The global demand for titanium dioxide
The global titanium dioxide market is forecast to be worth more than US$33 billion by 2030, fuelled by global industrial and GDP growth.
The main drivers of titanium metal demand include:
- aerospace: global passenger traffic is projected to surpass 10 billion passengers in 2025, according to electronic payments company ACI World. That figure is up 6% from 2024 and up more than 16% from 2019
- defense: global defense spending hit US$2.46 trillion in 2024 — with the 7.4% real-terms increase outpacing increases of 6.5% in 2023 and 3.5% in 2022 — and is expected to increase further in 2025 as geopolitical tensions continue to rise
New technological breakthroughs, such as Japanese solar panel technology that promises to boost efficiency by x1000 by layering titanium and selenium in photovoltaic cells, may also drive up demand over the next decade.
The global titanium market faces intensifying supply-demand tensions as structural deficits emerge across aerospace, defense, and green technology sectors.
These strategic vulnerabilities are accelerating industry realignments at an unprecedented pace. Trump’s latest tariffs underscore how swiftly geopolitical tensions are reshaping markets and supply chains — and when military capabilities are jeopardized by weaknesses in critical mineral supplies, investment inevitably follows.
