In 2019, the size of the Global Titanium Dioxide Market was valued at more than USD 17 million and is projected a growth rate of 7.5% CAGR from 2020 to 2026. The ongoing hype for self-cleaning technologies is said to provide a bigger push to the demand for Titanium Dioxide during the forecasted period.
What is Titanium Dioxide?
The chemical formula of Titanium Dioxide is TiO2. It is a white pigment and is mainly sourced from natural raw materials, such as ilmenite and rutile mineral sand. It is known for its key properties, including excellent whiteness, brightness, opacity, color retention ability, durability, and high dispersability.
The product is extensively used by paints & coatings manufacturers and plastic compounders. Besides, it is also widely used in coloring applications of food items, paper & pulp, textiles, cosmetics, and more. Since the demand for Titanium Dioxide is skyrocketing worlwide, so does the demand for Titanium Dioxide Manufacturers.
But why will the demand for Titanium Dioxide increase more in the future?
Driving Factors for Increasing Titanium Dioxide Demand
There are many factors that are playing a vital role in boosting the demand of Titanium Dioxide. Some of these are:
- Booming Paint and Coating Sector
Growing paints and coatings industry is likely to push the demand for Titanium Dioxide over the forecasted period because this chemical is widely used in the production of architectural paints, wallpaper coatings, radiator paints, plastic paints, and so on.
- Growth in the Automotive Sector
Rising automotive production and expenditure in the construction sector are the key growth parameters of this product. It is because the increasing number of vehicles in emerging nations, including China and Mexico is going to increase the demand for paints and coatings.
- Ongoing Trend of Self-Cleaning Technologies
Titanium Dioxide is extensively used in self-cleaning fabric, anti-microbial coatings for hospital infections, self-cleaning concrete, polycarbonate substrate, self-cleaning paints, and similar products. Thus, the progressive trend of self-cleaning technologies across different end-user industries will increase the product demand.
- Growth in the Purification and Cosmetic Industries
Increasing demand for water and air purification products will also drive the demand for ultrafine Titanium Dioxide. Besides, its extensive usage in cosmetic products will also increase TiO2 demand.
- Increase in Plastic Production
Asia Pacific will account for more than 40% share of the overall market in the forecasted period because of the growing plastic and paints & coatings production in China. China alone accounted for nearly 30% of global plastic production in 2016 and is likely to increase its production over the coming years.
For those businesses that need Titanium Dioxide as a raw material in their production process, it is getting easier as Titanium Dioxide Manufacturers in China who deal with businesses in UK, USA, and Canada markets can easily be found online.