Potassium Titanate Market: Potassium titanate offers excellent resistance to friction and high temperature
- Potassium titanate is a titanic acid compound, which is known for its superior resistance to wear, high strength, and exceptional stiffness. Potassium titanate has a high melting point of around above 1,300°C temperature and offers excellent resistance to friction due to its non-metallic properties.
- Potassium titanate has diverse commercial applications in various industries including automobile, plastic, ceramic, and electronics. Potassium titanate is majorly employed as an additive, especially in brake pads, key switches, bearings, gears, and connectors. Rising demand for brake pads across the automotive industry is likely to fuel the potassium titanate market in the near future.
Key drivers of Potassium Titanate Market
- Potassium titanate is also utilized in welding fluxes. It is a key constituent in the coating of welding rods. Rising demand for welding materials in several industries, owing to the high-temperature resistance and low dielectric properties of potassium titanate, is likely to boost the potassium titanate market in the near future. Additionally, rising demand for high-resistance material of brake pads across the metal and automotive industries across developing countries in Asia Pacific, such as China, India, Indonesia, and Vietnam, is anticipated to offer lucrative opportunities to manufacturers in the region.
- Potassium titanate is majorly utilized in the production of metal, organic, and ceramic matrix composites. It is also used in metal replacement to reduce weight of or conserve energy in vehicles. These factors are expected to fuel the demand for potassium titanate across the globe.
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Automotive segment to offer significant opportunities
- In terms of the end-use industry, the potassium titanate market can be divided into automotive, metal, electronics, and polymer. High demand for excellent wear-resistant materials, such as potassium titanate, is projected to boost the market during the forecast period. Potassium titanate is extensively utilized in the automotive industry for various applications in four-wheelers and two-wheelers. The braking system is essential for the safety of passenger cars and two-wheelers.
- Potassium titanate plays a vital role in the manufacture of braking components in the automotive industry, as it offers high friction which is of high value in the braking system
- Rise in demand for automotive vehicles including two-wheelers, especially in emerging economies such as India, China, and Indonesia, is projected to boost the potassium titanate market in the near future
Asia Pacific to hold key share of global potassium titanate market
- In terms of geography, the demand for potassium titanate can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is projected to lead the global potassium titanate market, followed by North America and Europe, during the forecast period. Rising demand for automotive spare parts in China, Japan, and South Korea is expected to fuel the demand for potassium titanate during the forecast period.
- Rising FDI investment by various private players in the automotive and metal industries in developing countries is a key factor that is likely to fuel the market in Asia Pacific during the forecast period
- The market in North America and Europe is projected to expand at a moderate pace due to a well-established automotive industry in these regions. Rising demand for lightweight materials in Europe, due to stringent regulations on carbon emission, is estimated to drive the demand for potassium titanate in the near future.
- The market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace due to the limited expansion of the automotive industry in both regions. Increasing demand for personal vehicles in both regions is projected to fuel the potassium titanate market in these region in the near future.
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Key Players Operating in the Market:
Global potassium titanate market has presence of numerous manufacturing companies. A few key players operating in the potassium titanate market include
- Travancore Titanium Products Ltd.
- Otsuka Chemicals Ltd
- TAM Ceramics
- TOHO Titanium Co. Ltd
- Nanoshel LLC
- Noble Alchem Private Limited
Global Potassium Titanate Market: Research Scope
Global Potassium Titanate Market, by Form
Global Potassium Titanate Market, by End-use Industry
- Others (Aerospace, Construction)
Global Potassium Titanate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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