Titanates are inorganic compounds formed by combination of titanium, oxygen, and one or more metallic elements. Some of the common titanates usually employed in industrial applications are potassium titanate, potassium magnesium titanate, calcium titanate, dysprosium titanate, barium titanate, and strontium titanate. Titanates are widely used due to their advantages such as high mechanical strength, excellent heat resistance, high corrosion resistance, high thermal insulation, and high infrared reflectivity. They have extremely low coefficient of heat conductivity at high temperatures. Upon combination with metals, titanates offer several advantages such as dense and soft structure, refractive index nearly equal to that of diamond, and higher dispersion as compared to diamond. These properties make it a great alternative for diamond. Due to these advantages, titanates along with different metals are used extensively across various industries. For example, friction coefficients of potassium titanate and potassium magnesium titanate show stability from room temperature to high temperature.
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This assures smooth braking. Hence, potassium magnesium titanate is widely employed in brake pads in the U.S. and Europe. Potassium titanate is widely used to reinforce plastic composites in order to improve the mechanical performance of these composites. Plastic composites are employed as fine parts in applications wherein properties such as high strength, heat resistance, and wear resistance are required. The friction control property of titanates can be utilized in brake tiles for trains and clutch pieces. Strontium titanate in its synthesized form is widely used as an alternative for diamond in precision optics, varistors, and advanced ceramics. Synthetic strontium titanate can be used in high-voltage capacitors, owing to its properties such as very high di-electric constant and superconductivity at low temperatures. Strontium titanate is also employed in jewelry and fiber optics. Calcium titanate is extensively used in bone implants in hip replacement surgeries. Barium titanate is applied in uncooled sensors for thermal cameras, owing to its pyro-electric and ferro-electric properties. Although there exist numerous advantages and applications of titanates, one major hindrance to their use is that some titanates prove to be very costly. Especially, titanates that are used as substitutes for diamonds are expensive.
Titanates are extensively used in consumer goods, jewelry products, power storage devices, medical surgeries, automotive equipment, and industrial applications. The increasing demand for jewelry and automobiles is, in turn, driving the demand for titanates. Furthermore, economic development, rising disposable incomes, and need for power generation infrastructure are a few factors contributing to the increase in demand for titanates.
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Based on application, the titanates market can be segmented into diamond jewelry manufacturing, power generation equipment, medical industry, automotive components, and semiconductor devices. Titanates are majorly used in the manufacture of diamond jewelry and applications such as optics, where titanates are being employed as substitutes for diamonds. . The surge in demand for diamond jewelry in countries such as the U.S., India, China, and Japan is fueling the titanates market in the diamond jewelry manufacturing segment. The titanates market is anticipated to expand in the medical industry segment during the forecast period.
Geographically, the global titanates market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Increasing demand for titanates in the manufacture of jewelry and optics, power generation equipment, and automotive equipment is making the global titanates market an attractive one. Especially, the use of titanates in diamond jewelry and as a substitute for diamond in certain applications is likely to make the U.S. and, in turn, North America an attractive market for titanate during the forecast period. (The U.S. is one of the leading consumers of diamond.) Countries of the Asia Pacific region such as China, Japan, and India are major consumers of diamond after the U.S. Moreover, these countries are witnessing tremendous industrial, economic, and infrastructural growth and experiencing a boom in sectors such as electronic & electric semiconductors and automotive. Hence, the titanates market in Asia Pacific is anticipated to expand at a significant rate during the forecast period.
Some of the key players operating in the global titanates market are TPL Inc., NEI Corporation, Atlantic Equipment Engineers Inc., Nano Oxides Inc., Royce International, Dimat Inc., and TBT Group Inc.