Titanium Dioxide Market Top Key Players
Chemours Company, 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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Global titanium dioxide Market Analysis:
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 manufacturers are inclined to use PVC plastics. PVC materials are usually coated with titanium dioxide, in order to enhance the wear resistance, scratch 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 a stringent regulatory framework in place in developed regions, the global titanium dioxide production is anticipated to be hampered.
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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 industries 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.
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