Titanium Dioxide Market - Global and China Industry Analysis, Size, Share, Growth 2023
Titanium
dioxide is a white colored, solid, inorganic material with high thermal
stability and poor solubility. Ilmenite and rutile are the major raw
materials used in the production of titanium dioxide. Titanium dioxide
is produced through two processes: sulfate process and chloride process.
However, the sulfate process is used extensively across the globe.
This
163 page report gives readers a comprehensive overview of the Titanium
Dioxide Market. Browse through to unlock the hidden opportunities in
this market.
Rising
demand for lightweight vehicles and expansion in the construction
industry are the major factors driving the global titanium dioxide
market. Demand for lightweight vehicles has increased significantly in
the last few years. Stringent environmental regulations have boosted the
demand for fuel-efficient vehicles with low carbon footprint.
Titanium
dioxide is widely used for coating polycarbonates that are further used
in the production of lightweight automobiles. Furthermore, demand for
lightweight vehicles is expected to rise substantially in the near
future due to increasing environmental concerns and shift towards
environment-friendly alternatives. Additionally, expansion in the
construction industry is anticipated to be one of the major factors
propelling the titanium dioxide market globally. Asia Pacific is
estimated to be at the epicenter of the construction industry boom, with
countries such as China, India, and Indonesia investing in the
construction industry. Growth in the construction industry is projected
to further propel the paints & coatings industry and subsequently
the titanium dioxide market.
Titanium
dioxide is employed in various applications. Major applications include
paints & coatings, paper, plastics, and inks. Currently, paints
& coatings is the largest application segment of the titanium
dioxide market. Approximately half of the global titanium dioxide
produced in 2014 was used in paints & coatings applications. Paints
& coatings is also anticipated to be the major application segment
during the forecast period. Demand for titanium dioxide in plastics
application is anticipated to be the largest among all the application
segments.
Titanium
dioxide is used in plastics to improve several characteristics such as
opacity, color, and strength. It is primarily used in the production of
high strength plastics to improve their efficiency. Furthermore,
titanium dioxide is employed widely in the paper industry. It is
employed in the production of high strength papers, which are further
used in the packaging industry. The demand for titanium dioxide from the
paper industry is anticipated to be moderate over the forecast period.
Stringent
environmental regulations are a major restraint to growth of the global
titanium dioxide market. Several harmful solid and acid wastes are
produced during the production of titanium dioxide. Various regulations
have been implemented across the globe, primarily in developed
economies, to control the emission and disposal of these wastes. The
sulfate process of titanium dioxide production leads to large quantities
of solid waste. Most China-based titanium dioxide manufacturers employ
the sulfate process for the production of titanium dioxide. However,
China-based producers are adopting various alternatives to lower the
pollution caused by the titanium dioxide due to recent governmental
regulations pertaining to emissions and waste disposal of titanium
dioxide.
In
terms of region, Asia Pacific was the largest market for titanium
dioxide in 2014 and accounted for over 40% of the market share in the
same year. China was the largest market for titanium dioxide in terms of
production and demand in 2014. Major titanium dioxide producers have
established production facilities in China in order to cater to the
rising demand for titanium dioxide in the country. Asia Pacific was
followed by Europe and North America. Increasing demand for automobiles
and recovery of the construction industry in North America are projected
to drive the titanium dioxide market in the region.
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Major
players operating in the titanium dioxide market include The Chemours
Company, CRISTAL, Kronos Worldwide Inc., and Tronox Limited.
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