Titanium Dioxide Market Could Be Lucrative Due to the Ever Increasing Demand for Lightweight Materials in Various Applications: Transparency Market Research
By Business Wire News
By Business Wire News
Transparency Market Research has announced the release of a report titled “Titanium Dioxide Market for Paints & Coatings, Plastic, Paper and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”. According to the report, the global market of titanium dioxide was estimated at US$13.14 billion in the year 2013 and reach US$17.12 billion by 2020. The global titanium dioxide market will expand at a CAGR of 3.8% between 2014 and 2020.
The global titanium dioxide market is largely stimulated due to the increasing demand for lightweight vehicles that has led to a rise in demand for polycarbonate, a thermoplastic used as a lightweight substitute for metal and glass-based automotive parts. However, a coating material such as titanium dioxide needs to be applied on polycarbonate due to the latter’s low scratch resistance. Thus, rising demand for lightweight vehicles and increasing demand for polycarbonates are some of the major factors driving the market for titanium dioxide.
Increasing demand for coatings to improve efficiency of photovoltaic modules is anticipated to offer high growth opportunities. In contrast, increasing number of stringent regulations in the titanium dioxide market because of environmental and health hazards associated with titanium dioxide are expected to hamper the long term growth of the global titanium dioxide market.
On the basis of region, Global titanium dioxide market is segmented into North America, Asia Pacific, Europe, and Rest of the World. By application, the global titanium dioxide market is segmented into paints and coatings, artificial fibers, plastic, paper, inks and others.
Some of the prominent players in the global market of titanium dioxide include DuPont, Tronox Limited, Cristal Global and Kronos Worldwide, among others.
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Transparency Market Research is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.