Titanium Sponge by Mg-thermal Reduction Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

Titanium Sponge by Mg-thermal Reduction Market Size
According to QYResearch's new survey, global Titanium Sponge by Mg-thermal Reduction market is projected to reach US$ 4289.1 million in 2029, increasing from US$ 1941 million in 2022, with the CAGR of 12.0% during the period of 2023 to 2029.

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Titanium Sponge by Mg-thermal Reduction Market
In the manufacturing process for titanium sponge, pure titanium tetrachloride is reacted in a stainless steel reactor with magnesium metal heated to 900℃. The titanium tetrachloride is reduced by the magnesium to produce the sponge. Magnesium chloride is extracted at regular intervals during the reaction by the application of pressure. After the reaction has completed, the magnesium chloride and magnesium included in the lump of titanium sponge are eliminated by high temperature vacuum extraction (vacuum separation process), to leave the titanium sponge.
Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Titanium Sponge by Mg-thermal Reduction market research.
In the middle of 2023, China's titanium sponge market will further weaken. With the substantial increase in the production of titanium sponge in China and the weakening of demand in some downstream industries, the oversupply situation in the titanium sponge market has intensified. Recently, the product inventory of sponge titanium enterprises has gradually increased, and the sales pressure has increased. In order to seize the market, enterprises are forced to compete for orders by cutting prices. At the end of May, the price of grade 1 titanium sponge in China dropped by US$430-700/ton compared with the beginning of May. After the price of sponge titanium fell, domestic titanium prices did not change significantly. The main reasons are, first, that the price of sponge titanium fell relatively flat before mid-May, and second, that titanium material companies still have a certain amount of high-priced titanium sponge inventory that needs to be digested. Therefore, the impact of the price reduction of sponge titanium has not yet been fully transmitted to titanium products.

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Segment by Type
• Ti Above 99.7%
• Ti 99.5%~99.7%
• Ti 99.3%~99.5%
• Ti Below 99.3%

Segment by Application
• Aerospace and Defense
• Chemical
• Medical
• Electric Power
• Othersr

By Company
AVISMA, UKTMP, ZTMC, OSAKA Titanium, Toho Titanium, Pangang Group Titanium Industrial, Chaoyang Jinda Titanium Industry, Luoyang Shuangrui Wanji Titanium, Xinjiang Xiangrun New Material Technology, Chaoyang Baisheng, Zunyi Titanium, LB GROUP, Baotai Huashen, Shengfeng Titanium, Anshan Hailiang, CITIC Jinzhou Ferroalloy, Baoji Lixing Titanium

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