Titanium Dioxide (TiO2) Market Size, Top Key Players and Growth Analysis by Forecast to 2022

The global titanium dioxide market is expected to reach USD 27.49 billion by 2024 owing to the increasing demand of titanium dioxide in paper, paint & coating, cosmetics, and plastic industries. In 2014, DuPont titanium technologies started a manufacturing facility in Alamira, Mexico having a capacity of 200,000 tons/year which will help in fulfilling the demand worldwide.

Rising demand for lightweight automobiles is expected to play a vital role in growth of global titanium dioxide market. Materials such as polycarbonates are used in manufacturing of lightweight automotive which have low scratch resistance value. Also, the product is used in various industries such as chemical intermediates, fiber, technical titanium, inks for printer and rubber.

Technological development has led to improvement in the manufacturing process to give high yield & quality. For instance, in October 2012, Argex Titanium Inc., developed a CTL process which involves low cost feed material producing high quality titanium dioxide. This method has helped the company to increase its contribution in global titanium dioxide market.

Key players analyzed:
• Argex Titanium Inc
• The chemours company.
• Cristal
• KRONOS worldwide Inc.
• Tronox limited
• Ishihara sangyo kaisha LTD.

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Moreover, companies are focusing on R&D to expand the utilization of different raw materials such as PBS, PLA, and PBAT in various mainstream packaging applications. For instance, in April 2017, UK-based Biome Bioplastics developed a fully compostable and recyclable coffee cup made entirely from bioplastic materials. These factors together are expected to provide an impetus to the growth of the bioplastic packaging market over the next seven years.

PET dominated the global market contributing to USD 1.84 billion in 2016. The polymer was extensively used in rigid packaging on account of its high durability, transparency, and ease of moldability. Initiatives undertaken by companies such as Coca-Cola, P&G, and Heinz to use bio-based materials for packing beverages, sauces & spreads and cosmetics is expected to bolster the growth of the rigid packaging market.

Increasing demand for flexible packaging solutions on account of several benefits including size and weight particularly in food applications coupled with rising demand for biodegradable films is anticipated to boost the growth of the market. The segment is expected to grow at a volume CAGR of 20.6% from 2017 to 2024.

Food packaging accounted for 9% of the overall market share in 2016 and is likely to witness above average growth as a result of rising consumer requirement for eco-friendly packaging. Aesthetic attributes such as transparency, size, weight and presentation are expected to drive the growth of the segment over the projected period.

Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/paints-coatings-and-printing-inks-industry

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