Press release
Global Titanium Dioxide Market is required to achieve USD 44.954 billion by 2023 with a CAGR of 14.28%
Titanium Dioxide Market
Titanium Dioxide (TiO2) Global Market – Overview
Titanium dioxide (TiO2), also known as Titanium (IV) oxide or Titania, is a naturally occurring oxide of titanium, which after processing, exists as white, powdery solid. Titanium dioxide (TiO2)used as a bright white pigment for paint, varnishes, paper, and plastics. TiO2 is also used in the food industry as a coloring agent or in sunscreens and cosmetics. Alongside this, Titanium dioxide plays an integral role in the production of glass, ceramics, and catalysts and in other industrial uses.
According to a recent study report published by the Market Research Future, the Global Titanium Dioxide is expected to witness a significant growth of USD ~ 44.954 billion by 2023 with a phenomenal rate of CAGR of ~14.28% during 2016 and 2023. It has been predicted that the global market volume to reach by Millions of Tons by 2023.
The global titanium dioxide market has experienced a significant growth in the recent year and it has been analyzed that the growth rate will continue to boost the market. The key driving factors which have augmented the growth are raising demand of titanium dioxide from the end use industries such as paint & coating, cosmetic, plastics and others. Alongside this, titanium dioxide plays an integral role in manufacturing and production of white pigment. As per the estimation there is about 4.5 million tons of pigment are used annually across the globe. Owing to this factor, the demand of titanium dioxide has increased on a higher rate, , states the MRFR Research Analyst while commenting upon this deep diving study report, presented through more than 100 market data tables and figures, widely spread over 140 pages.
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Titanium Dioxide (TiO2) Global Market – Key Players
With just four major players comprising for about half of the total production volumes, the global titanium dioxide Market appears to be highly composed and moderately consolidated. In 2014, the market demand for titanium dioxide was recorded as low, resulting further in consolidation among the Major producers. Other factors that came into the picture were that China emerged as a major producer of Titanium dioxide with increasing supply while a low demand due to the slowdown in China construction Market. However post 2014; an expansion is being witnessed in the construction industry sectors, which has served as a major factor that is bolstering demand for titanium dioxide.
Identified and profiled in MRFR analysis; the leading market players in the global titanium dioxide market mainly include
• DuPont (US)
• Tronox Limited (US)
• CRISTAL (Saudi Arabia)
• The Chemours Company Chemours (US)
• NL Industries Inc. (US)
• Shandong Doguide Group Co. Ltd (China)
Other prominent players of TiO2 market include
• Argex Titanium Inc. (North America)
• Huntsman International LLC. (US)
• Evonik Industries (Germany)
• Tayca Corporation (Japan)
Titanium Dioxide (TiO2) Global Market – Segmentation
The Global Titanium dioxide market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
• Segmentation by Application: Comprises Paints, Coatings Plastics, Photo-electrode, Pigment, Paper, Cosmetics, Food Additives
• Segmentation by End User: Comprises Automotive, Personal Care, Pharmaceutical, Food & Beverages, Construction Industry
• Segmentation on the basis of Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World
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Titanium Dioxide (TiO2) Global Market – Synopsis & Scenario
Stringent automobile emission control norms worldwide and concerns regarding fuel efficiency have compelled manufacturers to take measures for reducing vehicle weight considerably, thereby propelling demand for lightweight vehicles. One method of reducing vehicle weight is incorporating polycarbonates as replacement for part of the steel structures used in auto manufacturing. However, polycarbonates suffer from some drawbacks, such as low scratch resistance, which brings titanium dioxide into play. This material is used for coating polycarbonate structures that are further utilized in the auto manufacturing process. Using polycarbonates enables in reducing the weight of a vehicle and consequently enhancing fuel efficiency. Other applications of titanium dioxide in plastics include improving color, strength and opacity.
Titanium Dioxide (TiO2) Market – Regional Analysis
Asia Pacific Titanium dioxide market is largest market owing to robust industry growth of application industry in China, Japan and India. Asia Pacific titanium dioxide market size is likely to witness highest gains over the forecast period. Positive stance on end-use industries such as automotive and construction industry, and others in countries like China & India is predict to drive demand.
Europe holds the second position in global titanium dioxide market due global volume share and will witness growth on account of rising need for cosmetic products in Germany, Italy, France and UK. Urbanization, higher spending power and growing awareness regarding appearance and grooming are expected to propel cosmetic industry in the region thereby driving the industry over the forecast period.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
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