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NEW YORK, Oct. 10, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The Global Titanium Dioxide (Tio2) Market size is estimated to grow by USD 7.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.98% during the forecast period. Increasing use of Tio2 as absorbent of pollutants is driving market growth, with a trend towards growing popularity of three-dimensional (3D) printed Tio2. However, rise in price of Tio2 poses a challenge - Key market players include Anhui Annada Titanium Industry Co. Ltd., CATHAY INDUSTRIES, Cinkarna metalursko kemicna industrija Celje d. D., CNNC Huayuan Titanium Dioxide Co. Ltd., Evonik Industries AG, Group DF Ltd., Grupa Azoty SA, Hangzhou Harmony Chemical Co. Ltd., INEOS AG, Ishihara Sangyo Kaisha Ltd., LB Group Co. Ltd., Nanjing Titanium Dioxide Chemical Co. Ltd., NINGBO XINFU TITANIUM DIOXIDE CO. LTD., Panzhihua Haifengxin Chemical Industry Co. Ltd., PRECHEZA AS, Tayca Corp., The Chemours Co., The Kerala Minerals and Metals Ltd., Tronox Holdings Plc, and Venator Materials Plc.

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Titanium Dioxide (Tio2) Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 5.98% Market growth 2024-2028 USD 7723.4 million Market structure Fragmented YoY growth 2022-2023 (%) 5.55 Regional analysis APAC, North America, Europe, South America, and Middle East and Africa Performing market contribution APAC at 56% Key countries China, US, Germany, Japan, and UK Key companies profiled Anhui Annada Titanium Industry Co. Ltd., CATHAY INDUSTRIES, Cinkarna metalursko kemicna industrija Celje d. D., CNNC Huayuan Titanium Dioxide Co. Ltd., Evonik Industries AG, Group DF Ltd., Grupa Azoty SA, Hangzhou Harmony Chemical Co. Ltd., INEOS AG, Ishihara Sangyo Kaisha Ltd., LB Group Co. Ltd., Nanjing Titanium Dioxide Chemical Co. Ltd., NINGBO XINFU TITANIUM DIOXIDE CO. LTD., Panzhihua Haifengxin Chemical Industry Co. Ltd., PRECHEZA AS, Tayca Corp., The Chemours Co., The Kerala Minerals and Metals Ltd., Tronox Holdings Plc, and Venator Materials Plc

Market Driver

Titanium Dioxide (TiO2) is a versatile material with significant potential in the field of additive manufacturing, particularly in 3D printing. Recent advancements in this technology have made it possible to produce complex, strong, and durable components using TiO2. In the construction sector, 3D-printed TiO2 can be used to bring intricate designs to life, acting as facades for various infrastructure projects. Its photocatalytic properties enable it to absorb nitrogen oxides using sunlight, converting them into nitrate ions that can be washed away or absorbed into concrete. In healthcare, TiO2's biocompatibility, strength, and corrosion resistance make it an ideal material for 3D-printed implants, addressing issues of aseptic loosening and stress shielding. These applications are expected to drive demand for 3D-printed TiO2 in the coming years.

Titanium Dioxide (TiO2), a common white pigment, dominates markets for paints, coatings, plastics, and cosmetics. Sources include Ilmenite and Rutile ore. In the construction sector, TiO2 is used in architectural paints for UV resistance, water resistance, and color stability. In cosmetics, it's found in toothpaste, face powder, sunscreen, and food coloring. Its high refractive index and UV absorption properties make it essential in the personal care industry and sunscreens. TiO2 is also used in the automotive industry for coatings on cars and electric vehicles. The sulfate production process is the most common method for manufacturing TiO2. Additionally, it's used in photovoltaic systems for clean energy sources and in plastics, pulp and paper, and various infrastructure projects. TiO2 provides lightweight vehicles with eco-friendly coatings, enhancing their appearance and durability. Specialized coatings offer chemical resistance, corrosion resistance, and protection against color fading, chalking, and cracking on exterior surfaces.

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Market Challenges

Titanium Dioxide (TiO2) is a crucial raw material in various industries, particularly in paints and coatings. However, its high price is a significant barrier to its extensive use. The primary reason for the price hike is China's increased export prices for TiO2 spot cargoes from 2019 to 2022. China is the world's leading TiO2 producer, and the closure of 73 TiO2 feedstock plants due to environmental non-compliance in 2017 reduced China's production capacity. This supply-demand imbalance has forced some major vendors to increase TiO2 prices. The paints and coatings industry, which heavily relies on TiO2, may experience a threefold increase in prices. Developing economies may curtail TiO2 usage due to its rising cost. Some manufacturers are exploring alternatives like natural fillers and extenders to mitigate the cost impact. In summary, the increasing TiO2 prices are anticipated to impede market growth during the forecast period.

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Segment Overview

This titanium dioxide (tio2) market report extensively covers market segmentation by

Application

1.1 Paints

1.2 Plastics

1.3 Paper

1.4 Others

Type

2.1 Sulfate process

2.2 Chloride process

Geography

3.1 APAC

3.2 North America

3.3 Europe

3.4 South America

3.5 Middle East and Africa

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Research Analysis

Market Research Overview

Titanium Dioxide (TiO2), a naturally occurring white pigment, is extensively used in various industries due to its unique properties such as UV resistance, water resistance, and high refractive index. In the infrastructure sector, it is utilized in residential and non-residential construction for architectural paints, specialized coatings, and exterior surfaces to enhance color stability, chalking resistance, cracking resistance, and protection against environmental pollutants. In the housing market, TiO2 is used in decorative paints, interior decoration, and home renovation projects. It is also found in household products like toothpaste, face powder, sunscreen, and food coloring. In the chemical industry, TiO2 is produced through the sulfate process or chloride process using raw materials like ilmenite ore and rutile. TiO2's UV scattering and absorbing properties make it essential in the paint and coatings industry, where it provides UV protection against color fading, and in the personal care industry for sunscreens and cosmetics. TiO2 is also used in the automotive industry for coatings, plastics, and pulp and paper production. The OECD has set emission restrictions on TiO2 manufacturing plants, leading to the development of eco-friendly production methods such as the sulfate process and the production of ultrafine and nanoscale TiO2. TiO2 is also used in photovoltaic systems and clean energy sources, making it a versatile and essential component in various industries.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

Application

Paints

Plastics

Paper

Others

Type

Sulfate Process

Chloride Process

Geography

APAC

North America

Europe

South America

Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio

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