The study involves two major activities in estimating the current market size for the titanium market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering titanium and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. Secondary data was collected and analyzed to arrive at the overall size of the titanium market, which was validated through interviews with experts.
Primary Research
Extensive primary research was conducted after obtaining information regarding the titanium market scenario through secondary research. Several interviews were conducted with market experts from both, the demand and supply sides across the major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as chief experience officers (CXOs), vice presidents (VPs), business development/marketing directors, product development/innovation teams, related key executives from the titanium industry, system integrators, component providers, distributors, and key opinion leaders. Interviews with experts were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to product type, end-use industry, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customers/end users who are titanium services, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of titanium and future outlook of their business which will affect the overall market.
Breakup of Primary Research:
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Market Size Estimation
The research methodology used to estimate the size of the titanium market includes the following details. The market sizing was undertaken from the demand side. The market was upsized based on the demand for titanium in different end-use industries at the regional level. Such procurements provide information on the demand aspects of the titanium industry for each end-use industry. For each end-use industry, all possible segments of the titanium market were integrated and mapped.
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both, the top-down and bottom-up approaches.
Market Definition
Titanium is the ninth-most common element in the Earth’s crust. The majority of the titanium extracted is in the form of titanium dioxide, which is used as a pigment. The rest is used in making metals. Titanium dioxide (TiO2, titanium (IV) oxide, or Titania) occurs naturally in various rocks and mineral sands. It is a white solid inorganic substance that is thermally stable, chemically inert, non-flammable, has excellent ultraviolet (UV) resistant qualities, and acts as a UV-absorbent. It has the highest refractive index and is one of the whitest materials on Earth. When ground into a fine powder, it transforms into a white pigment that provides whiteness and opacity to products. It is mainly sourced from the minerals anatase, brookite, ilmenite, leucoxene, perovskite, rutile, and sphene. Titanium dioxide is utilized in paints & coatings, plastics, paper, inks, and other end-use industries.
In the form of metal, titanium is known for its superior performance properties, such as high strength-to-weight ratio, low density, ductility, biocompatibility, high melting point, and corrosion resistance. In the commercially pure form, titanium has low strength and high ductility and is, therefore, used in applications that require low strength. However, in applications that demand high strength, titanium alloys are mainly used.
Stakeholders
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Titanium Manufacturers
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Titanium Distributors and Suppliers
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Universities, Governments, and Research Organizations
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Associations and Industrial Bodies
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R&D Institutes
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Environmental Support Agencies
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Investment Banks and Private Equity Firms
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Research and Consulting Firms
Report Objectives
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To define, describe, and forecast the titanium market size in terms of volume and value
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To provide detailed information regarding the key factors, such as drivers, restraints, opportunities, and challenges influencing market growth
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To analyze and project the global titanium market by product type, end-use industry, and region
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To forecast the market size concerning five main regions (along with country-level data), namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America, and analyze the significant region-specific trends
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To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions of the submarkets to the overall market
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To analyze the market opportunities and the competitive landscape for stakeholders and market leaders
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To assess recent market developments and competitive strategies, such as agreements, contracts, acquisitions, and product developments/product launches, to draw the competitive landscape
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To strategically profile the key market players and comprehensively analyze their core competencies
HIGHEST CAGR MARKET FROM 2025 TO 2030
NORTH AMERICA FASTEST-GROWING MARKET
Jack
May, 2022
Is it possible for you to share data of Titanium Market Forecasts till 2022 - 2027.