The global titanium dioxide (TiO2) market size is expected to reach USD 34.47 billion by 2032, according to a new study by Polaris Market Research. The report “Titanium Dioxide (TiO2) Market Size, Share & Trends Analysis Report by Grade (Anatase, Rutile), By Production Process (Sulfate, Chloride), By Application (Paints & Coatings, Plastics, Pulp & Paper, Cosmetics & Others), By Region, And Segment Forecasts, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market's growth is attributable to the end-user industries' increasing demand for Titanium Dioxide (TiO2) dioxide (TiO2). The use of the product as pigments in the creation of paints and coatings is anticipated to drive the industry's growth over the upcoming years. In recent years, developing countries have seen an increase in the market for light vehicles. In developed regions like North America and Western Europe, the automotive sector is also exhibiting a favorable trend as a result of the recovery from the financial downturn.
Recently, the US market has been significantly fueled by the paints and coatings sector. The rebound of the American construction industry has fueled the market for paints and coatings, indicating a rise in demand for architectural coatings that are ecologically friendly and anti-corrosive. As a result, the product's use as pigments in the development of sophisticated paints and coatings has increased over the past few years.
Polycarbonate, a polymer that is frequently used as an alternative to glass and metal-based products, is highly compatible with TiO2-based coatings. As the demand for lightweight vehicles rises in response to the need for better fuel efficiency, the polycarbonate market in the automotive sector has seen an increase in demand for the material over the past few years.
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The worldwide aerospace industry has experienced COVID-19's worst and most immediate effects. The airline sector has been hardest hit by the lockdown at both national and local borders. Due to this, desire for new aircraft has been noticeably slowed down, as has passenger volume. According to industry experts, the global pandemic will reduce the demand for ceramic matrix composites in the aerospace sector as OEMs increase their focus on technological innovation to counteract the impact of declining orders through 2020–21. The supply chain disruption, decrease in aircraft orders, and fall in demand from aircraft engine manufacturers have all had a negative impact on the market.
Titanium Dioxide (TiO2) Market Report Highlights
Polaris Market Research has segmented the Titanium Dioxide (TiO2) Market report based on product grade, production, end-use and region:
Titanium Dioxide (TiO2), Component Outlook (Revenue - USD Billion, 2023 - 2032)
Titanium Dioxide (TiO2), Service Outlook (Revenue - USD Billion, 2023 - 2032)
Titanium Dioxide (TiO2), End-use Outlook (Revenue - USD Billion, 2023 - 2032)
Titanium Dioxide (TiO2), Regional Outlook (Revenue - USD Billion, 2023 - 2032)