Summary

Ilmenite Market Growth & Trends

The global ilmenite market size is expected to reach USD 15.61 billion by 2030, expanding at a CAGR of 3.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is projected to be driven by the growing investments in the construction sector, and rising demand for products such as paints & coatings, cosmetics, plastics, paper & pulp, and others. Ilmenite is a solid, weakly magnetic mineral characterized by its black or steel-gray appearance, composed of titanium-iron oxide.

The demand for the product is dominated by its application in titanium dioxide. Ilmenite is used in the production of titanium dioxide to produce pigment that is widely used in various end-use industries as it increases whiteness and enhances mechanical strength. It is a key ingredient in titanium concentrates. It is stable at high temperatures, making it valuable in refractory applications and welding electrodes.

Rising production levels of titanium concentrates are anticipated to be a key driver for the market over the forecast period. The supply of ilmenite is anticipated to increase and stabilize as Ukraine, a major ilmenite mining country, resumes production. In May 2023, Ukraine’s United Mining and Chemical Company announced plans to bring up its production to pre-war levels by the end of 2023. This would impact the global demand and prices of ilmenite ore, thereby impacting the prices of titanium dioxide and titanium metal. As the prices normalize, it is anticipated to fuel the demand in the coming years further.

Titanium dioxide, a major application of ilmenite, is widely used as a whitening agent in the formulation of pigments in the paints & coatings industry. When used in coatings, the product provides gloss, opacity, whiteness, and scatters visible light. The paints & coatings industry is thriving across the globe owing to the rise in the growth of construction, industrial, and automotive industries. Residential and non-residential construction has witnessed significant growth over the recent years and is anticipated to continue over the forecast period, further propelling the growth of the market.

The competitive rivalry is high in the market, owing to the presence of a large number of ilmenite manufacturers. Mergers & acquisitions, expansions, and partnerships are some of the significant strategic initiatives adopted by key players. For instance, in March 2023, Kenmare Resources announced the expansion of its production capacity to 1.2 million tons per annum to cater to the increased demand for ilmenite and promote sustainable production. The company plans to expand sustainably and improve production at the manufacturing facility in Mozambique, which can produce around 1.05 - 1.15 million tons of ilmenite per year.

Ilmenite Market Report Highlights

• Based on application, titanium metal is expected to grow at the fastest CAGR of 4.8% in terms of revenue, during the forecast period. The growth is attributed to its unique properties that include corrosion resistance, impact strength, tensile strength, and lightweight, which aids its consumption in the aerospace and defense industries

• Based on end-use, paints & coatings, cosmetics, and plastics together accounted for 90% of the global revenue in 2022. Growing urbanization and rising population in developing economies have led to a significant increase in construction activities, automobiles, packaging, and the use of cosmetics

• Based on region, Asia Pacific dominated the market with more than 30.0% of the global revenue in 2022. High production of plastics, cosmetics, paints & coatings, and growing developments in the industries of the region are expected to augment the growth over the forecast period

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Information Analysis
1.3.2. Data Analysis Models
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Global Ilmenite Market Outlook
3.2. Industry Value Chain Analysis
3.2.1. Key Ilmenite Reserves
3.3. Technology Overview
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Market Opportunity Analysis
3.5.4. Market Challenges
3.6. Porter’s Five Forces Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of Substitution
3.6.4. Threat of New Entrants
3.6.5. Competitive Rivalry
3.7. PESTLE Analysis
3.7.1. Political
3.7.2. Economic
3.7.3. Social Landscape
3.7.4. Technology
3.7.5. Environmental
3.7.6. Legal
Chapter 4. Ilmenite Market: Application Estimates & Trend Analysis
4.1. Ilmenite Market: Application Movement Analysis, 2022 & 2030
4.2. Titanium Dioxide
4.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
4.3. Titanium Metal
4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
4.4. Others
4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Ilmenite Market: End-Use Estimates & Trend Analysis
5.1. Ilmenite Market: End-Use Movement Analysis, 2022 & 2030
5.2. Paints & Coatings
5.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3. Plastics
5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4. Cosmetics
5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.5. Paper & Pulp
5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.6. Others
5.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Ilmenite Market: Regional Estimates & Trend Analysis
6.1. Regional Analysis, 2022 & 2030
6.2. North America
6.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.2.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.2.4. U.S.
6.2.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.2.4.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.2.5. Canada
6.2.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.2.5.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.2.6. Mexico
6.2.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.2.6.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.2.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.3. Europe
6.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.3.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.3.4. Germany
6.3.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3.4.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.3.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.3.5. UK
6.3.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3.5.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.3.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.3.6. Ukraine
6.3.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3.6.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.3.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.3.7. Russia
6.3.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3.7.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.3.7.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.4.4. China
6.4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.4.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.4.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.4.5. India
6.4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.5.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.4.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.4.6. Japan
6.4.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.6.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.4.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.4.7. Australia
6.4.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.7.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.4.7.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.5. Central & South America
6.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.5.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.5.4. Brazil
6.5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.5.4.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.5.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.6.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.6.4. Saudi Arabia
6.6.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.6.4.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.6.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
6.6.5. South Africa
6.6.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.6.5.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
6.6.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company Categorization
7.3. Heat Map Analysis
7.4. Vendor Landscape
7.4.1. List of equipment supplier
7.4.2. List of distributors
7.4.3. List of prospective end-users
7.5. Strategy Initiatives by End Users
7.6. Company Profiles/Listing
7.6.1. Abbott Blackstone
7.6.1.1. Company Overview
7.6.1.2. Product Benchmarking
7.6.2. China Vanadium Titano Magnetite Mining
7.6.2.1. Company Overview
7.6.2.2. Product Benchmarking
7.6.3. Illuka Resources Limited
7.6.3.1. Company Overview
7.6.3.2. Product Benchmarking
7.6.4. Jiangxi Jingshao Mining Manufacturing Co., Ltd
7.6.4.1. Company Overview
7.6.4.2. Product Benchmarking
7.6.5. Kenmare Resources
7.6.5.1. Company Overview
7.6.5.2. Product Benchmarking
7.6.6. PT Monokem Surya
7.6.6.1. Company Overview
7.6.6.2. Product Benchmarking
7.6.7. Rio Tinto
7.6.7.1. Company Overview
7.6.7.2. Product Benchmarking
7.6.8. V.V Mineral
7.6.8.1. Company Overview
7.6.8.2. Product Benchmarking
7.6.9. Yucheng Jinhe Industrial Co., Ltd.
7.6.9.1. Company Overview
7.6.9.2. Product Benchmarking