QYResearch: Global Titanium(IV) Chloride market will reach 9240.31 million USD by the end of 2023

QYResearch: Global Titanium(IV) Chloride market will reach 9240.31 million USD by the end of 2023 ●Research Report ● Market Survey and Research ●Industry Analysis

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Titanium tetrachloride (TiCl4) is used mainly in the chemical industry as an intermediate in the production of titanium dioxide and titanium metal in the form of sponge or powders. In fact, the most of marker share of titanium tetrachloride is held by those titanium dioxide manufacturers, who adopt chlorine process to produce titanium dioxide. During the chlorine process, titanium tetrachloride exists in the form of an intermediate. Thus, titanium tetrachloride giants, such as Chemours, Huntsman, Crystal, Kronos, Tronox, produce large amounts of titanium tetrachloride and use it directly to manufacture titanium dioxide. Only a small amount of titanium tetrachloride produced by the above companies is sold out each year. qyresearchglobal.com

According to QYResearch, The global Titanium(IV) Chloride market is valued at 7225.91 million USD in 2016 and is expected to reach 9240.31 million USD by the end of 2023, growing at a CAGR of 3.58% between 2016 and 2023.

As for the application of titanium tetrachloride, there is no doubt that titanium dioxide is the largest application, which accounted for 88.78% market share in 2016, followed by titanium metal and powders with 9.25% market share. Besides the two major applications, uses in other fields are also expanding, indicating a promising market.

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Currently, some titanium dioxide manufacturers are planning titanium dioxide new projects with chlorine process. It is estimated that capacity of titanium tetrachloride will expand accordingly in the coming years, once those new projects are put into operation.

Global production of titanium tetrachloride reached to 8415 K MT in 2016. North America is the largest production base of titanium tetrachloride whose output was 4946 K MT in 2016. With more and more capacity will be released in the future, competition for the industry will be intensified and price of titanium tetraide is estimated to keep downward trend.

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