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Overview
Titanium Dioxide Market is forecast to reach $25.3 billion by 2025, after growing at a CAGR of 7.9% during 2020-2025. Rising demand for lightweight vehicles in order to reduce carbon emissions leads the market growth in upcoming years. Therefore, to maintain the efficiency of fuel and to enhance safety, the growing usage of lightweight materials is expected to enhance the positive impact on the titanium dioxide industry over the forecast period. The lightweight materials, when coated with titanium dioxide, increase the stability, durability, persistence, and scratch resistance. Titanium dioxide, also known as titanium(IV) oxide or titania, is the naturally occurring oxide of titanium, chemical formula TiO?. Titanium tetrachloride is the inorganic compound with the formula TiCl?. It is an important intermediate in the production of titanium metal and the pigment titanium dioxide
Report Coverage
The report: “Titanium Dioxide Market – Forecast (2020-2025)”, by IndustryARC, covers
an in-depth analysis of the following segments of the Titanium Dioxide Market.
Key Takeaways
- Mining and metallurgy industries dominating the market in 2019, and with continuous growth in mining operations, it is likely to grow during the forecast period. Increasing demand from the mining industry and rising use in polymer synthesis are the major factors driving market growth. On the flipside, titanium dioxide toxicity hinders market growth.
- During the forecast period, the increasing demand for downstream items of titanium dioxide and natural colors in the textile industry is expected to provide opportunities for the studied market.
- Due to the region's rising mining operations, Asia-Pacific dominated the market worldwide, and strong demand fueled the development of polymer synthesis and chemical industries.
By Grade - Segment Analysis
Due to its flexible properties
such as lower specific gravity, higher refractive index, and greater chemical
stability, the rutile category accounted for a significant share of the
titanium dioxide market in 2019. For the most important applications of titanium
dioxide, it is preferred. The class of anatase is predicted to be the fastest
CAGR in the future. Titanium dioxide anatase quality is an excellent material
for paper production because it is less abrasive for paper machinery.
By Application - Segment Analysis
The product division for Paints
& Coatings dominated the industry in 2019 and is expected to grow with 7.5% over the forecast period. Thanks to its durability and
clarity, TiO2 is widely used in automotive paints. It is also ideal for
pigments in automobiles due to its high refractive index. Titanium dioxide,
used in the paper mill industry as a filler material, has a wide range of
applications for decorative foils, decorative papers and other print-based
applications. The material used in magazine papers makes it more attractive by
offering lipstick. The expanded use by papermakers of fillers is projected to
boost the growth of the segment over the forecast period. Increasing
infrastructure development spending in emerging countries has been a dominant
factor driving demand for anticorrosion coatings, which is projected to drive
market growth. It is also expected that increased use of the product as a
whitening agent on the redecoration market will contribute to the growth of the
industry over the forecast period.
Geography - Segment Analysis
It is anticipated that Asia Pacific is expected to be the
largest market with the 38% share in 2019. Growing commercial and residential
construction sectors, coupled with increasing investment in the region's
infrastructure development, are expected to increase TiO2 demand. The region's
growing demand for lightweight and electric vehicles (EVs) is expected to
further boost market growth. According to OICA figures, for the period 2017 to
2018, the regional market experienced a rise of more than 3.1 million in
automotive demand. On the other side, the growing demand for paints &
coatings from the region's construction sector is expected to fuel the
industry.
Drivers – Titanium Dioxide Market
·
Development of titanium
dioxide is increasing the car production.
Titanium oxide
have increased the choices of colors in automotive industry. Since the use of
lead oxide in paints has been widely banned over the past decades, pigment
grade TiO2 has become the most common white pigment used in paints worldwide. As
the whitest and brightest of all known pigments, TiO2 gives a unique brightness
and resilience to all sorts of vehicles, finding its way onto cars, trucks,
busses, cruise ships, trains and airplanes. One of TiO2’s many dazzling
qualities is its incredibly high refractive index, even beating diamond
reflectivity, which puts it in a league of its own when it comes to pigment
brightness. TiO2 is manufactured with a controlled primary particle size to optimize
the scattering of visible light when used in a paint. This scattering of light
on contact allows vehicles to be painted in the full visible color spectrum. In
upcoming years, the new innovation of titanium dioxide for the protection from
UV-light have increased the demand across automotive industries, which have
increased the market growth.
Market Landscape
Technology launches, acquisitions and R&D
activities are key strategies adopted by players in the Titanium Dioxide
market. In 2019, the market of Titanium Dioxide has been consolidated by the
top five players accounting for xx% of the share. Titanium Dioxide top
10 companies are Huntsman International, The Chemours Company, Kronos
Worldwide, Jianghu Titanium White, Argex Titanium, Dow Chemical Company,
Evonik, Titanos Group, Henan Billions Chemicals, Tayca Corporation, Cristal,
and Tronox, among others.