Jun 23, 2023   SOURCE: BusinessWire

Global Titanium Dioxide Market Report 2023: Increasing Demand for Lightweight Vehicles Drives Growth - ResearchAndMarkets.com

The "Global Titanium Dioxide Market Size, Share, Growth Analysis, By Grade, By Process, By Application, By End User - Industry Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global titanium dioxide market size was valued at USD 20.9 billion in 2021 and is poised to grow from USD 22.13 billion in 2022 to USD 37.08 billion by 2030, growing at a CAGR of 5.9% in the forecast period (2023-2030).

Titanium dioxide is a naturally occurring mineral compound that is used extensively in various industries, including paints and coatings, plastics, and paper. The global titanium dioxide market is driven by increasing demand from end-use industries and growing awareness about the benefits of using this compound in products.

Factors such as rising disposable incomes and urbanization in emerging economies are also contributing to the growth of the market. However, concerns related to environmental pollution and health hazards associated with titanium dioxide are some of the challenges faced by the industry.

Segments covered in this report

Global titanium dioxide market is segmented based on grade, process, application, end user, and region. Based on grade, the Titanium Dioxide Market is segmented into rutile and anatase. Based on process, Titanium Dioxide Market can be categorized as chloride and sulphate.

Based on application, Titanium Dioxide Market is again categorized as paints and coatings, plastics, pulp & paper, cosmetics and others. Based on product, Titanium Dioxide Market is segmented as pigmentary and ultrafine. Based on end user, Titanium Dioxide Market is segmented into automotive, construction industry, pharmaceutical and others. Based on region, Titanium Dioxide Market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.

Driver

The market growth is primarily driven by the increasing demand for lightweight vehicles, which is further fueled by technological advancements and innovations in the automotive industry.

Additionally, the regulations pertaining to emission policies are likely to result in a surge in demand for fuel-efficient vehicles, further contributing to the market growth.

Furthermore, the market for titanium dioxide is witnessing a rise due to the growing construction activities propelled by consumers' enhanced lifestyles and increasing renovation projects, along with new infrastructure initiatives taken by governments. The demand is also being supported by the growth of industries such as consumer goods, electronics, and appliance manufacturing.

Restrain

The market growth may be hindered due to environmental problems caused by the acidic properties and inappropriate utilization of titanium dioxide. Additionally, the misuse of this substance can have adverse impacts on the environment.

Trend

The market is experiencing a favorable impact due to the growing utilization of TiO2 as a pigment in various applications such as coatings, paints, textiles, rubbers, and printing inks. Advancements in technology have paved the way for new growth opportunities, especially in the printing inks segment where TiO2 is now used for lamination, metal decorative inks, and screen printing.

Additionally, the demand for lightweight vehicles is increasing as a result of improved fuel efficiency, which is expected to boost the demand for TiO2. Plastic-based auto parts like bumpers, interiors, and exteriors are being coated with this mineral.

Companies Mentioned

  • Chemours Company
  • Tronox Holdings plc
  • Venator Materials PLC
  • Kronos Worldwide, Inc.
  • Cristal
  • Tayca Corporation
  • Lomon Billions Group Co. Ltd.
  • Iluka Resources Limited
  • Henan Billions Chemicals Co., Ltd.
  • Shandong Doguide Group Co., Ltd.
  • CNNC Hua Yuan Titanium Dioxide Co., Ltd.
  • Yunnan Dahutong Industry & Trading Co., Ltd.
  • Pangang Group Vanadium Titanium & Resources Co., Ltd.
  • Grupa Azoty S.A.
  • Precheza a.s.
  • Shandong Dawn Polymer Co., Ltd.
  • Shandong Jinhai Titanium Resources Technology Co., Ltd.
  • Shandong Dongjia Group Co., Ltd.
  • Shaanxi Non-ferrous Tian Hong Recourses Co., Ltd.
  • Anhui Annada Titanium Industry Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/89ei1z

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