Titanium Dioxide Market Opportunity Analysis and Industry Worth USD 39.92 Billion in 2032
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Market Size – USD 22.40 Billion in 2022, Market Growth – at a CAGR of 5.9%, Market Trends – Rising demand for lightweight vehicles
VANCOUVER, BRITISH COLUMBIA, CANADA, May 18, 2023 /EINPresswire.com/ -- The global titanium dioxide market size is expected to reach USD 39.92 Billion in 2032, and register a revenue CAGR of 5.9% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for lightweight vehicles can be attributed to the steady market revenue growth. Motorcycles and cars have used titanium and its alloys to lighten the weight of the parts that make them up.
Titanium exhaust systems, engine valves, and connecting rods have all seen significant use recently, mostly in sports or big motorcycles. For engine valves and connecting rods, in addition to Ti-6Al-4V, Fe is employed as an affordable and typical alloying element in Ti-Al-Fe alloys. Gr.2 commercially pure titanium sheets have initially been primarily employed in exhaust systems, such as mufflers, due to their high degree of cold formability. In addition, numerous titanium alloys with Cu, Al, Si, and Nb additions have been actively developed to enhance strength, creep qualities, oxidation resistance, and other characteristics at high temperatures, as service.
One of the key drivers of the titanium dioxide market is the growing demand for high-performance coatings. Titanium dioxide is a key ingredient in many high-performance coatings, which are used in a range of applications, including automotive, aerospace, and marine coatings. These coatings offer a range of benefits, including increased durability, resistance to corrosion, and improved weather resistance. As a result, the demand for high-performance coatings is expected to continue to grow, driving demand for titanium dioxide.
Another driver of the titanium dioxide market is the increasing use of the pigment in the food and pharmaceutical industries. Titanium dioxide is used as a whitening agent in a range of food and pharmaceutical products, including toothpaste, sunscreen, and candies. The use of titanium dioxide in these products is driven by consumer demand for brighter, more visually appealing products. However, the use of titanium dioxide in food and pharmaceuticals has become increasingly controversial, with concerns over the safety of the pigment.
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Competitive Landscape:
The leading companies operating in the Titanium Dioxide market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Titanium Dioxide market and pinpoint the fundamental growth trends.
Leading companies profiled in the report are:
The Chemours Company, Tronox Holdings plc, LB Group, Venator Materials PLC., Kronos Worldwide, Inc., Ineos Group Ltd., Cinkarna Celje DD, Evonik Industries AG, TAYCA Co., Ltd., Iluka Resources
Some Key Highlights From the Report
On 14 September 2021, a shareholder agreement was signed by Minerals Development Oman (MDO) to build a titanium dioxide-producing facility in the Sohar Free Zone. The industrial facility will cover more than 120,000 square meters, cost OMR43 million, and have a capacity of 150,000 tons annually. More than 300 jobs will be available owing to the initiative. According to the deal, MDO will possess 35% of the project's shares, with the rest shares being owned by strategic partners, most notably Stork International, a major producer of titanium dioxide-related goods that are mostly used in the pigment business.
The rutile segment is expected to account for a significantly large revenue share in the global market over the forecast period owing to its various benefits. Rutile titanium dioxide has replaced every other white pigment on the market and is widely used in the paint and coatings sector. In addition, toys, electronics, cars, furniture, packaging, and other plastic goods are colored using rutile titanium dioxide. By absorbing some Ultraviolet (UV) radiation, the titanium dioxide pigment protects the material. Since rutile titanium dioxide is non-toxic, has strong photocatalytic activity, and is highly transparent, it is used in coatings and products for indoor air purification. Rutile titanium dioxide can either kill bacteria or stop them from reproducing by using photocatalysis, which gives it antibacterial qualities.
The paints & coatings segment is expected to account for a significantly large revenue share in the global market over the forecast period. The white powder makes up the titanium dioxide pigment. In paintings, it provides the maximum opacity and whiteness. As a result, paint is given a high concealing power, or the ability to hide or mask the underlying substrate. No other white pigment fulfills this role as effectively as it does. Titanium dioxide pigment is the most important component now used by the paint industry for opacity and whiteness. These unique properties are a result of the refractive index of titanium dioxide. According to the refractive index, light can be twisted and scattered with ease. Titanium dioxide has the greatest refractive index of any material known to man, surpassing even diamond. The fine, uniform particle size of titanium dioxide must be obtained through mining, processing, and grinding.
Market Segmentation by product type:
Grade Outlook (Revenue, USD Billion; 2019–2032)
Rutile
Anatase
Process Outlook (Revenue, USD Billion; 2019–2032)
Chloride
Sulfate
Application Outlook (Revenue, USD Billion; 2019–2032)
Paints & Coatings
Plastics
Paper
Inks
Others
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Major Regions Covered in the Titanium Dioxide Market Report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Reasons to Buy This Report:
The report presents a thorough examination of the Titanium Dioxide market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
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