- First produced commercially in 1940s. Recent, 'modern metal'.
- Chemical Element. Atomic Number 22. Found in nature only as an oxide, can be reduced to produce a lustrous strong transition metal - low density, high strength, resistant to corrosion.
- In corrosion resistance and the strength to density ratio, highest of any metallic element.
- Titanium alloys are extremely strong. Used in a range of modern high-end equipment.
- Compounds used in many everyday products - esp for its brightness, it is one of the brightest substance known (titanium di oxide)
- Sources include minerals Rutile and Ilemenite. Ilemnite used as abrasive, as refractory lining for blast furnaces.
- Mineral sand deposits - Mineral sands are deposits of some of these minerals and other few which have heavy minerals as part of sand (old river deposits) such as zircon, ilmenite, rutile, and monazite, that have accumulated in ancient beach, river, and dune systems through natural erosion and separation processes.
- Upstream mining of titanium-bearing minerals (e.g., ilmenite, rutile).
- Conversion to titanium sponge, typically via the energy-intensive Kroll process.
- Melting and alloying, forging into plates, rods, ingots.
- Fabrication into end-products (aero components, medical implants, coatings).
- Recycling and scrap recovery, increasingly important in supply strategies.
Market Overview with Volume & Value
| Sub-market | Approx. Annual Volume (2023–2024) | Value per Ton (Estimated) | Main Applications |
|---|---|---|---|
| Titanium Dioxide (TiO₂) | ~4.8 million metric tons globally in 2024 | $1,700–2,000 per ton (depending on grade/type) | Paints & coatings, plastics, paper, cosmetics |
| Titanium Metal (Sponge, Alloys, Mill Products) | ~210,000 metric tons (global titanium sponge production in 2021, similar level in 2024) Wikipedia; also ~89,000 t of aerospace‑approved sponge in 2024 | ~$6,000–7,000 per ton for titanium sponge higher values implied for refined/alloyed metal | |
- Sponge production 210,000 metric tonnes (2021). 137k in 2010. China by far the largest.
- Ssponge is a kind of step. Titanium dioxide volume as per following charts.
A comparison with other metals
Here are the most recent annual production volumes (latest 2024 data where available). I separated titanium into its three main “streams,” since “titanium” can mean very different things in practice.
| Material | What’s being measured | 2024 production (approx.) |
|---|---|---|
| Steel | Crude steel | 1,883 million tonnes (Mt) worldwide. |
| Gold | Mine production (fine gold) | 3,661 tonnes (t); total supply (mine + recycling) ~4,974 t. |
| Lithium | Lithium content of mine output (not ore/LCE) | ~240,000 t Li (USGS notes this excludes a small, withheld U.S. figure); ≈ 1.28 Mt LCE (×5.3). |
| Titanium (metal) | Titanium sponge (upstream metal) | ~320,000 t. |
| Titanium minerals | Ilmenite + rutile (as TiO₂ content) | ~9.4 Mt TiO₂. |
| Titanium dioxide pigment | TiO₂ pigment | Global capacity ~9.8 Mt; recent production estimates range ~5.4–6.3 Mt. (Capacity: USGS; production-range from industry trackers.) |
Value
| Commodity | Approx. Market Size (2024–2025) | Growth Outlook |
|---|---|---|
| Steel | ~USD 1–2 trillion | Strong volume- and infrastructure-driven growth |
| Gold | ~USD 300–600 billion | Modest CAGR; high liquidity and investment demand |
| Lithium | ~USD 30–40 billion | Rapid growth (CAGR ~15–18%) due to EV/battery demand |
| Titanium | ~USD 30 billion | Moderate growth (CAGR ~5–7%); used in aerospace, medical, etc. |
Closer to Nickel, Cobalt etc to understand - use in defense. Also higher extraction costs.
| Metal | 2024 Production Volume | Market Size (USD, ~2024/25) | Key Uses & Notes |
|---|---|---|---|
| Titanium (sponge) | ~320,000 t (Ti sponge)¹ | ~$28.6 billion (2024); ~$30.4B (2025)² | Aerospace, industrial, medical, pigments |
| Nickel | ~3.52 million t (2024)³ | N/A (but large base/alloy demand) | Stainless steel, superalloys, EV batteries |
| Cobalt | 300,000 t (2024)⁴ | N/A (critical metal market) | Batteries, superalloys, specialized alloys |
| Zirconium | ~1.5 million t (2024 volume est.)⁵ | ~$2.1–2.2 billion (2024) ⁶⁷ | Nuclear reactors, ceramics, corrosion‑resistant, medical |
| Magnesium | (Estimated ~1 million t typ.) | Not specified here | Lightweight alloys in aerospace, automotive |
Titanium is as strong as steel but 40% lighter, providing an impressive strength-to-weight ratio; it also has excellent corrosion resistance, a high melting-point, and is non-toxic. Its principal application is as a pigment found in everyday paints, plastics and coatings and 7% of global demand relates to titanium metal where it is a critical material to the defense, aerospace and medical sectors.
The most common compound, titanium dioxide (TiO2), is a popular photocatalyst and is used in the manufacture of white pigments.[13] Other compounds include titanium tetrachloride (TiCl4), a component of smoke screens and catalysts; and titanium trichloride (TiCl3), which is used as a catalyst in the production of polypropylene. Titanium can be alloyed with iron, aluminium, vanadium, and molybdenum, among other elements. The resulting titanium alloys are strong, lightweight, and versatile, with applications including aerospace (jet engines, missiles, and spacecraft), military, industrial processes (chemicals and petrochemicals, desalination plants, pulp, and paper), automotive, agriculture (farming), sporting goods, jewelry, and consumer electronics.[11] Titanium is also considered one of the most biocompatible metals, leading to a range of medical applications including prostheses, orthopedic implants, dental implants, and surgical instruments
Humans have used metals such as iron and copper for thousands of years. By contrast, titanium is a relatively 'modern metal', having been first produced commercially as recently as the 1940s into products such as wires, sheets and rods. Since then, titanium has come to be used for many different and important purposes due to its light weight (low density) and high strength.
Pure titanium is quite soft but titanium alloys are extremely strong (even stronger than steel and aluminium). Titanium has a very high melting point and is non-toxic. Titanium dioxide is one of the whitest, brightest substances known. Because of its opaque and reflective properties it is used as a pigment in paints, plastics and paper. Titanium dioxide is also used in sunscreen because of its ability to reflect UV light.
To mine these minerals, sands are dredged through a large suction pipe and the heavy minerals are separated from the lighter sand particles. As the dredge moves slowly forward, the clean sand tailings are pumped back to fill the mined area.
Global titanium mining - statistics & facts
Titanium is a chemical element that is only found in nature as titanium oxide. Through processing, titanium metal, which is a transition metal with a silver color, is produced. Despite its low density, titanium metal is very strong, as well as being resistant to corrosion from sea water and other chemicals. These properties, as well as the fact that titanium can be alloyed with a variety of metals, make titanium an industrially important commodity. In addition to titanium metal, there are other forms of titanium, such as the powder titanium dioxide (often used as a pigment), or titanium sponge, which is produced during the multiple step process to produce the metal. As of 2023, the total global reserves of titanium minerals amounted to an estimated 690 million metric tons of ilmenite and 55 million metric tons of rutile. The country with the largest titanium reserves overall that year was China.
Global titanium production
As of 2023, the total global production volume of ilmenite amounted to an estimated 8.6 million metric tons of titanium dioxide equivalent, while rutile production amounted to an estimated 560,000 metric tons of titanium dioxide equivalent, amounting to a total global titanium production of 9.16 million metric tons. China dominates global titanium production overall, as the largest producer of ilmenite, titanium sponge, and titanium dioxide. Other leading titanium mineral producers are Mozambique, South Africa, and Australia, among others, depending on the specific mineral or form of titanium. Interestingly, most of the world’s titanium is produced in countries that are considered politically unstable.
Global trade and prices of titanium products
The United States is the world’s largest exporter of titanium and articles thereof, while simultaneously being the world’s largest importer of another category of titanium: unwrought, waste or scrap, or powder. Meanwhile, China is the world’s largest exporter of titanium oxides and Germany is the largest importer of that product category. Because of the variety of titanium products on the market, prices for titanium are also varied. For instance, the Australian price of bulk rutile with a minimum titanium dioxide content of 95 percent, free on board, was 1,490 U.S. dollars per metric ton as of 2023, while the average unit value price of one metric ton of ilmenite imported to the U.S. was 390 U.S. dollars in the same year. The increasing demand for titanium and the growing emphasis on environmental-friendly products are expected to drive market growth in the coming years.
China is the leading mine producer of titanium minerals across the globe. In 2024, mine production of ilmenite in the East Asian country reached about 3.3 million metric tons of titanium dioxide content, nearly doubling the production of Mozambique, the second-largest titanium producer worldwide.
Titanium producers
The world's total mine production of titanium minerals amounted to an estimated 9.35 million metric tons in 2024. Ilmenite accounted for over 90 percent of the overall titanium production from mines that year. In addition to being the world's largest titanium producing country, China's reserves of titanium – together with Australia's – are amongst the vastest in the planet. Unfortunately, most of the global titanium production is from countries that are considered politically unstable.
Applications of titanium
Titanium – an element which is only found in nature as an oxide – has many important industrial uses, including as an alloy component in steel, stainless steel, aluminum, copper, vanadium, manganese, iron, molybdenum, and others. Powdered titanium is used in pyrotechnics, and titanium dioxide is used widely as a white pigment in a wide variety of products, such as paints, toothpaste, plastics, paper, and many others. As of 2023, the global market size of titanium amounted to approximately 30.66 billion U.S. dollars, and is forecast to increase to nearly 52 billion U.S. dollars in 2030.
aerospace: global passenger traffic is projected to surpass 10 billion passengers in 2025, according to electronic payments company ACI World. That figure is up 6% from 2024 and up more than 16% from 2019
Over the next three decades, global passenger numbers are expected to reach 17.7 billion by 2043 and 22.3 billion by 2053, the later nearly 2.4 times the projected volume for 2024.
- Zircon, from 1% of THM to upwards of 50% of THM,
- Ilmenite, generally of 10% to 60% of THM
- Rutile, from 5% to 25% of THM
- Leucoxene, from 1% to 10% of THM
- Gangue, typically quartz, magnetite, garnet, chromite and kyanite, which usually account for the remaining bulk of the THM content
- Slimes, typically minerals as above and heavy clay minerals, too fine to be economically extracted.
For Example, Iluka Resources (AUD) - a mineral sands player - perhaps first player in the value chain.
 |
Iluka maintains take-or-pay long-term contracts for synthetic rutile through to the end of 2026, providing some degree of revenue certainty.
| Industries Served | Technology, construction, medical, lifestyle, industrial |
| Contractual Stability | ~60% of synthetic rutile under take-or-pay contracts |
Notable Titanium Sponge Producers (Potential Iluka Clients)
| Company | Country | Sponge Capacity |
|---|---|---|
| VSMPO-AVISMA | Russia | World's largest |
| Toho Titanium | Japan | High-end sponge |
| OSAKA Titanium | Japan | Aerospace-grade |
| TIMET (Precision Castparts) | USA | Aerospace focus |
| China Zunyi Titanium | China | State-owned |
VSMPO- AVSIMA is largest sponge producer. Osaka Titanium Technologies Co., Ltd became Japan’s first industrial titanium sponge producer and remains the world’s second-largest producer of titanium sponge after VSMPO‑AVISMA. PArt of Sumitomo Group.
Revenue is $340 million (Osaka), Toho ($580 million)
Key Comparison Summary
| Company | Titanium Sponge Capacity (Relative) | Revenue (TTM) | Main Revenue Drivers |
|---|---|---|---|
| Osaka Titanium | 2nd largest globally (volume) | ~$340 million | Titanium sponge, high-purity Ti, poly‑Si |
| Toho Titanium | Lower than Osaka (volume) | ~$580 million | Catalysts, Ti sponge, chemicals, electronics |
Annual Revenue
-
FY 2023 Revenue: 121.5 billion RUB (~$1.3 billion USD). (lower than 2019)
Pre-2022 U.S. Supply Role Major titanium supplier to Boeing, GE, and aerospace OEMs Subsidiary in U.S. VSMPO Tirus US (Ohio) Post-2022 Status Suspended by major U.S. firms; replaced by allied suppliers Current Supply Possibly limited to non-defense industrial firms, subject to sanctions compliance
Summary Table: Who’s Who in Titanium
| Company | Focus & Strength |
|---|---|
| VSMPO-AVISMA | Largest global producer of aerospace-grade titanium |
| OSAKA Titanium | Japan’s top sponge/ingot manufacturer |
| ATI (USA) | Alloy specialist serving aerospace and defense |
| Tronox | TiO₂ pigment leader; major feedstock supplier |
| Kenmare Resources | Key ilmenite/rutile supplier from Mozambique |
| Howmet Aerospace | Downstream aerospace component manufacturer |
| Rio Tinto (Titanium unit) | Integrated miner potentially exiting the space |
| Aerolloy (India) | New aerospace-grade materials plant initiative |
| Company | 2024 Revenue (USD) | Notes |
|---|---|---|
| Kenmare | ~US$415 million | Focused on titanium minerals (ilmenite/rutile) |
| Iluka | ~US$720 million | Leading producer of zircon & synthetic rutile |
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