- Increasing utilization of titanium dioxide as an opacifying and bleaching agent in porcelain enamels is expected to boost the global market
- Higher spending on infrastructure in developing nations is likely to fuel demand for decorative and architectural coatings, which is anticipated to propel the market
WILMINGTON, Del., Nov. 22, 2022 /PRNewswire/ — In 2020, the value of Global Titanium Dioxide Market stood at US$ 15.2 Bn. The global market is expected to rise at 3.7% CAGR during the forecast period, from 2021 to 2031. The global Titanium Dioxide Market is being driven by rising uses of titanium dioxide in several end-use sectors, including plastic, paper, and paints & coatings, and so on. The rise of the paints and coatings sector is being influenced by higher disposable income and rapid urbanization, which is anticipated to emerge as one of the important driving factors for Titanium Dioxide Market.
Technological developments in the automotive, wood, and industrial industries are expected to foster market expansion. In order to outperform rivals, firms in the global Titanium Dioxide Market are expatiating the pace of product development and maximizing revenue potential. The global demand of Titanium Dioxide Market is also expected to expand due to low cost of titanium dioxide and its many uses.
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Key Findings of Market Report
- The use of titanium dioxide is rising across a range of end-use sectors, including plastic, paper, paints & coatings, and so on. This is likely to present companies with immense growth prospects. The absorbent titanium dioxide has no smell. It is frequently used as a pigment to add whiteness and opacity. In addition, owing to its hardness, brightness, and acid resistance, it is employed in the form of a bleaching agent in porcelain enamels.
- Coatings for buildings, ships, furniture, home appliances, toys, and other items are made with titanium dioxide. High heat stability and low solubility are two characteristics of this white, solid, inorganic substance. The white pigment component most frequently used in paints and coatings is titanium dioxide. When added to a coating, it effectively scatters visible light, resulting in the addition of opacity, brightness, and whiteness. It is ideal for use in the paints and coatings industry due to these factors.
- In addition, titanium dioxide is also used in architectural coatings and paints. Titanium dioxide provides a fantastic, long-lasting coating that can withstand UV rays.
Global Titanium Dioxide Market: Growth Drivers
- Consumers with high discretionary income have more spending power and a higher level of living. These factors are likely to fuel desire for home renovations including house remodeling and interior design, which in turn is expected to stimulate demand for decorative coatings and paints. As a result, the market for titanium dioxide in the construction industry is likely to grow at a rapid pace during the forecast period.
- Companies in Titanium Dioxide Market are concentrating on new innovation and product development to increase their total market share in both regional and international markets. In order to stand out in a competitive market for titanium dioxide, firms are expanding their product offerings. The advent of novel technologies and breakthroughs in product development have presented market participants with prospective economic gain.
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Global Titanium Dioxide Market: Regional Landscape
- The global market for titanium dioxide is anticipated to be dominated by Asia Pacific region. The region is expected to account for a significant Titanium Dioxide Market share. Prominent market participants with operations in both India and China are becoming more ubiquitous. Market players are concentrating more on expanding possibilities due to rising demand from several end-use sectors, including paper, plastic, and paints & coatings.
Global Titanium Dioxide Market: Key Competitors
- Kilburn Chemicals Limited
- Huntsman International LLC
- The Chemours Company
- Evonik Industries AG
- CINKARNA Celje d.d.
- Grupa Azoty Police
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Global Titanium Dioxide Market: Segmentation
Application
- Paints & Coatings
- Plastic
- Paper
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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