The global titanium dioxide market was worth $ 11 billion in 2019 and is determine to reach around $ 16 billion by 2025, increasing at an annual growth rate of 8% during the envisioned period. The incline in consumption in emerging nations and the augmenting need for titanium dioxide from several end-use verticals have resulted in the expansion of the global titanium dioxide market. Titanium dioxide, one of the whitest materials in the world, is a natural titanium oxide in three types, anatase, rutile and brookite. It has the highest refractive index of all materials until its founding by humans, including diamonds. Titanium dioxide or titanium is a white crystalline powder that is made of ilmenite and rutile and used as a raw material in different industries. It is done with the help of the chloride or sulfuric acid process, known as the sulfate process. Titanium dioxide is widely used as a white pigment in paint and coating applications. However, titanium dioxide does not form in a usable state in nature. It should be carefully mined in one of its purest forms, such as rutile, anatase beach sand, and refined into an even finer item size.
The anatase grade type segment is expected to grow with the highest annual growth rate from 2020 to 2025. Anatase grade is the primary choice in the making of paper due to its less abrasive properties. The anatase segment is also expected to experience strong growth due to increasing demand for this variant in paint and coating applications in the construction industry.
Paints And Coatings
Paper And Pulp
The paint and coatings application sector is estimated to be the largest market for titanium dioxide over the forecast period. Also, the application is expected to experience a strong expansion during the estimated timeframe due to its characteristics such as a high refractive index and a high degree of transparency.
Impact of Covid-19 on Titanium Dioxide Market:
The pandemic caused by Covid-19 has resulted in a global shut down bringing the construction and manufacturing activities to a standstill. All the end-user industries of titanium dioxide like paints & coatings, plastics, cosmetics, paper & pulp, etc., have locked their companies due to the strict lockdown conditions. This has resulted in a decline in the overall revenue and the same trend is touted to continue in the worldwide market in the coming years.
Most companies operating in the wind and other power generation industries and in the solar power generation industry source their supplies from abroad. The overall supply chain disruptions due to slowdown in international trade limited the ability of producers to undertake any capacity upgrades or obtain required parts for maintenance. Foreign companies supply a significant amount of materials used in the geothermal, wind and power generation industries. The slowdown in international trade led to a slowdown in the production of titanium dioxide-based products. For instance, the slowdown in New Zealand’s making and retail divisions owing to government rules is predicted to decrease the mass of the overall waste produced. Overall, the net effect of the COVID-19 virus on waste collection services is expected to be negative. The public services sector is dependent on domestic demand and is therefore not particularly exposed to the disruption of the supply chain caused by COVID-19. However, public service stocks have risen in recent weeks due to investors’ switch to safer or less volatile investments. Weak construction activity in China earlier this year negatively affected mineral demand. The non-construction activities depend mainly on mining developments, which means lower mineral prices can influence the entire demand. The easing of the blockade in China is expected to stimulate mineral demand somewhat as construction and manufacturing activity picks up. Construction is very much dependent on workers who are unable to do their work from home. Therefore, any reduction in labor supply due to quarantine requirements among workers has the potential to delay projects.
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