(MENAFN- GlobeNewsWire - Nasdaq) Rising investments in chloride production methods are expected to fuel the titanium dioxide (TiO2) market expansion in the next years.Westford, USA, Oct. 09, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Titanium Dioxide Market will reach a value of USD 37.08 Billion by 2031 , with a CAGR of 5.9% during the forecast period 2024 to 2031. The growth and rising investments in chloride production methods are expected to fuel the titanium dioxide (TiO2) market expansion in the next years. TiO2 finds extensive use in paint and coating applications. Numerous end-use applications, such as automotive coatings, aircraft coatings, marine coatings, and architecture & decorative coatings, use TiO2 in combination with other coloured pigments. Increased building activity is driving up paint and coating demand, which in turn is driving up TiO2 demand.
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Pages – 197
Tables – 95
Figures – 76
Titanium Dioxide Market Report Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 22.13 Billion |
| Estimated Value by 2031 | USD 37.08 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.9% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Grade, Process, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Innovative applications and lightweight vehicle demand |
| Key Market Opportunities | Increased use of ultrafine particles of titanium dioxide in cosmetics and construction industries |
| Key Market Drivers | Lightweight vehicles and technological innovations |
Rutile Grade to Hold Significant Growth due to High Refractive Index and Excellent Durability
Rutile grade titanium dioxide accounts for a majority of the global titanium dioxide market owing to its properties such as high refractive index and excellent durability which make it suitable for uses in paints, coatings and plastics among other uses. The growing demand for high-performance products encourages manufacturers to adopt more rutile grades than other grades, thus increasing production and market share in the global titanium dioxide market.
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Sulphate Process to Lead the Market due to Cost-Effectiveness and Ability to Produce High-Quality Products
In the global titanium dioxide market, the sulfate process is the most widely used owing to its economical features to produce quality goods with comparable properties. This process produces lesser contamination, improving the pigment's use in end products like paint and coatings. As a result, the sulfate process is preferred by manufacturers, contributing to its pervasive use and reinforcing its market dominance.
Asia Pacific to Dominate the Market due to Rapid Industrialization & Urbanization
Due to fast industrial development and urbanization, coupled with a growing need for quality pigments in the construction and auto industries, the demand for titanium dioxide is highest in the Asia Pacific region. These factors contribute to strong economic growth and increased consumer expenditure. The region therefore draws several investments, which enhances the ability to produce and maintains the leading market position.
Titanium Dioxide Market Insights
Drivers:
Growth in the Electronics Sector
Titanium Dioxide's Utility in Textiles
Increasing Renovation Activities
Restraints:
High Cost of Producing Titanium Dioxide
Concerns Over the Environmental Impact of Titanium Dioxide
Presence of Alternative Pigments
Prominent Players in Titanium Dioxide Market
Chemours Company (USA) Huntsman Corporation (USA) Titanium Metals Corporation (TIMET) (USA) Tronox Holdings plc (USA) Lomon Billions Group (China) Shandong Dongjia Group (China) Tayca Corporation (Japan) Kronos Worldwide, Inc. (USA) NL Industries, Inc. (USA) Venator Materials PLC (UK)
Key Questions Answered in Global Titanium Dioxide Market Report
What is the projected value of the Market by 2031, and what is the expected CAGR during the forecast period? Which regions are covered in the Titanium Dioxide Market report, and what is the main process that dominates the titanium dioxide production? What are some key market drivers for the titanium dioxide industry mentioned in the report?
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This report provides the following insights:
Analysis of key drivers (Rising demand for lightweight vehicles, innovations in production processes, higher quality & more efficient manufacturing), restraints (Fluctuations in raw material price, stricter regulations on mining and production, potential health risks associated with titanium dioxide inhalation), opportunities (Innovations in production techniques, increasing industrialization in international regions, sustainable product developments), and challenges (Geopolitical issues and logistical challenges, negative perceptions surrounding the safety & environmental impact) influencing the growth of titanium dioxide market.
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the titanium dioxide market. Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the market. Market Development: Comprehensive information on lucrative emerging regions Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia-Pacific.
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