The global titanium dioxide (TiO2) market is expected to reach USD 66.9 billion by 2025, according to a new report by Grand View Research, Inc. The titanium dioxide market is anticipated to witness growth owing to increasing use as specialty coating material in automobiles and PV systems. Growing consumption of whitening pigments in paints & coatings industry is expected to fuel growth over the forecast period. Increasing spending on cosmetics in emerging economies of BRICS on account of growing awareness regarding personal hygiene is expected to drive product demand over the forecast period. Also, increasing demand for lightweight automotive, particularly in developed countries, is anticipated to have a positive impact on the sector over the next nine years.
Ilmenite, titanium-iron oxide mineral was primarily used in the product manufacturing. The emergence of new raw materials including rutile, synthetic rutile, and upgraded slag along with ample availability is expected to result in continuous feedstock supply thus driving TiO2 market growth over the forecast period.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/titanium-dioxide-industry
Further key findings from the report suggest:
·
The global titanium dioxide market was estimated
at over 7,400 kilo tons in 2015 and is anticipated to grow at a CAGR of more
than 9% from 2016 to 2025
·
The largest application segment was paints &
coatings accounting for more than 50% of revenue in 2015. The product finds its
use in interior architectural paint & coatings application on account of
maximum hiding power. Exterior applications require gloss and tint retention,
self-cleaning ability and sustainability of atmospheric conditions.
·
There is an increase in the need for the product
in industrial coatings on account of opacity, exterior durability,
acid-catalyzed coatings and film curing properties. Surging demand from paints
& coatings sector is expected to augment industry growth over the forecast
period
·
The demand for the product in plastics
application was valued around 1,700 kilo tons in 2015. The increasing use of
plastics in the manufacturing of doors and windows is expected to have a
positive impact on the industry over the next nine years
·
Europe was the second largest market with
revenue estimated at over USD 5 billion in 2015. Growing personal care industry
in UK, Germany, Italy and France is expected to drive titanium dioxide demand
over the forecast period. The introduction of novel gender-specific products is
anticipated to fuel personal care and cosmetics market which in turn will
augment product demand over the next nine years
·
Asia-Pacific is expected to witness the fastest
growth at a CAGR of over 15% from 2016 to 2025 on account of surging demand
from paint & coatings and pulp & paper industries. Growing popularity
of multinational brands including Avon, Aveda, and Revlon in China and India is
expected to augment demand over the forecast period. Also, the increasing
popularity of personal care products for male population is anticipated to
propel industry growth over the forecast period
·
There are few major players in the market
accounting for around 50% of the share making the industry consolidated. These
companies highly invest in R&D for the introduction of new cost-effective
manufacturing routes. In January 2014, Cristal formed a joint venture with Toho
Titanium Company Ltd. to produce titanium sponge at a competitive cost resulting
in integration across the value chain
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/personal-care-and-cosmetics
Grand View Research has segmented the global titanium dioxide market on the basis of application and region:
Titanium dioxide application outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Paints & coatings
·
Plastics
·
Pulp & paper
·
Cosmetics
·
Others
Titanium dioxide regional outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
·
Latin America
o
Brazil
·
MEA
o
UAE
For press release of this report - http://www.grandviewresearch.com/press-release/global-titanium-dioxide-market
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