Titanium Dioxide Market Key Players:
Titanium Dioxide Market mainly include: DuPont (US), Tronox Limited (US), CRISTAL (Saudi Arabia), The Chemours Company Chemours (US), NL Industries, Inc (US), and Shandong Doguide Group Co., Ltd (China). Other prominent players of TiO2 market include Argex Titanium Inc. (North America), Huntsman International LLC. (US), Evonik Industries (Germany), Tayca Corporation (Japan), and Others.
Titanium Dioxide Market Introduction:
Titanium Dioxide Market is expected to witness a significant growth of USD 44.954 Billion by 2023 with CAGR of 14.28% between by 2023.
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Titanium Dioxide Market Segment Analysis:
Titanium Dioxide Market has been segmented into application and end use industries. On the basis of application, the market has been divided into paints, coatings, plastics, photo-electrode, pigment, paper, cosmetics, food additives, and others. Among these applications paints and coatings have cover the largest market followed by plastics, photo-electrode, pigment, paper, cosmetics, food additives, and others.
Titanium Dioxide is the most important white pigment which is used primarily in the coatings industry. It is widely used because it efficiently scatters visible light, thereby imparting whiteness, brightness and opacity when applying into a coating industry. Titanium dioxide used in various type of coating industry such as architectural coating, packaging coating, transportation coating, industrial coating, and others. Above all architectural coating capture the largest titanium dioxide market share followed by industrial coating and packaging coatings.
Titanium Dioxide Market Competitive Analysis:
Major pigments & specialty pigments manufacturers are engaged in manufacturing and supplying titanium dioxide to various end use industries. The leading companies are competing to increase their footprint in the global titanium dioxide market. Manufacturers are majorly focusing on broadening their specialty pigment portfolio through extending the titanium dioxide product offerings. Moreover, major manufacturers are focusing on increasing the overall market share through acquisition of regional titanium businesses. For instance, Huntsman Corp, in 2014 acquired titanium dioxide business of Rockwood Holdings Inc. in order to acquire leading position.
Titanium Dioxide Market Regional Analysis:
Asia Pacific Titanium Dioxide Market is largest market owing to robust industry growth of application industry in China, Japan and India. Asia Pacific titanium dioxide market size is likely to witness highest gains over the forecast period. Positive stance on end-use industries such as automotive and construction industry, and others in countries like China & India is predicting to drive demand.
Europe holds the second position in global titanium dioxide market due global volume share and will witness growth because of rising need for cosmetic products in Germany, Italy, France and UK. Urbanization, higher spending power and growing awareness regarding appearance and grooming are expected to propel cosmetic industry in the region thereby driving the industry over the forecast period. North American hold third position in global titanium dioxide market the consumption has decreased remarkably during the last years, due to the decrease application of coatings consumption. Paint and coatings remains the largest outlet, accounting for highest share of consumption.
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