MarketsandMarkets’ report, “Titanium Dioxide Market by Grade (Rutile, Anatase), Pro-cess (Sulfate, Chloride), Application (Paints & Coating, Plastics, Paper, Inks), & Region (North America, Europe, Asia Pacific, MEA, South America) – Trends and Forecasts up to 2026,” estimates the TiO2 market to be $20.9 billion in 2021. The report projects the titanium dioxide segment to reach $27.9 billion by 2026, at a CAGR of 5.9% between 2021 and 2026.
Paints and coatings are the largest application segment of titanium dioxide. Construction and automotive are major end-user industry for paints and coatings. The demand for titanium dioxide is driven by growth in these industries. The APAC region is the largest market for the construction industry, with China, India, and other Southeast Asian countries being the epicenter of construction activities.
The growth in paints and coatings is attributed to the growing construction industry, including both residential and non-residential infrastructure, across the world.
The sulfate process accounts for the largest share of the titanium dioxide market by process. The sulfate process is a batch process that utilizes sulfuric acid to extract titanium dioxide from ilmenite or titanium slag. The sulfate process for the manufacturing of tita-nium dioxide is particularly utilized in the APAC region, particularly in China.
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