Titanium Dioxide Market to Grow Due to Expansion of Construction Industry and Increasing Demand for Lightweight Vehicle Demand
Titanium dioxide, also called as titania, is commonly sourced via minerals such as anatase, ilmenite, and rutile. Amongst these, almost 50% of the total global titanium dioxide market is sourced from ilmenite and is produced with the help of chloride and sulfate processes. Titanium dioxide has a number of distinct properties, such as high refraction, due to which it is useful in a variety of applications. Titanium dioxide is utilized in cosmetics for reflecting light from the skin and for preventing ultraviolet ray absorption from the sun. Additionally, it is also utilized for enhancing the color of certain types of foods including candies and dairy products.
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Rising Demand for Lightweight Vehicles to Fuel Titanium Dioxide Market
The expansion of the construction industry and the increasing demand for lightweight vehicles are the prime factors fuelling the market for titanium dioxide. The rising preference for low-emission and fuel-efficient vehicles has raised the demand for lightweight vehicles all around the world.Lightweight vehicles use polycarbonates in their manufacturing. But as polycarbonates have low scratch resistance, titanium coatings are used in polycarbonates because of their high scratch resistance. These benefits of titanium coatings are poised to fuel the titanium dioxide market in the coming years.
On the other hand, a large volume of toxic waste is produced during titanium dioxide production and strict government regulations aimed at restricting the harmful effects of titania manufacturing may impede the growth of the market in the forthcoming years.
Paints and Coatings Accounted for 50% of Total Application of Titania
On the basis of application, the titanium dioxide market is segmented into plastics, paints and coatings, papers, and others including inks and artificial fibers. Amongst these, paints and coatings are the biggest application segment of the titanium dioxide market and represented around 50% of the demand from the market in 2014. This application segment is predicted to maintain its superiority in the coming years. On the other hand, titanium dioxide will have the highest demand from the plastic application segment in comparison to the other application segments within the forecast period. Titanium dioxide is utilized in plastics in order to enhance characteristics such as color, strength, and opacity of plastics. In addition, the paper industry also uses titanium dioxide for making papers of high strength to be utilized within the packaging industry.
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Asia Pacific Titanium Dioxide Market Emerges as the Biggest Market
The titanium dioxide market is segmented in terms of geography into Europe, North America, Latin America, the Middle East and Africa (MEA), and Asia Pacific. Amongst these, in 2014, Asia Pacific stood as the biggest market and took up a share of more than 40% in the market. Within Asia Pacific, China was the biggest titanium dioxide market on the basis of demand and production in 2014. Europe and North America trailed Asia Pacific in the global market. Rejuvenation of the construction industry and rising demand for automobiles following the economic revival in North America is expected to boost the market for titanium dioxide in this region.
The prominent players dominant in the market include Huntsman International, Iluka Resources Ltd., Cristal Global, DuPont (E.I.) De Nemours, Indian Rare Earths Limited, Kronos Worldwide, Inc., Sachtleben Chemie GmbH, TiZir Limited, Sierra Rutile Limited, and Tronox Limited, among others.
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