The global Titanium Dioxide (TiO2) market was evaluated around USD 10.21 billion in the 2014 and is expected to reach approximately USD 16.67 billion by the end of 2023 while registering itself at a compound annual growth rate (CAGR) of 5.60% over the forecast period. The growing per capita consumption of pigments in developing countries and escalating need for titanium dioxide from varying end user industries have together resulted in the global growth of titanium dioxide market.
In the applications section, the paints and coatings segment is anticipated to mature during the forecast period by registering at the largest CAGR between 2014 and 2023.
The paints and coatings segment of the global titanium dioxide market is anticipated to flourish at a very high compound annual growth rate (CAGR) owing to swiftly growing number of construction and automobiles industries. Furthermore, this pigment powder is used with various paints and coatings to assure durability of paints and constant shield of substrate.
Region-wise, the Asia Pacific market of titanium dioxide is anticipated to mature and garner significant CAGR between 2014 and 2023.
Asia Pacific is predicted to grow fastest owing to constantly and steady rise in the population of this region along with escalating disposable income. Moreover, more and more demand for titanium dioxide from several countries like India and China is also backing the market to garner lucrative share.
Some of the key market players of the global titanium dioxide market are Kerala Minerals and Metals Ltd., Tronox Limited, Kronos Worldwide Inc., Tayca Corporation, Cabot Corp, Evonik Industries AG, Huntsman Corporation, Cristal, CinkarnaCelje, The Chemours Company, Ishihara Sangyo Kaishal Ltd. and Lomon Billions.
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