The global TiO2 market was valued at more than USD 16 billion in 2016 and is expected to surpass USD 20 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on TiO2 market for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the public relations services market during the forecast period. Some of the top vendors listed in this industry analysis include Chemours, Cristal Global, Tronox, Huntsman, and Kronos.
In terms of geographical analysis, APAC is the largest shareholder in the global market, with a market share of around 43%. The increasing demand from the construction industry in countries such as China and India will lead to the growth of the market in this region.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “The new trend in the market is a shift toward chloride process, ensuring high quality, faster production rates, and reduction in emissions. Various suppliers in growing economies utilize the sulfate process to manufacture TiO2 due to its relatively low production cost. The increasing demand for high-quality TiO2 and technological assistance from top suppliers have led to a superior shift toward the chloride process among manufacturers in growing economies.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Growth of construction industry
The increasing investments in construction activities in emerging countries such as India, China, and Indonesia will drive the demand in the global market. The growth in the construction industry is attributed to factors such as increased urbanization, and economic growth worldwide is expected to drive the demand for paints and coatings. The increasing demand for paints and coating will have a significant impact on the growth of the TiO2 market during the forecast period.
Increased use of lightweight automobiles
The market is witnessing an increase in the demand for lightweight automotive, and these vehicles utilize polycarbonate parts that use TiO2 coatings to improve their scratch resistance properties, which, in turn, will drive the demand for TiO2 in the global market. The growing requirement for fuel efficiency and reduction in vehicular emissions has led to an increased demand for lightweight automobiles.
Increasing preference for personal care products
The increasing consumption of personal care products such as sunscreens and body lotions is primarily attributed to the rising awareness about personal grooming and changing lifestyle preferences. The use of this material in the manufacturing of these products is due to nanoscale properties such as high UV light absorption and high refractive index. Such factors will increase the use TiO2 in personal care products such as sunscreen lotions and thereby increase the demand in the global market.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global TiO2 Market – Procurement Market Intelligence Report 2017-2021.’
