Modern Mining August 2025

COMMODITIES OUTLOOK

Empire Metals titanium project in Australia.

Titanium: A critical investment opportunity in a strategic mineral As global demand accelerates and supply chains tighten, titanium is emerging as one of the most strategically vital and investable minerals in the 21st-century industrial economy.

I n a world increasingly defined by technological advancement, energy transition, and geopolitical competition, titanium has stepped into the spotlight. Long valued for its strength, lightness, and resistance to corrosion, titanium’s strategic importance is now underscored by its official designation as a “critical mineral” in jurisdictions including the United States, the European Union, and Australia. The metal’s most visible use is in titanium dioxide (TiO₂) pigment that brightens paints, plastics, and papers, however the metal segment—used in aerospace, defence, and medical devices—is also capturing investor attention at the moment. A supply squeeze on high-quality feedstocks, rising geopolitical tension, and growing demand from strategic sectors are turning titanium into a mineral of critical consequence—and potentially, critical return. Demand Outstripping Supply: A Structural Tightening Market The global titanium dioxide (TiO₂) market was valued at $24 billion in 2024, with over 90% of titanium demand tied to pigment production. This segment continues to grow at a steady 2.5%CAGR, driven by urbanisation, infrastructure development, and industrial growth, particularly in emerging markets. Titanium metal, which makes up 7% of total demand, also has significant strategic and financial value. Used in fighter jets, jet engines, spacecraft, and surgical implants, titanium metal is vital for sectors where performance and durability are non-negotiable.

As aerospace primes like Boeing and Airbus ramp up production and militaries invest in advanced platforms, the pressure on titanium metal supply is intensifying. Meanwhile, global supply is struggling to keep up. Although current supply appears sufficient, resource depletion, processing bottlenecks, and concentration of production in geopolitically sensitive regions are exposing cracks in the titanium supply chain. These challenges are creating a rare scenario: a mature market entering a new phase of scarcity-led opportunity. Geopolitics and Supply Chain Risk Titanium’s supply chain is heavily exposed to geopolitical fault lines. China dominates global pigment production, while Russia’s VSMPO-AVISMA is the leading supplier of aerospace-grade titanium metal. Together, they exert significant influence over critical supply nodes. This concentration poses substantial risk. Export controls, trade disputes, and sanctions could disrupt global supply at any time. Recognising this, Western governments are actively encouraging domestic exploration, processing capacity, and alternative sourcing strategies. In recent years, the European Union, Brazil, USA, and now India have imposed anti-dumping tariffs on Chinese pigment exports to reduce dependence and level the playing field. The United States has incorporated titanium into defence readiness planning and critical minerals strategies. These developments create both regulatory tailwinds and potential price support for new producers operating in allied jurisdictions.

8  MODERN MINING  www.modernminingmagazine.co.za | AUGUST 2026