According to ChemAnalyst report, “Titanium Dioxide Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030”, Titanium Dioxide market has grown significantly in the historic period and is expected to achieve a very impressive CAGR of 7.35% in the forecast period until 2030. Growing demand of Titanium Dioxide in the automotive and construction sector coupled with increasing need of pigments in various end-use industries including personal care, pharmaceutical, construction, automotive, and others is expected to accelerate the market of Titanium dioxide across the globe in upcoming years.
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Titanium Dioxide with a chemical formula (TiO2 ) is a natural occurring metal element. It is basically an Oxide of Titanium which is present in three forms anatase, rutile, and brookite. Titanium Oxide has high refractive index (RI) due to which it finds application in most of the areas where white colour or gloss is required. As Titanium Dioxide is considered safe and an inert material, it is used in numerous Industrial and commercial applications including paints and coatings, plastics and rubber, adhesives, paper, printing inks, coated fabrics and textiles, ceramics, floor coverings, roofing materials, cosmetics, toothpaste, soap, water treatment agents and others. Due to various novel and useful properties of Titanium Dioxide, TiO2 nanoparticles have increasingly manufactured and used in the development of nanotechnologies.
Global Titanium Dioxide Market is segmented based on application, end use, distribution channel and region. On the basis of Application, the global Titanium Dioxide market is segmented into Paints, Coatings, Plastics, Pigment, Pulp and Paper, Cosmetics, Photoelectrode and others. The paint and coating industry dominated the global market for Titanium Dioxide in 2020 and is expected to maintain its dominance in the coming years. The dominance of the Paints and coatings segment is due to increased use of TiO2 for architectural coatings, protective coatings, general industrial finishes, powder coatings, waterborne paints, and other coatings. It is extensively used as a white pigment material in the paints and coatings industry. It scatters visible light, hence, imparts whiteness, brightness, and opacity when incorporated into a coating, which makes it widely used in the paint and coating industry.
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The global Titanium Dioxide market based on end-use is segregated into Building and Construction, Automotive, Personal Care, Pharmaceutical, Food and Beverages, and others. Among which, the construction and automotive are the most thriving sectors due to increased demand of Nanoparticles of Titanium Dioxide in the construction of residential and non-residential infrastructures in developing economies, which will further propel the overall demand of Titanium Dioxide until 2030. The use of ultrafine nanoparticles of Titanium Dioxide in the cosmetics industry, for various applications such as creams, loose and pressed powders, eyeshadows, blush, and sunscreens as it provides better protection against harmful sun UV rays, and brightness, is likely to augment the growth of Titanium Dioxide market.
In 2020, Due to the spread of COVID-19, Global Titanium dioxide market was negatively affected due to the lockdowns and restrictions proposed by the leading authorities to curb the spreading of the coronavirus. In the first half of 2020, there was a sudden decline in the demand of Titanium Dioxide from the construction and automotive segments. Construction and automotive industries were among the most affected industries during the pandemic. However, increasing demand of Titanium Dioxide from the paints and coatings industry is the expected to drive the market growth in upcoming years.
Region wise, APAC Region is holding the major share of the global Titanium Dioxide market due to increasing demand of application areas including paints and coatings, plastics, cosmetics, construction and automotive. Moreover, increasing population and per capita income is another factor augmenting demand growth in the APAC region. A substantial increase in the housing construction activities in emerging economies of Asia-Pacific including China and India along with the electric vehicle production and sales, are boosting the paints and coatings market, further propelling the demand of Titanium Dioxide.
According to ChemAnalyst report, “Titanium Dioxide Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030”, some of the major players operating in Titanium Dioxide market include DuPont, Tronox Limited, The Chemours Company Chemours, NL Industries, Inc, Shandong Doguide Group Co., Ltd, Argex Titanium Inc., Huntsman International LLC., Evonik Industries, Tayca Corporation, and Others.
“An exponential rise in the demand of Titanium Oxide for various applications including paints, coatings, plastics, pigment, pulp and paper, cosmetics and others is expected to accelerate the global Titanium Dioxide market along with an impressive CAGR in the next ten years. Demand of Titanium Dioxide in construction sector and lightweight vehicle across the globe will further propel the market growth in upcoming years. Due to rising construction activities across major global economies including China and India will further drive the demand of Titanium Oxide, boosting the global market of Titanium Oxide. As competitors are emerging across the Titanium Dioxide market, it is extremely important to notice that which region will grab the biggest market share in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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