Worldwide Titanium Dioxide Market Expected To Reach $ 17.41 Billion By 2020 With A CAGR Of 4.5%

Date: 2016-09-18

Titanium dioxide is one of the best white pigments on the market in terms of performance. Titanium dioxide is a white crystalline powder that is made up of ilmenite and rutile as main raw materials. Moreover, titanium dioxide is created from either chloride process or sulfuric acid referred to as the sulfate process. Other compounds that may be organic and inorganic in nature can even be added with titanium dioxide to impart completely different tints. It is abundantly used as a white pigment in paints and coatings applications.

The global Titanium Dioxide market was estimated at USD$ 13.97 billion in 2015, and is anticipated to reach USD$ 17.41 billion by 2020, expanding at a CAGR of 4.5% between 2016 and 2020. In terms of volume, the global titanium dioxide market stood at 6.00 million tons in 2014.

Global titanium dioxide market is mainly driven by increasing demand for lightweight vehicles in the automobile industry especially in the developed countries like US, Germany and France. Secondly, growing demand for lightweight vehicles has resulted into increase in need of paints and coatings process. This in turn has been resulted into emergence of paints and coating industry. Stringent environmental regulations are a major restraint to growth of the global titanium dioxide market.

The global titanium dioxide market on the basis of the application is segmented as paints & coating, plastics industry, paper industry and others (including artificial fibers, inks). The paints & coatings industry was the largest application segment among the other segment.  Paints and coating application accounted over 50% of the overall share of the market in 2014. Increasing construction industry is attributed to the paints and coating application is projected to propel the titanium demand during forecast period. In addition, plastic industry is one of the fastest growing applications. The growth is attributed to characteristics offered by titanium dioxide such as excellent strength, great finishing and color effects, as well as outstanding opacity of the end-product.
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Joanna | Executive – International Business and partner Relations
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