Opacifiers Market is projected to be worth USD 23.1 Billion by 2027, registering a CAGR of 4.8% during the forecast period (2020 - 2027).
Opacifiers Market Overview
Opacifiers Market is projected to be worth USD 23.1 Billion by 2027, registering a CAGR of 4.8% during the forecast period (2020 - 2027). The market of opacifiers comprises several stakeholders such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. Opacifier is a constituent that tends to opacify the system of which it is a part and it offers a richer appearance and increases the visual viscosity of products. The conversion of transparent products into opaque is done through three processes, called thermal expansion, crystallization, and suspended micro-bubbles.
Opacifiers are highly used in paint and coating, plastics, and personal care, increase in the use of such products has given fuel to the opacifiers market. Nowadays, the global market of opacifiers is driven by end-use industries such as construction, automotive, aerospace, electronics, and shipbuilding. An increase in the use of opacifiers is possible due to the excellent hiding properties, which improve the performance of paint and coatings. Opacifiers are heavily used in the personal care industry due to their excellent formulation compatibility and stability. The introduction of technological advancement to increase the efficiency of opaque is a significant opportunity for manufacturers.
Global Opacifiers Market, by Application (%)
Source: MRFR Analysis
The global opacifiers market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific dominated the global opacifiers market in 2021 due to the high demand from paints & coatings in construction, automotive, aerospace, and electronics. The high growth of the market in this region can also be attributed to the fast-paced industrialization and urbanization in the emerging countries such as India, Thailand, Malaysia, and Singapore.
North America accounted for the second-largest market share in 2021 on account of the high demand for opacifiers in paints & coatings, further used in the aerospace, automotive, and electronics industries in the region. The developed militarily and army strength in the US is the major driver of the high product demand for military applications in this region.
The high production and sales of automotive parts in the Western European countries such as UK, Germany, France, and Italy are expected to fuel the demand for paints & coatings, which will further drive the demand for opacifiers.
The global opacifiers market has been segmented on the basis of type, application, and region.
On the basis of type, the market has been segmented into titanium dioxide, opaque polymers, zircon, zinc oxide, cerium oxide, antimony trioxide, tin oxide, and arsenic trioxide.
By application, the market has been categorized into paints & coatings, plastics, ceramics, paper, personal care, inks, fibers, home care, glass, and others.Recent DevelopmentAccording to market analysts, 25% of global opacifiers are used in paint and coating. Asia, North America, Europe, Latin America, the Middle East, and Africa are the five regions of the global opacifier market. The opacifier market is getting growth in the countries like India, Thailand, Malaysia, and Singapore where industrialization and urbanization are emerging. Some of the manufacturers like DowDuPont, Arkema, TAYCA, and CRISTAL are leading the global market of opacifiers. The opacifier market will shape the post-pandemic-2021 conditions in social, economic, trade, and political areas. This market has reported mixed result during covid-19 for different applications. The research shows that pandemic offers different case scenarios representing the opacifier’s market growth prospects to 2028. The fast-paced recovery of developing nations from the covid impact is expected to bolster the opacifiers market demand.
Some of the manufacturers operating in the global opacifiers market are DowDuPont (US), Arkema (France), Ashland (US), TAYCA (Japan), The Chemours Company (US), Tronox Limited (US), KRONOS Worldwide, Inc. (US), CRISTAL (Saudi Arabia), Alkane Resources Ltd (Australia), En-Tech Polymer.Co.,Ltd (South Korea), and Venator Materials PLC (UK).
|Market Size||2027 : USD 23.1 Billion|
|CAGR||2027 : 4.8% CAGR|
|Forecast Period||2022 to 2027|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material Type, Application and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||DowDuPont (US), Arkema (France), Ashland (US), TAYCA (Japan), The Chemours Company (US), Tronox Limited (US), KRONOS Worldwide, Inc. (US), CRISTAL (Saudi Arabia), Alkane Resources Ltd (Australia), En-Tech Polymer.Co.,Ltd (South Korea), and Venator Materials PLC (UK).|
|Key Market Opportunities||High demand on applications such as paints & coatings, plastics, and personal care.|
|Key Market Drivers||Rapid industrialization and urbanization leading to an increased residential and commercial construction activities in the emerging economies.|
Opacifiers are additives used to bring opaqueness in transparent objects. Titanium dioxide, zircon, opaque polymers, zinc oxide, and cerium oxide are main types of opacifiers.
Paints & coatings, ceramics, plastics, paper, inks, personal care, fibers, glass, and home care, are the major applications of opacifiers.
By type, the titanium dioxide segment and by applications, the paints & coatings segment account for leading share in the global opacifiers market.
Asia Pacific holds the largest share in the global Opacifiers market, followed by Europe and North America, respectively.
Arkema (France), DowDuPont (US), Ashland (US), The Chemours Company (US), TAYCA (Japan), Tronox Limited (US), CRISTAL (Saudi Arabia), KRONOS Worldwide, Inc. (US), En-Tech Polymer.Co., Ltd (South Korea), Alkane Resources Ltd (Australia), and Venator Materials PLC (UK), are some of the major players operating in the opacifiers market.