Titanium Bar Sales

Titanium Bar Sales Market Outlook

The titanium bar market is projected to reach a valuation of approximately USD 2.5 billion by 2035, growing at a compound annual growth rate (CAGR) of 5.4% from 2025 to 2035. The increasing demand for titanium bars is primarily propelled by their remarkable properties such as high strength-to-weight ratio, corrosion resistance, and biocompatibility, which make them ideal for various applications across industries, notably in aerospace and medical sectors. Additionally, the growing adoption of titanium in automotive manufacturing to improve fuel efficiency and reduce weight further accelerates market growth. The rising awareness about the benefits of lightweight materials in enhancing energy efficiency and performance in various industrial applications also contributes significantly to the market's expansion. Furthermore, advancements in extraction and processing technologies are expected to lower production costs, making titanium bars more accessible for a wider range of uses.

Growth Factor of the Market

The growth of the titanium bar sales market can be attributed to multiple factors, including the increasing industrialization and urbanization across emerging economies. The aerospace industry, known for its rigorous standards and requirements, has consistently sought materials that offer the highest performance, durability, and weight efficiency; titanium bars fit this demand perfectly. Moreover, the rise in healthcare expenditures globally has led to a surge in the use of titanium in medical implants and devices. Additionally, technological advancements in production processes, such as 3D printing and machining capabilities, provide manufacturers with the ability to create complex geometries and customized products from titanium, thus expanding its applications. The environmental benefits associated with titanium, such as its recyclability and non-toxicity, also appeal to industries aiming for sustainability. Furthermore, the growing trend of using advanced materials in the automotive sector to meet new fuel efficiency standards reinforces the demand for titanium bars.

Key Highlights of the Market

• Strong projected growth driven by aerospace and medical sectors
• Technological advancements enhancing production efficiency and material properties
• Increased use of titanium in automotive applications due to regulatory pressures
• Rising awareness regarding the environmental benefits of titanium
• Market diversification into new applications and regions

By Product Type

Round Bars:

Round bars represent a significant segment within the titanium bar market, primarily due to their versatile applications in various industries, including aerospace, automotive, and medical fields. These bars are favored for their excellent mechanical properties and their ability to withstand high temperatures and corrosive environments. Round titanium bars are commonly used in the manufacturing of critical components such as shafts, bolts, and fasteners, where strength and reliability are paramount. The ease of machining and processing also contributes to their popularity, allowing manufacturers to create complex parts with precision. As industries seek lightweight yet durable materials, round bars of titanium are increasingly preferred over traditional materials like steel and aluminum.

Square Bars:

Square bars are another important type of titanium bars, valued for their structural integrity and ease of handling. These bars are extensively used in applications that require strength and stability, making them suitable for construction and architectural purposes. Square titanium bars are often utilized in building frameworks, support structures, and various industrial applications where precise dimensions are critical. Their uniform shape facilitates easy stacking and transportation, which is particularly beneficial in large-scale projects. Additionally, the growing trend of using lightweight materials in construction to enhance energy efficiency further drives the demand for square titanium bars.

Hexagonal Bars:

Hexagonal bars of titanium are specialized products that cater to niche applications requiring unique geometries. These bars are primarily used in the manufacturing of fasteners and connectors, where a hexagonal shape is necessary for functionality. The strength and corrosion resistance of titanium make hexagonal bars ideal for use in harsh environments, such as marine and chemical processing industries. The market for hexagonal titanium bars is relatively smaller compared to round and square bars, but their unique properties and applications position them as critical components in specific industrial processes.

Flat Bars:

Flat bars are highly versatile and widely used in various engineering and manufacturing applications. They are particularly favored in the automotive and aerospace sectors, where flat titanium bars are crafted into components such as brackets, plates, and frames. The combination of lightweight and high tensile strength makes flat bars an ideal choice for applications that require dimensional accuracy and durability. Manufacturers appreciate the ease of fabrication and machining associated with flat titanium bars, allowing for quick and efficient production of components. The ongoing innovation in manufacturing processes, coupled with increasing demand from key industries, is expected to boost the market for flat titanium bars significantly.

Hollow Bars:

Hollow bars made from titanium offer unique benefits, particularly in applications that require lightweight yet strong structures. These bars are especially useful in fluid applications where weight reduction is crucial, such as in aerospace fuel lines and hydraulic systems. The hollow design allows for reduced material usage while maintaining strength, making them an economical choice for manufacturers. The aerospace and automotive industries often employ hollow titanium bars to maximize performance and efficiency while minimizing weight. Furthermore, the trend towards lightweight designs in engineering continues to foster demand for hollow titanium bars, as they provide a combination of strength and reduced mass.

By Application

Aerospace:

The aerospace sector is one of the largest consumers of titanium bars due to the unique properties of titanium, including its high strength-to-weight ratio and resistance to extreme temperatures and corrosion. Titanium components are crucial in aircraft structures, engine parts, and landing gear systems. With the increasing need for fuel-efficient and lightweight aircraft, the demand for titanium bars is expected to grow substantially. The shift towards advanced manufacturing techniques, such as additive manufacturing, further enhances the application of titanium bars in aerospace, allowing for intricate designs that optimize performance and reduce weight.

Automotive:

The automotive industry is experiencing a surge in the utilization of titanium bars as manufacturers seek to improve fuel efficiency and performance. Titanium's lightweight nature allows for significant weight reductions in vehicle components, leading to enhanced fuel economy and lower emissions. Applications include engine components, chassis parts, and suspension systems where strength and durability are essential. As global regulations become stricter regarding emissions and fuel efficiency, the automotive sector's inclination towards titanium bars is expected to grow, positioning this segment as a critical area of expansion for titanium manufacturers.

Medical:

The medical sector relies heavily on titanium bars for various applications, especially in the production of implants and surgical instruments. Titanium's biocompatibility, strength, and resistance to corrosion make it an ideal choice for medical devices used in the human body. The rising geriatric population and the increasing prevalence of chronic diseases drive the demand for orthopedic implants, dental implants, and prosthetics made from titanium. Furthermore, ongoing research and development in the medical field continue to create new opportunities for titanium bars, as advancements in design and technology pave the way for more innovative medical solutions.

Industrial:

Industrial applications of titanium bars are diverse, encompassing areas such as manufacturing, construction, and energy. In the manufacturing sector, titanium bars are used to create tools, equipment, and machinery parts that require high durability and corrosion resistance. The energy sector, particularly oil and gas, utilizes titanium bars for components exposed to aggressive environments, such as offshore drilling rigs. As industries increasingly focus on sustainability and the use of advanced materials, the demand for titanium bars is likely to rise, making this segment a vital component of the overall market.

Sports:

The sports industry is increasingly turning to titanium bars for high-performance equipment due to their lightweight and strong properties. Titanium is used to manufacture various sporting goods, including bicycles, golf clubs, and tennis rackets, enhancing performance and reducing the risk of injury. The growing popularity of outdoor and extreme sports drives the demand for durable and lightweight equipment, further propelling the adoption of titanium bars in this sector. As sports technology evolves, the role of titanium in enhancing performance is likely to expand, providing appealing prospects for manufacturers within this niche market.

By Distribution Channel

Direct Sales:

Direct sales channels are significant in the titanium bar market, enabling manufacturers to build strong relationships with customers and gain insights into their needs. This approach allows for better control over pricing and distribution, ensuring that customers receive quality products and support. Direct sales are particularly beneficial in industries such as aerospace and medical, where the demand for high-quality materials is critical. Manufacturers offering direct sales can tailor their offerings to meet specific customer requirements, resulting in increased customer satisfaction and loyalty.

Distributors:

Distributors play a crucial role in the titanium bar market, facilitating the supply chain between manufacturers and end-users. They help manufacturers reach a broader audience and ensure that products are readily available to various industries. Distributors often provide value-added services such as inventory management, technical support, and logistics, making them essential partners for titanium manufacturers. The presence of established distributors can enhance market penetration and provide easier access to clients across different regions and sectors, thus driving overall sales growth.

Online Retailers:

The emergence of online retailing has transformed the titanium bar sales landscape, offering customers the convenience of purchasing materials from anywhere. Online retailers provide a platform for buyers to compare products, read reviews, and find competitive pricing, making it easier for customers to make informed purchasing decisions. The growth of e-commerce has particularly benefited smaller businesses and startups in the aerospace and automotive sectors, allowing them to source titanium bars without the need for large-scale infrastructure. As digital purchasing continues to rise, online retailers are expected to play an increasingly important role in the titanium bar market.

Specialty Stores:

Specialty stores focusing on metals and industrial materials offer a targeted approach to the distribution of titanium bars. These stores typically cater to niche markets, providing expert knowledge and dedicated service to customers seeking specific products. Specialty stores often stock a variety of titanium grades and types, allowing customers to find the exact materials they need for their projects. As industries become more specialized, the demand for specialty stores that can provide tailored solutions and expert advice is likely to grow, creating further opportunities within the titanium bar market.

Others:

Other distribution channels encompass various unconventional methods of selling titanium bars, including trade shows, exhibitions, and partnerships with other manufacturers. These channels allow companies to showcase their products and innovations, attracting potential customers from diverse sectors. Additionally, collaborations with other industries can lead to new opportunities for market expansion, as companies seek to integrate titanium bars into different applications. The flexibility offered by various distribution channels can enhance product visibility and accessibility, ultimately contributing to the overall growth of the market.

By Grade

Grade 1:

Grade 1 titanium is known for its exceptional corrosion resistance and excellent formability, making it suitable for applications in highly corrosive environments. This grade is often utilized in the chemical processing and marine industries, where exposure to harsh conditions is common. The lightweight properties of Grade 1 titanium make it a preferred choice for manufacturers seeking to reduce weight without compromising strength. Its versatility and durability allow it to be used in various forms, including bars, sheets, and tubes, expanding its application across multiple sectors.

Grade 2:

Grade 2 titanium is one of the most widely used titanium grades due to its balance of strength, corrosion resistance, and weldability. This grade is commonly found in the aerospace and medical industries, where reliability and performance are critical. Grade 2 titanium bars are often used to manufacture components such as aircraft structures, surgical instruments, and implantable devices. As industries continue to evolve and demand high-performance materials, Grade 2 titanium's popularity is expected to remain strong.

Grade 5:

Grade 5 titanium, also known as Ti-6Al-4V, is an alpha-beta titanium alloy renowned for its high strength and toughness. This grade is extensively utilized in aerospace and automotive applications where strength and weight reduction are essential. The ability to withstand extreme temperatures and mechanical stresses makes Grade 5 titanium bars ideal for manufacturing critical components such as turbine blades and structural frames. The growing emphasis on lightweight materials in engineering continues to propel the demand for Grade 5 titanium in various applications.

Grade 9:

Grade 9 titanium, an alloy of titanium, aluminum, and vanadium, combines excellent strength with low density, making it an attractive option for industries seeking to reduce weight while maintaining durability. This grade is particularly favored in the aerospace sector for applications such as airframes and engine components. Grade 9 titanium bars are also used in the automotive industry, particularly in high-performance vehicles where reducing weight is paramount. The increasing focus on fuel efficiency and performance is expected to drive the demand for Grade 9 titanium across various applications.

Grade 23:

Grade 23 titanium, known as Ti-6Al-4V ELI (Extra Low Interstitial), is primarily used in medical applications due to its superior biocompatibility and mechanical properties. This grade is commonly employed in the production of implants and other medical devices that require high performance and reliability. The demand for Grade 23 titanium bars is expected to grow substantially as healthcare providers seek advanced materials for patient care. As innovations in medical technology continue to advance, the applications for Grade 23 titanium are likely to expand, creating new opportunities for manufacturers in the medical sector.

By Region

The titanium bar market is distributed across various regions, with North America leading the way due to its robust aerospace and medical industries. The North American market is expected to maintain a significant share, valued at approximately USD 900 million in 2025, with a projected CAGR of 5.1% through 2035. The strong presence of key manufacturers and the constant demand for advanced materials in aerospace applications drive growth. Additionally, the increased focus on lightweight materials to improve fuel efficiency in the automotive sector further enhances the market potential in this region.

In Europe, the titanium bar market is anticipated to reach around USD 700 million by 2035, driven by the growing aerospace sector, particularly in countries like Germany and France. The European market is characterized by stringent regulations regarding emissions and fuel efficiency, prompting manufacturers to adopt lightweight materials such as titanium. Furthermore, the expanding medical device industry in Europe contributes significantly to the demand for titanium bars, as advancements in healthcare technology create new applications and opportunities. In the Asia Pacific region, the market is projected to grow rapidly, with a CAGR of 6.0% as countries like China and India ramp up industrial activities, creating a surge in demand for titanium bars.

Opportunities

The titanium bar market presents numerous opportunities for growth and innovation, particularly as industries increasingly seek advanced materials capable of enhancing performance and sustainability. One significant opportunity lies in the development of new titanium alloys tailored to meet specific industry requirements, which can lead to applications in emerging sectors such as renewable energy and automotive electrification. As the global push for decarbonization intensifies, there is an increasing demand for lightweight materials that can improve fuel efficiency and reduce emissions, which titanium bars can effectively provide. Manufacturers who invest in research and development to create specialized titanium products may also establish a competitive advantage and capture new market segments.

Furthermore, the growing trend of additive manufacturing, or 3D printing, represents a lucrative opportunity for the titanium bar market. This technology allows for the production of complex geometries and custom designs that were previously impossible with traditional manufacturing methods. As industries like aerospace and medical devices adopt 3D printing to create titanium components, the demand for titanium bars as feedstock material is poised to increase. Additionally, expanding investment in infrastructure projects, especially in emerging economies, can drive the demand for titanium in construction applications, further enhancing market growth prospects.

Threats

The titanium bar market faces several threats, one of which is the volatility of raw material prices. Titanium extraction and processing involve complex and costly procedures, making the market sensitive to fluctuations in raw material costs. Any sudden increase in the price of titanium ore can lead to higher production costs for manufacturers, ultimately affecting profit margins and market competitiveness. Moreover, competition from alternative materials, such as aluminum and advanced composites, poses a challenge to the titanium bar market. As industries look for cost-effective solutions, they may opt for substitutes that offer similar benefits at lower prices, potentially reducing the demand for titanium bars.

Another significant threat is the impact of regulatory changes on the market. Industries such as aerospace and automotive are subject to stringent regulations regarding material safety, emissions, and performance standards. Compliance with these regulations can increase operational costs for manufacturers, potentially leading to delays in product development and market entry. In addition, geopolitical factors and trade restrictions can disrupt supply chains and create uncertainty in the market. Manufacturers must stay agile and adaptable to navigate these challenges while ensuring that they remain compliant with evolving regulations in their respective industries.

Competitor Outlook

• Ti2 Aerospace
• Special Metals Corporation
• Alcoa Corporation
• VSMPO-AVISMA Corporation
• Carpenter Technology Corporation
• Haynes International Inc.
• AK Steel Holding Corporation
• ATI (Allegheny Technologies Incorporated)
• North American Titanium
• PCC Structurals, Inc.
• RTI International Metals, Inc.
• Metalysis Limited
• Titanium Industries, Inc.
• Timet (Titanium Metals Corporation)
• Toho Titanium Co., Ltd.

The competitive landscape of the titanium bar market is characterized by a mix of established giants and niche players actively engaged in expanding their product offerings and market reach. Major companies are investing heavily in research and development to innovate and enhance their production capabilities, aiming to capture a larger share of the market. Collaboration with aerospace and medical device manufacturers to create specialized products tailored to specific application needs is a common strategy employed by these companies. Furthermore, the emphasis on sustainability and responsible sourcing of raw materials is shaping the competitive dynamics within the titanium bar market, as consumers increasingly prefer suppliers that adhere to environmentally friendly practices.

Companies such as Ti2 Aerospace and VSMPO-AVISMA Corporation are recognized for their technological advancements and extensive experience in the titanium industry. Ti2 Aerospace specializes in providing titanium products specifically to the aerospace sector, focusing on quality and performance. VSMPO-AVISMA Corporation, as one of the largest titanium producers globally, has established strong relationships with aerospace manufacturers, ensuring a steady demand for its products. These companies, along with others like Alcoa Corporation and Carpenter Technology Corporation, continuously seek to enhance their production processes to maintain efficiency and cost-effectiveness in a competitive market.

Furthermore, emerging players like North American Titanium and Metalysis Limited are gaining traction by leveraging innovative production techniques and sustainability-focused practices. North American Titanium, known for its advanced manufacturing technologies, offers titanium bars that meet the specific requirements of various industries. Meanwhile, Metalysis Limited is pioneering new methods for titanium production that reduce costs and environmental impact, positioning themselves as a disruptive force in the market. As competition intensifies, manufacturers are likely to explore strategic partnerships, mergers, and acquisitions as avenues for growth and expansion in the titanium bar market.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Ti2 Aerospace
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Alcoa Corporation
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Metalysis Limited
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 PCC Structurals, Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 North American Titanium
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Toho Titanium Co., Ltd.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 VSMPO-AVISMA Corporation
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Haynes International Inc.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Titanium Industries, Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Special Metals Corporation
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 AK Steel Holding Corporation
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 RTI International Metals, Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Carpenter Technology Corporation
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Timet (Titanium Metals Corporation)
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 ATI (Allegheny Technologies Incorporated)
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Titanium Bar Sales Market, By Grade
    • 6.1.1 Grade 1
    • 6.1.2 Grade 2
    • 6.1.3 Grade 5
    • 6.1.4 Grade 9
    • 6.1.5 Grade 23
  • 6.2 Titanium Bar Sales Market, By Application
    • 6.2.1 Aerospace
    • 6.2.2 Automotive
    • 6.2.3 Medical
    • 6.2.4 Industrial
    • 6.2.5 Sports
  • 6.3 Titanium Bar Sales Market, By Product Type
    • 6.3.1 Round Bars
    • 6.3.2 Square Bars
    • 6.3.3 Hexagonal Bars
    • 6.3.4 Flat Bars
    • 6.3.5 Hollow Bars
  • 6.4 Titanium Bar Sales Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Distributors
    • 6.4.3 Online Retailers
    • 6.4.4 Specialty Stores
    • 6.4.5 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Titanium Bar Sales Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Titanium Bar Sales market is categorized based on

By Product Type

• Round Bars
• Square Bars
• Hexagonal Bars
• Flat Bars
• Hollow Bars

By Application

• Aerospace
• Automotive
• Medical
• Industrial
• Sports

By Distribution Channel

• Direct Sales
• Distributors
• Online Retailers
• Specialty Stores
• Others

By Grade

• Grade 1
• Grade 2
• Grade 5
• Grade 9
• Grade 23

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Ti2 Aerospace
• Special Metals Corporation
• Alcoa Corporation
• VSMPO-AVISMA Corporation
• Carpenter Technology Corporation
• Haynes International Inc.
• AK Steel Holding Corporation
• ATI (Allegheny Technologies Incorporated)
• North American Titanium
• PCC Structurals, Inc.
• RTI International Metals, Inc.
• Metalysis Limited
• Titanium Industries, Inc.
• Timet (Titanium Metals Corporation)
• Toho Titanium Co., Ltd.