TAGS: Smart Coatings Architectural Coatings
Transparency Market Research delivers key insights on the global titanium dioxide market. In terms of revenue, the global titanium dioxide market is estimated to reach valuation of US$ 22.7 Bn by 2031 by expanding at a CAGR of 3.7%.
Factors Affecting Global Titanium Dioxide Market
The global titanium dioxide market is broadly affected by several factors, including increase in usage of titanium dioxide in various applications such as paints & coatings, plastic, paper, and others. Rise in global demand for paints and coatings has led to significant growth in the usage of titanium dioxide.
In addition, increase in production and demand for paints and coatings application is expected to be the primary driver of the global titanium dioxide market.
Titanium Dioxide Market: Dynamics
Titanium dioxide is a white, solid, inorganic material with high thermal stability and poor solubility. Major raw materials used in the production of titanium dioxide include ilmenite and rutile. Key processes used in the manufacturing of titanium dioxide include sulfate and chloride processes.
Titanium dioxide is the most widely used white pigment material in the paints & coatings industry. It efficiently scatters visible light and thereby imparts whiteness, brightness, and opacity when incorporated into a coating, which makes it widely used in the paints & coatings industry.
Titanium dioxide finds applications in architectural paints and coatings. Architectural paints must have UV and water resistance, whereas some specialized coatings need to be chemical and
corrosion-resistant . Titanium dioxide provides an excellent durable coating that can resist UV rays from the sun and maintain a newly painted look for a significant time.
Titanium dioxide is used in paints and coatings meant for exterior surfaces for better color fading, chalking, and cracking resistance. Furthermore, it has the photocatalyst ability that enables self-cleaning and provides protection against bacteria, algae, fungi, and pollution.
The global paints & coatings segment is expected to expand considerably during the forecast period. Manufacturers are focusing on paints and coatings, as the share held by this segment in the titanium dioxide market is likely to increase during the forecast period.
View All TiO2 Grades for Architectural Paints
Source: TMR