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Titanium Dioxide Market Trends, Development, Share And Forecast By 2023
Titanium Dioxide Market, Titanium Dioxide Market Growth, Titanium Dioxide Market Trends, Titanium Dioxide Market Forecast,
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Titanium dioxide, also known as titanium (IV) oxide or titania, is a white crystalline powder, made up of ilmenite and rutile, which are used as the main raw materials. It is created using either the chloride process or sulfuric acid, referred to as the sulfate process. Titanium dioxide is extensively used as a white pigment in paints and coatings application. Also, it has a wide range of applications, ranging from paints and sunscreens to food coloring.
Asia-Pacific is expected to witness the fastest growth in the global market, during the forecast period. Growing consumption of paints and coatings, which constitutes titanium dioxide as its key component, is driving the growth of global titanium dioxide market.
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Additionally, expansion of the automotive industry in the Asia-Pacific region and growing investment in construction and infrastructure industry are supporting further growth in the market. Moreover, increasing disposable income and rise in livings standards have increased awareness towards personal grooming, which in turn is expected to propel cosmetic demand in the region and in turn fueling the growth of the titanium dioxide industry.
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