The global titanium dioxide market is expected to register a CAGR of close to 4% during the period 2018-2022, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global titanium dioxide market from 2018-2022. (Graphic: Business Wire)
The most significant factor that will drive the demands for TiO2 during the forecast period is the rise in global building and infrastructure construction activities. TiO2 is used as a whitening agent in construction materials, paints, and coatings because of the intensity of its opaque white color. TiO2-based paints also resist discoloration under intense heat and UV radiation due to which they are used widely in outer coatings of buildings.
This market research report on the global titanium dioxide market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing adoption of water-based coatings as one of the key emerging trends in the global titanium dioxide market:
Global titanium dioxide market: Growing adoption of water-based coatings
At present, the demand for solvent-based coatings maintains the lead share in the global protective coatings market. However, solvent-based TiO2 coatings contain volatile chemicals that are hazardous to the human body and the natural environment. This is expected to encourage the adoption of water-based coatings for surface protection. Regulatory authorities in several developed countries are already imposing stringent regulations on solvent-based coatings to limit their use in end products and are favoring water-based coatings that have low to zero volatile organic compound emissions.
"When compared with over solvent-based, water-based coatings also yield various advantages such as improved color-matching ability, faster drying times, and better resistance to environment and weather conditions and variety of chemicals," says a senior analyst at Technavio for research on specialty chemicals.
Global titanium dioxide market: Segmentation analysis
This market research report segments the global titanium dioxide market into the following applications (paints, plastics, and paper) and key regions (the Americas, APAC, and EMEA).
The paints segment held the largest market share in 2017, accounting for nearly 58% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC held the highest share of the global titanium dioxide market in 2017, accounting for a market share of approximately 46%. The market share occupied by this region is anticipated to increase during 2018-2022.
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