Growing Popularity of Automotive Coatings to Augment Demand for Titanium Dioxide
The global titanium dioxide market is estimated to grow at a steady CAGR of 5.0% over the forecast period (2019-2027) and reach a value pool of nearly US$ 25Bn by the end of forecast period.
The global market is anticipated to witness substantial growth owing to increasing concentration of titanium dioxide in paint and coatings, growing demand for lightweight automotive vehicles and rising demand from the cosmetics industry.
The ongoing shift towards hydrometallurgical production generates novel opportunities for titanium dioxide manufacturers and who hope to gain an attractive profit margin in the near future.
Growing demand for lightweight vehicles is anticipated to boost the market growth in the coming years, owing to strict regulations. As a result, the increased use of lightweight materials for improved overall performance and fuel efficiency is expected to have a positive effect on the titanium dioxide market in the foreseeable future.
The growing number of residential and non-residential construction projects is creating demand for paints & coatings, thereby enhancing the consumption of titanium dioxide.
The overall business outlook appears to be brighter during the forecast period. Against the backdrop of higher rates of construction activity, investment and household spending, higher demand for paint, plastics and decorative laminates, the global titanium dioxide market is anticipated to create lucrative revenue streams.
Paints & Coatings to Proliferate, Infrastructure Construction Spending to Act as Growth Lever
The paints & coatings segment led the titanium dioxide industry in 2018, covering a total share of more than 60%.
The paints & coatings industry consumed an estimated 3.5 million tonnes of titanium dioxide in 2019. Due to its durability and clear characteristics, titanium dioxide is significantly being used in automotive paints.
The high refractive index makes it ideal for vehicle pigments. Rising infrastructure spending in developing countries is proving to be a decisive factor driving the demand for coatings, which is expected to draw extensive capital within the titanium dioxide market.
Increasing product utilization in the redecoration and refurbishment sectors as a whitening component is also expected to contribute towards the growth of the titanium dioxide industry over the coming decade.
East Asia at the Forefront as Opportunities Abound
Presently, East Asia accounts for the largest share in the global titanium dioxide market with a share of over 30%.
With increasing demand from industries such as paints and coatings, cosmetics and plastics, the overall consumption of titanium dioxide is expected to increase significantly in East Asia over the forecast timespan.
East Asia is followed by Europe in the global titanium dioxide with supply characteristics during the fourth quarter strong, notwithstanding some upstream limitations that were balanced by seasonally declining demand from the paint and plastics industry.
Increasing demand for anti-corrosion coating solutions in construction and automotive industry have proliferated the demand for titanium dioxide across the East Asian counties.
Regional Exports to Be the Prominent Market Stimulator
The global titanium dioxide market is consolidated in nature, in which few prominent players are holding significant market share. Some of the leading market players include
Through multiple business approaches, several competitors are concentrating on regional expansion.
For example, a lot of competitors are discovering new titanium dioxide resources through mergers and joint ventures, and collaborations with exploration and mining companies.
In the last quarter, the availability of titanium dioxide was sufficient, and industry users had no problems with titanium dioxide requirements.
Late in the year, in a bid to liquidate outstanding inventories, producers aggressively tried to off-load titanium dioxide cargoes ahead of calendar year-end. Consequently, significant increase in the international chemical trade will positively impact the market growth.
Avail customized purchase options for your needs
Global Titanium Dioxide Market: In-Depth Assessment on Key Segments
The global titanium dioxide market is segmented on the basis of grade, application and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for titanium dioxide has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous titanium dioxide manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global titanium dioxide market.
Some of the major competitors operating in the titanium dioxide market are Tronox Limited, Kronos Worldwide Inc., Cristal, Huntsman Corporation, Evonik Industries Inc., Argex Titanium Inc., The Chemours Company and others.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.