SAN FRANCISCO, June 5, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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
Read 93 page research report with TOC on "Titanium Dioxide (TiO2) Market Size, Share & Trends Analysis Report By Application (Paints & Coatings, Plastics, Pulp & Paper, Cosmetics), By Region (North America, Europe, APAC, MEA, CSA), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/titanium-dioxide-industry
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.
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
- Pulp & Paper
- Titanium Dioxide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Sri Lanka
- Middle East and Africa
- Central and South America
Find more research reports on Paints, Coatings & Printing Inks Industry, by Grand View Research:
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- UV Coatings Market – Increasing environmental awareness coupled with growing electronics industry is projected to drive the global UV coatings market over the forecast period.
- Xylene Market – Growing polymer and petrochemical sector coupled with increasing demand for PET, leather and rubber are expected to drive xylene market over the next six years.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc.