Titanium Dioxide Market for Paints & Coatings, Plastic, Paper and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Albany, NY -- (SBWIRE) -- 10/09/2014 -- Titanium dioxide is an inorganic, solid and white-colored material with a high value of thermal stability and sub-standard solubility. It is a naturally occurring oxide of the metal titanium and is identified with the chemical formula of TiO2. The common sources of titanium dioxide are the minerals rutile, ilmenite and anatase. The key processes of titanium dioxide manufacturing are the sulfate process and the chloride process. The most common uses of titanium dioxide are in sunscreen and food coloring. When it is used as a food coloring, it is identified as the color number E171.
Titanium Dioxide Market Segmentation and Uses :
The major categories of classification for the titanium dioxide market are based on its application, namely in:
- Paints and coatings
- Artificial fibers
Paints and coatings accounted for more than 50% of the market share in 2013. It provided the largest application segment for titanium dioxide. This trend should continue throughout the forecast period of 2014 to 2020.
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Titanium dioxide is also used in the manufacture of plastic to improve both its aesthetics and physical properties. Specific addition of titanium dioxide can increase the tensile strength of plastic, while improving its color and opacity. Due to plastic becoming one of the fastest growing segments because of its heavy use in end-user industries, its supporting titanium dioxide market is also expected to receive a similar boost. Other applications involve niche segments such as inks and artificial fibers.
Key Restraining Factors :
The industrial production of titanium dioxide also creates several dangerous waste products in liquid, solid as well as gaseous forms. This has led many governments to impose regulations on the market. There are also increasing concerns over the possible harmful effects of titanium dioxide when ingested by humans as food colorings. Most of the reforms have stifled the growth of the market due to its adverse effect on the environment.
Key Drivers and Market Trends :
The increasing demand for coatings in photovoltaic modules is expected to offer positive growth opportunities to the titanium dioxide market. The automobile industry faces a constant demand for lightweight vehicles that are fuel efficient. The polycarbonates that are used in the new vehicles are light in weight but offer low scratch resistance, which is overcome with the help of coatings that contain titanium dioxide. Therefore, a material that could otherwise hamper the automobile market’s growth can prove to be beneficial to it due to a titanium dioxide addition. This creates a consequent increase in demand for titanium dioxide coatings. Titanium dioxide nanoparticles are the ones with a diameter between 4 nanometers to 30 nanometers. These nanoparticles have great demand in multiple end user industries ranging from personal care to food.
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The key companies that contribute towards the growth of the titanium dioxide market include Cristal Global, DuPont, Tronox Limited and Kronos Worldwide.
The titanium dioxide market is a consolidated one, with the top four companies holding more than 50% of the global market share. The key end user industries for this market include consumer goods packaging and automobiles.
In conclusion, all the drivers point to the fact that the titanium dioxide market will continue to show favorable growth over the forecast period. Despite the environmental concerns and regulatory restrictions, new methods of production and usage are being discovered that can help create sufficient quantities of titanium dioxide without any negative repercussions.
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