The market is anticipated to expand at a CAGR of 4.0% in terms of value over the forecast period (2016–2024).
Albany, NY -- (SBWIRE) -- 02/20/2017 -- Titanium dioxide finds application in various products such as paints, coatings, plastics, rubber, paper, and semiconductors. It is widely used due to its brightness and high reflective index. Major consumers of titanium dioxide include industries such as paints & coatings, paper, and plastics.
In terms of volume, the Australia titanium dioxide market was pegged at 55 kilotons (KT) in 2015. The market is anticipated to expand at a CAGR of 4.0% in terms of value over the forecast period (2016–2024).
Increasing demand for automobiles and housing due to increasing disposable income along with changing consumer preferences in emerging economies such as China and India are expected to fuel the growth of the paints & coatings industry, which in turn is expected to fuel demand for titanium dioxide pigments. This is anticipated to drive the growth of the titanium dioxide market in Australia as the country exports titanium dioxide pigments to these countries. Also, growing environmental concerns over clean energy sources are anticipated to drive demand for solar panels, which are manufactured using titanium dioxide pigments. This is expected to drive growth of the titanium dioxide market in Australia over the forecast period. However, factors such as global economic slowdown and growing use of substitutes such as silica in solar panels are expected to restraint growth of the titanium dioxide market.
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The Australia titanium dioxide market has been segmented on the basis of product type, mineral grade, application, and region. On the basis of product type, the Australia titanium dioxide market is segmented into pigments and non-pigments. Pigment segment accounted for 93.7% revenue share of the Australia titanium dioxide market in 2015 and is expected to remain the dominant segment during the forecast period. The segment is also projected to be the fastest-growing segment by product type, registering a CAGR of 4.1% in terms of value over the forecast period.
By mineral grade, the titanium dioxide market in Australia has been segmented into Ilmenite grade, rutile grade, and others. Ilmenite grade segment accounted for 96% revenue share of the titanium dioxide market in 2015 and is expected to dominate the titanium dioxide market over the forecast period.
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By application, the titanium dioxide market has been segmented into dyes & paints, plastics & rubber, paper, pure titanium metal & welding rods, and others. Dyes & paints segment is expected to be the dominant segment in the titanium dioxide market, accounting for over 63% revenue share of the Australia titanium dioxide market by 2024.
On the basis of key regions, the Australia titanium dioxide market has been segmented into New South Wales, Victoria, Queensland, Western Australia, and rest of Australia. Western Australia dominated the market with about 42% volume share in the titanium dioxide market in 2015. The market in Victoria accounted for the second-highest share by volume of about 23% in 2015. The markets in Western Australia, New South Wales, and Queensland are anticipated to expand at significant CAGRs in terms of value over the forecast period.
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Key producers in the Australia titanium dioxide market include Tronox Limited and Cristal Australia Pty Ltd. Both these players are involved in a production of titanium dioxide mineral sands and titanium dioxide pigments. They focus on efficient and low-cost operations by investing in various sustainable technologies such as using chloride process for the production of titanium dioxide pigment, which results in lesser amount of waste and easy recovery.
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