Ilmenite Market - Top Companies and Manufacturers

Companies Dominating the Ilmenite Landscape

Heavy titanium usage in manufacturing solar panels and wind turbines has been proven to enhance the efficiency of energy generation. This has created a new genre of consumer base for the ilmenite market. This has also created a scope for global leaders to reduce their footprint and contribute to promoting the adoption of clean energy. Many companies are now focusing on decarbonizing their plants to reduce the environmental impact of production, increasing their potential for compliance. For instance, in August 2024, Wärtsilä signed an agreement with QIT Madagascar Minerals S.A (QMM) to increase Rio Tinto’s assets in microgrids. The collaboration aims to reduce the emissions and cost of production by enabling renewable energy in their ilmenite mineral sands mine in Madagascar. Such key players include:

Akzonostrum
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Base Resources Limited
Bluejay Mining Plc
Cristal
Eramet
Exxaro Resources
Iluka Resources
Kenmare Resources
Rio Tinto
Sierra Rutile Limited
Trimex Sands
Tronox Limited
V.V. Mineral
Yunnan Dahutong Titanium Industry Co., Ltd.
Energy Fuels Inc.

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Ilmenite Market Size & Share, Growth Forecasts 2037

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In July 2024, Rio Tinto collaborated with Aymium to build a joint venture, Évolys Québec Inc. to introduce an alternative for anthracite, a metallurgical biocarbon product to reduce emissions. The new biocarbon will help the ilmenite smelting processes at Tinto’s metallurgical complex in Sorel-Tracy.
In April 2024, Energy Fuels acquired Base Resources to establish its position in critical mineral production. The company aims to leverage the Toliara project in Madagascar to globalize its REE supply as a byproduct of ilmenite and zircon production at a low incremental cost.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the ilmenite market was over USD 9.7 billion.

The market size for the ilmenite market is projected to reach USD 24.9 billion by the end of 2037 expanding at a CAGR of 8.2% during the forecast period i.e., between 2025-2037.

The major players in the market are Akzonostrum, Base Resources Limited, Bluejay Mining Plc, Cristal, Eramet, Exxaro Resources, Iluka Resources, Kenmare Resources, Rio Tinto, Sierra Rutile Limited, Toho Titanium Co., Ltd, Trimex Sands, Tronox Limited, V.V. Mineral, Yunnan Dahutong Titanium Industry Co., Ltd., and others.

In terms of applications, the titanium dioxide production segment is anticipated to garner the largest market share of 99.1% by 2037 and display lucrative growth opportunities during 2025-2037.

The market in Asia Pacific is projected to hold the largest market share of 24% by the end of 2037 and provide more business opportunities in the future.

Ilmenite Market - Top Companies and Manufacturers

Companies Dominating the Ilmenite Landscape

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Frequently Asked Questions (FAQ)

How big is the ilmenite market?

What is the outlook for the ilmenite market?

Who are the major players dominating the ilmenite market?

Which application segment will capture the significant market share for the ilmenite market by 2037?

Which region will provide more business opportunities for the growth of the ilmenite market in the future?