Opacifying Ingredients Market

Opacifying Ingredients Market Outlook (2023-2033)

The global opacifying ingredients market stands at US$ 17.2 billion in 2023 and is forecasted to expand at a CAGR of 5.6% and reach a market size of US$ 29.7 billion by the end of 2033.

Opacifying ingredients are used in products to make the resulting formulation opaque. These are mostly utilized in cosmetic items but also in paints and coatings. They provide cosmetic compositions such as creams and shampoos with a rich, creamy, opulent feel and appearance.

An additive that can actively block the transmission of light is regarded as the ideal opacifier. These provide shine, shimmering effects, or opacity to a solution to improve the visual attractiveness of the final product for consumers. The most popular type of opacifier across industries is titanium dioxide. A majority of the market for opacifiers is in the paints and coatings business, which is followed by the cosmetics and personal care sector.

The use of opacifying chemicals is growing across a range of end-use sectors as technology advances concurrently. To increase the downstream utility of materials in industries such as paints & coatings, ceramics, and cosmetics, producers are keen to engage in the research and development of opacifying ingredients.

• Leading industry player Chemours announced its entry into two new segments - specialized and thermal titanium dioxides, in 2021.

This is because of the increasing demand from end-use industries that are creating opportunities for opacifying ingredient manufacturers.

Consumers practically equate substances with water when they have a clear or transparent appearance. Therefore, they are perceived to be less effective. Manufacturers can make their products opaquer and more aesthetically appealing for customers by adding opacifiers to them during the production process. It appears that producers are concentrating on technology developments to create opaque polymers more effectively.

• Short Term (2023-2026): Due to high manufacturing costs and relatively high selling costs brought on by complicated production processes and technology, the industry is predicted to see weak demand. It's still possible that downstream producers will favour aggressive pricing strategies above subordinate production costs.
• Medium Term (2026-2029): Ingredients used in conventional opacifiers are regarded as microplastics. Due to the increased need for biodegradable opacifying substances as the world moves towards eco-friendly approaches, a change in the manufacturing method and technology may be seen.
• Long Term (2029-2033): Globally expanding construction industry is driving up demand for paints and coatings rapidly. This will result in a significant increase in the demand for opacifying chemicals used in industrial applications. To meet the rapidly expanding demand, manufacturers will concentrate on improving their production capacities.

Report Attributes	Details
Market Size (2022A)	US$ 16.5 Billion
Estimated Market Value (2023E)	US$ 17.2 Billion
Forecasted Market Value (2033F)	US$ 29.7 Billion
Global Market Growth Rate (2023-2033)	5.6% CAGR
North America Market Share (2023)	~ 25.2%
North America Market Growth Rate (2023-2033)	~ 5.5% CAGR
US Market Growth Rate (2023-2033)	~ 5.6% CAGR
Market Share of Top 5 Companies	~29.4%
Key Companies Profiled	Dow Arkema Cristal Kronos Worldwide Inc. Tronox Limited Tayca Corporation En-tech Polymer Co. Ltd. Venator Kumyang Central Drug House Tinox Chemie GmbH Otto Chemie Pvt. Ltd.

Why is Consumption of Opacifying Ingredients Increasing Steadily?

“Growing Construction Industry Worldwide”

Demand for opacifying chemicals is increasing rapidly due to the rising consumption of paints and coatings in both developed and developing countries. The expanding global building industry is responsible for the increased usage of paints and coatings. Due to population growth and an increase in nuclear households, the construction output of developing countries is progressively rising.

Demand for paints and coatings is rising quickly as a result of the construction sector's expansion. Besides the fact that opacifying compounds have a wide range of uses, one of the key applications responsible for the high consumption of opacifying ingredients in paints and coatings.

“Rising Standards of Living across Regions”

Global GDP's accelerated expansion has increased the size of economies and improved fiscal conditions. The average growth in per capita GDP increases people's living standards.

The market for opacifying chemicals is expanding as a result of improved standards of living and increased middle-class purchasing power. The market for cosmetics and personal care goods is expanding due to factors such as an increase in the number of working women, changes in lifestyle, and increased consumer knowledge of hygiene and skin care products. The target market is also being driven by the rise in spending on premium personal care products.

“Growing Trend of Eco-friendly Ingredients”

Biodegradable opacifying ingredients are poised to alter every aspect of the industry, from technology to novel materials being developed by researchers. Opacifiers, which are commonly used, are classified as microplastics and are not biodegradable. Various classic opacifier compositions are reportedly about to be outlawed in some nations.

Producers are eager to develop new formulations that will lessen the effects of these items on aquatic and terrestrial life. They are working on opacifiers free of microplastics that will have strong opacifying capabilities even at low concentrations. Evidently, this will result in companies spending more on R&D and creating new products. This will affect how much these products cost, putting production and development costs below them. This will hinder market expansion to some extent.

Market share analysis of opacifying ingredients based on application and region. Under the application segment, paint & coatings dominate with 29.4% market share in 2023.

Country-Wise Analysis

How are U.S. Sales of Opacifying Ingredients Shaping Up?

By establishing joint ventures and strategic alliances with small-scale companies operating in the ceramics and cosmetics industries, as well as independent distributors, U.S. domestic manufacturers are concentrating more on the country's supply chain gaps. On the other hand, international market players are focusing on forming long-term alliances with end-use industries by offering large margins to establish their brand's reputation in the market. Well-known manufacturers in the U.S. are attempting to lower their manufacturing costs by employing advanced production technologies to increase their revenue.

Demand for opacifying substances has increased over time in the U.S. This has been due to rising disposable income and purchasing power among middle-class consumers. New market entrants are likely to adopt high price points to increase their profit margins as there is less number of players present in the market.

The U.S. opacifying ingredients market is anticipated to grow at a CAGR of 5.6% and reach US$ 7.1 billion by 2033.

Why is the European Opacifying Ingredients Market Expected to Be Highly Lucrative?

Several European players are expanding into underdeveloped markets through partnerships with local manufacturers. To meet the anticipated rise in demand, it is imperative to boost manufacturing capacity. By competing with the production capacity of significant foreign companies, European producers can capture a sizeable portion of the market. It is important that companies focus on forming strategic partnerships with regional distributors and modify their operational networks to reduce marginal losses and ensure improved profitability.

Companies are spending more capital on finding dependable raw material suppliers to reduce procurement costs and more time on emphasizing innovative production techniques to increase facility efficiency.

The European market is anticipated to expand at a CAGR of 5.1% during the same time frame and reach US$ 8.4 billion by the end of 2033.

Category-Wise Analysis

Which Product Type is Projected to Account for Higher Sales of Opacifying Ingredients?

Titanium dioxide has been utilized over a century in a variety of industrial and consumer products such as coatings, toothpaste, soaps, paints, plastics, floor coverings, paper, rubber, coated fabrics & textiles, printing inks, ceramics, roofing materials, and water treatment agents. Titanium dioxide is widely used to give cosmetic products such as body washes and shampoos a rich, creamy, opulent feel and appearance.

As such, titanium dioxide is predicted to continue to be the market's key driver of growth for opacifying components over the projection period. Demand for titanium dioxide is anticipated to grow at a CAGR of 5.9% and reach US$ 9 billion by the end of the forecast period.

Why is Product Demand High in Cosmetics and Paints Industries?

In the process of creating a product, opacifiers are widely utilized in the paints and cosmetics industries. They are essential components of formulations because they provide the formulation with its opaque, dense, and shiny appearance. As a result of the world's fast urbanization and population growth, which is reflected in the bloating construction industry, the paints and coatings industry is expanding globally.

In the case of cosmetics, factors driving market expansion include rising personal care and hygiene spending as well as higher living standards among the populace. The shift in working people's lifestyles has driven the expansion of the cosmetics sector. As a result, the market for opacifying compounds is being driven by the growing demand for cosmetics and paints.

• In 2021, Tayca Corporation, a well-established market player, announced its plan of expansion for the production of chemical products for the cosmetics industry, which includes opacifiers as well.

The paints & coatings segment is anticipated to grow at a CAGR of 5.7% and end up at a market valuation of US$ 9.1 billion by 2033.

Competitive Landscape

Top opacifying ingredient manufacturers are DuPont, Chemours Company, Arkema, Cristal, Kronos Worldwide Inc., Tronox Limited, Tayca Corporation, Venator, Kumyang, Central Drug House, and Otto Chemie Pvt. Ltd.

Market players should put a strong emphasis on resource and cost optimization, which will lower incidental costs and raise overall firm profitability. To expand sales in terms of volume, top opacifying ingredient producers should work with end customers such as manufacturers of paints & coatings and cosmetics.

Fact.MR has provided detailed information about the price points of key manufacturers of opacifying ingredients positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Opacifying Ingredients Industry Research

• By Type:

  • Titanium Dioxide
  • Arsenic Trioxides
  • Antimony Trioxide
  • Opaque Polymers
  • Zinc Oxide
  • Others

• By Application Mechanism:

  • Thermal Expansion
  • Crystallization
  • Suspended Micro-Bubbles

• By Application:

  • Paints and Coatings
  • Ceramics
  • Cosmetics and Personal Care
    • Shampoos and Conditioners
    • Body Washes
    • Powders
  • Medical and Pharmaceuticals
    • Pharmaceutical Packaging
    • Dental Ceramics
    • Surgical
    • Others
  • Others

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA