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Titanium Dioxide Market to Expand to US$17.12 billion by 2020 at a Low CAGR
Titanium Dioxide Market for Paints & Coatings, Plastic, Paper and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Published 23 September 2015
The global titanium dioxide market is projected to expand at a 3.8% CAGR between 2014 and 2020, a latest report by Transparency Market Research says. The report pegs the global market for titanium dioxide at US$ 17.12 billion by 2020, growing marginally from its value of US$ 13.14 billion in 2013. These findings are reported in a study titled, Titanium Dioxide Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.’Titanium dioxide is an inorganic material characterized by its poor solubility and high thermal stability. The material is derived from mineral sources such as rutile and ilmenite, both of which thus become predominant raw materials for the global titanium dioxide market. Being an integral coating material used on polycarbonates, titanium dioxide will likely witness higher demand as the automotive industry increasingly turns toward light-weight vehicles that use polycarbonates to replace glass and metals. The trend for light-weight vehicles is expected to gain a firm foothold in the global automotive materials market as fuel-efficiency becomes even more important. However, vehicle manufacturers are still hesitant to completely switch over to polycarbonates given their low scratch-resistance. This factor will hamper the market to a significant degree.
The report further identifies emerging opportunities and helps readers understand how they could monetize them. One opportunity that the report features is: Titanium dioxide nanoparticles are witnessing higher demand; companies offering such solutions can capitalize on the emerging demand trends. Although the demand for titanium nanoparticles is expected to rise, the reportedly carcinogenic properties of the material and several regulatory restrictions relating to its use will impede the overall growth of the global titanium dioxide market.Another opportunity that companies can capitalize on is the increasing use of titanium-dioxide-based coatings in photovoltaic modules so as to improve the operational efficiency of such modules. With the photovoltaics and solar energy market demonstrating exceptional growth rates, the demand for titanium dioxide in this application will be high.
The report segments the titanium dioxide market, based on application, into: Paints and coatings, paper, plastic, and others. The others segment is composed of inks and artificial fibers. The paints and coatings industry was the largest consumer of titanium dioxide in 2013, constituting a little over 50% of the market share. This application segment will continue its stronghold over the larger titanium dioxide market. Market analysts observe that the plastics industry is increasingly making use of titanium dioxide (especially so for packaging and automotive components). This will be the key factor responsible for plastics being the fastest-growing application segment in the global titanium dioxide market.The global titanium dioxide market was dominated by Asia Pacific, which accounted for a market share of over 40% as of 2013. The region’s predominance will continue over the next few years, supported by the massive demand for titanium dioxide from industries in China and India.
Browse the full Titanium Dioxide Market for Paints & Coatings, Plastic, Paper and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/titanium-dioxide-market.html
An analysis of the competitive landscape of the titanium dioxide market shows that it is consolidated with more than 50% of all revenues being generated by the top four companies as of 2013. The leaders in the titanium dioxide market are: DuPont, Kronos Worldwide, Cristal Global, and Tronox Limited.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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