Global Titanium Dioxide Market is valued at USD 16.64 Billion in 2019 and expected to reach USD 27.009 Billion by 2025 with the CAGR of 7.16% over the forecast period.
Increased use of titanium dioxide in different industrial sector is driving the growth of titanium dioxide market.
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Scope of the Global Titanium Dioxide Market Report:
Titanium Dioxide, is the naturally occurring oxide of titanium, whose chemical formula is TiO. It is also called titanium white or pigment white, when used as a pigment. It is mainly extracted from ilmenite, rutile and anatase. It is used in different industries such as paint, sunscreen and food coloring. Other than that it is used in other applications, for example in the production of technical pure titanium, glass and glass ceramics, electrical ceramics, metal patinas, catalysts, electric conductors, and chemical intermediates.
Some major key players for global titanium dioxide market are The Chemours Company, Tronox Limited, Cristal, NL Industries Inc., Huntsman Corporation, Argex Titanium Inc., Tayca Corporation, Evonik Industries, Lanka Mineral Sands Limited, Alchemy Heavy Metals Pvt. Ltd., Kish Company Inc, Venator Materials PLC, KRONOS Worldwide, Inc., and others.
The regions covered in this titanium dioxide devices market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of clinical decision support system is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Titanium Dioxide Devices Market Dynamics –
The increasing application of titanium dioxide in paint and coating industry, construction and automotive industry as well as its use in paper & plastic industry is driving the market of titanium dioxide market. It is commonly used as white pigment material in paints and coating industry due to its brightness and high refractive index. It is estimated that in two-thirds of all pigments titanium Dioxide is used. The wide use of TiO2 can be known from the fact that about 4.6 million tons of pigmentary TiO2 is used worldwide and is expected to increase in the forecast period. It is applied as a pigment to give whiteness and opacity to products such as paints, coating, plastics, papers, inks, foods, medicines and toothpastes which helps in driving the growth of the market. Additionally, it is used in refractive optical coating, in creating decorative thin films, sparkly paints, ceramic glazes and cosmetics. The market of TiO2 is mainly depend on paint, varnishes, paper & plastic industry and these industries are accounted for 80% of total TiO2 expenditure. However, its toxic properties such as being flagged as carcinogenic is hampering the market as many countries such as France is considering it to be banned in food and toothpaste industry. Technological improvement aimed at augment manufacturing processes to increase product yield with good quality is expected to create more opportunity for this market.
Global Titanium Dioxide Market Segmentation –
By Product: Rutile, Anatase
By Application: Paints and Coatings, Plastics, Paper and Pulp, Other
Global Titanium Dioxide Market Regional Analysis –
Asia Pacific is dominating the Titanium Dioxide market with largest market share due to booming commercial and residential construction sector, increasing investment in infrastructure development in developing countries such as China, India and Indonesia as well as established chemical industry. For instance, over the previous few years, India paint market increased at a rate of around 15% and is estimated to grow at the same pace in the future which will also help in increasing demand of the titanium Dioxide market. North America is the second dominating market of Titanium Dioxide followed by Europe due to rising demand of lightweight vehicles in the automobile industry of developed countries like US, Germany and France. There is estimation of growth in European Titanium Dioxide market in future due to Chinese TiO2 producers have confronted much more rigorous Government inspection of pollution control at their factories since the beginning of 2016, so that their unit operating costs and pigment selling prices are now much closer to those of their Western counterparts than before. Other than that in central and South America, the demand is increasing due to growing Photovoltaic installation market, government initiatives in R&D and increasing awareness on energy conservation.
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