The
global Titanium Dioxide
Market size
is expected to reach USD 28.19 billion by 2025 registering a CAGR of 8.7%,
according to a new report by Grand View Research, Inc. Rise in demand for
paints & coatings due to expanding construction and automotive sectors
across the globe will augment the TiO2 market growth over the
forecast period. Growing automotive industry due to technological advancements
in the sector coupled with rising demand for lightweight vehicles has also
contributed to the industry expansion.
Lightweight
materials used in the automotive industry contain specific amounts of carbon
fiber, which is a cost- and fuel-efficient as it helps reduce the carbon
footprint. These materials are malleable, remolded, and reshaped, which results
in low-cost production. These factors are expected to boost the market growth
in the next few years. The photovoltaic method converts solar energy into
direct current electricity using materials, such as TiO2 and
amorphous silicon. Energy generated from the solar PV is considered as
sustainable energy and renewable source making it cost-effective.
The
demand for electricity is increasing rapidly with the rising world population.
In developing countries like China, India, Indonesia, and Malaysia, the demand
for energy conservation is high due to urbanization and industrialization.
Increasing demand for sustainable energy sources is expected to have a positive
impact on the market in the next couple of years. Titanium dioxide particles
have wide application scope due to their high stability, photocatalytic properties,
and anti-corrosive nature and are manufactured from anatase. They are used in
consumer products, such as sunscreens, and as components for articulating
implants for the hip and knee.
These
nanoparticles are also used as catalyst in semiconductor photocatalysis, water
treatment plants, and as a photoactive material in nanocrystalline solar cells.
Other applications in self-cleaning tiles, textiles, windows, and anti-fogging
car mirrors are expected to support the market growth over the forecast period.
However, dust particles of the product are grouped under 2B carcinogens by
IRAC. Thus, stringent regulations are projected to have a negative impact on
the market growth.
Request
a sample copy or view summary of this report@
https://www.grandviewresearch.com/industry-analysis/titanium-dioxide-industry
Further
key findings from the study suggest:
- In terms of revenue, paints &
coatings is anticipated to be the largest application segment reaching at
USD 16.40 billion by 2025
- On the other hand, the plastics
application segment is anticipated to register the highest CAGR of 9.3%
from 2019 to 2025
- Asia Pacific is anticipated to be the
largest and fastest-growing regional market over the next few years
- In terms of revenue, Middle East &
Africa is also anticipated to witness a lucrative growth due to rising
number of construction projects in the region
- Some of the key companies in the global
titanium dioxide market are Cristal Global; Kronos Worldwide, Inc.;
Huntsman Corp.; The Chemours Company; and Tronox Limited
About
Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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