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Transition Metals Market Size, Demand & Growth Analysis with Forecast up to 2025

Press Release   •   Jan 16, 2018 07:14 EST

Metals are elements that lose electrons easily, they are pliable, and shiny. Metals can be categorized in several ways, one of them is called transition metals. The elements comprising transition metals are listed under the D or F orbitals of the periodic table. There are four types of orbitals (S,P,. D, and F) in the periodic table that define the way the electrons are arranged. The D and F orbitals consists of 40 transition metal elements, amongst which, 28 elements belong to the actinide and lanthanide series. Moreover, there are about hundred transition metals, and they have similar properties. For instance, scandium through zinc, and lanthanum through mercury are the types of transition metals. Transition metals are lustrous, silvery, hard, and good conductors of heat and electricity. However, properties between individual elements vary; for instance, tungsten does not melt at room temperature, whereas mercury is a liquid at room temperature.

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The global transition metals market is estimated to witness rapid growth due to the strong demand from construction and transportation sectors during the forecast period. Rapid industrialization and government support in the emerging regions such as Asia Pacific and Central & South America are projected to aid in growth of construction and automotive industries. Environmental concerns and regulations on excessive mining are anticipated to hamper the regional as well as global market.

Based on type, the transition metals market can be segregated into iron, titanium, copper, cobalt, nickel, and others. Iron element is anticipated to lead the transition metals market. It is employed in several industries in the form of alloys. For instance, iron is mixed with other elements (vanadium, tungsten, etc.) to obtain alloys such as steel. Steel is widely utilized as a structural material, and is strong and flexible. It is used in construction & buildings, automobile, marine, cosmetics, and other end-use industries. Titanium has low density, as compared to steel, and has good mechanical strength. It is abundantly employed in the paints & coating industry in the form of white pigments.

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In terms of end-use industries, the transition metals market can be segmented into construction & building, automotive, marine, electronics, paints & coatings, consumer goods, and others. Transition metals are extremely versatile elements, and have potential to be utilized in various applications. In terms of versatility, they are malleable and ductile, which make them ideal materials in the manufacture of metal-based products. This, in turn, is anticipated to boost the demand for transition metals in the automotive and marine industries. Transition metals are also utilized in wires and cables as they are good conductors of heat and electricity, thus covering a wide scope of applications in many industries. Increasing demand for versatile and adaptable metals in the construction, medical, electrical and automotive industries is projected to fuel the global transition metals market.

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