Increased Demand Driving Global Titanium Dioxide Market
The global titanium dioxide market is expected to reach $18.2 billion by 2021.
The global epoxy curing agents market is expected to grow from $3.60 billion in 2017 to $5.02 billion by 2022, at a compound annual growth rate (CAGR) of 6.84% between 2017 and 2022, according to a new market report from Lucintel. The future of the global titanium dioxide market looks promising with opportunities in 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 coatings, plastics 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, coatings, plastics and paper are the major application industries of titanium dioxide. On the basis of its 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 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 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 predicted to remain the largest market due to growth of end use industries, such as coatings, plastics and paper. The region is expected to witness above-average growth over the forecast period due to economic expansion in India and China and growing consumption of coatings, particularly in the automotive and construction industry.
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