March 23, 2022 11:09 ET | Source: Facts & Factors Facts & Factors
London, UK, March 23, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “[195+ Pages Report] According to Facts and Factors, the global titanium dioxide market is expected to increase at a compound annual growth rate (CAGR) of 5.6% during the projection period between 2022 and 2028. The valuation for the titanium dioxide market was USD 18.8 billion in 2021 and it is expected to cross USD 27.2 billion, by 2028. The report explores various factors and their implications on the titanium dioxide market’s growth.” in its research database.
“According to the latest research study, the demand of global Titanium Dioxide Market size & share was worth at around USD 18.8 billion in 2021 and by 2028, it is predicted to reach USD 27.2 billion, at a compound annual growth rate (CAGR) of about 5.6% during the forecast period 2022 to 2028.” The report explores various factors and their implications on the titanium dioxide market’s growth.
What is Titanium Dioxide? How big is the Titanium Dioxide Market?
Titanium dioxide (TiO2) is a white powdered chemical substance that is used to create dazzling white pigmentation. This mineral is used in a wide range of industrial and consumer products, including paints & coatings, paper, plastics, textiles, cosmetics, food colorants, and others. It is also used as a pigment in paints and coatings used in the construction and automotive industries, where it is employed as roofing and floor coverings, as well as for styling and coating automobile goods and printing inks. Rising construction activity in emerging regions as a result of population increases can be linked to the high demand for titanium dioxide for paints and coatings applications.
Furthermore, the increasing use of rubber and plastic in a variety of consumer products is fueling growth. The current spread of the COVID-19 is also a contributing factor to the high growth of health equipment, such as insulin pens, respiratory devices, gloves, IV bags, and miniature implants, in which the mineral can be used for coloration of the aforementioned plastic-based products, thereby driving this market forward.
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What are the Factors Driving Demand for Titanium Dioxide?
Over the forecast period, the rising global paints and coatings sector is expected to increase titanium dioxide market demand. In the industry, the product is widely used to make architectural paints, coatings, wallpaper, plastic paints, radiator paints, and so on. Rising automobile production and construction spending will be important growth drivers for the paints and coatings industry, boosting titanium dioxide demand in the coming years. Another significant growth enabler is the growing trend of self-cleaning technology in numerous end-use sectors around the world. Self-cleaning cloth, antibacterial coverings for hospital infections, self-cleaning pavement, self-cleaning paints, polycarbonate substrate, and more applications are possible for this product.
However, the primary limitation to the titanium dioxide market is its variable prices, which are expected to impede industry expansion over the anticipated time period. Historically, the product's price has fluctuated significantly due to major changes in supply and demand. Such patterns have resulted in TiO2 price volatility, which will have an impact on the titanium dioxide market's development in the next few years.
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Competitive Landscape: Some of the main competitors dominating the global titanium dioxide market are;
Key Insights from Primary Research:
Titanium Dioxide Industry - Report Scope
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Global Titanium Dioxide Market Segmentation:
The global titanium dioxide market is segregated on the basis of type, method, end-use, and region.
By type, the market is divided into anatase and rutile. In 2020, the rutile category led the market with a profit share of more than 75%. This tendency is set to continue during the forecasting period. By method, the market is segmented into chloride and sulfate. The sulfate segment leads the market because of the simpler and more cost-effective way of manufacturing titanium oxide.
By end-use, the market is classified into textiles, printing inks, pulp & paper, food additives, plastics & rubber, paints & coatings, cosmetics, and others. Due to the sheer growth in demand for automobiles and growing building activity, the paints & coatings segment dominates the market.
Because of rising consumer demand for sunscreens with increased UV protection, expansion in the automotive industry, and the presence of important market players in the area, North America is likely to account for the biggest revenue share in the global titanium dioxide market over the forecast period. Asia-Pacific is predicted to grow at a high pace over the forecast period, owing to an increase in the number of infrastructure projects, rapid urbanization, considerable growth in the automotive sector, and growing preference for paints & coatings in the region's countries.
Increasing investments in modernized, state-of-the-art commercial & residential buildings, increasing development in end-use industries such as plastics, cosmetics, and paints & coatings to meet growing demand, and increasing access to raw materials at cost-effective rates are some of the other factors contributing to the APAC market's revenue growth.
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The global titanium dioxide market is segmented as follows:
Browse the full “Titanium Dioxide Market By Type (Anatase and Rutile), By Method (Chloride and Sulfate), By End-Use (Textiles, Printing Inks, Pulp & Paper, Food Additives, Plastics & Rubber, Paints & Coatings, Cosmetics, and Others), and By Region-Global and Regional Market Overview, Market Insights, Holistic Analysis, Historical Data, and Forecast 2022–2028” Report at https://www.fnfresearch.com/titanium-dioxide-market
Key Questions Answered in this Report:
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