A blackish powder replicating a sodium chloride crystal structure, titanium carbide is a hard refractory ceramic material. Titanium carbide has gained attention across various structural applications as it has high melting temperature & chemical resistance, high hardness and sound conductivity. Pertaining to all the characteristics mentioned above, titanium carbide finds wide application in cermet component manufacturing, cutting tool manufacturing, coating additive and many more. The global Titanium Carbide Market is expected to register a high single digit CAGR over the long term forecast. Increasing production capacities by the key manufacturers, rising manufacturing output across the globe coupled with high demand for drilling applications are the major factors pushing the global Titanium carbide market. However, presence of various alternatives such as titanium nitride, tungsten etc. tend to restrict the market growth over the forecast period.
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Manufacturing sector to provide huge growth prospectus to the market growth over the forecast period
The growth in manufacturing sector across the globe is likely to influence the global titanium carbide market in a positive manner. Titanium carbide is predominantly used across various structural applications such as bearing manufacturing, cutting tool manufacturing and others. The global manufacturing value added (MVA) is likely to showcase a growth rate of 3.9% in 2018, as per United Nations Industrial Development Organization (UNIDO). Furthermore, countries such as India, China, France and United Kingdom would witness positive growth rates in the manufacturing output over the midterm forecast. Moreover, increasing rate of industrialization across the major economies also tend to drive the global Titanium carbide market. Furthermore, the introduction of Industry 4.0 into the manufacturing sector is tending to provide huge growth prospects to the titanium carbide market. Industrial automation on a global level would present lucrative adoption base to the titanium carbide, as emphasis would be laid on large number of machines requiring cutting tools, drilling tools, bearing and others.
Segmentation analysis of Titanium Carbide Market
The global Titanium Carbide market is bifurcated into four major segments that are product size, grade, application and region.
On the basis of product size, the global Titanium Carbide market is divided into:
- Nanoparticles & Dispersion
On the basis of grade, the global Titanium Carbide market is divided into:
- High Purity
- Ultra High Purity
On the basis of application, the global Titanium Carbide market is divided into:
- Cermet Component Manufacturing
- Bearing Manufacturing
- Nozzle Manufacturing
- Cutting Tool Manufacturing
- Coating Additive
Based on region, the global Titanium Carbide market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
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Titanium Carbide Market: Regional Outlook
Based on regional split, the Global Titanium Carbide market covers six major segments that are North America, Europe, Latin America, South Asia & Oceania, East Asia and MEA. Of these, East Asia along with South Asia & Oceania accounted to hold wide market share in terms of volume in 2019. Wide adoption of Titanium Carbide across various applications along with presence of various local players in the region are some of the factors propelling the East and South Asia Titanium Carbide market over the forecast period. Moreover, increasing manufacturing output from the region also tend to leverage wide adoption base to the regional titanium carbide market. Moreover, India has turned out to be one of the top investment pockets under titanium carbide market due to increasing industrialization along with the establishment of manufacturing bases by the foreign companies. Also, Europe and North America are expected to follow for Titanium Carbide consumption in 2019. Middle East & Africa and Latin America accounted for nominal shares under Titanium Carbide market.
Key players of Titanium Carbide Market
Prominent players in the global Titanium Carbide market are American Elements, Metal Titanium Co., Ltd., Reade International Corp., Stanford Advanced Materials, Nanoshel LLC etc. The Titanium Carbide market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the Titanium Carbide market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Titanium Carbide market report provides analysis and information, according to market segments such as type, industry and region.
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