Pune, India, December, 2017/MRFR Press Release/- Market Research Future Published a Half Cooked Research “Global Titanium Dioxide Market Research Report - Forecast to 2023” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.
Titanium Dioxide Market – Market Overview
Global titanium dioxide market is driven by increasing demand for lightweight vehicles, growing global plastic production, surging demand for paints & coatings in construction an other industries. Among these factors increasing demand of lightweight vehicles is expected to have high impact on the global titanium oxide market demand. Owing to stringent regualtions on fuel efficiency by governments and regulatory agencies across the globe, manufacturers are focusing on using lightweight materials in the automobile production. For instance, instead of using metals manufactureres are inclined to use PVC plastics. PVC materials are usually coated with titanium dioxide, in order to enhance the wear resistance, scrathc resistance, and other mechenical properties. As the fuel efficiency standards are getting stringent, expected growing demand for lightweight vehicles will drive the global titanium dioxide market
Titanium dioxide is priominently used in end-use industries namely, paints & coatings, plastics, varnishes, and paper. Among these paints & coatings is the leading end-use industry, acounting for around 50% of the overall consumption of titanium dioxide. Titanium dioxide is an essential ingredient in paint & coatings, as it enhances opaqueness of paints. Growing paints & coatings market, due to increasing construction activities in Asia-Pacific and other developing regions. Moreover, global plastic production is increasing, due to increasiong penetration in various applications namely, consumer goods, automotive, electronics, construction. Titanium dioxide demand is geared with the global plastic production.
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.
Chemours Compnay, DowDuPont Inc., Kronos Worldwide, CRISTAL, Huntsman Corp., Evonik Industries, Argex Titanium Inc., Pangang Group Vanadium Titanium & Resources Co., Ltd., Yunnan Dahutong Industry & Trading Co., Ltd and Tronox limited.
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Titanium Dioxide Market - Competitive Analysis
Major pigments & specialty pigments manufacturers are engaged in manufacturing and supplying titanium dioxide to various end use industries. The leading companies are competing to increase their footprint in the global titanium dioxide market. Manufacturers are majorly focusing on broadening their specialty pigment portfolio through extending the titanium dioxide product offerings. Moreover, major manufacturers are focusing on increasing the overall market share through acquistion of regional titanium businesses. For instance, Huntsman Corp, in 2014 acquired titanium dioxide business of Rockwood Holdings Inc in order to acquire leading position.
Industry/ Innovation/ Related News
Feb 2017: Tronox, a global chemcial manufacturer entered into an agreement to acquire TiO2 business of Cristal. The later is a subsidiary of Tasnee (Saudi Arabia). The resulatant company is estimasted to be the most diversified and integrated producer of titanium oxide, with total production capacity of 1.3 million metric tonnes. This will provide titanium dioxide end-users, a diversified paltfaorm for titanium dioxide products.
Feb 2017: Cathay Industries Australia, an Asutralian manufacturer of iron oxide pigment and Chemours, a global titanium dioxide manufacturter entered an distribution agreement. Former has agreed to distribute th e titanium oxide pigments in the Australia, New Zealand, and pacific Islands. By this move, chemours aiming to strengthen its global presence in order to reamin competitive in the global titanium dioxide market.
Oct 2014: Huntsman Corp., a global leading supplier of oxide pigmnets acquired Rockwood Holding Inc’s Performance additives and titanium dioxide business. The company, beeter its postion in the global titanium dioxide market and broaden its portfolio. Through the acquisition of titanium dioxide, company strengthen its business in specialty chemical market.