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Global Titanium Dioxide Market Estimated to Increase USD 17.00 Billion by 2020
Titanium Dioxide Market
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Titanium dioxide is a white crystalline powder that is made up of ilmenite and rutile as main raw materials. Moreover, titanium dioxide is created from either chloride process or sulfuric acid referred to as the sulfate process. Other compounds that may be organic and inorganic in nature can even be added with titanium dioxide to impart completely different tints. It is abundantly used as a white pigment in paints and coatings applications.
Increasing demand for the lightweight vehicles as it offers the fuel efficiency and the less smoke is a driving factor of titanium dioxide market. Demand of automobile in North America and Europe exploit the paints and coating industry. Moreover, factor that can hamper the growth of the titanium dioxide market is the production of the destructive solid and the acid wastes during the production phase of titanium dioxide from the raw materials. Therefore, to control the wastage level of titanium dioxide many regulations are being practiced worldwide.
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Key applications involved in the global titanium dioxide market are paints & coating, plastics industry, paper industry and others (artificial fibers, inks). In 2014, the paints & coating was leading segment of the titanium dioxide market. Owing to increased construction industry makes this region as prolong dominating segment. As titanium dioxide exhibit excellent attributes it is primarily used for paint industry and further expected to booster the market demand.
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Asia Pacific held as leading region for titanium dioxide market and accounted for over 40% of the total share of the market, in 2014. In addition, it estimated to remain prolong regional market owing to highest demand for titanium dioxide. It is one of the fastest growing regions due to the emerging economies like China and India. North America and Europe are also projected to have promising market for titanium dioxide.
Some of the key players in the global titanium dioxide market include Chemours Company, CRISTAL, Kronos Worldwide INC., DuPont, Huntsman, Evonik, Argex Titanium Inc, Pangang Group Vanadium Titanium & Resources Co., Ltd., Yunnan Dahutong Industry & Trading Co., Ltd and Tronox limited.
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