Titanium Dioxide Market Growth, Analysis and Forecast 2023
Titanium Dioxide Market Overview:
Titanium dioxide is the result of a natural oxidization and is available in three forms like anatase, rutile, and brookite. The compound is one of the whitest materials on earth that finds prolific utility as pharmaceuticals, paints, coatings, cosmetics, plastics, paper, foods, and various other. This is expected to drive the global titanium dioxide market ahead with a 14.28% CAGR during the forecast period (2016-2023). Market Research Future (MRFR) reveals a possibility for the market to attain USD 44.954 billion by the end of 2023.
Factors to impact the global titanium dioxide market are end-users like automobile and construction industries that can substantially pull the market ahead. On the other hand, its highest refractive index makes it the choicest preference for a lot of companies. However, its carcinogenic properties and volatile prices can deter the expected market growth.
Titanium Dioxide Market Segmentation:
MRFR has made an in-depth analysis of the global titanium dioxide market trends to unravel the potential of several factors that are expected to support the market in the future. The process includes a detailed segmentation comprising application and end users.
Based on the application, the global titanium dioxide market analysis can be segmented into coatings, plastics, paints, paper, photo-electrode, pigment, food additives, cosmetics, and others. In many industries, titanium dioxide is gaining easy access due to its wide-scale utility as coatings. It has found a way into the cosmetics industry in recent times and the segment is expected to fetch in considerable revenue.
Based on the end-user, the titanium dioxide market includes automotive, personal care, construction industry, pharmaceutical, food & beverages, and others. The automotive segment is expected to provide robust traction as titanium dioxide is pervading the market as a good coating of metals.
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Titanium Dioxide Market Competitive Landscape:
A number of companies are showing their keen interest in the global titanium dioxide market growth. Their strategic moves are expected to bolster the holistic growth of the market. These companies have been profiled by MRFR for a thorough study of the probable trends that can impact the market in the future. These companies are Tronox Limited (US), DuPont (US), The Chemours Company Chemours (US), CRISTAL (Saudi Arabia), Shandong Doguide Group Co., Ltd (China), NL Industries, Inc (US), Huntsman International LLC. (US), Argex Titanium Inc. (Canada), Tayca Corporation (Japan), Evonik Industries (Germany), and others.
Titanium Dioxide Market Regional Analysis:
North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA) are four distinct regions that have been included in a geographical study of the global titanium dioxide market. This region-specific analysis has its focus set on revealing growth pockets that can be beneficial for the expansion strategies of various companies.
The APAC market is the largest region-specific market with high tractions from various end-user segments like construction, automobile, pharmaceuticals, and others. Its diverse application like paints, plastics, photo-electrode, pigment, paper, and others find easy ingress path in the region due to the ongoing revamping of industrial sectors across emerging economies. China has the upper-hand in the market and Japan closely follows their lead.
Europe is ranked second in the global study of the titanium dioxide market. This is primarily due to the robust automobile industry and remarkable personal care industry. North America stands in the third place with its construction industry to back up the regional need for titanium dioxide market. In the region, the USA and Canada are doing extremely well as they host a large number of market titans. Latin America and Middle East can rely on titanium dioxides applications as additives, pigment, paper, cosmetics, and others.
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