26 September, 2019
RALEIGH, North Carolina, September 26, 2019 - The global market for titanium dioxide is expected to grow at a CAGR of 4 percent until 2022, according to Beroe Inc, a procurement intelligence firm. The current installed capacity for titanium dioxide is estimated to be 6.90 MMT, with a demand of 5.84 MMT. The demand is mainly driven by the automobile and construction sectors.
APAC has the largest market share of titanium dioxide at a global level, accounting for 44 percent of the market, followed by EU at 29 percent, North America at 23 percent and the Middle East at 3 percent. The highest regional growth rate for titanium dioxide is in APAC and the Middle East, both projected to have a growth of 4 percent each.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com
Based on applications, paints and coatings are the single largest end-user segment for titanium oxide, accounting for approximately 63 percent of the global demand, and the sector is expected to grow at a rate of 3.2 percent until 2021. The second largest demand is from plastics (19 percent of the demand), followed by papers (9 percent).
So far, there are no substitutes for titanium dioxide that would be economical to produce in large scale. Over the years, other alternatives have only managed to replace 5 percent of the market, driven by specialty-grade requirements. Increasing environmental regulations in the titanium dioxide market have resulted in plant closures and these rules are expected to become more stringent in the next few years.
The research methodology adopted for the report included:
The chloride process is used for around 53 percent of the production of titanium dioxide, whereas the sulfate process is used for the remaining 47 percent. Around 95 percent of the capacity in North America and more than 70 percent of capacity in Europe are based on the chloride process while 98 percent of the Chinese titanium dioxide capacity is based on the sulfate process.
The report also includes:
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
To learn more about Beroe Inc., please visit: http://www.beroeinc.com
COVID-19: Assess impact on your suppliers and ensure business continuity with Beroe’s WIRE
(World Instant Risk Exposure)