Titanium Dioxide (TiO2) Market Size, Share | Trends, 2020-2027

Posted By : niteshvhaval on 2021-12-07   00:07:01    India
  Titanium Dioxide (TiO2) Market

Description

The global titanium dioxide market size was USD 16,640.4 million in 2019 and is projected to reach USD 24,092.5 million by 2027, exhibiting a CAGR of 6.0% during the forecast period.

The global titanium dioxide market share is anticipated to grow at a progressive rate owing to the increasing demand for this chemical compound in the automotive industry, observes Fortune Business Insights™ in its report, titled, “Titanium dioxide Market Size, Share &COVID-19 Impact Analysis, By Process (Sulfate, and Chloride), By Application (Paints & coatings, Plastics, Paper, and Others), and Regional Forecast, 2020-2027.

The global titanium dioxide market forecast reached USD 16,640.4 million in 2019 and is anticipated to reach USD 24,092.5 million by 2027, exhibiting a CAGR of 6.0% during the forecast period.

Underperforming Automotive Industry amid COVID-19 to Limit Demand

The global factory shutdowns amid the COVID-19 outbreak have crippled the already stumbling global automotive industry. This is affecting the demand for TiO2 on a negative scale as the former is the key application area of the latter. Key players operating in the market are finding new opportunities to counter this issue. At Fortune Business Insights, we are offering comprehensive reports to offer you customized solutions to such challenges.

Highlights of the Report:

The report includes a detailed company profile of key players and in-depth analysis of various market segments. It also includes close study of the various drivers and restraints that drive the market along with comprehensive understanding of the positive and negative impacts of regional developments on the market.

Drivers & Restraints-

Increasing Demand for Light-weight Vehicles to Drive Growth

According to the Office of Energy Efficiency and Renewable Energy, by reducing the weight of the vehicle by 10%, its fuel efficiency can be enhanced by 6%-8%. Stringent regulations from governments across the world regarding emission are driving manufacturers to adopt lightweight materials and components, such as alloys and polymer composite, for making fuel-efficient vehicles. This is projected to spurthe growth of the global market. In addition, growing applications of the material in the construction industry is anticipated to further enhance growth. However, the evident decrease in the supply of titanium dioxide owing to the prolonged shutdown of production units is anticipated to hinder its growth.

Browse summary:

https://www.fortunebusinessinsights.com/titanium-dioxide-tio2-market-102390




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niteshvhaval Pune India
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