A range of attractive physical, chemical, and thermal properties of titanium diboride (TiB2) makes the polycrystalline ceramic material a promising candidate for a variety of applications. There is noticeable usage of this ceramic in specialized applications such as in making impact resistant armor, cutting tools, molten metal handling crucibles, and wear resistant coatings. The adoption of better economics for bringing down the cost of molding TiB2 will lead to its broader applications in the coming years. A recent report by Transparency Market Research (TMR) titled “Titanium Diboride Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024”, offers insights that takes a granular assessment of current and emerging trends influencing the growth of the market. The study also strives to identify lucrative avenues and imminent investment pockets.
The remarkable hardness, notably high strength, striking durability, and exceptional chemical inertness are some of the salient properties making TiB2 the choice of material in various applications. The prominent usage of TiB2 in the aluminum industry as Hall–Heroult cells cathodes used for aluminum smelting process is a notable factor accentuating the market. In addition, the use of the ceramic in making evaporation boats for vapor coating of aluminum is also boosting the market.
The evolving usage of titanium diboride in developing ceramic-matrix composites that can be used in high-temperature structural components bodes well for the market. The development of TiC–TiB2 is a case in point. The high wear resistance of TiB2 promotes its usage as thin films in a number of protective applications, notably in seals and wear parts. The rising application of titanium diboride composites in commercial alloy applications is aiding in the rapid expansion of the market.
The global titanium diboride will also benefit from the rising usage of titanium diboride composites in the aerospace industry and for cost-effectively making high-performance automotive parts.
The difficulty in molding such a highly dense material and the unexpected variability of the material properties where TiB2 composites are used are key bottlenecks that may hinder the growth of the market. Nevertheless, advancement in manufacturing technologies will open promising avenues in the market.
Regionally, Asia Pacific is expected to be a potentially lucrative market for titanium diboride, driven by the vastly rising demand coming from the aluminum industry. Meanwhile, North America and Europe are also expected to contribute a large share of the global market. This is attributed largely to the extensive demand of titanium diboride coming from the automotive manufacturing market in these regions.
Request to view Sample Report:
Some of the players operating in the market include Aremco Products Inc., Kennametal, VanadiumCorp Inc., MemPro Materials, Ceradyne, Inc., Kurt J. Lesker Company, Advanced Ceramics Manufacturing, Momentive Performance Materials Inc., GE Advanced Ceramics, ESPI Metals, H.C. Starck GmbH, Treibacher Industrie Inc., Precision Services, CiDRA Holdings LLC, 3M, and ESK Ceramics GmbH & Co. KG.