Titanium Dioxide Market Segmentation and Strategies of Key Players For 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.
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.
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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.
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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.
Major players operating in the titanium dioxide market include The Chemours Company, CRISTAL, Kronos Worldwide Inc., and Tronox Limited.
Table of Content
2. Executive Summary
3. Titanium Dioxide Market– Industry Analysis
4. Raw Material and Price Trend Analysis
5. Titanium Dioxide Market – China Analysis
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