Titanium Dioxide Market Size is likely to witness a healthy growth from 2016 to 2024 owing to proliferation in paint & coatings applications.
Titanium Dioxide is an inorganic bright white compound, used as a vivid colorant in a wide range of products. The main source of titanium dioxide is rutile, anatase, ilmenite and others. It is non-reactive & non-toxic in nature and has lustrous properties which enhances the luminous properties of numerous material. It has refractive index more than diamond, has strong tinting strength, and resistance against UV- rays, heat, light and weather change. Titanium dioxide has myriad application domain such as in paint & coating, paper & pulp, cosmetics, plastics & rubber, chemical reaction, textile, etc.
Paint & coating industry is deemed to a profitable quotient for titanium dioxide market owing to increase in paint & coating applications in automobile, building & construction, etc. It acts as a whitener which scatter visible light resulting in opaque color and creates reflective, bright quality when applied to a surface. Various government rules for endorsement of non-toxic whitener will surge the market growth.
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The use of titanium dioxide in cosmetic industry is also a positive indicator for the growth of the market due to its application in skincare and makeup products. It is used as a thickener and pigment for creams, and in sunscreen products owing to its transparent and UV absorption characteristics. The primary hindrance in the growth path of market is the high cost and carcinogenic effect of the product.
Based on process, titanium dioxide market is bifurcated as sulfate process and chloride process. The sulfate route is the most commonly used process with simple technology which use low grades & cheaper ores and are able to produce both anatase and rutile grade pigments whereas chloride route is a new technology which needs high grade ore and produce only rutile pigments Owing to the advantage of the sulfate process, this segment will account for a substantial share of the titanium dioxide market in the forecast timeframe.
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Based on the product, the industry is bifurcated into pigment and ultrafine. The pigmentary titanium dioxide particle size should be between 200-350nm which is half of wavelength of light to be scattered to provide high refractive index and high absorption rate. Ultrafine titanium dioxide particle size is less than 100 nm which increase the transparency and UV absorption abilities. It is not used as a colorant owing to Nano size and mostly used in cosmetic, food, catalyst, and semiconductors. The widen application spectrum of pigmentary titanium dioxide in paints, plastics, rubber, printing inks and others will contribute towards the upward trend in consumption of titanium dioxide which will in turn propel the market growth.
On application basis, the market is diversified into paints & coatings, paper & pulp, textiles, plastics & rubber, cosmetics, printing inks and others including catalyst, water treatment agent, welding electrode, food colorant, pharmaceuticals, etc. Among all, the global product market is likely to be led by paints & coatings segment owing to high hiding property which protects the material from degradation and reduces inorganic air pollutants such as sulfoxides and nitrogen oxides. The products usage in coating of plastics owing to low scratch resistance will also stimulate the market growth.
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Europe is likely to have substantial growth and will hold major chunk of the titanium dioxide market share due to increasing demand of cosmetic products in Italy, UK, Germany and France. Increase in disposable income and awareness regarding personal grooming will propel the market in next seven years.
The key participants in the market are The Chemours Company, Travancore Titanium Product Ltd., Tronox Limited, Kilburn Chemicals, Parshwanath Dye Stuff Industries, Jianghu Titanium White, Venator Materials PLC (Huntsman Corporation), Cristal ACTiV, The Kerala Minerals & Metals Ltd, Shanghai Jiuta Chemical Co., Ltd., Kronos, Argex Titanium Inc., GRUPA AZOTY, Titanos Group, Cinkarna Celje, etc.
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