Titanium dioxide market projected to reach $34.78 billion by 2032 due to increased demand
From GlobeNewswire: 2024-12-16 09:00:00
The titanium dioxide market is projected to reach USD 34.78 billion by 2032, with a CAGR of 6.2% from 2024 to 2032. Increased demand in paints, coatings, and plastics industries, driven by construction and automotive sectors, is a key factor. The market is also benefiting from sustainable and energy-efficient solutions, with TiO₂ used in windows and photovoltaic cells. Emerging trends include nanotechnology advancements and eco-friendly production methods, while growth opportunities exist in paints, coatings, plastics, and cosmetics industries. Asia-Pacific dominates the market, with China leading in production and consumption, followed by North America. The rutile segment is the largest, accounting for 70% of the market share in 2023. Titanium dioxide remains a dominant market force due to its durability and compatibility with various binders. The anatase segment is gaining popularity, especially in applications like indoor paints, offering lower cost and excellent brightness properties. The paints and coatings segment holds the largest revenue share, driven by demand in residential, commercial, and industrial sectors. The plastics segment sees increased adoption in packaging, automotive, and construction industries for lightweight and durable materials.
In recent developments, Chemours Company expands its production facility in Altamira, Mexico to meet growing demand in the Americas. Venator Materials PLC launches a new range of titanium dioxide pigments for high-performance coatings and plastics, catering to automotive and construction industries. Market analysis includes a detailed breakdown of key points, such as market definition, executive summary, research methodology, market dynamics impact analysis, and more. Get deeper insights by speaking with an expert analyst today.
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