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Top five trends catalyzing North America titanium dioxide market growth

Author : Ronak Bora | Published Date : 2021-01-06 

The North America titanium dioxide market is anticipated to be worth more than $4.8 billion by 2026, fueled by the increasing requirement for the mineral in the paints & coatings industry. Titanium dioxide (TiO2) is deployed across multiple applications that include but are not limited to solvent-borne and waterborne coatings, architectural paints, coil coatings, and automotive paint, among others. The current trends associated with self-cleaning technologies have also been supporting the growth of the market.

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In 2019, the North America titanium dioxide market was estimated at $3.3 billion, and between 2020 and 2026, it is projected to register a 7.8% CAGR.

The following top five trends have been stimulating the growth of the market:

Widespread utility across multiple industrial applications boosting expansion

Perhaps one of the most useful industrial substances, titanium dioxide is widely utilized as a pigment in the manufacturing of inks, papers, coatings, paints, foods, cosmetics, and fibers. Since it has the ability to absorb ultraviolet (UV) rays, it is commonly used in the preparation of sunscreens. Moreover, it can speed up all kinds of chemical reactions when exposed to light, due to which it has been used in construction materials. Several projects aim to utilize it across both water and air purifiers as well as solar cells.

Owing to introduction of new pigmentation techniques, US to be the foremost regional segment

The US represented a substantial chunk of over 85% of the North America titanium dioxide market share in 2019 and is expected to register high growth in the years to come. The presence of key companies in the industry, coupled with new innovations in the application areas has been pushing the demand in the region. For instance, innovative pigment plants and more have been cropping up. The latest developments in the mining industry in the US is another important growth driver. Moreover, since the FDA has approved the use of titanium dioxide in food, the market will continue to expand.

Paints and coatings to lead on account of the boom in automotive sector

The paints and coatings application is expected to emerge as the fastest growing segment in the North America titanium dioxide market, boosted by the multiple uses of titanium dioxide across the booming automotive and construction paints over the forthcoming timeframe. The plastic and rubber segment has been trailing the paints and coatings segment. It accounted for a 20% share in the market in 2019, since the process of rubber compounding requires a whiteness inducing colorant among rubber products. The plastic industry utilizes titanium dioxide for enhancing processability as well as for ensuring protection from UV rays.

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Pigmentary titanium dioxide held 95% share in the past

By product type, the pigmentary segment has been leading the market with a magnificent share of over 95% and is expected to maintain its growth rate, thanks to the chemical’s remarkable ability to scatter light, which is crucial across applications that need brightness and white opacity.  For more than a century, titanium dioxide being used as a pigment in a range of different products such as coated fabrics & textiles, adhesives, food colorants, roofing materials, ceramics, soap, toothpaste, catalysts, among numerous others.

The leading profiles in the North America titanium dioxide market include Lomon Billions, Kronos, Tronox Holding Plc, The Chemours Company, Venator Material Plc.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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