Press release
Titanium Dihydride Market Size to Observe Steady Growth by 2021
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The global demand fortitaniumcontinues to rise with significant growth of aerospace industry due toincreasing demand for modern and fuel-efficient aircrafts. Additional growth is also anticipated from the industrial sector, based on consumer demand and expansion of infrastructure in developing economies. The consumer demand has been influenced by various growing applications such as sporting goods, automotive, architecture, and medical among others.
Growth of automotive industry due to several aspects such aschanging lifestyle, increasing population and technological advancement is expected to be one of the primary factors driving the titanium dihydride market over the next few years. Furthermore, the expanded use of titanium in aerospace industry for modern aircraft designs with increased CFRP (carbon fiber reinforced polymer [or plastic]) composition is also expected to contribute to the growth of the market.However, fluctuating prices of certain energy sources such as crude oil which serves as a part oftitanium production is expected to hamper the growth of the market.
North America was the largest consumer for titanium dihydrideowing totheir vast automotive and aerospace industries, specifically in the U.S. Future market growth is expected from Asia Pacific owing to growing automotive industry and increasing industrial activities in emerging economies such as China and India, thereby providing new opportunities for the growth of the market.
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Pangang TitaniumIndustry Co., Ltd, G&S Titanium, Titan Engineering Pte Ltd., Hebie Meida Chemicals Co. Ltd., and Kronos, Inc. are some of the key players present in the titanium dihydride industry.
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