Titanium dioxide, also known as titanium (IV) oxide, is the naturally occurring oxide of titanium. It possesses UV-resistant properties, and is widely used in sunscreen preparation. The compound is often used as a pigment by numerous businesses, including food, cosmetics &skin care, paints and coatings, and plastics, due to its ultra-white hue and light-scattering property. Food and Drug Administration (FDA) has tested the compound to be used as a color additive in food, medicine, and cosmetic products. Increase in demand for titanium dioxide in various industries such as automotive and paint & coating is anticipated to boost the growth of the global titanium dioxide market.Increase in use of titanium dioxide in various industries is anticipated to boost its demand during the forecast period. Paints and coatings retain majority of titanium dioxide's market share.
Key drivers of global titanium dioxide market
Surge in use of titanium dioxide in the paint &coating sectors in the building &automobile sectors as well as its use in the paper & plastic industry drivethe growth of the titanium dioxide market. In addition, it is used as a pigment to provide whiteness and opacity to products such as paints, coloring, plastics, papers, inks, cosmetics, and toothpastes, which boosted its demand, thereby contributing toward the global market growth.Moreover, titanium dioxide serves as a reinforcer in ceramic production and increases ceramic efficiency, which, in turn, is expected to augment the growth of the global market with new prospects.
Market scenario: opportunities and challenges
Rapid growth in urbanization has led to increase in residential and commercial building activities, which is likely to supplement the demand for titanium dioxide in paint & coatings industry. Over the forecast era, surge in demand for downstream products of titanium dioxide and natural dyes in the textile industry is expected to provide opportunities for the studied market. Technological innovation aimed at increasing the manufacturing processes to boost the yield of high-quality products, and is expected to create lucrative opportunities for the market expansion. However, the use of titanium dioxide is stringently restricted, due to its carcinogenic effects, which hampers the growth of the overall market. Furthermore, high cost of titanium dioxide limits its adoption, globally, thereby restraining the market growth.
COVID-19 scenario analysis
The global titanium dioxide market is expected to witness slowdown during the forecast period, owing to the outbreak of the COVID-19 pandemic. Alarming surge in cases of COVID-19 is predicted to have a long-term effect on the demand for titanium dioxide. As a result, businesses in the titanium dioxide industry are growing to reduce the COVID-19 consequences.
Key benefits of the report
- This study presents the analytical depiction of the global titanium dioxide industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global titanium dioxide market share.
- The current market is quantitatively analyzed to highlight the global titanium dioxide market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global titanium dioxide market research report:
- Which are the leading market players active in the globaltitanium dioxide market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities ofthe market?
- What are the projections for the future that would help in taking further strategic steps?
Titanium Dioxide Market Report Highlights
Key Market Players
Tayca Corporation, The Chemours Company, Alchemy Heavy Metals Pvt. Ltd., Argex Titanium Inc., NL Industries Inc., Evonik Industries, Lanka Mineral Sands Limited, Huntsman Corporation, Tronox Limited