Rutile Market size is forecast to reach $4.1 billion by 2025, after growing at a CAGR of 4.8% during 2020-2025. Growing demand from different industries such as construction, automotive, packaging, and electronics for titanium oxide is anticipated to accelerate the market development. Rutile is a crucial intermediate and is used in the manufacture of titanium dioxide which is commonly used in many industries. Also, rutile is commonly found as an inclusion with other minerals such as quartz and is present as needle or parallel fibers in the minerals. The asterism effect of gemstones is responsible for the use of rutile as the inclusion of several gem stones, including star sapphire. Hence, due to the rising demand of rutile from various end-user applications the rutile industry is expected to rise in the forecast period.
Rutile Market Report Segment Analysis - By Type
Synthetic rutile is extensively used in rutile market. Production of synthetic rutile from ilmenite increases the concentration of titanium in the mineral while increasing the efficiency of the method of extraction of titanium. Ilmenite contains 60 percent titanium and is processed to extract other non-titanium substances to create synthetic rutile. Synthetic rutile has a titanium content of more than 85 per cent and is one of the most favored titanium sources. Major rutile applications include the processing of titanium, titanium dioxide white pigment used in various application segments including plastics, paper, coatings and paints, among others.
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Rutile Market Report Segment Analysis - By Process
Sulphate process is mostly preferred in the rutile market. Sulfate process is the favorable process in which, rutile is reacted with sulfuric acid which results in residue of unwanted substances in the mineral and titanium is extracted from rutile. The process of sulphate uses simpler technology than the chloride path, and may use lower-grade, cheaper ores. But it generally has higher production costs and is more expensive to build with acid treatment than a chloride plant. The sulphate process is perceived to be less environmentally friendly, but recycling or neutralizing acids, combined with other developments in the by-product, can make it as safe as the chloride route.
Rutile Market Report Segment Analysis - By Application
Titanium held the largest share in the rutile market in 2019. Titanium extraction is the dominant rutile application segment so the market for rutile is highly dependent on market for titanium metal and titanium dioxide. High concentration of titanium in synthetic rutile is the foremost factor driving the rutile demand. In addition, ample rutile supply has also contributed to a strong demand for the mineral. Significant end-user industries for titanium dioxide include the automobile, packaging, building and electronics among several others. High growth in the market for automobiles is one of the major factors driving rutile production. Facility and abundance of ilmenite, used in the production of synthetic rutile, has also powered the rutile market growth.
Rutile Market Report Segment Analysis - By End Use
Automotive industry held the largest share in the rutile market in 2019 and is projected to grow at a CAGR of 5.6% during the forecast period 2020-2025. Owing to tighter policy norms and increased environmental consciousness, there is growing interest in electric or battery-operated vehicles for lower fuel emissions. The growing demand for lightweight vehicles is expected to be one of the major factors driving demand for titanium dioxide, with a positive impact on rutile consumption worldwide. Growing market preference for fuel-efficient and low emission vehicles has significantly boosted worldwide demand for lightweight vehicles. Titanium coatings derivative-polycarbonate gives high scratch resistance. Thus, increasing use of titanium dioxide in automotive coating applications will further drive the rutile market in the forecast period.
Rutile Market Report Segment Analysis - By Geography
Asia Pacific held the largest share with 43.7% in the rutile market in 2019. Increasing industrial investment and high GDP growth in the emerging economies for automotive in India and China is expected to drive the market growth in Asia Pacific. Geographically, by scrutinizing the global outlook, Asia-Pacific dominated rutile market share in its large number of end-use industries such as automobiles due to the large-scale demand for rutile. OICA estimates indicate a growth in vehicle demand of over 3.1 million in the regional sector over the period 2017–2018. During the forecast period China is predicted to produce the highest ruble output and consumption. China is Asia's leading automotive foam customer as a result of rapid development in heavy-duty and automotive heavy-duty vehicle production. The Chinese Government expects the production of vehicles to hit 30 million units by 2020 and 35 million by 2025, according to the International Trade administration. In 2018, China's specialty auto parts industry reached around $3.5 million, showing an annual growth rate of about 30%. Further, the government is focusing on channelizing efforts to enlarge export volumes. Demand from different importing countries and competition from other exporting countries like India and Brazil are the main drivers.
Rutile Market Drivers
Rapidly growing demand of rutile from paints and coatings industry
The snowballing paints and coatings industry is the primary factor driving global growth in the rutile market. In the paint industry, rutile pigments are essential because several governments have banned the use of lead-based pigments in consumer paint goods. The U.S. government for example has banned the use of lead-based plastic paints. Thus, architectural coatings and consumer coatings account for more than half of the total amount of coatings manufactured in the world and are expected to fuel the market growth. In recent years, the paint and coatings industry has seen rapid growth strongly backed by tremendous infrastructure development, increased customer income and increased demand for architectural-based products. When finely crushed and processed to remove impurities, the material transforms into a bright white powder which serves as an excellent pigment. It is used to render paint by making the powder suspended in the liquid. During the application of the paint the liquid serves as a carrier. In addition, the developing economies continue to demand more coatings as there are ongoing construction activities in the region.
Easy Availability of ilmenite in the Synthetic Rutile Segment Drives the Market Growth
Owing to the easy availability of ilmenite, the synthetic rutile segment is projected to hold a greater market share on the global rutile market. The use of ilmenite in synthetic rutile production drives demand for the segment, as it can be manufactured in a regulated environment. The difference in the volume and form of impurity in the synthetic rutile depends primarily on the ilmenite source and the process used for extraction. In addition, the content of synthetic rutile is relatively higher than that of the natural rutile which promotes growth in the industry. Several pigment manufacturing companies have changed their raw material from natural rutile to synthetic rutile, because the product can be regulated on demand. As a result, the synthetic rutile production is considered economic and ethical, thus increasing its adoption in many end-use industries. Also, the higher costs associated with the method of natural rutile extraction are also a major factor for companies that prefer synthetic rutile.
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Rutile Market Challenges
Hazardous Waste Produced from Titanium
In many industrial processes, titanium dioxide (TiO2) is widely used. Processing rutile to produce titanium metal and titanium dioxide results in the production of hazardous waste which has led to legislation to regulate the use of rutile and has restricted the growth of the industry. The pigment extraction process from titanium-rich ores represents an incredibly inefficient procedure. With each ton of TiO2, more than 8 tons of waste can be produced. Titanium dioxide waste processing comprises solid waste, solid acid waste, weak acid waste, neutralized waste, waste disposal and dust. Thus, increasing waste from titanium dioxide extraction will create hurdles for the Rutile market over the forecast period.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in rutile market. In 2019, the market of rutile has been consolidated by the top five players accounting for xx% of the share. Major players in the rutile market are Yucheng Jinhe Industrial Co., Ltd., Jiangxi Jinshibao Mining Machinery Manufacturing Co., Ltd, Shanghai Yuejiang Titanium Chemical Manufacturer Co., Ltd., Abbott Blackstone, Tronox Limited, Iluka Resources Limited, CRISTAL, Sierra Rutile Limited, TOR Minerals, Murray Basin Titanium Pty. Ltd among others.
Key Takeaways
Rising global demand for titanium from the automotive industry is projected to be the main driver of growth during the forecast period.
Also, natural disasters in various parts of the world are likely to generate the need for building and infrastructure development, thereby growing demand for titanium dioxide, leading to ruinous market growth.
Manufacturing and automotive industry is being significantly affected due to the COVID-19 pandemic as they depend on workers whose jobs cannot be carried out remotely. In the current situation, this factor restricts the growth of the rutile market.
Related Reports :
A. Titanium Market
https://www.industryarc.com/Report/18688/titanium-market.html
B. Titanium Dioxide Market
https://www.industryarc.com/Report/17665/titanium-dioxide-market.html
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