The Global Titanium Dioxide Market is anticipated to reach USD 21.41 BN by 2025 as per the market study published by a re-known market research firm – Value Market Research. It was valued at USD 16.05 BN (by revenue) in 2018. The titanium oxide market CAGR is expected to be close to 4.2% between 2019 and 2025. The firm foresees that the market will experience significant growth over the forecast period owing to rising demand across various end-user industries.
The report suggests titanium dioxide market is likely to benefit from paint & coating industry owing to the increase in paint & coating applications across automobile, building & construction, etc. Rapid growth in the automotive industry, especially in lightweight automobiles, has significantly raised the demand for paints & coatings, which in turn is presumed to propel the product demand over the forecast timeline. The market is also likely to gain benefit from huge demand across cosmetic industry where titanium dioxide is used to smooth texture to the skin care products. It is also used as a thickener and pigment for sunscreen products owing to its excellent transparency and UV absorption characteristics. Various, developing nations have witnessed the growing demand for lightweight vehicles over the past few years which is exhibiting a promising trend for the market. Additionally, increasing utilization of titanium dioxide as a pigment in pharmaceutical products such as tablet coatings and gelatins is also expected to spur the product demand. Moreover, titanium dioxide product also has application in photocatalyst as it helps to enhance the efficiency of electrolytically splitting water into hydrogen and oxygen, and it can generate electricity in nanoparticles form. Applications include LED, LCD and electrodes for plasma displays. Therefore, the rising production of such electronic goods is also expected to augment market growth. Furthermore, rising awareness regarding physical and chemical properties of titanium dioxide among consumers is also projected to drive the market growth over the study period. On the other hand, high cost and carcinogenic property of the product is likely to limit market growth.
The report “Global Titanium Dioxide Market Report By Applications (Paints And Coatings, Plastic, Paper, and Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2018-2025" analyze and forecast the market size in terms of value and volume. The report also identifies and analyzes the profiles of major players involved in the market.
Titanium dioxide is an inorganic bright white crystalline compound made up of ilmenite and rutile, which are used as the main raw materials. It is produced by using either the chloride process or sulfate process. It is non-reactive & non-toxic in nature and has lustrous properties which enhance the luminous properties of numerous material. In addition to these properties, titanium dioxide also possesses good thermal stability, better resistance to ultraviolet degradation & chemical attacks. Additionally, it also offers whiteness, durability, opacity, and brightness to appliances. Titanium dioxide has extensive application across paint and coating where it is used as a white pigment which scatters visible light resulting in opaque color and gives reflective, bright quality when applied to a surface. The product is also used as a dispersive agent in automotive coatings. Further, the product also has wide application in coatings of photovoltaic cells as a photoactive material, owing to their efficiency in improving the performance of dye-based cells. Titanium dioxide has myriad application across paint & coating, cosmetics, paper & pulp, plastics & rubber, chemical reaction, textile, etc.
The market of titanium dioxide has been segmented on the basis of application and region. Application area covers paints and coatings, plastic, paper, and others. Among which, paints and coatings segment is accounted for the highest share in the market owing to the rising demand from automotive and construction industry. Geographical assessment has been done across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. At present, Asia-Pacific is dominating the global titanium dioxide market owing to the rising construction activities coupled with the strong growth in the automotive industry is driving the product demand in the region.
The Report Segments Global Titanium Dioxide Market -
Players Profiled In The Report:
Argex Titanium Inc., Cristal, Evonik Industries AG, Huntsman Corporation, The Kish Company, Inc., Kronos Worldwide, Inc., Tayca Corporation, The Chemours Company and Tronox Limited.
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