(EMAILWIRE.COM, February 08, 2023 ) The global Titanium Market size is expected to grow from USD 24.7 billion in 2021 to USD 33.5 billion by 2026, at a CAGR of 6.3% during the forecast period. Titanium dioxide are increasingly used for printing inks, paints & coatings, plastics and other applications. The increasing demand from automobile industry for sharper and brighter colors along with construction industry drives the demand for titanium dioxide. However, the outbreak of COVID-19 has created ripples across various application industries leading to reduced demand for titanium dioxide, but the market is seeing an upward curve and is expected to reach the pre-covid levels within a couple of years.
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Titanium dioxide is available particularly in the anatase crystal or synthetic rutile grade form. Rutile titanium dioxide is mainly used in coatings, plastics, and inks because it has better optical properties, whiteness, brightness, and other properties. Anatase is mainly used in chemical fibers, paper making, and some indoor coatings. Paints & coatings is the largest end-use industry of titanium dioxide in terms of value. Rapid growth in the automobile and construction industries is expected to fuel the demand for titanium dioxide in the paints & coatings end-use industry
The paints & coatings industry is one of the major consumers of titanium dioxide. Titanium dioxide is utilized in paints and coatings for better coverage, brightness, whiteness, opacity, and durability. It finds applications in architectural coatings, automotive OEM coatings, general industrial finishes, powder coatings, waterborne paints, protective coatings, wood finishes, and other coatings. The rapidly growing housing & construction sector, increasing gross domestic product (GDP), ongoing rapid urbanization, and increasing disposable income propel the paints & coatings market. In addition, technological advancements in the automotive, wood, and other industrial sectors support market growth.
The outbreak of COVID-19 has disrupted the supply chain of raw material providers and manufacturers of paints and coatings. Countries such as India, China, Germany, the UK, and the US are the hubs of paints and coatings manufacturers and major suppliers of raw materials. The halt in the production and supply of raw materials owing to travel restrictions imposed for the reduction of the spread of the virus has impacted the growth of the market for paints & coatings. However, the steady recovery during the post-pandemic scenario is likely to support the growth of the titanium pigments market during the forecast period
Titanium dioxide in plastics and rubber applications offers excellent tinting strength, easy dispersion, and high exterior durability. Apart from improving aesthetics and providing coloring effects, titanium dioxide pigments enhance the stability of plastics, which increases the resistance of plastics to adverse weather conditions. Relatively fine-sized (0.15 µm to ~0.3 µm) particles of titanium dioxide are used in the plastics industry to obtain a blue tone with which yellowish resins can be covered. Titanium dioxide is used in various plastic types such as ABS, acrylics, PET/PBT, PVC, polyamide, polycarbonate, polyethylene/ polypropylene, and polystyrene
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Pigments that are used in the paper industry must have properties such as high brightness, high reflective index, high density, high strength, and better hiding power. The paper industry uses titanium dioxide in many applications, including decorative papers, notebooks, novels, coated papers, uncoated papers, and newspapers. The opacity, whiteness, high gloss, and resistance of titanium dioxide-coated papers are 10 times more than the paper made from other materials, such as calcium carbonate and calcined kaolin. However, the price of titanium dioxide is relatively high due to which titanium dioxide is used in the production of high-end paper
The outbreak of COVID-19 has disrupted the supply chain of raw material providers and manufacturers of paints and coatings. Countries such as India, China, Germany, the UK, and the US are the hubs of paints and coatings manufacturers and major suppliers of raw materials. The halt in the production and supply of raw materials owing to travel restrictions imposed for the reduction of the spread of the virus has impacted the growth of the market for paints & coatings. However, the steady recovery during the post-pandemic scenario is likely to support the growth of the titanium pigments market during the forecast period
The key players in the titanium market are VSMPO-AVISMA (Russia), ATI Metals (US), Titanium Metal Corporation (US), Chemours Company (US), Venator Materials, Plc. (UK), are some of the key players in the titanium market. Tronox Holdings, Plc (US), Lomon Billions Group (China), and Kronos Worldwide Inc. (US) are among others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the titanium market. These players have taken different organic and inorganic developmental strategies over the past five years.
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