Titanium Nitride Market

Titanium nitride, also known as tinite, is an extremely hard ceramic material, which is used as a thin coating to enhance surface properties on substrates such as copper, titanium alloys, and steel. Titanium nitride exhibit properties such as high hardness, high heat resistance, superior resistance to corrosion, low friction,high compressive resistance,and enhanced wear resistance. In addition, it is non-toxic, electrically conductive, non-oxidizing, and harder than carbide. Titanium nitride is used widelyin cutting instruments, as it has a high tolerance to oxidation and hardness. It is further used in medical surgical devices and food processing equipment, as it is nontoxic in nature. Owing to its metallic gold appearance, it is used for coating gold accessories, bicycle &motorcycle forks, and vehicle trims (for decoration purposes). Furthermore, it is used in components of aerospace, plastic molding tools (especially high-finish tools), as well as in stamping, punching, and cold forming equipment.

Key drivers of global titanium nitride market

The growth of the global titanium nitride market is driven by increase inuse of titanium nitride as a coating material in the machine tool industry to enhance the life and efficiency of cutting and pressing equipment. Surge in demand for titanium nitride in the motor racing industry for part coating such as valves, valve gears, connecting rods, bearings, hubs, and other slipping and worn surfaces is expected to fuel the growth of global titanium nitride market duringthe forecast period.

Market scenario: opportunities and challenges

The demand for titanium nitride is projected to generate significant growth opportunities in the future. This is attributed to increase inuse of titanium nitride as a hard coating in medical implants, food processing machinery, and pharmaceutical equipment. However, titanium nitride-based coatings are expensive, and the coating process must be carried out with the help of experts, which may incur high initial capital requirement. This aspect is expected to curb the demand for titanium nitride duringthe forecast period. On the contrary, the development of the medical industry is expected to provide lucrative opportunities for the suppliers operating in the market. In the orthopedics industry, the demand for titanium nitride-based coatings is rising, as these coatings are biocompatible, reduce the release of metal ions into the joint space of the patient, and minimize bacterial proliferation.

COVID-19 scenario analysis

Global titanium nitride market is expected to witness slowdown during the forecastperiod, owing to the outbreak of the COVID-19 pandemic. In addition, companies are grappling with missed sales and fragmented supply chains as production shutdowns and quarantine policies extend across the world, limiting operational activities, which, in turn, creates negative impact on global titanium nitride market. However, the medical sector, being an essential service, fuels theneed for titanium nitride, as it is nontoxic in nature, and is majorly applicable in medical devices such as scalpel blades and orthopedic bone saw blades where sharpness and edge retention are important.

Key benefits of the report

• This study presents the analytical depiction of the global titanium nitride industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global titanium nitride market share.
• The current market is quantitatively analyzed to highlight the global titanium nitride market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

Questions answered in the global titanium nitride market research report:

• Which are the leading market players active in the global titanium nitride market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Titanium Nitride Market Report Highlights