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    Market Research

    Titanium Dioxide Market to Reach $27.5 Billion by 2026: Global Market Insights

    Valued at more than $17 billion in 2019.

    Titanium Dioxide Market to Reach $27.5 Billion by 2026: Global Market Insights
    Global Market Insights04.23.20
    The global titanium dioxide market size was valued at more than $17 billion in 2019 and is estimated to exhibit a 7.5+ percent CAGR from 2020 to 2026. 
     
    The ongoing trend of using self-cleaning technologies across various industries will propel the product demand over the forecast time period.
     
    Titanium dioxide (TiO2) is a white pigment, majorly obtained from raw materials such as ilmenite and rutile mineral sand. 
     
    This product is extensively used by paints and coatings and plastic compounders owing to its desirable physical properties. Some of the key properties of TiO2 include excellent whiteness and brightness, color retention, durability, high dispersibility, etc. 
     
    The pigment generally possesses more than 80 percent content of TiO2 and is in demand for the coloring applications of food items, paper and pulp, textiles, cosmetics, etc.
     
    Growing global paints and coatings industry is likely to drive the titanium dioxide market demand over the forecast time period. The product is extensively used to produce architectural paints, wallpaper coatings, radiator paints, plastic paints, etc. in the industry. 
     
    Rising automotive production and expenditure in the construction sector will be key growth parameters for the paint and coatings industry, which will further enhance the TiO2 demand in upcoming years.
     
    In the U.S., paints and coatings production was projected at more than 5 billion liters in 2017 and is expected to grow significantly in upcoming years. An increasing number of vehicles in emerging nations including China, India, Mexico, etc., are likely to enhance paints and coatings usage in the coming years. Such trends are likely to increase titanium dioxide market share across the globe.
     
    Another key growth enabling factor is the ongoing trend of self-cleaning technologies across various end-user industries worldwide. Some of the potential applications of this product include self-cleaning fabric, antimicrobial coatings for hospital infections, self-cleaning concrete, polycarbonate substrate, self-cleaning paints, etc. which will again drive the titanium dioxide market growth over the forecast time period.
     
    The key restraint to the titanium dioxide market is its volatile prices, which is likely to pose challenges to the industry growth over the forecast time period. Historically, the product has seen a considerable fluctuation in prices owing to a large variation in supply and demand.
     
    During the period of 2009 to 2011, the price of TiO2 rose drastically as the customers had a tendency to order in excess than required to save themselves from an additional price hike in the next year. After that, prices started to fall roughly in 2016 which led consumers to stop procuring TiO2 from the manufacturers as they had stocked up already in the previous cycle.
     
    Such trends have created price volatility of TiO2, which will further affect titanium dioxide market development over the coming years. 
     
    However, rising expenditure on construction activities worldwide will create a need for paints and coatings, which will drive product demand in the coming years.
     
    The sulfate process will be growing at a CAGR of seven percent in the forecast years, primarily owing to its relative ease of handling. The process utilizes sulfuric acid to produce titanium dioxide from mineral sand.

    However, this process generates a large amount of waste, which is a major disadvantage.
     
    Rutile grade titanium dioxide market is likely to grow at 8.2 percent CAGR over the forecast time period owing to its superior characteristics as compared to anatase titanium dioxide. This grade possesses higher hiding power and weatherability and can be used in the applications of advanced outdoor coatings, latex coatings, advanced paper coatings, etc. These grades can be manufactured using either chloride or sulfate process.
     
    Ultrafine titanium dioxide from titanium dioxide market will be growing at the highest rate over the forecast time period. The product contains lower content of TiO2 and particle size lesser than 100 nm. 
     
    Ultrafine particles are widely used in the applications of water and air purification, self-cleaning technologies, etc. Growing usage of nanoparticles in various end-user industries will increase the penetration of ultrafine TiO2 by the end of the forecast time period.
     
    Paints and coatings will account for more than a 55% share of the overall market throughout the forecast time period.

    TiO2 possesses key characteristics of excellent opacity, color retention, high whiteness, durability, etc., which is why it is gaining importance in the paints and coatings sector. Growing automotive production and construction activities across the world will create a need for paints and coatings products, which will again increase the TiO2 market share.
     
    Asia Pacific will account for more than 40 percent share of the overall market in the upcoming years. The key reason behind this is growing plastic and paints and coatings production in China.

    China accounted for around 30 percent of global plastic production in 2016 and is likely to increase its share over the coming years. Apart from these, the rising number of automobiles along with increasing construction activities in major counties will stimulate the titanium dioxide industry size in this region.
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