Titanium sponge is a porous titanium created by the Kroll method. Titan sponge has corrosion-resistant, fire- and shock-resistant, lightweight, and recyclable characteristics. It's used to make titanium alloys, ingots, and other alloys. Aerospace, armor, oil and gas, power generation, marine, chemical processing, medical, and sporting goods are some of the other industries that use titanium sponges. China, Russia, Japan, Kazakhstan, and Ukraine are only a handful of the world's top titanium sponge producers.
A study's design is chosen to highlight potential
trends and opportunities in the worldwide Premium Grade Titanium
Sponge market during the coming years. According to the market
study, several drivers and impediments, opportunities, and problems will be
investigated over the forecasted time period. In addition, the research
examines market regional trends that may have an impact on its growth from 2022
to 2028.
Market Outlook
· North America held a significant market share in 2017, in the global
titanium sponge market. According to the U.S. Geological Survey, 2018, the
consumption of titanium sponges in the U.S. was 31,200 tons in 2015, which
increased to 37,000 tons in 2016.
· Growing demand for titanium sponges is attributed to the growing
aerospace and defense industry in North America. For instance, according to
Aerospace Industries Association (AIA), the aerospace and defense industry in
the U.S. generated US$ 872.1 billion in sales in 2016.