25-July-2019: The global titanium
dioxide market size is expected to reach USD 28.19
billion by 2025 registering a CAGR of 8.7%, according to a new report by Grand
View Research, Inc. Rise in demand for paints & coatings due to expanding
construction and automotive sectors across the globe will augment the TiO2
market growth over the forecast period. Growing automotive industry due to
technological advancements in the sector coupled with rising demand for
lightweight vehicles has also contributed to the industry expansion.
Lightweight
materials used in the automotive industry contain specific amounts of carbon
fiber, which is a cost- and fuel-efficient as it helps reduce the carbon
footprint. These materials are malleable, remolded, and reshaped, which results
in low-cost production. These factors are expected to boost the market growth
in the next few years. The photovoltaic method converts solar energy into
direct current electricity using materials, such as TiO2 and amorphous silicon.
Energy generated from the solar PV is considered as sustainable energy and
renewable source making it cost-effective.
The demand for
electricity is increasing rapidly with the rising world population. In
developing countries like China, India, Indonesia, and Malaysia, the demand for
energy conservation is high due to urbanization and industrialization.
Increasing demand for sustainable energy sources is expected to have a positive
impact on the market in the next couple of years. Titanium dioxide particles
have wide application scope due to their high stability, photocatalytic
properties, and anti-corrosive nature and are manufactured from anatase. They
are used in consumer products, such as sunscreens, and as components for
articulating implants for the hip and knee.
These nanoparticles
are also used as catalyst in semiconductor photocatalysis, water treatment
plants, and as a photoactive material in nanocrystalline solar cells. Other
applications in self-cleaning tiles, textiles, windows, and anti-fogging car
mirrors are expected to support the market growth over the forecast period.
However, dust particles of the product are grouped under 2B carcinogens by
IRAC. Thus, stringent regulations are projected to have a negative impact on
the market growth.
In
depth research report on Titanium Dioxide (TiO2) Market
Further key findings from the study suggest:
·
In terms of revenue, paints & coatings is anticipated to
be the largest application segment reaching at USD 16.40 billion by 2025
·
On the other hand, the plastics application segment is
anticipated to register the highest CAGR of 9.3% from 2019 to 2025
·
Asia Pacific is anticipated to be the largest and
fastest-growing regional market over the next few years
·
In terms of revenue, Middle East & Africa is also
anticipated to witness a lucrative growth due to rising number of construction
projects in the region
·
Some of the key companies in the global titanium dioxide
market are Cristal Global; Kronos Worldwide, Inc.; Huntsman Corp.; The Chemours
Company; and Tronox Limited
Grand View Research
has segmented the global titanium dioxide market on the basis of application
and region:
Titanium Dioxide Application Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Paints & coatings
·
Plastic
·
Pulp & Paper
·
Cosmetics
·
Others
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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