Titanium Dioxide Market by Application (Paints & coatings, Plastic, Pulp & paper, Cosmetics and Others) - Analysis & Forecast 2019-2030
Report ID : 59 | Published Date : Apr 2019 | Pages : 150 | Region : Global | Report Code : CM-4
Titanium Dioxide Market Overview and Introduction
The global titanium dioxide market was valued at over US$ 14.0 Bn in 2018 and is anticipated to grow at a CAGR of 5.2% from 2019 to 2030.
Titanium dioxide also known as titania or titanium oxide. It is a naturally occurring oxide obtained from rutile, anatase and ilmenite. Titanium dioxide owing to its high stability, anti-corrosive properties and high refractive index is used in broad range of applications. It finds its application in printing inks, packaging, rubber, construction, chemical fibers and water tanks among others. It is extensively use in paints and coatings application. Rising demand from automotive, construction and cosmetics industries is the major factor driving the growth of the market across the globe. However, due to its high prices and carcinogenic properties the market is highly regulated, which in turn, hampers the market growth to certain extent. Increasing usage of titanium dioxide as a material in solar photovoltaic (PV) is providing new avenues to the manufacturers operating in this market. Increasing application horizon of titanium dioxide is also expected to trigger the market growth in the coming years.
Titanium Dioxide Market by Application
From application perspective, paints and coatings segment accounted for the major share of this market in 2018. This segment is anticipated to maintain its dominance over the forecast period as well. Titanium Dioxide is widely used as a white pigment in paints and coatings application. Rising demand for paints and coatings from automotive and construction end use industry is projected to have a positive impact on this market. However, cosmetic segment is projected to witness the highest CAGR over the forecast period. Rising affluence and increasing awareness regarding self-grooming are one of the key factors driving the market for cosmetics. With growing demand of cosmetics, the demand for titanium dioxide is expected to grow concomitantly.
Titanium Dioxide Market by Region
Asia Pacific region stands out as the clear market leader in terms of value and volume and is expected to maintain its leadership position in the coming years. Increasing construction activities along with growing investments in the infrastructure development sector are some of the key factors driving this market in Asia Pacific region. Moreover, growing automotive production is another factor spurring the market growth. India and China are the major countries driving the market growth. North America and European regions are projected to witness substantial growth over the forecast period. North America market is witnessing growth owing to increasing infrastructural activities in US. Moreover, growing demand for PV installations is another factor supporting the market growth in this region. The European market is projected to witness growth owing to growing automotive sector in Germany and France. Rising demand from cosmetic industry is another factor boosting the growth in European market.
Titanium Dioxide Market Prominent Players
Mergers and acquisitions and joint ventures are the two key strategies adopted by the market players to enhance their market presence. Huntsman Corporation, The Chemours Company, Cristal, Tronox Limited, and Kronos Worldwide Inc. are the leading players present in this market. E. I. du Pont de Nemours and Company, Evonik Industries, NL Industries, Inc. and Argex Titanium Inc are some of the other key players present in this market.