Titanium Dioxide Market To Grow Enormously with Size Worth $28.19 Billion By 2025 |Grand View Research, Inc.



The global titanium dioxide market size is expected to reach USD 28.19 billion by 2025 registering a CAGR of 8.7%, according to a new report by Grand View Research, Inc. Rise in demand for paints & coatings due to expanding construction and automotive sectors across the globe will augment the TiO2 market growth over the forecast period. Growing automotive industry due to technological advancements in the sector coupled with rising demand for lightweight vehicles has also contributed to the industry expansion.
Some of the key manufacturers in the market Tronox Limited; E. I. du Pont de Nemours and Company; The Chemours Company; Cristal; NL Industries, Inc.; Huntsman Corporation; Argex Titanium, Inc.; Tayca Corporation; Evonik Industries; Lanka Mineral Sands Limited; Alchemy Heavy Metals Pvt. Ltd.; Kish Company, Inc.; Venator Materials Corporation; andIshihara Sangyo Kaisha Ltd. These companies focus on regional expansion through various business strategies. For instance, many companies are locating new resources of titanium dioxide through M&A, joint ventures, and partnerships with exploration and mining firms.
Lightweight materials used in the automotive industry contain specific amounts of carbon fiber, which is a cost- and fuel-efficient as it helps reduce the carbon footprint. These materials are malleable, remolded, and reshaped, which results in low-cost production. These factors are expected to boost the market growth in the next few years. The photovoltaic method converts solar energy into direct current electricity using materials, such as TiO2 and amorphous silicon. Energy generated from the solar PV is considered as sustainable energy and renewable source making it cost-effective.
The demand for electricity is increasing rapidly with the rising world population. In developing countries like China, India, Indonesia, and Malaysia, the demand for energy conservation is high due to urbanization and industrialization. Increasing demand for sustainable energy sources is expected to have a positive impact on the market in the next couple of years. Titanium dioxide particles have wide application scope due to their high stability, photocatalytic properties, and anti-corrosive nature and are manufactured from anatase. They are used in consumer products, such as sunscreens, and as components for articulating implants for the hip and knee.
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These nanoparticles are also used as catalyst in semiconductor photocatalysis, water treatment plants, and as a photoactive material in nanocrystalline solar cells. Other applications in self-cleaning tiles, textiles, windows, and anti-fogging car mirrors are expected to support the market growth over the forecast period. However, dust particles of the product are grouped under 2B carcinogens by IRAC. Thus, stringent regulations are projected to have a negative impact on the market growth.
Further key findings from the study suggest:
·         In terms of revenue, paints & coatings is anticipated to be the largest application segment reaching at USD 16.40 billion by 2025
·         On the other hand, the plastics application segment is anticipated to register the highest CAGR of 9.3% from 2019 to 2025
·         Asia Pacific is anticipated to be the largest and fastest-growing regional market over the next few years
·         In terms of revenue, Middle East & Africa is also anticipated to witness a lucrative growth due to rising number of construction projects in the region
·         Some of the key companies in the global titanium dioxide market are Cristal Global; Kronos Worldwide, Inc.; Huntsman Corp.; The Chemours Company; and Tronox Limited
The global titanium dioxide market size was valued at USD 15.76 billion in 2018 and is expected to witness a CAGR of 8.7% from 2019 to 2025. Escalating demand for lightweight vehicles owing to strict emission policies is expected to fuel the market growth over the coming years. Thus, rising usage of lightweight materials for enhanced safety and fuel-efficiency is expected to have a positive impact on the industry over the forecast period. These lightweight materials, when coated with titanium dioxide, increase durability, stability, persistence, and scratch resistance.
The product has an increasing application scope in printing inks, rubber, and chemical fibers. In printing inks, it is used in flexographic, lamination, screen printing, UV-cured, and metal decorative inks. Rapidly expanding construction sector, especially in U.S., is projected to contribute to the product demand in the years to come.
Thus, rising number of residential and non-residential construction projects is augmenting the demand for paints & coatings, thereby boosting overall market growth. In addition, high demand for anti-corrosive architectural coatings in the pigments has increased the demand for titanium dioxide.
The product prices in U.S. are projected to be affected by the demand-supply imbalance in the country Furthermore, natural disasters in Florida and other parts of the country are anticipated to boost the construction market, thereby augmenting the titanium dioxide market growth.
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Paints & coatings application segment led the market in 2018. TiO2 is being increasingly utilized in vehicle paints owing to its resilience and brightness. Also, its high refractive index makes it suitable for pigments in vehicles. Titanium dioxide, which is used as a filler material in the paper mill industry, has wide application scope in decorative foils, decor papers, and various print-based applications. The product used in magazine papers provides gloss making it more attractive. Rising use of fillers by papermakers is expected to fuel the segment growth over the forecast period.
Grand View Research has segmented the global titanium dioxide market on the basis of application :
Titanium Dioxide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·         Paints & coatings
·         Plastic
·         Pulp & Paper
·         Cosmetics
·         Others
Increasing investment for infrastructure development in emerging countries has been a dominant factor driving the demand for anticorrosion coatings, which in turn is expected to spur the market growth. Rising product usage as a whitening agent in the redecoration market is also expected to contribute to the industry growth over the forecast period. In plastics industry, the product is widely used for making masterbatches. However, rise in product prices is projected to increase the utilization of substitutes, such as antimony oxide, zinc oxide, carbonates, and lithopone. This is expected to challenge the market growth over the forecast period.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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