Press release
Titanium Dioxide Market to Sustain Worth of USD 37.08 Billion by 2031
Titanium Dioxide Market
[https://www.skyquestt.com/report/titanium-dioxide-market] was valued at USD 22.13 billion in 2023 to USD 37.08 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031). The titanium dioxide market is expected to grow in the coming years as investments in chlorinated manufacturing methods will increase and the overall building sector globally flourishes. TiO2 is utilized overwhelmingly in paints and coatings. Most of the end-use applications, automotive coatings, aircraft coatings, marine coatings and architectural & decorative coatings, are using TiO2 with other colored pigments. Higher construction activity is benefiting the paints and coatings industry, thus driving demand for TiO2.
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Impact of TiO2 on the Rubber and Plastics Sector
The uptrend in the consumption of TiO2 as pigments in paints and coatings, printing inks, textiles, rubbers, and other products is driving the market. The introduction of new technologies has enabled the adoption of TiO2 for screen printing, metal decorative inks, and lamination, thereby opening new growth opportunities for printing inks. As fuel efficiency increases, demand for lightweight automobiles is predicted to grow; meanwhile, this mineral is applied in most kinds of plastic-based auto components, such as the outer part of an automobile, the bumper, and the inner part. This is because of the properties it presents, such as strength, chemical resistance, and scratch resistance, which are in higher demand with regard to its applications in different end-use sectors like rubber, textiles, plastics, and cosmetics. It is used to coat rubber and plastics and color cloth.
For instance, at the Middle East Coatings Show held in Dubai in September 2021, a line of high-performance titanium dioxide pigments for coatings and inks was covered by LB Group. It is anticipated that architectural coatings will require titanium BILLION BLR-995 pigment because the building sector in the Middle East is extremely famous for architectural designs.
Collaborative Approaches in Titanium Dioxide Market
Companies in the market are constantly implementing various growth strategies to continue enjoying their competitive advantages. Innovations, merger & acquisition, partnership, and collaborations have been introduced by such companies to survive in the highly competitive market scenario. In addition, the major participants in the market are engaged in R&D activities to provide the industry with the most efficient and cost-effective solutions. There are many firms that adhere to the work processes, and firms such as Tronox Corp., Kronos Worldwide Inc., Travancore are involved in titanium dioxide production and raw materials extraction fuel the growth of the global market.
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Strategic Moves Taken by Key Players
In 2023, Chemours, a multinational chemical firm, announced that it would close its manufacturing plant for titanium dioxide in Taiwan. The decision to close the facility is part of a program initiated by Chemours in efforts to upgrade the profitability of its Titanium Technologies (TT) division. In this division is its product Ti-Pure titanium dioxide, a famous product of Chemours.
In 2022, LB Group erected a new 200ktpa TiO2 pigment finishing factory at the Xiangyang site, based on investment by LB Group amounting to CNY 1 billion or USD 157.6 million. Two TiO2 pigment finishing lines with an aggregate processing capacity of 100 ktpa of TiO2 pigment intermediate product will be built.
In 2021, Venator Materials PLC announced it raised its global prices on all of its titanium dioxide pigments used in paper, inks, coatings, and plastics.
Titanium Dioxide Market Segmental Analysis:
Grade
Rutile
Anatase
Process
Chloride
Sulphate
Application
Paints
Coatings
Plastics
Pulp & paper
Cosmetics
Others
End User
Automotive
Construction industry
Pharmaceutical
Others
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Titanium Dioxide Industry Top Player's Company Profile
Chemours Company
Tronox Holdings plc
Venator Materials PLC
Kronos Worldwide, Inc.
Cristal
Tayca Corporation
Lomon Billions Group Co. Ltd.
Iluka Resources Limited
Henan Billions Chemicals Co., Ltd.
Shandong Doguide Group Co., Ltd.
CNNC Hua Yuan Titanium Dioxide Co., Ltd.
Yunnan Dahutong Industry & Trading Co., Ltd.
Pangang Group Vanadium Titanium & Resources Co., Ltd.
Grupa Azoty S.A.
Precheza a.s.
Shandong Dawn Polymer Co., Ltd.
Shandong Jinhai Titanium Resources Technology Co., Ltd.
Shandong Dongjia Group Co., Ltd.
Shaanxi Non-ferrous Tian Hong Recourses Co., Ltd.
Anhui Annada Titanium Industry Co., Ltd.
Adapting to Consumer Demands in Titanium Dioxide Market
TiO2 remains critical, ensuring unrivaled whitening, brightness and opacity, for quality of product and performance, particularly with increasingly demanding end-users. Materials that will be sustainable while manufacturers use environmentally friendly manufacturing processes that lead to innovative cost-effective manufacturing processes. The titanium dioxide market is well positioned for continuous expansion and adaptation and environmental responsibility.
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Media Contact
Company Name: Skyquest Technology
Contact Person: Mr. Jagraj Singh
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=titanium-dioxide-market-to-sustain-worth-of-usd-3708-billion-by-2031]
Phone: +1 351-333-4748
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Country: United States
Website: https://www.skyquestt.com/report/titanium-dioxide-market
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