Los Angeles, January 7, 2020 -Titanium (IV) chloride possess powerful dehydrating ability therefore, it is extensively used for reducing coupling reactions and functional groups. It helps in tracing metals basis. QY Research has recently added a report titled “Global Titanium (IV) Chloride Market Research Report 2019” that portrays the opportunities and growth that lie in the global market. The global titanium (IV) chloride market was worth US$8424 during 2018 and is expected to reach US$10931 mn by the end of 2026, registering a CAGR of 3.17% during the forecast period of 2019 to 2026.
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Demand from Titanium Metal Industry to Boost the Global Titanium (IV) Chloride Market
The primary demand for titanium (IV) chloride is for the production of pigment titanium dioxide and titanium metal. It is extensively used worldwide for the production of pigment titanium dioxide. The worldwide titanium metal demand is met when titanium (IV) chloride’s goes through Kroll process. It is also used in the production of smoke screens as it possess the characteristics of producing heavy, white smoke. As it forms titanium compounds and hydrochloric acid, it is used to make titanium containing compounds that are used in paints and other products to produce chemicals. It finds application in metalwork, pigments, plastics, electronics, and deposition materials.
The market is expected to face certain restraints as this chemical is highly corrosive in nature and if comes in contact with human body, can cause permanent injury or other deformities. It is also highly flammable hence, can cause explosion and create poisonous gases. Regulation from government bodies on the safe usage of the chemical is expected to restrict its growth.
Titanium Metals Segment Expected to Rise as Demand for Strong Metal Rises from Various Industries
As titanium is an alloying metal, it is extensively used with metals such as magnesium, molybdenum, iron, and aluminium. These are basically incorporated in the materials used for production engines, aircrafts, and aerospace as they inherit strength and resist temperature. Thus, precursor of titanium metal and powders segment is expected to rise during the forecast period.
North America is expected to lead the global market as it is technologically advanced. Government bodies are investing in research and development activities to boost economic growth of this region.
Key players in the global market are competing against each other to establish better and safer products in the market. Emerging key players might have to face government regulated restrains.
The key players operating in the global titanium (IV) chloride market are Chemours, Tronox, Venator, Kronos, INEOS, ISK, TOHO TITANIUM, OSAKA Titanium Technologies, Lomon Billions, and CITIC Titanium.
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