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"The Demand for Titanium Dioxide is Anticipated to Exhibit a CAGR Of 5.8% During the Forecast Period."
Increased demand for lightweight automobiles along with stringent regulations for carbon emission that are pollution-causing emissions is growing its market share. The use of lightweight materials in order to enhance the fuel efficiency and the safety of the vehicles is supporting the growth of the Titanium Dioxide market share. Such influence on the industry has a positive impact on the demand for Titanium Dioxide supply. There are advantages in the use of lightweight materials when coated by titanium dioxides such as durability, stability, persistence, and scratch resistance. Its application is being increased in inks, rubber, and chemical fibres.
The inks are printable and are used among flexographic, lamination, screen printing, UV-cured, and metal decorative inks. The exponential increase in the construction industry, especially in developed countries, is supporting market demand for Titanium Dioxide. Therefore increased residential and non-residential construction activities are augmenting the demand for paints & coatings. Moreover, anti-corrosive architectural coatings in the pigments are stimulating the increase of titanium dioxide market demand. The cost of Titanium Dioxide offerings in developed countries is projected to influence the supply chain fluctuations in these countries. Natural calamities across the world had increased the construction industry market that had plunged the demand for titanium dioxide.
By Application, Paints & Coatings Segment is anticipated for High Demand during the Forecast Period
Paints & coatings application segment in Titanium Dioxide had led the market share during the forecast period. The application of TiO2 is being stimulated by the vehicle paints by its resilience and brightness towards extreme environmental conditions. Titanium Dioxide is a high refractive material enabling it to be favourable for pigmentation of paints of vehicles. Titanium dioxide could also be used as a filler material in the paper mill industry; its application is significant in decorative foils, decor papers, and other printable materials. TiO2 usage in magazine papers imparts glossy finish which is attractive. It acts as fillers by papermakers could fuel the market growth during the forecast period.
Infrastructure development among emerging nations is a prominent element contributing to the demand for anti-corrosion coatings and paints are expected to surge the market growth. Paints and coatings are being highly demanded as a whitening agent in the redecoration sector contributing to the industry demand during the forecast period. The plastics products manufacturing sector, Titanium Dioxide has a considerable usage in making master batches. The increased cost of this material supports the demand for a substitute to titanium dioxide that includes products such as antimony oxide, zinc oxide, carbonates, and lithopone. It is anticipated for a challenge in the market growth of titanium dioxide during the forecast period.
The Titanium Dioxide Market in the Asia Pacific Accounted for the Largest Share in 2018 and is Expected to Remain Dominant during the Forecast Period
In the use of Titanium Dioxide, the Asia-Pacific region is leading in its global market share. Increased manufacturing of cosmetics, paints, and coatings, and plastics, usage of titanium dioxide as one of the ingredients is anticipated to rise exponentially during the forecast period. Increased investments in the construction of residential and commercial buildings in developing countries including India, China, the Philippines, Vietnam, and Indonesia are anticipated to have a significant market growth of titanium dioxide due to the contributing factors.
The Asia-Pacific region is also witnessing strong growth in the demand for cosmetic products, because of the influence of western countries on the customer’s existing in this region. This demand for cosmetic products is from teenagers and women who are employed and aware of the latest offerings made in the market. Therefore, these market trends in the Asia Pacific region are contributing to the market share of titanium dioxide during the forecast period.
The Titanium Dioxide manufacturing organizations are involved in expanding their geographical presence for increased market share. Hence these companies are involved in mergers & acquisitions for improved resource availability to manufacture the offerings in a cost-effective manner.
Prominent players available in the market for offering titanium dioxide are listed as follows 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, and Ishihara Sangyo Kaisha Ltd.
Key Segments of Titanium Dioxide Market
- Paints & coatings
- Pulp & Paper
- North America
- Asia pacific
- Middle East and Africa
- Latin America