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.
Access Research Report of Titanium Dioxide
Market @ https://www.grandviewresearch.com/industry-analysis/titanium-dioxide-industry
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
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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
