Titanium chloride is also known as titanium tetrachloride, titanium dichloride or titanium trichloride. Titanium chloride is an inorganic compound which is colorless and has an incisive odor. It is a human-made mineral and does not exist naturally in the environment that contains high levels of titanium. It is most significantly used in the chemical industry as an intermediate in the production of titanium metal and titanium dioxide. Due to its hazard potential, it is handled under strictly controlled conditions. It is prevalently consumed for the titanium metal production which is widely used in the aerospace industry. Along with this, Titanium chloride is utilized as a catalyst in the manufacturing of ethylene polymerization. Moreover, Titanium chloride finds its applications in the defense, aerospace, and dyes, among other industries.
As per study, “Global Titanium Chloride Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global titanium chloride market include Chemours, Huntsman, CRISTAL, OSAKA Titanium Technologies, Kronos, Xiantao Zhongxing Electronic Materials, Tronox, HUAXING Titanium And Zirconium, Ishihara, Henan Longxing Titanium, TOHO Titanium, Xinmao Titanium, Ansteel, Cangzhou Heli Chemicals, Yunnan Xinli Non-Ferrous Metals, Haihua Industry Group. Leading players are emphasizing on the extension of the production capacity in order to cater the increasing demand for Titanium chloride and also, to improve their presence in the global market. Based on type, titanium chloride market is segmented as industry grade, electronic grade and others. In addition, based on application, market is segmented as plastics, metalworking, electronics, pigments, deposition material and others.
The titanium chloride market is driven by rise in demand from end-user industry, followed by increase in the industrial sector in emerging economies, rise in demand from dyes industry and growth in technological innovation & development along with increase in applications such as paints & coatings, minerals, and plastic. However, high cost of production, stringent regulation on hazardous chemicals in the developed region and fluctuating prices of raw materials may impact the market.
Based on geography, the North-American and European regions hold significant share in global titanium chloride market owing to growth in an aerospace fleet and chemical industry in the regions. Additionally, stringent government regulation in North America and Europe may hamper the growth of the market in next few years. The demand for Titanium chloride in these regions is anticipated to register steady growth over the forecast period. The Asian-Pacific region is estimated to witness higher growth rate due to noteworthy growth of chemical, dyes and aerospace industry in South Korea and China over the forecast period. Along with this, in terms of the production, China country is anticipated to hold largest share of the market as a result of the abundant availability of the raw materials coupled with low cost of production during the forecast period. It is expected that China Titanium chloride Market will register healthy growth rate over the forecast period. Moreover, the Latin America and the Middle East & Africa region are predictable to register sluggish growth over the forecast period.
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Ankur Gupta, Head Marketing & Communications