Lucintel anticipates that Asia Pacific will be the fastest growing region in the titanium dioxide market
According to a new market report published by Lucintel, the future of the global titanium dioxide market looks promising with opportunities in paint and coatings, plastics, paper, and other sectors. The global titanium dioxide market is expected to reach an estimated $18.2 billion by 2021 and is forecast to grow at a CAGR of 3.4% from 2016 to 2021.
The major growth drivers for this market are growing demand for titanium dioxide in end use industries like paint and coatings, www.lucintel.com/chemical_market_r…stics_resins.aspx, and others. Technological innovations aimed at improving manufacturing processes to increase product yield with higher quality is expected to have a positive impact on the titanium dioxide pigment market.
In this market, paint and coatings, plastics and paper are the major application industries of titanium dioxide. On the basis of our comprehensive research, Lucintel forecasts that the plastics end use segment is expected to show above average growth during the forecast period.
Within the global titanium dioxide market, the paint and coatings segment is expected to remain the largest market. Increasing demand for architectural and industrial coatings in the developing countries of Asia Pacific, particularly China and India, has presented sound opportunities for titanium dioxide in the paint and coatings industry, which would spur growth for this segment over the forecast period.
The rutile segment is expected to remain the largest market by product form because it has highest refractive indices at visible wavelengths, and efficiently scatters visible light, thereby imparting whiteness, brightness and opacity when incorporated into a coating. Therefore, its demand is increasing across a number of applications.
Asia Pacific is expected to remain the largest market due to growth of end use industries, such as paint and coatings, plastics, and paper. Asia Pacific is expected to witness above average growth over the forecast period due to economic expansion in India and China and growing consumption of paints & coatings particularly in the automotive and construction industry.
For business expansion, Lucintel’s report suggests innovations and new product development, to develop products that exhibits better opacity, gloss, wetting and dispersibility, and lower energy requirements. The report further suggests the development of partnerships to create win-win situations and the development of low-cost solutions for end users.
Emerging trend, which have a direct impact on the dynamics of the market, include development of Argex technology. The Chemours Company, Huntsman Corporation, The National Titanium Dioxide Company, Ltd.
(Cristal), KRONOS Worldwide, Inc., and Tronox Limited are among the major suppliers of titanium dioxide.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global titanium dioxide market by application type, product form, and region, and has come up with a comprehensive research report entitled, “Growth Opportunities for the Glob…rtunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global titanium dioxide market by application type, product form, and region, as follows:
By application type [Volume (Million Pounds) and $ Billion Shipment from 2010 to 2021]:
- Paint and Coatings
By Product Form [Volume (Million Pounds) and $ Billion Shipment from 2010 to 2021]:
By region [Volume (Million Pounds) and $ Billion Shipment from 2010 to 2021]:
- North America
- Asia Pacific
- The Rest of the World
For more information:Make an Inquiry about this report HERE!