Titanium Dioxide Market —
Titanium Dioxide Market Key Players:
Titanium Dioxide Market mainly include: DuPont (US), Tronox Limited (US), CRISTAL (Saudi Arabia), The Chemours Company Chemours (US), NL Industries, Inc (US), and 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), and Others.
Titanium Dioxide 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 colour, strength and opacity.
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Titanium Dioxide Market Introduction:
Titanium Dioxide Market is expected to witness a significant growth of USD 44.954 Billion by 2023 with CAGR of 14.28% between by 2023.
Titanium Dioxide Market is driven by increasing demand for lightweight vehicles, growing global plastic production, surging demand for paints & coatings in construction and other industries. Among these factors increasing demand of lightweight vehicles is expected to have high impact on the global titanium oxide market demand. Owing to stringent regulations on fuel efficiency by governments and regulatory agencies across the globe, manufacturers are focusing on using lightweight materials in the automobile production.
For instance, instead of using metals manufacturers are inclined to use PVC plastics. PVC materials are usually coated with titanium dioxide, to enhance the wear resistance, scratch resistance, and other mechanical properties. As the fuel efficiency standards are getting stringent, expected growing demand for lightweight vehicles will drive the global titanium dioxide market.
Titanium Dioxide Market Application:
Titanium Dioxide Market growth is hampered by stringent regulations on the emissions. The process used for the titanium dioxide production also produces solid waste and hazardous emissions. As there is stringent regulatory framework in place in developed regions, the global titanium dioxide production is anticipated to be hampered.
Titanium Dioxide is prominently used in end-use industries namely, paints & coatings, plastics, varnishes, and paper. Among these paints & coatings is the leading end-use industry, accounting for around 50% of the overall consumption of titanium dioxide. Titanium dioxide is an essential ingredient in paint & coatings, as it enhances opaqueness of paints. Growing paints & coatings market, due to increasing construction activities in Asia-Pacific and other developing regions. Moreover, global plastic production is increasing, due to increasing penetration in various applications namely, consumer goods, automotive, electronics, construction. Titanium dioxide demand is geared with the global plastic production.
Titanium Dioxide Market Segment Analysis:
Titanium Dioxide Market has been segmented into application and end use industries. On the basis of application, the market has been divided into paints, coatings, plastics, photo-electrode, pigment, paper, cosmetics, food additives, and others. Among these applications paints and coatings have cover the largest market followed by plastics, photo-electrode, pigment, paper, cosmetics, food additives, and others.
Titanium Dioxide is the most important white pigment which is used primarily in the coatings industry. It is widely used because it efficiently scatters visible light, thereby imparting whiteness, brightness and opacity when applying into a coating industry. Titanium dioxide used in various type of coating industry such as architectural coating, packaging coating, transportation coating, industrial coating, and others. Above all architectural coating capture the largest titanium dioxide market share followed by industrial coating and packaging coatings.
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Titanium Dioxide 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 predicting to drive demand.
Europe holds the second position in global titanium dioxide market due global volume share and will witness growth because 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. North American hold third position in global titanium dioxide market the consumption has decreased remarkably during the last years, due to the decrease application of coatings consumption. Paint and coatings remains the largest outlet, accounting for highest share of consumption.
Titanium Dioxide Market Competitive Analysis:
Major pigments & specialty pigments manufacturers are engaged in manufacturing and supplying titanium dioxide to various end use industries. The leading companies are competing to increase their footprint in the global titanium dioxide market. Manufacturers are majorly focusing on broadening their specialty pigment portfolio through extending the titanium dioxide product offerings. Moreover, major manufacturers are focusing on increasing the overall market share through acquisition of regional titanium businesses. For instance, Huntsman Corp, in 2014 acquired titanium dioxide business of Rockwood Holdings Inc. in order to acquire leading position.
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