Titanium Nitride Market- Global Industry Analysis, Size, and Forecast, 2018 - 2026
Added: (Thu Jan 24 2019)
Pressbox (Press Release) -
According to a new report published by Transparency Market Research, the titanium nitride market will record significant growth owing to the rising demand from the motor racing industry across the globe. The report titled, “Titanium Nitride Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026,” anticipates that the global market will grow remarkably during the forecast period.
Titanium nitride is used in the motor racing industry for coating of components such as valves, valve gears, connecting rods, bearings, hubs, and other sliding and wearing surfaces is likely to boost the global titanium nitride market during the forecast period. Growing global medical industry is expected to provide lucrative growth opportunities to manufacturers of titanium nitride. Demand for titanium nitride-based coatings is rising in the orthopedics industry, as these coatings are biocompatible; they reduce the release of metal ions into the patient's joint space; and they minimize bacterial proliferation.
In terms of regional perspective, the global titanium nitride market is classified into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. Asia Pacific, Europe, and North America are expected to hold significant share of the global titanium nitride market throughout the forecast period. Growth of the titanium nitride market in Asia Pacific is primarily due to rapid economic and industrial growth as well as growth of the automotive sector in developing economies in the region such as India, Malaysia, Vietnam, and Indonesia.
The titanium nitride market in the U.S., Germany, and France are expected to witness significant growth during the forecast period, due to rising application of titanium nitride as a hard coating in medical implants, food processing machinery, and pharmaceutical equipment. The markets in Latin America and Middle East & Africa are expanding at a sluggish pace, due to low product awareness among customers in these regions. However, rise in research, capacity expansion, and brand promotion activities is expected to raise the demand for titanium nitride in Latin America and Middle East & Africa during the forecast period.
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