Rising expansion activities in the paints & coatings sector and proliferating application in paper & pulp industry to suffice noteworthy growth to titanium dioxide market over 2026. For years, titanium dioxide (TiO₂) has been used in the manufacturing of numerous consumer products across various industries. The product finds applications in paints, adhesives, coatings, paper, rubber, printing inks, textiles, coated fabrics, ceramics, roofing materials, floor coverings, and cosmetics.
Surging in product demand across the industrial sector is expected to expand titanium dioxide market size over the coming years. A study led by Global Market Insights, Inc., suggests that the TiO₂ market might exceed USD 27 billion by 2026.
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The demand for high-quality paints and coatings has surged significantly across the construction and automobile sector in recent years. Titanium dioxide is a vital ingredients in paints and coating products used in plastics, aerospace, and construction applications. It offers superior surface treatment and high color retention characteristics.
Driven by increasing demand for paints worldwide, titanium dioxide manufacturers are increasing their production capacity with new expansion activities. In 2020, KZN Economic Development, Tourism and Environmental Affairs confirmed that Nyanza Light Metals will forge ahead with the construction of a titanium dioxide plant at the Richards Bay Industrial Development Zone as soon as the COVID-19 lockdown reaches Level 1.
Titanium dioxide is essentially used in the paper and pulp industry for the making of products like paperboard for furniture, coated paper, and base paper for décor laminating. According to a study, the paper & pulp segment is anticipated to register a CAGR of over 7% during the forecast period. Construction of new manufacturing plants worldwide to meet increasing paper demand will drive momentous growth prospects in the titanium dioxide market.
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North America has observed a significant rise in construction activities and investments over recent years. These development have led to strong demand for paints and coatings in the region’s construction and infrastructure sector. In 2020, US transportation secretary awarded a total of US $906 million under the Infrastructure for Rebuilding America (Infra) scheme in 20 projects across 20 states, including development of major bridges, highways and ports. With proliferating advancements, estimates suggest that North American TiO2 market may register a CAGR of around 7% by 2026.
On a worldwide scale, the titanium dioxide market is inclusive of companies like Chemours, Lomon Billions, Argex Titanium, Tronox Holding, TAYCA CORP., and Venator Material. Most of these firms are focusing on initiating business strategies such as business agreements, acquisitions, and new product launches to enhance overall reach in the market.
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