Synthetic Rutile

Synthetic Rutile Market Outlook

The global synthetic rutile market is projected to reach approximately USD 2.5 billion by 2035, growing at a compound annual growth rate (CAGR) of around 7.2% during the forecast period of 2025 to 2035. This growth is fueled by the increasing demand for titanium dioxide across various industries, particularly in pigments and coatings, as well as a growing inclination towards sustainable manufacturing practices. Furthermore, the emerging technologies in the production of synthetic rutile are providing cost-effective and efficient methods that enhance production capabilities. With the rise of environmentally friendly alternatives in manufacturing, synthetic rutile offers a sustainable option for titanium extraction, leading to its growing prevalence in industrial applications. The market is also expected to benefit from rising investments in the automotive and aerospace sectors, where high-performance materials are increasingly being utilized.

Growth Factor of the Market

The synthetic rutile market's growth can be attributed to several key factors. Firstly, the expanding aerospace, automotive, and construction industries are driving a significant demand for high-quality titanium dioxide, which is a primary application of synthetic rutile. As these sectors continue to grow, they require advanced materials that offer strength, durability, and resistance to corrosion, all of which synthetic rutile provides. Secondly, environmental regulations concerning the extraction and usage of minerals have prompted industries to explore synthetic alternatives, positioning synthetic rutile as a sustainable choice. Additionally, the ongoing technological advancements in the production processes are reducing costs and enhancing the quality of synthetic rutile, making it an attractive option for manufacturers. Moreover, the growing popularity of titanium-based products, particularly in consumer goods and electronics, is expected to further propel market expansion. Lastly, the increasing investment in research and development activities focused on innovative applications of synthetic rutile will likely contribute to market growth.

Key Highlights of the Market

• The synthetic rutile market is projected to grow at a CAGR of 7.2% from 2025 to 2035.
• North America is expected to dominate the market, driven by high demand from the aerospace and automotive industries.
• The chloride process segment is anticipated to witness significant growth due to its efficiency in producing high-quality synthetic rutile.
• High-grade synthetic rutile is becoming increasingly popular in various applications, particularly in pigment production.
• Technological advancements in production processes are reducing costs and enhancing the quality of synthetic rutile.

By Product Type

Chloride Process :

The chloride process for producing synthetic rutile is a leading method characterized by its efficiency and ability to yield high-quality products. This method involves the extraction of titanium dioxide from ilmenite using a chlorine gas to produce titanium tetrachloride, which is then oxidized to form synthetic rutile. This production technique is less energy-intensive compared to the sulfate process and results in fewer impurities, hence providing a purer form of synthetic rutile. The demand for high-grade synthetic rutile, which is predominantly produced through the chloride process, is expected to rise significantly due to its application in the production of titanium dioxide for paints, coatings, and plastics. Consequently, this segment is likely to experience robust growth, driven by the increasing need for high-performance materials in various industrial applications.

Sulfate Process :

The sulfate process is another major production technique for synthetic rutile, which involves the treatment of ilmenite ore with sulfuric acid. This method results in a lower quality of synthetic rutile compared to the chloride process but is still widely used due to its low initial capital investment and operational costs. The sulfate process is traditionally viewed as a more straightforward production method, making it an attractive choice for smaller manufacturers. However, the output from this method often contains higher levels of impurities, leading to applications that may require lower specifications. Despite these limitations, the sulfate process remains relevant in the synthetic rutile market, especially for applications where ultra-pure material is not critical. Market demand for sulfated synthetic rutile will likely be sustained by sectors requiring cost-effective solutions without stringent quality requirements.

By Application

Titanium Dioxide Production :

Titanium dioxide (TiO2) production is one of the primary applications of synthetic rutile, accounting for a significant share of the market. Synthetic rutile serves as a crucial feedstock for the production of high-quality titanium dioxide, which is widely used as a pigment in paints, coatings, plastics, and paper. The increasing use of titanium dioxide in various industries driven by its excellent opacity, brightness, and UV stability is propelling the demand for synthetic rutile. Furthermore, as industries move towards environmentally safe alternatives, synthetic rutile, being a sustainable option, is likely to witness a surge in demand. Additionally, the rising consumer awareness regarding the safety and environmental impact of products is driving manufacturers to opt for high-grade titanium dioxide sourced from synthetic rutile, thereby enhancing market prospects.

Welding Electrodes :

In the realm of welding, synthetic rutile is utilized in the manufacturing of welding electrodes, which are essential in various metal fabrication processes. The properties of synthetic rutile enhance the performance of these electrodes, providing high stability and excellent arc characteristics. As industries continue to invest in infrastructure, construction, and automotive manufacturing, the demand for welding electrodes is expected to rise, thereby augmenting the need for synthetic rutile. The growth of the construction and manufacturing sectors, particularly in emerging economies, is notably contributing to the expansion of this application segment. Additionally, the trend towards lightweight and high-strength materials in welding processes is further driving the adoption of synthetic rutile, as it offers enhanced performance capabilities that align with industry requirements.

Pigment Production :

Synthetic rutile plays a vital role in pigment production, primarily as a source of titanium dioxide. The pigment industry demands high-quality raw materials to achieve desired color properties, opacity, and durability in final products. Synthetic rutile, with its low impurity levels and controlled chemical composition, meets these stringent requirements, thereby making it a preferred choice for manufacturers. As the demand for aesthetically appealing and long-lasting pigments in the paint, coatings, cosmetics, and automotive industries continues to grow, the requirement for synthetic rutile is also expected to rise. Moreover, the increasing focus on eco-friendly pigments drives the industry towards using synthetic rutile, as it presents a more sustainable alternative compared to traditional sources of titanium dioxide, further solidifying its position in the pigment production sector.

Refractory Material :

Synthetic rutile is increasingly being recognized for its utility as a refractory material due to its high melting point and thermal stability. Refractory materials are critical in high-temperature applications such as furnaces and kilns, where they must withstand extreme conditions while maintaining structural integrity. The unique properties of synthetic rutile, including its resistance to thermal shock, make it an ideal candidate for use in these high-performance applications. The growth in the steel, foundry, and cement industries is expected to drive the demand for refractory materials, consequently boosting the synthetic rutile market. As manufacturers seek high-performing materials that can endure harsh environments, the versatility of synthetic rutile in refractory applications will likely contribute to its growth in the coming years.

Others :

Beyond its primary applications, synthetic rutile finds use in several other industries, including the production of ceramics and glass. In ceramics, synthetic rutile is prized for its ability to enhance the aesthetic quality and durability of ceramic products, making it a valuable additive in glazes and bodies. Similarly, in the glass industry, the demand for synthetic rutile as a coloring agent and opacifier is on the rise due to its ability to produce high-quality glass with improved properties. The versatility of synthetic rutile allows it to be integrated into a wide array of products across diverse sectors, thereby broadening its market reach. As industries continue to innovate and develop new applications, the potential for synthetic rutile to penetrate further into unexplored sectors remains significant.

By Use Industry

Automotive :

The automotive industry is a significant consumer of synthetic rutile, leveraging its properties for various applications, particularly in the manufacturing of high-performance components. Synthetic rutile is utilized in producing lightweight materials that are essential for enhancing fuel efficiency and reducing emissions in vehicles. The increasing emphasis on sustainability and environmental regulations is driving automotive manufacturers to seek advanced materials that optimize performance while adhering to eco-friendly standards. Additionally, synthetic rutile is critical in producing titanium-based components, which offer exceptional strength-to-weight ratios, thus contributing to overall vehicle performance. As the automotive sector continues to evolve with advancements in electric vehicles and hybrid technologies, the demand for innovative materials such as synthetic rutile is poised for impressive growth.

Construction :

The construction sector has emerged as a substantial market for synthetic rutile, primarily due to its applications in coatings, paints, and sealants. The construction industry demands high-quality materials that ensure durability, aesthetics, and protection against environmental factors. Synthetic rutile, with its ability to enhance the performance and longevity of construction materials, is becoming a preferred choice among manufacturers. The increasing global urbanization and infrastructural development are significantly driving the demand for synthetic rutile in the construction sector. Moreover, as sustainability becomes a key focus in building practices, the adoption of synthetic rutile aligns with the industry's shift towards greener alternatives, facilitating its growth in various construction-related applications.

Aerospace :

In the aerospace industry, synthetic rutile is valued for its lightweight and high-strength characteristics, essential for aircraft components where performance and safety are paramount. The use of titanium alloys, which incorporate synthetic rutile, is common in aerospace applications as they offer an exceptional strength-to-weight ratio, corrosion resistance, and the ability to withstand high temperatures. The ongoing advancements in aerospace technologies and designs are driving the need for high-performance materials, fuelling the demand for synthetic rutile. Furthermore, the growing trend of developing fuel-efficient and environmentally friendly aircraft is leading manufacturers to incorporate materials that enhance overall performance while reducing weight, further solidifying synthetic rutile's position in the aerospace sector.

Paints & Coatings :

The paints and coatings industry represents a significant segment for synthetic rutile, primarily due to its application as a key ingredient in producing high-quality pigments. Synthetic rutile is used to create titanium dioxide, which is crucial in achieving the desired opacity, brightness, and durability in paints and coatings. As the demand for aesthetic and durable coatings continues to rise, driven by trends in construction, automotive, and consumer goods, the need for synthetic rutile is also expected to increase. Additionally, with the increasing preference for eco-friendly and sustainable products, synthetic rutile is gaining traction as a desirable option due to its lower environmental impact compared to traditional titanium sources. This growing awareness and emphasis on sustainability in the paints and coatings industry will likely contribute to the overall growth of the synthetic rutile market.

Others :

In addition to the major industries, synthetic rutile is finding applications in various other sectors such as electronics and consumer goods. In electronics, synthetic rutile is utilized for its dielectric properties in capacitors and other components, providing performance enhancements in electronic devices. As the electronics industry continues to expand with advancements in technology, the demand for specialized materials like synthetic rutile is expected to grow. Furthermore, in consumer goods, synthetic rutile is employed in producing high-quality coatings and finishes, enhancing aesthetic appeal and durability. The versatility of synthetic rutile, along with its compatibility with diverse applications, positions it favorably to penetrate various sectors beyond the traditional use industries.

By Grade

High Grade :

High-grade synthetic rutile is characterized by its superior purity and quality, making it a preferred choice for demanding applications such as titanium dioxide production and aerospace components. The high-grade synthetic rutile contains minimal impurities, which is crucial for industries requiring strict quality control and performance standards. The growing demand for premium quality materials in sectors such as automotive, aerospace, and paints and coatings is significantly boosting the high-grade synthetic rutile market. Additionally, as manufacturers strive for higher performance and durability in their products, the need for high-grade synthetic rutile is expected to rise. Furthermore, the increasing focus on sustainability and environment-friendly alternatives is driving industries to adopt high-grade synthetic rutile, as it aligns with their goals for responsible sourcing and product excellence.

Low Grade :

Low-grade synthetic rutile, while less pure than its high-grade counterpart, still holds significant value in various applications where stringent purity requirements are not critical. This grade is typically more economical and is often used in sectors that prioritize cost over quality. The demand for low-grade synthetic rutile is expected to remain steady, particularly in industries such as welding electrodes and certain construction applications where high purity is not a primary concern. Furthermore, the advantageous pricing of low-grade synthetic rutile allows it to serve as a viable option for smaller manufacturers seeking cost-effective materials. As the market continues to evolve, the versatility of low-grade synthetic rutile will continue to ensure its relevance across a range of applications.

By Region

The synthetic rutile market exhibits regional variances influenced by industrial demand and production capabilities. North America holds a significant share of the global market, estimated at around USD 850 million in 2025, largely driven by the aerospace and automotive sectors, which are known for their stringent quality requirements and innovations. The region's technological advancements and high investment in research and development further enhance its market position. Europe follows closely, contributing approximately USD 700 million, with a strong emphasis on sustainable manufacturing practices and increasing regulations favoring synthetic alternatives, making synthetic rutile a favorable choice for various applications. The region's focus on eco-friendly solutions is anticipated to bolster market growth, projected at a CAGR of 6.5% during the forecast period.

Asia Pacific, however, is anticipated to exhibit the highest growth rate in the synthetic rutile market, estimated to reach USD 800 million by 2035, at a CAGR of 8.5% due to rapid industrialization and increasing demand from end-use industries such as automotive and construction. Countries like China and India are witnessing exponential growth in these sectors, thus driving the need for high-quality raw materials like synthetic rutile. Latin America and the Middle East & Africa, while smaller markets, are expected to witness gradual growth, fueled by rising infrastructural developments and expansion in manufacturing capabilities. Overall, the regional split indicates a vibrant and diverse landscape for the synthetic rutile market.

Opportunities

The synthetic rutile market presents numerous opportunities for growth, particularly driven by increasing industrial applications and the push for sustainable manufacturing practices. As industries worldwide focus on reducing their environmental impact, synthetic rutile, being a more sustainable alternative, is set to benefit significantly. Manufacturers are actively seeking ways to minimize their carbon footprints, and synthetic rutile's eco-friendly production processes make it an attractive option. The rising demand for high-performance materials across various sectors, including automotive, aerospace, and construction, opens avenues for synthetic rutile to expand its market presence. Furthermore, the investments in research and development focused on innovative applications of synthetic rutile, including advanced coatings and specialized materials, are likely to foster new growth opportunities within the market. Additionally, as emerging economies ramp up their industrial capabilities, the demand for synthetic rutile is expected to grow, enabling manufacturers to explore new markets and increase their product offerings.

Another notable opportunity lies in the technological advancements that are enhancing the efficiency of synthetic rutile production. Companies that invest in innovative production methods can improve yield and reduce costs, thereby gaining a competitive edge in the market. These advancements could also lead to the development of new grades and blends of synthetic rutile that cater to specific industry needs, further expanding the market's applications. Additionally, the potential for collaborations and partnerships between raw material suppliers and end-users can lead to tailored solutions that enhance product performance. As sustainability continues to gain traction in global markets, the opportunity to position synthetic rutile as an essential component in eco-friendly products will become increasingly prevalent, offering long-term growth prospects for stakeholders across the value chain.

Threats

Despite its growth potential, the synthetic rutile market faces several threats that could impede its progress. One of the primary threats is the volatility in raw material prices, particularly for ilmenite, which is the main feedstock for synthetic rutile production. Fluctuations in the prices of raw materials can affect production costs and profitability, potentially leading to price wars among manufacturers. Additionally, competition from alternative materials and processes could pose a significant threat to the synthetic rutile market. Industries may opt for cheaper or more readily available substitutes, undermining the demand for synthetic rutile. Furthermore, geopolitical factors and trade regulations can impact the supply chain dynamics, leading to disruptions that affect market stability. The increasing focus on environmental regulations can also present challenges; companies may need to invest significantly in compliance measures, which could deter new entrants into the market and lead to higher operational costs for existing players.

Apart from threats, there are restraining factors that can limit the market's growth. The lack of awareness regarding the benefits and applications of synthetic rutile among certain end-user industries can hinder its adoption. Many manufacturers are still reliant on traditional materials, and transitioning to synthetic alternatives may require significant education and marketing efforts. This situation is particularly prevalent in developing regions, where the understanding of synthetic rutile's advantages may not be fully recognized. Additionally, the high capital investment required for advanced production technologies can deter small to medium-sized enterprises from entering the market, resulting in limited competition and innovation. These factors combined can create a challenging environment for the synthetic rutile market, necessitating strategic efforts from manufacturers to overcome these barriers and capitalize on available opportunities.

Competitor Outlook

• Iluka Resources Limited
• Tronox Holdings plc
• Kenmare Resources plc
• Sierra Rutile Limited
• TiZir Limited
• Rutile Resources Pty Ltd
• China Titanium Corporation
• V.V. Mineral
• Wellington International Ltd
• Group 6 Metals Limited
• Southern Ionics Incorporated
• Royal Gold, Inc.
• Rio Tinto Group
• Australian Zircon NL
• Berkeley Resources Limited

The competitive landscape of the synthetic rutile market is characterized by the presence of several key players, each vying for a share of this growing market. Major companies like Iluka Resources Limited and Tronox Holdings plc dominate the market due to their extensive production capacities and established presence in the titanium industry. Iluka Resources, with its advanced processing technologies and a focus on sustainability, is recognized as a leader in synthetic rutile production. Tronox Holdings, on the other hand, is known for its diversified product offerings and strategic acquisitions, enabling it to strengthen its market position. These companies leverage their operational efficiencies and strong distribution networks to cater to the growing demand for synthetic rutile across various applications.

Additionally, emerging players such as Kenmare Resources plc and TiZir Limited are making significant strides in the synthetic rutile market. Kenmare Resources has positioned itself as a key competitor by focusing on expanding its production capabilities and enhancing the quality of its products. The company operates in Mozambique and is recognized for its commitment to sustainable practices. TiZir Limited is another player gaining traction, integrating its operations to ensure a consistent supply of high-quality synthetic rutile. These emerging companies are fostering healthy competition and contributing to the overall growth of the market by introducing innovative production methods and diversifying their product offerings.

Furthermore, companies like Southern Ionics Incorporated and China Titanium Corporation are also noteworthy competitors in the synthetic rutile market. Southern Ionics specializes in producing high-quality titanium products and has been expanding its market share through strategic partnerships and collaborations. China Titanium Corporation plays a significant role in the industry, focusing on the domestic market while also exploring opportunities for international expansion. The competitive landscape is dynamic, with established players and emerging companies continuously adapting to market demands and technological advancements, ensuring a competitive edge.

• 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 V.V. Mineral
    • 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 TiZir Limited
    • 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 Rio Tinto Group
    • 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 Royal Gold, 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 Tronox Holdings plc
    • 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 Australian Zircon NL
    • 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 Kenmare Resources plc
    • 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 Sierra Rutile Limited
    • 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 Group 6 Metals Limited
    • 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 Iluka Resources Limited
    • 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 Rutile Resources Pty Ltd
    • 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 Berkeley Resources Limited
    • 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 China Titanium 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 Southern Ionics Incorporated
    • 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 Wellington International Ltd
    • 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 Synthetic Rutile Market, By Grade
    • 6.1.1 High Grade
    • 6.1.2 Low Grade
  • 6.2 Synthetic Rutile Market, By Application
    • 6.2.1 Titanium Dioxide Production
    • 6.2.2 Welding Electrodes
    • 6.2.3 Pigment Production
    • 6.2.4 Refractory Material
    • 6.2.5 Others
  • 6.3 Synthetic Rutile Market, By Product Type
    • 6.3.1 Chloride Process
    • 6.3.2 Sulfate Process
  • 6.4 Synthetic Rutile Market, By Use Industry
    • 6.4.1 Automotive
    • 6.4.2 Construction
    • 6.4.3 Aerospace
    • 6.4.4 Paints & Coatings
    • 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 Synthetic Rutile 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 Synthetic Rutile market is categorized based on

By Product Type

• Chloride Process
• Sulfate Process

By Application

• Titanium Dioxide Production
• Welding Electrodes
• Pigment Production
• Refractory Material
• Others

By Use Industry

• Automotive
• Construction
• Aerospace
• Paints & Coatings
• Others

By Grade

• High Grade
• Low Grade

By Region

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

Key Players

• Iluka Resources Limited
• Tronox Holdings plc
• Kenmare Resources plc
• Sierra Rutile Limited
• TiZir Limited
• Rutile Resources Pty Ltd
• China Titanium Corporation
• V.V. Mineral
• Wellington International Ltd
• Group 6 Metals Limited
• Southern Ionics Incorporated
• Royal Gold, Inc.
• Rio Tinto Group
• Australian Zircon NL
• Berkeley Resources Limited