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The global titanium dioxide market is expected to witness significant growth during the forecast period (2016-2022) due to growing consumption in the paints and coatings industry, increasing demand for light weight automotive vehicles and increasing consumption in the cosmetics industry. Additionally, the growing demand from cosmetics, paints and coatings and plastics is expected to further bolster the growth in the global titanium dioxide market during the forecast period. Additionally, technological innovations aimed at improving manufacturing processes to increase product yield while ensuring high-quality is expected to have positive impact on the titanium dioxide market over the forecast period; however, stringent safety regulations by regulatory agencies owing to its carcinogenic properties may have adverse ripple effects on the growth of the global titanium dioxide market during the forecast period.
Titanium dioxide, also known as titanium (IV) oxide or titania, is a white crystalline powder, made up of ilmenite and rutile, which are used as the main raw materials. It is created using either the chloride process or sulfuric acid, referred to as the sulfate process. Titanium dioxide is extensively used as a white pigment in paints and coatings application. Also, it has a wide range of applications, ranging from paints and sunscreens to food coloring.
Based on application, the global titanium dioxide market has been categorized into paints and coatings, paper and pulp, plastics and cosmetics. Paints and coatings application segment is expected to be the largest market for titanium dioxide during the forecast period. Additionally, the application is expected to showcase significant growth during the forecast period owing to its characteristic features such as high refractive index and degree of transparency.
Asia-Pacific is expected to witness the fastest growth in the global market, during the forecast period. Growing consumption of paints and coatings, which constitutes titanium dioxide as its key component, is driving the growth of global titanium dioxide market. Additionally, expansion of the automotive industry in the Asia-Pacific region and growing investment in construction and infrastructure industry are supporting further growth in the market. Moreover, increasing disposable income and rise in livings standards have increased awareness towards personal grooming, which in turn is expected to propel cosmetic demand in the region and in turn fueling the growth of the titanium dioxide industry. The European market is expected to witness significant growth during the forecast period on account of growing demand for cosmetic products in Germany, Italy, France and the U.K. Growing urbanization, purchasing power and awareness for appearance and grooming has been driving the cosmetic industry in the region over the past few years, which has supported significant growth in the titanium dioxide market during the forecast period. Additionally, increasing demand in Europe for architectural paints, automotive coatings, industrial coatings and coil coatings is expected to have a positive impact on the global market. The surging demand for cosmetic products in South America and Middle East is expected to increase the consumption of titanium dioxide in the region during the forecast period.
Some of the key players in the global titanium dioxide market include The Chemours Company, Cristal, Kronos Worldwide INC., E. I. du Pont de Nemours and Company, Huntsman International LLC, Evonik, Argex Titanium Inc, Pangang Group Vanadium Titanium & Resources Co., Ltd., Yunnan Dahutong Industry & Trading Co., Ltd, Henan Billions Chemicals Co. Ltd. and Tronox Limited.
Global Titanium Dioxide Market Segmentation