview:

There are two main grades of ferrotitanium, the first containing approximately 35% titanium and the second containing roughly 70% titanium. The 35% grade is produced via an aluminothermic reaction while the 70% grade is produced by melting titanium scrap and iron in an induction furnace.

Among different product types, Ferrotitanium 70% segment is anticipated to contribute the largest market share in 2027.

Application Overview:

The market's largest segment by application is the segment Stainless Steel Stabilizer, with a market share of 76.40% in 2021.

Key Companies in the global Ferrotitanium market covered in Chapter 3:

Cronimet
OSAKA Titanium
Guotai Industrial
Global Titanium
Jinzhou Guangda Ferroalloy
Arconic
ZTMC
VSMPO-AVISMA
AMG Chrome Limited
Bansal Brothers
Metalliage
Mottram
Kluchevskiy Ferroalloy Plant
Hengtai Special Alloy

In Chapter 4 and Chapter 14.2, on the basis of types, the Ferrotitanium market from 2018 to 2029 is primarily split into:

Ferrotitanium 35%
Ferrotitanium 70%
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Ferrotitanium market from 2018 to 2029 covers:

Stainless Steel Stabilizer
Molten Metal Additive
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)