Stratview Research has published a new report titled “Titanium Dioxide Market” which is segmented by Process Type (Sulfate and Chloride), by Grade (Rutile and Anatase), by Product Type (Pigmentary and Ultrafine), by Application Type (Food, Paints & Coatings, Paper & Pulp, Plastics & Rubber, Cosmetics, Printing Inks, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

As per the study, the titanium dioxide market was estimated at USD 22.26 billion in 2022 and is likely to grow at a CAGR of 5.77% during 2023-2028 to reach USD 31.24 billion in 2028.

What is titanium dioxide?

Titanium Dioxide (TiO2) is a white-pigmented compound widely used in various applications including plastics, paper, cosmetics, paints, and other industries. This compound has unique light-scattering properties, chemical stability, and a high refractive index, making it a valuable ingredient in numerous products. Titanium dioxide plays a vital role in several industries, primarily as a pigment, UV absorber, and photocatalyst.

COVID-19 IMPACT

The titanium dioxide market was negatively impacted due to the COVID-19 pandemic in the year 2020. There was a complete halt in manufacturing and construction activities resulting from labor shortage and disruption in the supply chain. This majorly affected the demand from various sectors, like paints and coatings, plastics, cosmetics, etc.

Market Dynamics

Titanium Dioxide’s unique properties make it indispensable in a variety of applications. Owing to its properties and wide range of applications, there are several factors expected to drive growth in the global titanium dioxide market. Below given are a few -

  • Growing construction sector – The global construction industry including both residential and non-residential infrastructure is growing rapidly and is expected to more than double in size between 2020 and 2030. Since titanium dioxide is used in a variety of applications in the construction sector, growth in the global titanium dioxide market is expected with the growing construction sector.
  • Growing demand from the paints and coatings industry – Titanium dioxide is one of the major components in paints and coatings used in multiple sectors including automotive, consumer goods, etc. The growing demand for paints and coatings from all these sectors is substantially driving the market.
  • The rapid adoption of ultrafine particles of titanium dioxide in cosmetics – Ultrafine titanium dioxide, also called nanoscale titanium dioxide has excellent transparency, and more effective ultraviolet (UV) scattering and absorbing properties. Ultrafine titanium dioxide when used in various applications in the cosmetics industry, such as creams, loose and pressed powders, eyeshadows, sunscreens, etc. provides flawless effect and better protection against harmful sun rays. Owing to such benefits, more and more cosmetic makers are demanding titanium dioxide.
  • Stringent regulations across the globe – Governments across the globe are imposing stringent environmental regulations on the use of certain chemicals in paints and coatings that are harmful. This drives the market for titanium dioxide since this is one of the safest and most environmentally friendly components.

Key questions answered by the report.

-        What is the projected CAGR for revenue from the Titanium Dioxide Market during the forecast period?

-        What is a major driving factor for the growth of the market?

-        Which region accounted for the largest revenue share in the Titanium Dioxide Market?

-        Which are the major market players?

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