Mar 24, 2020
Sales of Titanium Dioxide to Spike, with Paints & Coatings to Account for ~60% Demand Share, Finds Fact.MR
by Team Fact.MR
In the recent past, titanium dioxide emerged as an effective coating pigment owing to its high refractive index and light-phobic properties. Globally, the paints industry consumed more than 3Mn Tons of titanium dioxide in 2019. Infrastructural activities coupled with rising commercial and residential construction is ramping up the demand for paints & coatings, thereby escalating the growth of the overall titanium dioxide market during the forecast period.
Significant consumption of titanium dioxide pigments in automotive, owing to high refractive index will spur sales in the foreseeable future. Further, increasing popularity for flexible plastic manufacturing in packaging industry will push the market towards a profitable future. The ongoing shift towards hydrometallurgical production generates novel opportunities for titanium dioxide manufacturers who hope to gain an attractive profit margin. The market is poised to witness a growth rate of over 5% during the forecast period (2019-2027)
Key Takeaways of Titanium dioxide Market Study
- Per capita consumption of titanium dioxide in China is about 1.1 kilograms per year, compared with 2.7 kilograms for Western Europe and the United States
- In terms of revenue, paints & coatings is the leading application in the global titanium dioxide market with more than 1.4x growth, and is poised to grow at a CAGR of 4% in the forecast period
- Plastic segment will grow 1.7X during the forecast years. This can be attributed to benefits such as enhanced heat resistance, light resistance and weather resistance of plastic products, protecting plastic products from invasion of UV Rays, improving the mechanical capacity and electrical performance of plastic products
- East Asia is a leading contributor in the supply and demand of titanium dioxide supported by low cost of production and increased use of titanium dioxide in various end uses and in major emerging economies such as Japan, China and South Korea.
- Rutile has a titanium dioxide content of 94–96%, making it highly desirable as a feedstock. Rutile will witness healthy single digit growth of more than 4% during the forecast.
“Advances in finishing technology continues to receive the maximum attention from titanium dioxide manufacturers. Increasing demand for anti-corrosion coatings in construction and automotive industry is set to proliferate the demand for titanium dioxide in the foreseeable future” says the Fact.MR analyst
Competition Heating Up on Back of Capacity Expansion
Global titanium dioxide market is consolidated in nature. Leading players such as Chemours, Cristal, Huntsman, Kronos, Lomon-Billions and Tronox account for more than 60% market share. Companies are working with customers on sustainable pricing based on total business value. Also, leading players are engaged in improving manufacturing circuit through capacity expansion to encounter consumer demand. It is estimated that the market will experience capacity addition of 200,000 to 300,000 Tons every year
Find More Valuable Insights on the Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for titanium dioxide, with historical data on demand (2013-2018) and expected projections for the period 2019-2027. The report discloses compelling insights into the demand for titanium dioxide on grade (anatase and rutile), application (Paints & coatings, plastic, pulp & paper, cosmetics, others.) across several major regions.
>>> To Get more insights on titanium dioxide market, visit- https://www.factmr.com/report/4641/titanium-dioxide-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations. For more chemicals domain expertise, visit here.