According to a new research report by Global Market Insights Inc., the Titanium Dioxide Market size is estimated to surpass USD 27 billion by 2026.
Advent of self-cleaning technology in various industries propels the product demand
Titanium dioxide is known for its self-cleaning properties which enable its usage in numerous industries. It is widely used in the construction industry for application in building facade maintenance, panels and windows, self-cleaning concrete, and skyscraper windows owing to its strong oxidizing properties.
Moreover, it is used in electronic products such as smartphones and photovoltaic modules by preventing the growth of bacteria. Also, it is extensively used in textile products such as self-cleaning cotton and coated fabric wherein it acts as a water repellent. Thus, widespread application of the self-cleaning property of titanium dioxide is expected to augment product consumption.
Significant R&D investments in the field of self-cleaning fabrics are further expected to provide the potential for this novel material in the coming years. For instance, researchers and scientists are putting in efforts to manufacture self-cleaning fabrics, further creating an upsurge in the global market. Also, increasing the use of sanitary products and disinfectants is likely to further propel the demand for titanium dioxide during the assessment period.
Browse key industry insights spread across 297 pages with 382 market data tables & 31 figures & charts from the report, “Titanium Dioxide Market share By Process (Sulfate, Chloride), By Grade (Rutile, Anatase), By Product (Pigmentary, Ultrafine), By Application (Food, Paints & Coatings, Paper & Pulp, Textiles, Plastics & Rubber, Cosmetics, Printing Inks), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026” in detail along with the table of contents:
The chloride process segment is expected to register the highest CAGR over 5.5% in terms of volume during the forecast period. This is largely attributed to the less wastage produced compared to the sulfate process. Thus, it is significantly gaining popularity in the developed nations on account of stringent environmental norms.
The anatase grade will be generating more than $4 billion by 2026. It is relatively less popular than rutile grade as it can be manufactured only by sulfate process, which produces more waste. This grade is suitable for low-end applications in various industries as well as is gaining popularity in paints & coatings application. Thus, proliferating paints & coatings industry worldwide is likely to propel the titanium dioxide market growth.
The pigmentary segment is expected to grow at a healthy CAGR above 7% during the forecast timeline. This product has a particle size of more than 100 nanometers and comprises of more than 80% of TiO2. It finds widespread usage in powder coatings, carton paper coatings, wallpaper paints, and dispersion paints. Bolstering paints & coatings sector across the globe spurs the titanium dioxide market value.
The plastics & rubber segment is estimated to grow at a significant CAGR of almost 8%, in the projection period. This is mainly attributed to the augmenting the product demand as a supplement in the applications of indoor plastic, polycarbonate-PET blends, ABS resin, etc. The rising production of plastic products in China is a key factor fueling the regional titanium dioxide market growth.
Europe is likely to offer lucrative opportunities for the product in the forecast timespan
The European region is estimated to register more than $6 billion during the review period. This is largely attributed to the upsurge in paints & coatings demand in the region. Also, an increasing number of automobile manufacturing will drive the titanium dioxide market share in the coming years. Expanding infrastructural developments in Hungary, Sweden, and Germany, among others.
Manufacturers focusing on acquisitions and product launches to gain competitive edge
Some of the key product manufacturers participating in the titanium dioxide industry are Chemours, Lomon Billions, Shanghai Jianghu Titanium White Product, Tronox, Argex Titanium, Venator Material, and GRUPA AZOTY.
Key strategies implemented by these market players include acquisitions, expansion, product launches, agreements, and many more. For instance, in April 2019, Tronox Holdings Ltd. acquired The National Titanium Dioxide Company Limited’s (“Cristal”) titanium dioxide business.
Explore More on Related Topics: