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According to a new research report by consulting firm Grand View Research, the global
tumium dioxide
market value will reach $31.19 billion by 2022, driven by the growth of consumer demand such as specialty
coatings
, while the demand for cosmetics driven by economic growth in the BRICS countries will also be one of the strong drivers of the growth of the titanium dioxide industry.
The global titanium dioxide market was worth approximately US$15.17 billion in 2014, with the coatings industry being the largest consumer sector, with a total consumption of about US$8 billion in 2014, and due to its excellent cover, titanium white powder was mainly used in the construction of
en-wall coatings
, which needed to be protected outdoors. Color and self-cleaning, anti-aging and other functions of the
building coatings
applications, titanium dioxide is also the preferred pigment, in the
industrial coatings
field, due to opacity, outdoor aging resistance and acid catalytic coatings and film curing and other areas of unique properties, titanium white powder has also been widely used.
the plastics industry in 2015-2022, the compound annual growth rate of titanium dioxide consumption is about 4.5%, the future growth of plastic doors and windows market demand will have a positive impact on the consumption of titanium dioxide.
Asia-Pacific region's compound annual growth rate (CAGR) of titanium dioxide consumption in 2015-2022 is about 4%, while market value CAGR is expected to reach 10%, mainly in the coatings and
paints
, pulp and paper industries.
Europe was the second largest consumer market for titanium dioxide in 2014, with a total value of more than US$4.3 billion, and the growth of the personal care market in the UK, Germany, Italy and France will be the driving force behind the growth of titanium dioxide in the future, especially the continuous innovation of ultra-fine titanium dioxide, which will create new space for the application of titanium dioxide in personal care and cosmetics.
