Titanium Dioxide TiO2 Market Size Analysis

----Titanium Dioxide TiO2 market size analysis by application: Paints & Coatings, Plastics, Pulp & Paper, Cosmetics

Titanium Dioxide TiO2 Industry Insights

The global Titanium Dioxide TiO2 market size was valued at USD 15.76 billion in 2018 and is expected to witness a CAGR of 8.7% from 2019 to 2025. Escalating demand for lightweight vehicles owing to strict emission policies is expected to fuel the market growth over the coming years. Thus, rising usage of lightweight materials for enhanced safety and fuel-efficiency is expected to have a positive impact on the industry over the forecast period. These lightweight materials, when coated with Titanium Dioxide TiO2, increase durability, stability, persistence, and scratch resistance.

Titanium Dioxide TiO2 has an increasing application scope in printing inks, rubber, and chemical fibers. In printing inks, it is used in flexographic, lamination, screen printing, UV-cured, and metal decorative inks. Rapidly expanding construction sector, especially in U.S., is projected to contribute to the product demand in the years to come.

Thus, rising number of residential and non-residential construction projects is augmenting the demand for paints & coatings, thereby boosting overall market growth. In addition, high demand for anti-corrosive architectural coatings in the pigments has increased the demand for Titanium Dioxide TiO2.

Titanium Dioxide TiO2 Application Insights

Paints & coatings application segment led the market in 2018. Titanium Dioxide TiO2 is being increasingly utilized in vehicle paints owing to its resilience and brightness. Also, its high refractive index makes Titanium Dioxide TiO2 suitable for pigments in vehicles. Titanium Dioxide TiO2, which is used as a filler material in the paper mill industry, has wide application scope in decorative foils, decor papers, and various print-based applications. The product used in magazine papers provides gloss making it more attractive. Rising use of fillers by papermakers is expected to fuel the segment growth over the forecast period.

Global Titanium Dioxide TiO2 Market Size

Increasing investment for infrastructure development in emerging countries has been a dominant factor driving the demand for anticorrosion coatings, which in turn is expected to spur the market growth. Rising product usage as a whitening agent in the redecoration market is also expected to contribute to the industry growth over the forecast period. In plastics industry, the product is widely used for making masterbatches. However, rise in product prices is projected to increase the utilization of substitutes, such as antimony oxide, zinc oxide, carbonates, and lithopone. This is expected to challenge the market growth over the forecast period.

Titanium Dioxide TiO2 Regional Insights

Asia Pacific is expected to remain the largest market in the next few years. Growing commercial and residential construction sector coupled with increasing investments in infrastructure development in the region is anticipated to augment the demand for TiO2. Europe is projected to witness a lucrative growth owing to the presence of numerous automobile manufacturers in countries, such as France and Germany.

Rising preference lightweight and Electric Vehicles (EVs) in the region is likely to assist the market growth further. As per statistics of OICA, the regional market observed growth of 3.1% in automotive production for the period 2016 to 2017. North America region accounted for 15.8% of market share in 2018, in terms of volume. Growing demand for paints & coatings from the infrastructure sector in the region is expected to spur the market over the next few years.

Titanium Dioxide TiO2 is used as an interior and exterior coating in various end-use applications. In Central and South America, the demand is expected to increase due to growing Photovoltaic (PV) installation market. Titanium Dioxide TiO2 is used in the manufacturing of PV module. Government investments in R&D and rising awareness about energy conservation in the region is resulting in increased demand for PV installation, which is expected to support industry growth.