Titanium Tetrachloride Market: Introduction
Titanium tetrachloride, Mol. Formula. TiCl4, is an inorganic chemical compound that belongs to the Titanium Halide group. Generally, pure titanium tetrachloride is a colorless, transparent, dense, and non-conductive liquid in nature. Industrially, titanium tetrachloride is produced through several methods such as chloride process, Magnesium Thermal Reduction, and sodium reduction, among others. Among these processes, the Chloride process is mainly preferred owing to the low cost of production and high yield of the process. In this process, the titanium oxide ores i.e. ilmenite is reduced with the Carbon and Chlorine gas. The formed product is further distilled out to produce pure Titanium Tetrachloride which is soluble in water as well as inorganic solvents.
Generally, Titanium tetrachloride is a major raw material involved in the production of the titanium metal, titanium sponge, titanium dioxide and titanium chloride, among others. Among these derivatives, Titanium tetrachloride is prevalently consumed for the titanium metal production which is extensively used in the aerospace industry. Along with this, Titanium tetrachloride is used as a catalyst in the manufacturing of ethylene polymerization. Moreover, Titanium tetrachloride finds application in the aerospace, defense, and dyes, among other industry.
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Titanium Tetrachloride Market: Dynamics
Across the globe, there has been significant growth in the production of the aerospace fleet owing to which demand for the titanium metal is increasing that in turn help to drive Titanium tetrachloride market. Along with this, increasing demand from the dyes industry will further boost the Titanium tetrachloride market. Moreover, rising demand for titanium dioxide and titanium chloride in the chemical industry will, in turn, provide the impetus for the growth of Titanium Tetrachloride Market. However, the stringent regulation on hazardous chemicals in the developed region may hamper the growth of the market. Also, the rising demand for bio-based chemicals in the manufacturing sector to support sustainable development will hinder the market growth. Moreover, it is observed that several key players are emphasizing on the expansion of the production capacity in order to cater the rising demand for Titanium Tetrachloride and also, to enhance their presence in the global market.
Titanium Tetrachloride Market: Segmentation
On the basis of the production process, the Global Titanium tetrachloride market can be segmented into
- Magnesium Thermal Reduction
- Sodium Thermal Reduction
- Aluminum Reduction
On the basis of derivatives, the Global Titanium tetrachloride market can be segmented into
- Titanium Nitride
- Titanium Dioxide
- Titanium Metal
- Smoke Screens
On the basis of End Use, the Global Titanium tetrachloride market can be segmented into
Titanium Tetrachloride Market: Regional Outlook
In terms of demand, North America and Europe, together, are expected to hold a significant share of the Titanium Tetrachloride Market. This is mainly attributed to growth in an aerospace fleet and chemical industry in these countries. Moreover, stringent government regulation in Europe and North America may hamper the growth of the market in the upcoming years. The demand for Titanium Tetrachloride in North America and Europe is expected to register steady growth over the forecast period. Moreover, the East Asia market is expected to register healthy growth over the forecast period. Significant growth of chemical, dyes and aerospace industry in China and South Korea is expected to drive demand for Titanium Tetrachloride Market in the region. Along with this, in terms of production, China is expected to hold lion’s share of the market owing to the abundant availability of the raw materials and low cost of production. It is expected that China Titanium Tetrachloride Market will register healthy CAGR over the forecast period. Moreover, Latin America and the Middle East and Africa region are expected to register sluggish growth over the forecast period.
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Titanium Tetrachloride Market: Key participants
Some of the key players identified across the value chain of the global titanium tetrachloride market are given below:
- Huntsman International LLC
- DowDuPont Inc.
- Kronos Lab Sciences Pvt. Ltd.
- Tronox Limited
- ISK Industries
- The Kerala Minerals & Metal Ltd.
- Merck KgA