Development Trend Of Titanium Dioxide Global Market
The global market value of titanium dioxide (TiO2) is expected to reach $66.9 billion by 2025, according to a new report by the Grand View study. As demand for paints and paper pulp industry surges, the annual CAGR of the Asia-Pacific region from 2016 to 2025 is expected to grow at more than 15%.
2015, the global titanium dioxide market total of more than 7.4 million tons, CAGR is expected from 2016 to 2025 more than 9%.
Automotive special coatings and photovoltaic systems and other applications of the development of market is to promote the growth of titanium dioxide market factors. The increase in the consumption of whitening pigments in the coatings industry is expected to be the main driving force for the growth of titanium dioxide, while the growth in consumption of cosmetics by emerging economies in the BRICS is expected to boost demand for titanium dioxide products during the forecast period. In addition, the growing demand for light vehicles, especially in developed countries, is expected to have a positive impact on the consumption of titanium dioxide over the next 9 years.
At present, the largest area of application of titanium dioxide is paint industry, accounting for more than 50% of 2015 years of income. Due to its excellent covering power, the product can be used for indoor architectural coatings and the need for continuous gloss, color retention and self-cleaning ability and high weatherability of outdoor coating applications. 2015 in the plastic field of titanium dioxide products in the application demand of about 1.7 million tons. The increase in the use of plastics in the manufacture of doors and windows is expected to have a positive impact on the titanium dioxide industry over the next 9 years.
As the demand for paints and paper pulp industry surged, the combined annual growth rate of 2016 to 2025 in the Asia-Pacific region, which is currently the first in the consumption of titanium dioxide, will still grow by more than 15%. In addition, in China and India, more and more multinational cosmetics brands, including Avon, Aveda and Revlon, will increase demand during the forecast period, and personal care products would promote the growth of titanium dioxide consumption during the forecast period.
Europe is the second largest market for titanium dioxide, with a 2015-year income estimated at over US $5 billion. Growth in the personal care industry in the UK, Germany, Italy and France is expected to boost demand for the titanium dioxide market during the forecast period, particularly for specific products of different genders.