Stringent governmental regulatory frameworks about CO2 emissions and concerns regarding fuel efficiency have compelled automotive manufacturers to develop lightweight vehicles, thereby propelling the demand for lightweight materials. These lightweight materials are coated with titanium dioxide to increase scratch resistance, durability, persistence, and stability. Thus the increasing demand for lightweight materials is bolstering the growth of titanium dioxide market. According to the International Energy Agency, transportation is responsible for 24% of direct CO2 emissions from fuel combustion as of 2018. The further analysis stated that road transport had a dominant share of nearly 75% of the overall emissions sourced by transport sector that includes air and water transport as well. Such epidemic ecological circumstances have initiated the usage of lightweight materials to decrease the total weight of vehicles, which is a major factor driving the titanium dioxide market growth. Major governmental initiatives and enforcements such as California Air Resources Board Zero-Emission Vehicle Mandate, Federal Emissions Standards by the US Environmental Protection Agency (EPA), and Corporate Average Fuel Economy (CAFÉ)-United States are mandating innovations in the automotive industry to accomplish fuel economy and decrease the share of carbon footprints from the automotive sector. Such developments are eventually bolstering the demand for lightweight automotive fleet, thereby augmenting the global titanium dioxide market size.
The global Titanium Dioxide Market size is evaluated to be $14 billion as of 2018. Moreover, the increasing demand for titanium dioxide from end-user industries across the world is poised to propel the market at a CAGR of 3.72% during the forecast period 2019-2025.
Escalating End-User Industries Enticing Earnings to Titanium Dioxide Market—
Owing to its various applications in end-user industries, the titanium dioxide market is expected to propel at an alluring rate. Titanium dioxide has bright whiteness, protective properties, and UV absorbing nature, which makes it suitable for usage in the cosmetics industry. It is used in sunscreen lotions and creams for effective protection against ultraviolet (UV) radiations. In the paper mill industry, titanium dioxide is used as a filler material in print-based applications such as decorative foils and decor papers. The product, when used in magazine papers makes it more attractive by providing gloss. The photocatalytic activity of the titanium dioxide particles promotes it as a catalyst in semiconductor photocatalysis, water treatment plants, and as a photoactive material in nanocrystalline solar cells. Moreover, titanium dioxide, in the plastics industry, is prominently used for making masterbatches. Thus, the burgeoning end-user industries, globally, are creating growth opportunities for the titanium dioxide market.
Titanium Dioxide Market Leveraging on the Key Application Segment: Construction Industry—
Titanium dioxide, also known as titanium (IV) oxide, is most widely used as a white pigment material (Pigment White 6 (PW6)) in paints and coatings. This attributed to the fact that when incorporated into a coating, it efficiently scatters visible light and thereby imparts whiteness, brightness, aesthetic appeal, durability, and opacity. These pigments ensure the longevity of the paint and the continued protection of the substrate. Titanium dioxide pigment paintings are used to coat buildings and structures to prevent them from being affected by smog. The paints and coatings are experiencing a tremendous demand with the rapid growth in the building and construction sector. The flourishing construction sector across the world is significantly driving the demand for titanium dioxide for painting applications. Thus the construction sector is considered to be the key application segment, and the prospects are poised to propel at a CAGR of 3.26% through to 2025.
APAC Region Creating Growth Avenues for the Titanium Dioxide Market—
Geographically, APAC is considered to be the most lucrative titanium dioxide marketplace with a substantial 35% share in global market demand as of 2018. The key factors responsible for APAC’s dominance are affluent end-user industries, including construction, automotive, cosmetics, and plastics in the emerging economies such as India, China, and Japan. The growing investments in residential and commercial construction in these countries are providing the impetus for the growth of titanium dioxide market in this region. The Civil Aviation Administration of China (CAAC) is planning to complete the construction of 216 new airports by 2035.
Additionally, the Indian Government announced an investment of $60 billion to construct 100 new airports by 2030. These type of governmental initiations is expected to boost the construction industry in this region, thereby propelling the titanium dioxide market. Moreover, the increasing population in India and China is further augmenting the demand in the residential construction industry. Furthermore, the increase in disposable income and the rise in the standard of living has increased awareness towards personal grooming, which consequently expected to propel cosmetic demand in the region and turn to fuel the growth of the titanium dioxide industry. Besides, the booming automotive industry in China and India, coupled with the usage of automotive coatings is catapulting the demand for titanium dioxide. According to the International Organization of Motor Vehicle Manufacturers, in 2018, the total number of vehicles manufactured by China and India were 33 million, and the number is anticipated to grow at an alluring rate in the coming years. Thus, these factors are considered to be the reason for APAC’s dominance and are expected to secure maximum market share during the forecast period.
Titanium Dioxide Market Companies’ Strategies—
The key companies that are continuously adopting intellectual strategies such as new product launch, acquisitions, mergers, collaboration, and partnerships, to consolidate their presence in the titanium dioxide market include Tayca Corporation (Japan), Cabot Corp (U.S.), The Chemours Company (U.S.), Huntsman Corporation (U.S.), Kronos Worldwide Inc. (U.S.), Tronox Limited (U.S.), Evonik Industries AG (Germany), Cristal (Kuwait), Lomon Billions (China), Ishihara Sangyo Kaishal Ltd. (Japan), and Cinkarna Celje (Slovenia). Some of the recent developments are as follows:
· In May 2019, BASF Color Solutions Germany GmbH has developed a low abrasion anatase titanium dioxide batch for the white pigmentation of polyamide yarns. This is intended to decrease stress on yarn guiding elements and the wear of the cutting tools.
· In April 2019, The Chemours Company launched an online portal, Ti-Pure Flex, which is intended to provide a flexible approach for purchasing Ti-Pure brand titanium dioxide. This e-commerce portal enables customers to purchase titanium dioxide round the clock and facilitates quick order placement.
· In September 2016, Huntsman Corporation launched a high purity grade titanium dioxide pigment, HOMBITAN AFDC 101. This new pigment is mainly used in cosmetics applications such as premium foundations, eye shadows, face powders, and lipsticks, as it enhances the opacity of the products. This pigment is also suitable for use in aqueous systems, such as creams that use water as a wetting agent.
Talk to one of our sales representative about the full report by providing your details in the link below:
a) Titanium Dioxide Nanomaterials Market
b) Rutile Market
Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.
To request for a quote, provide your details in the below link:
Mr. Venkat Reddy
Email: [email protected]
Contact Sales: +1-614-588-8538 (Ext-101)
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.