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
The report: “Titanium Dioxide Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Titanium Dioxide Market.
- 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.
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.