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Titanate Praseodymium Market Segmented By Plane Target and Rotating Target type with Application such as Electronics, Solar Cells/Photovoltaics, Architecture Glasses, Automobile Glass
Titanate praseodymium is a metal compound produced with a minimum purity level of 99.9%. Titanate praseodymium consists of Praseodymium which occurs along with other lanthanide elements in a variety of minerals and titanium which is similar to zirconium in its physical and chemical properties.
Titanate praseodymium comes in various shapes such as rectangular, circle, tubes and wafer amongst others. Titanate praseodymium is used in a wide variety of application such as optical discs, solar cells, flat panel display, automotive and architectural glass, electron microscopes, semiconductors and others.
Growing adoption of solar power generation, and increasing urbanization coupled with growing infrastructural activities is expected to be the prominent factor driving the market of titanate praseodymium. Titanate praseodymium is mixed with other metal for the production of architectural glasses, as it provides strength and corrosion resistance to material.
Rising demand for glass in building & construction is likely to increase the demand for titanate praseodymium. Moreover, titanate praseodymium is widely consumed in the manufacturing of solar cell as it is cheaper and efficient than other material such as graphene.
Increasing focus towards energy conservation is projected to drive the demand for solar photovoltaics, which in turn will positively influence the market growth. Titanate praseodymium is also used in the manufacturing of aircrafts engines due to high strength alloy formation with magnesium which makes titanate praseodymium popular material in aerospace industry.
Rising aircraft production is expected to drive the demand for titanate praseodymium. The automotive industry is the other sector driving the demand for titanate praseodymium owing to its significant consumption in the manufacturing of automotive glasses and other aesthetic parts.
Increasing consumption of titanate praseodymium in the electronic sector for the production of batteries is also augmenting the demand for titanate praseodymium. Furthermore, titanate praseodymium serves numerous niche application such as optical disc, watches, cigarette lighters, carbon arc lights and electric motor others which creates a significant impact on the titanate praseodymium market in the upcoming years.
The Global titanate praseodymium market is considered to be fragmented due to the presence of many local as well as international players in the market. Manufacturers in the market of titanate praseodymium are adopting various strategies such as expansion, joint ventures to meet the demand of the consumer.
However, fluctuation in the price of raw material is considered to be a restraining factor in the titanate praseodymium market. Moreover, stringent government regulation on the manufacturing of titanate praseodymium may also obstruct the market growth of titanate praseodymium
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The Asia Pacific region is expected to represent the substantial growth in the titanate praseodymium market in the coming future, owing to increasing demand from solar cell manufacturing, which in turn drives the growth of titanate praseodymium market. Increasing project on solar energy & wind power for energy conservation in countries such as China & India result in boosting the demand for titanate praseodymium.
Whereas, Europe & North America are anticipated to witness considerable growth in the global titanate praseodymium market due to increasing automotive glass production triggered by lucrative growth of the automobile industry.
Furthermore, Latin America and the Middle East & Africa are estimated to witness moderate growth in the titanium praseodymium market owing to decent growth of the end-use industry such as automotive, electronics and others
Some of the key market participants in the market of Titanate Praseodymium are as follows:-
The Titanate Praseodymium Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with Titanate Praseodymium market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.