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Australia Titanium Dioxide Market to Value US$ 87.3 Mn in 2016, Western Australia Leading Region
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Shifting consumer preferences, especially in emerging economies such as India and China is expected to boost the paints and coatings industry which in-turn is anticipated to boost the titanium dioxide market. Also, rising demand for housing and automobiles and growing household disposable incomes in Australia are drivers in the Australia titanium dioxide market. Titanium dioxide finds major application in the manufacturing of solar panels. But titanium dioxide is being actively substituted with silica, combined with the global economic slowdown are major restraints in the Australian market.
In terms of product type, the market is segmented into pigments and non-pigments. The pigments segment is the leading segment, accounting for the maximum share in the market in terms of value and volume. The segment is expected to continue its dominating trend through the forecast period.
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In terms of application, the Australian market is segmented into dyes and paints, plastics and rubber, paper, pure titanium metal and welding rods, and others. The dyes and paints segment is the leading segment, estimated to reach the value of US$ 81.9 Mn at the end of 2016, increasing at the rate of 5.1% over the previous year. The segment is expected to account to over 63% at the end of 2024.
In terms of mineral grade, the market is segmented into ilmenite grade, rutile grade, and others. Ilmenite grade is the leading segment with 96% share in terms of revenue in 2015, owing to higher demand and cheaper prices as compared to other grades. The segment is projected to dominate the Australian market with 60.5% share in 2024.
In terms of region, the market is segmented into New South Wales, Victoria, Queensland, Western Australia, and rest of Australia. Western Australia is the leading market, estimated to reach the value of US$ 36.63 Mn at the end of 2016, rising at a CAGR of 4.1% through the forecast period. Western Australia is followed by Victoria, accounting for 23% volume share in 2015. Queensland, New South Wales, and Western Australia are projected to register momentous CAGR through the forecast period, in terms of value.
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Key players in the Australia titanium dioxide market are Tronox Limited, Iluka Resource Limited, and Cristal Australia Pty Ltd. Companies are focusing towards low operational costs and higher efficiency through investment in newer technologies. The companies are working towards easy recovery and lowering wastage in the manufacturing process.
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