According to study, “Global Titanium Diboride Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world titanium diboride market are H.C. Starck GmbH, LongjiTetao, PENSC, Dandong Rijin, KennametalSintec USA, Japan New Metals, Orient Special Ceramics, Eno Material, Sinyo, 3M, ESK Ceramics GmbH & Co. KG, CiDRA Precision Services, LLC, HardCoating Technologies Limited, TreibacherIndustrie Inc., ESPI Metals, GE Advanced Ceramics, Advanced Ceramics Manufacturing, Kurt J. Lesker Company, Ceradyne, Inc., Momentive Performance Materials Inc. (MPM), MemPro Materials, Aremco and Kailash Marketing Associates, VanadiumCorp Resource Inc, JAI Engineering Ltd, PLANSEE SE, DCEI, Treibacher Industries Inc., Jingyi Ceramics, Materion.
Titanium diboride is a type of metallic hard materials group. It is generally known for its extreme hardness and composition. It is composed of boron & titanium that are identified for its resistance to mechanical erosion. It is also known as reasonable electrical conductor and thus has application as a cathode material in aluminum smelting. It is shaped by electrical discharge machining. It is not readily obtainable in nature but is synthesized by reduction reaction such as carbothermal reduction process. Its chemical formula is TiB2. It is a hexagonal crystal structure which has melting point of 2900 degree Celsius. It has specific hardness of 9.5 (Mohs scale) and gravity of 4510 km/m3. It is used as a raw material in refining the grain size while casting aluminium alloys. It also acts as a corrosion resistor. Its thin films are used to provide corrosion & wear resistance to a tough or a cheap substrate. It is used as a component in ceramic composites for refractories, and electrode material in electrolysis cells in aluminum.
The key advantages are highest boride fracture toughness, elastic modulus, compressive strength, high electrical and thermal conductivity and high melting point. Apart from advantages, some of the drawbacks are difficult to sinter & mold and limited to pressing to small monolithic pieces.
Based on type, titanium diboride market is segmented into Self-propagating reaction (SHS), carbotherm al reduction method and others. In addition, based on application, market is segmented into electrically conductive/composite ceramics, refractory components, cathodes for aluminum smelting, cutting tools and others.
The titanium diboride market is driven by rise in demand for light weight & long lasting components, followed by growth in demand from aluminum industry for various applications, growth in population & rise in disposable income and increase in demand from end-user industries. However, inhalation of titanium diboride may cause irritation to the mucous membrane is a major restraint factor for market. Moreover, rise in aerospace industry is a key opportunity for market.
Based on geography, China and India countries hold major share in titanium diboride market owing to growth in demand from the aluminum industry in the countries. USA and Europe are expected to witness higher growth rate due to rise in demand from end-use industries over the forecast period. The worldwide market is estimated to grow at a CAGR of approximately 3.1% over the next five years, will reach US 55 million in 2024, from US $46 million in 2019.
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Ankur Gupta, Head Marketing & Communications