Titanium Diboride Market Size

Titanium Diboride Market size is poised to reach USD 9 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of titanium diboride was USD 3 Billion. This growth of the market is set to be dominated by growing demand for lightweight material in different applications including automotive. Lightweight materials have a lot of potential to improve vehicle efficiency since they require less energy to accelerate a lighter item than a heavy one. A 6%-8% increase in fuel efficiency can be obtained with a 10% decrease in vehicle weight. Hence, titanium diboride has lately been used in the production of car pistons, drive shafts, cylinder liners, cutting tools, crankshafts, and brake drums.

Furthermore, the development of new materials with exceptional properties is becoming more and more important as research and development expenditures rise. Due to its special set of qualities, titanium diboride is expected to see an increase in demand in the upcoming years.