Global Ilmenite Market: Overview
Ilmenite refers to a common accessory mineral that is found in sedimentary rocks, sediments, and igneous rocks in different parts of the world. It is basically a black colored iron-titanium oxide that comes with the chemical formula of FeTiO 3. This mineral is utilized in the making of a wide variety of various high-performance alloys. Most of the ilmenite that is found in the world is utilized in the making of titanium dioxide, which is an important polishing and whiting abrasive. It is also an important pigment. Multiple uses of the mineral is likely to support growth of the global ilmenite market
Product, application, and region are the three important parameters based on which the global ilmenite market has been classified.
Global Ilmenite Market: Notable Developments
The global ilmenite market is considered as a highly fragmented one that is marked with the presence of several regional players. These players are all engaged with the activities of ilmenite extraction.
Some of the prominent organizations in the global ilmenite market comprise the below-mentioned:
- Yucheng Jinhe Industrial Co., Ltd.
- Shanghai Yuejiang Titanium Chemical Manufacturer Co.
- Jiangxi Jinshibao Mining Machinery Manufacturing Co., Ltd.
- Abbott Blackstone
Global Ilmenite Market: Key Trends
The global ilmenite market is characterized by the presence of the following restraints, drivers, and opportunities.
Increased Demand for Titanium Dioxide to Shoot Up Demand in the Market
The growth of the global ilmenite market is expected to be driven by the plentiful and hassle-free availability of the mineral. The demand for titanium dioxide and titanium metal determines the demand for ilmenite.
Some of the leading end users for titanium dioxide comprise packaging, electronics, construction, and automotive sectors. Increasing demand for titanium dioxide in these sectors is likely to support growth of the global ilmenite market in the years to come.
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Global Ilmenite Market: Geographical Analysis
The global ilmenite market is estimated to be dominated by Asia Pacific region. The growth of the market in the region is ascribed to the thriving businesses of automotive and packaging sector.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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