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Ilmenite Market Size

  • Report ID: GMI7406
  • Published Date: Nov 2024
  • Report Format: PDF

Ilmenite Market Size

The global ilmenite market size was valued at USD 9.5 billion in 2024 and is estimated to grow at a CAGR of over 8% from 2025 to 2034. The market plays a pivotal role in the global mineral industry, centering on the extraction and production of titanium dioxide (TiO2). TiO2 finds extensive applications, from paints and coatings to plastics, aerospace, and industrial uses. As a titanium-iron oxide mineral, ilmenite is the primary source of titanium, underscoring its significance in manufacturing. Rising demand for TiO2, particularly from the booming construction, automotive, and consumer goods sectors, drives the market.

 

Furthermore, the aerospace and military industries' increasing reliance on titanium alloys—valued for their strength, lightweight nature, and corrosion resistance—bolsters market growth. Yet, with advancements in processing technologies and recycling methods, these challenges may be alleviated. The market's trajectory is influenced by global demand fluctuations for TiO2, regulatory policies, and the shift towards alternative materials. Moreover, the emergence of emerging role in green technologies, especially in solar panels and renewable energy applications, promises to broaden its market horizons.
 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of ilmenite reached USD 9.5 billion in 2024 and is set to grow at a CAGR of over 8% from 2025 to 2034, driven by the rising demand for titanium dioxide (TiO2) in various industries.

The natural ilmenite segment generated USD 9 billion in revenue in 2024, propelled by the increasing demand for TiO2, which is predominantly sourced from natural ilmenite.

The U.S. market was valued at approximately USD 2.7 billion in 2024, led by the increasing demand for TiO2 in key sectors like paints and coatings, plastics, and automotive.

The key players in the industry include Base Resources, Devidayal Chemical Industries, Eramet, GMA Garnet, Iluka Resources, Kenmare Resources, Mineral Commodities, Peekay Agencies, Rio Tinto, Salgo Minerals, Sierra Rutile Limited, The Kerala Minerals and Metals, Trimex Sands, Tronox Holdings, and V.V. Mineral.

Ilmenite Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 15
  • Tables & Figures: 165
  • Countries covered: 18
  • Pages: 235
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