Albany, NY -- (SBWIRE) -- 10/08/2018 -- Global Titanium Dioxide Market: Snapshot

The global titanium dioxide market is predicted to expand at a healthy pace in the near future. Firstly, the recoup of the construction sector in developed countries post the economic slump of 2008 accounts for significant momentum to the titanium dioxide industry. In addition, the significant growth of the construction industry in developing countries is giving impetus to the titanium dioxide market.

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Apart from this, the surging demand for lightweight vehicles mainly because of rising concerns of emissions associated with heavy vehicles, is working in favor of titanium dioxide market.

Providing headwinds to the titanium dioxide market are stringent environmental regulations in place due to harmful solid acid waste produced in the manufacture of titanium dioxide. The effect of this factor is strong in developed countries over developing countries. Manufacturers of titanium dioxide, especially in China are embracing new processes that may control unfavorable environmental impact of titanium dioxide.

According to a market intelligence study by Transparency Market Research (TMR), the global titanium dioxide market is predicted to be worth US$16.79 bn vis-à-vis revenue by the end of 2023, at a CAGR of 3.7% between 2015 and 2023.

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Paints and Coatings Application Segment to Rake in Lion's Share through Forecast Period

The global titanium dioxide market is segmented depending upon application and region. By application, the titanium dioxide market is segregated into paints and coatings, plastic, paper, and others. Of them, the paints and coatings segment is likely to gross maximum revenue in the market until 2023. Paints and coatings sector uses close to 50% of the titanium dioxide produced worldwide.