Titanium Dioxide Market to be Driven by the Increasing Utilisation of Pigment-Grade Titanium Dioxide in the Cosmetics in the Forecast Period
The new report by Expert Market Research titled, ‘Global Titanium Dioxide Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global titanium dioxide market, assessing the market based on its segments like applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Volume (2020): 4.6 Million Metric Tons
• Forecast CAGR (2021-2026): 2.82%
The increasing utilisation of pigment-grade titanium dioxide in the cosmetics, owing to the ability of the product to aid blemishes and bolster the brightness of skin, is driving the market growth. In addition to this, titanium dioxide can also absorb UV radiations. In this regard, the increasing sales of sunscreens and skin-care products is propelling the demand for titanium dioxide. Moreover, titanium dioxide is crucial in the paper industry as it brightens the paper and makes it opaquer. Hence, the increasing demand for paper in the education sector is anticipated to propel the market growth in the forecast period. Titanium dioxide is important in the food industry for food colouring, protecting food from UV rays, and acting as a filler in various dishes. Hence, North America accounts for a significant share in the market owing to the thriving food and beverage industry.
Industry Definition and Major Segments
Titanium dioxide, also known as titania, is an oxide of titanium which occurs naturally from sources, such as ilmenite, rutile, and anatase. Titanium dioxide is white, opaque, odourless, tasteless, and absorbent, and is widely used in the products such as paints, coatings, papers, inks, and powder, among others.
Based on application, the market can be segmented into:
• Paints and Coating
The regional markets for titanium dioxide include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Titanium dioxide is crucial in the construction sector as it can remove pollutants from a building and is a key ingredient in the paints and coatings. Hence, the increasing investments in the residential and commercial construction businesses are the key trends propelling the market growth. Meanwhile, titanium dioxide is a versatile compound, which is used in the manufacturing of products such as toothpaste, inks, plastic, and medicines, among others. Therefore, the thriving e-commerce industry, which is propelling the sales of various downstream products of titanium dioxide, is anticipated to be another crucial trend in the market. Furthermore, the increasing demand for plastics and paints and coatings owing to the growing expansion of the do-it-yourself sector is likely to spearhead the market growth in the coming years.
Key Market Players
The major players in the market are The Chemours Company LLC, Venator Materials PLC, KRONOS Worldwide, Inc., Tronox Holdings PLC, LB Group Co Ltd, Shandong Doguide Group Co., Ltd, Nanjing Titanium Dioxide Chemical Co., Ltd., and Ningbo Xinfu Titanium Dioxide Co., Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.