Titanium (IV) Chloride Market Size, Share, Growth, and Industry Analysis by Type (High Titanium Slag, Rutile), by Application (Titanium Dioxides Manufacturing, Precursor of Titanium Metals and Powders, Catalysts, Others), Regional Insights and Forecast to 2031

Updated On: 22 April 2024

TITANIUM (IV) CHLORIDE MARKET REPORT OVERVIEW

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The global titanium (IV) chloridemarket size was USD 9129 million in 2021 and the market is projected to touch USD 11470 million by 2028, exhibiting a CAGR of 3.3% during the forecast period.

Titanium (IV) chloride, also titanium tetrachloride, is the inorganic compound with the formula TiCl4. It is a colourless liquid with a penetrating odour. Titanium tetrachloride does not exist naturally in the environment but is man-made using minerals that contain high levels of titanium. the increasing demand for titanium dioxide in various industries, such as paints and coatings, plastics, and paper, and the growing use of titanium(IV) chloride in the production of titanium metal. Titanium tetrachloride (TiCl4) is used mainly in the chemical industry as an intermediate in the production of titanium dioxide and titanium metal in the form of sponge or powders. TiCl4 is also used in the manufacture of catalysts and as a glass and metal surface treatment.

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

TITANIUM (IV) CHLORIDE MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into high titanium slag, rutile.

High titanium slag will capture the maximum market share through forecast period.

High titanium slag market states to the market for a type of feedstock used to produce titanium (IV) chloride. High titanium slag is a by-product obtained during the casting of ilmenite or titanium dioxide ores.

Rutile market refers to the market for another type of raw material, which is a natural form of titanium dioxide found in beach sands.

• By Application Analysis

According to application, the market can be segmented into titanium dioxides manufacturing, precursor of titanium metals and powders, catalysts, others.

Titanium (IV) chloride market players cover segment as titanium dioxides manufacturing will dominate the market share during forecast period.

Titanium dioxides manufacturing - Titanium (IV) Chloride is a primary raw material in the chloride process for manufacturing titanium dioxide (TiO2), a widely used white pigment. The demand in this segment is driven by the use of TiO2 in paints, coatings, plastics, and paper industries.

Precursor of titanium metals and powders - Titanium (IV) Chloride is used in the Kroll process to produce titanium metal and titanium powders. The demand is driven by the aerospace, defense, and medical industries due to titanium's high strength-to-weight ratio and corrosion resistance.

Catalysts -It serves as a catalyst in various chemical reactions, including polymerization processes. The growth in the polymer industry, especially for polyolefins, drives demand in this segment.

Others- This includes a variety of smaller-scale applications like smoke screens, skywriting, and as a reagent in organic synthesis.

DRIVING FACTORS

"Increasing Demand In The Paints And Coatings Industry To Boost The Market Growth"

Increasing demand for titanium dioxide in the paints and coatings industry is driving the growth of the market. Titanium dioxide is a white pigment that is widely used in the production of paints, coatings, and other industrial applications. It provides excellent opacity, brightness, and UV resistance to the final products.

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the titanium (IV) chloridemarket growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices. Technological advancements that make the production of titanium (IV) chloride more efficient and environmentally friendly can stimulate market growth.

RESTRAINING FACTOR

"Strict regulations To Hamper The Market Growth"

Strict environmental and safety regulations regarding the production, handling, and transportation of titanium (IV) chloride can limit market growth.  The implementation of strict regulations regarding worker safety, waste management, and emissions control adds to the operational costs and compliance burden for manufacturers. Technical difficulties will reduce the industry revenue.

TITANIUM (IV) CHLORIDE MARKET REGIONAL INSIGHTS

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"North America to Dominate the Region Due To The Increasing Growing Construction, Automotive And Consumer Goods Industries"

"The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa. "

North America is further expected to witness growth in the titanium (IV) chloridemarket share. The region is dominating the market due to the growing construction, automotive, and consumer goods industries. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• Chemours (U.S.)

• TOHO TITANIUM (Japan)

• OSAKA Titanium Technologies (Japan)

• Lomon Billions (China)

• Tianyuan Group (China)

INDUSTRIAL DEVELOPMENT

October 2022:  LB Group (formerly known as Lomon Billions Group) will promote its high-performance titanium dioxide (TiO₂) pigments for plastics at K2022 in Düsseldorf, Germany.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.