Titanium Dioxide Market Overview:
The global titanium dioxide market is touted to touch USD 44.954 billion at a staggering 14.28% during the forecast period (2018-2023). Titanium dioxide or titania or titanium (IV) oxide is a crystalline, white powder comprising of rutile and ilmenite, which are the key raw materials. This is made using either sulfuric acid or chloride process, known as the sulfate process. Titania is widely utilized as a white pigment especially in coatings application and paints. Besides, it is also used in other applications namely food coloring and sunscreens. FDA has approved its safety in drug, food and cosmetic applications. Titanium oxide is commonly found in chewing gums, sweets and candies and in some chocolates to provide a smooth texture and also in doughnuts to offer texture and color. In personal care items, titanium dioxide is found in toothpaste. The list does not end here. it is also utilized as flavor enhancers in non-white foods such as wine, beer, mustard, soups, seeds, nuts and dried vegetables.
There are many factors that is driving the growth of the titanium dioxide market. Some of these factors as per the Market Research Future (MRFR) report include growing need of titanium dioxide in cosmetics and skin care products such as sunscreens and body lotions, progressive growth in auto industry particularly light-weight automobiles and also construction industry. On the contrary, factors such as environmental regulations and fluctuating cost in the raw materials may hamper the growth of the titanium dioxide market.
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Titanium Dioxide Market Competitive Analysis:
The titanium dioxide market is highly competitive and fragmented. The leading specialty pigments and pigments manufacturers are manufacturing and supplying titania to different end use industries. In fact, the key companies are competing for increasing their footprint. They are chiefly concentrating to broaden their pigment portfolio via extending product offerings. Also, they are laying emphasis to increase the market share in its entirety through acquisitions.
Titanium Dioxide Market Key Players:
Leading players profiled in the titanium dioxide market include Tronox limited, Yunnan Dahutong Industry & Trading Co., Ltd, Pangang Group Vanadium Titanium & Resources Co., Ltd., Argex Titanium Inc., Evonik Industries, Huntsman Corp., CRISTAL, Kronos Worldwide, DowDuPont Inc., Chemours Company and others.
Titanium Dioxide Market Segment Analysis:
Market Research Future report offers an all-inclusive segmental analysis of the titanium dioxide market on the basis of application and end-users.
Based on application, it is segmented into food additives, cosmetics, paper, pigment, photo-electrode, plastics, coatings, paints and others. Of these, paintings and coatings are expected to expand at the highest CAGR owning to increasing growth in construction and automobile industries. Titanium dioxide when utilized in coatings and paints will ensure longevity and continued protection. It is utilized in different paints and coatings application for offering durability, opacity and aesthetic appeal.
Based on end-user, the titanium dioxide market is segmented into construction industry, food and beverages, pharmaceutical, personal care, automotive and others.
Titanium Dioxide Market Regional Analysis:
However, Global titanium oxide market growth is hampered by stringent regulations on the emissions. The process used for the titanium dioxide production also produces solid waste and hazardouis emissions. As there is stringent regulatory framework in place in developed regions, the global titanium dioxide production is anticipated to be hampered.
Rutile and anatase are the two forms of titanium dioxide used in aforementioned industries. Among these types, owing to its suitable charecterestics rutile is preferably used in various industries. On the other hand, anatase has relatively low market share and preferably used in paper industry. Anatase is antcipated to grow at faster rate compared to rutile.
Geographically in terms of consumption, the global titanium dioxide market is dominated by Asia-pacific region. The region is expected to retain its dominance through the forecast period, owing to growing construction, and automotive indutsries in China & India. In addition to this, Asia-pacific is estimated to be the fastest growing market followed by Latin America. North America is the second largest market followed by Europe.
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