NEW YORK, Sept. 27, 2021 /PRNewswire/ — Reports and Data has published its latest report titled “Titanium Dioxide (TiO2) Market Analysis By Grade (Rutile, Anatase), By Process (Chloride and Sulfate), By Application (Paints and Coatings, Plastics, Pulps and Paper, Cosmetics, Others), and By Region Forecast to 2028.”
According to the latest report by RND, the global titanium dioxide market size was USD 22.10 Billion in 2020 and is expected to reach USD 30.72 Billion in 2028 and register a CAGR of 4.2% during the forecast period, 2021-2028.
Demand for titanium dioxide is increasing for a wide range of industrial and consumer products such as adhesives, plastics, paints and coatings, and cosmetics, among others
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Drivers, Restraints, Opportunities
Titanium Dioxide (TiO2) is a chemically inert and low-risk material and is widely used for many purposes and applications. TiO2 powders is extensively used owing to ability to give whiteness and opacity to various products such as paints, adhesives, papers, and cosmetics. Titanium dioxide has excellent light-scattering properties and a high refractive index, which suggests low levels of the pigment is required for opaque or white coating and this has boosted its use in various technological products. In addition, low costs of raw materials and processing have further increased use of titanium dioxide over the recent past and these are key factors expected to drive to continue to drive market revenue growth over the forecast period.
Titanium dioxide is a fine, white powder that provides a bright and white pigment and has been used in a broad range of applications that require opacity and brightness. Rapid technological advancements such as production and introduction of nano-sized titanium dioxide has enabled its use for antifogging and self-cleaning coatings on glass, for building facades, in plastics industry, and in confectionary, among others. Titanium dioxide has also been approved as food and pharmaceutical additive and is included in the Inactive Ingredients Guide of the U.S. FDA. Titanium dioxide is widely used in dental paste, suspensions, oral capsules, dermal preparations, tablets, and in non-parenteral medicines. Titanium dioxide is used as an active ingredient in sunscreen as it works as an UV filtering ingredient and protects skin by blocking absorption of UV rays. Research studies have suggested that sunscreens containing titanium dioxide can prevent the occurrence of skin cancer and this has further boosted its adoption in cosmetics and personal care industry.
Nano-sized titanium dioxide is used as a support material for catalyst applications and is majorly used in the automotive industry to minimize emissions of harmful gasses and remove nitrous oxides from power stations. In addition, increasing advancements in the automotive industry is further boosting consumption of paints and coatings. However, concerns regarding side effects of titanium dioxide as it is a potential carcinogen for humans and can have harmful effects on the environment can limit its adoption and act as a restraining factor for revenue growth of the market.
To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/titanium-dioxide-tio2-market
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Anatase Grade Titanium Dioxide to Account for Largest Revenue Share:
Anatase grade segment is expected to account for largest revenue share over the forecast period owing to its extensive use in indoor paints and in paper manufacturing. Anatase titanium dioxide has an excellent photocatalytic effect and large specific surface, which has boosted its use in photocatalysts, air purifiers, solar cells, gas sensors, and lithium batteries, among others. These applications are further expected to contribute to revenue growth of this segment.
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Increasing use of TiO2 in Paints & Coatings to Drive Segment Revenue Growth:
Titanium dioxide is majorly used in the paints and coatings industry for production of architectural paints, lacquers, emulsions, sun protection coatings, wood care varnishes, and garden paints, among others. Increasing number of commercial and residential building is further boosting demand for paints and coatings made with titanium dioxide. In addition, increasing demand from automotive sector to confer brightness and resilience to vehicles is another key factor driving revenue growth of the paints and coatings segment.
North America to Lead in Terms of Revenue Growth:
North America is expected to account for largest revenue share in the global market over the forecast period owing to increasing consumer demand for sunscreens with enhanced UV protection, expansion in the automotive sector, and presence of key market players in the region.
Asia Pacific Market Revenue to Expand at a Robust Revenue CAGR:
Asia Pacific is expected to register robust revenue CAGR over the forecast period, attributed to increasing number of infrastructure development projects, rapid urbanization, significant growth in the automotive industry, and increasing demand for paints and coatings in countries in the region. Increasing investments to construct modernized, state-of-the-art residential and commercial buildings, rising production in end-use industries such as cosmetics, plastics, and paints and coatings to meet growing demand, and increasing availability of raw materials at cost-effective prices are some other factors contributing to revenue growth of the APAC market.
Major Companies in the Market Include:
- Tayca Corporation
- Huntsman Corporation
- The Chemours Company
- Tronox Limited
- Kronos Worldwide Inc.
- Evonik Industries AG
- Cristal Global
- Lomon Billions Group
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented the global titanium dioxide (TiO2) market on the basis of grade, process, application, end-use, and region:
Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Rutile
- Anatase
Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Chloride Process
- Sulfate Process
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Paints & Coatings
- Plastics
- Pulp & Paper
- Cosmetics
- Other
End-Use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Automotive
- Personal Care
- Pharmaceuticals
- Food & Beverage
- Construction
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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