The growing investments and increasing demand from various end-use industries are driving the market demand.
Titanium Dioxide Market Size – USD 5.55 Billion in 2019, Growth - CAGR of 9.3%, Trends – High demand from developing nations.
The global Titanium Dioxide market is forecasted to reach USD 11.35 Billion by 2027, according to a new report by Reports and Data. Increasing advancements in life sciences and extensive research and development in the biomedical field drive market demand. An increase in the consumption of skin and personal care products is expected to result in a surge in market demand.
Titanium Dioxide is an unexplored field in material chemistry that is gaining attention due to the possible technological advancements in the field. The product can lead to a considerable improvement in the fields of energy storage and electronic devices, catalysis, information and technology, and medicine. Products manufactured using nanoparticles are gaining significant importance in terms of breakthroughs in research and development and commercialization.
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Top Companies: Hongwu International Group Ltd., Goodfellow Group, Showa Denko K.K., Nanoshell LLC, Nanoe, Baikowski SAS, ABC NANOTECH CO., LTD, SkySpring Nanomaterials Inc., American Elements, and Nanophase Technologies Corporation, among others.
Further Key Finding from the Report Suggestion:
- Aluminum Oxide is forecasted to grow at a CAGR of 9.3% in the forecast period. It is used for its hardness and strength properties. Aluminum oxide is widely used as an abrasive and a less expensive substitute for industrial diamond. Sandpapers also use aluminum oxide crystals. Due to these factors, the product is forecasted to grow at a rapid pace.
- Offline Stores occupied 75.82% of the market share in 2019. This is primarily because not many online stores offer the product. Also, the product is generally physically examined by consumers before purchasing to make sure of its specifications. There is a slow shift occurring towards the online stores.
- The optical fiber industry shows promising growth in the forecast period. Optical fibers are used in telecommunication, sensors, and fiber lasers. Sensing coating made from Nano Particles helps in increasing the response time of the sensor and its sensitivity.
- The Middle East and Africa are forecasted to grow with a CAGR of 8.7% in the forecast period. This is primarily due to the growing healthcare sector in the region, especially in countries like the UAE and Saudi Arabia. The growing energy sector is also forecasted to drive market growth in the region.
- China is the largest consumer of Titanium Dioxides. This is primarily because of the presence of a large number of end-use industries in the country. Also, the country's booming population leads to increased consumption of the products made by Titanium Dioxides.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Titanium Dioxide market is segmented into:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Zinc Oxide
- Silicon Dioxide
- Titanium Dioxide
- Iron Oxide
- Aluminum Oxide
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Energy and Environment
- Paints and Coatings
- Medical and Personal Care
- Electronics and Optics
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Offline Stores
- Online Retailers
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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