According to a P&S Intelligence report, the global titanium dioxide market is predicted to generate a revenue of $24,026.1 million by 2030, increasing from $15,020.1 million in 2019, and is predicted to advance at a 4.5% CAGR during the forecast period (2020–2030). The market is registering growth due to the increasing consumption of pigments in the coatings industry, which, in turn, is due to their ability to impart brightness and scatter visible light and provide whiteness and opacity. In terms of process, the market is bifurcated into chloride and sulphate.
Between these two, the sulphate property accounted for the larger share of the titanium dioxide market in 2019. The sulphate process has the ability to extract the compound from various ores, including titania slag, rutile, and ilmenite, whereas, the chloride process can only extract this compound from rutile ores. The sulphate process further makes use of more mature and simpler technology, along with easy to use equipment that is resistant to corrosion. Owing to these factors, the bifurcation is also predicted to dominate the market during the forecast period as well.
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A major trend being witnessed in the titanium dioxide market is the shift towards self-cleaning technologies from conventional cleaning technologies, majorly for windows and smartphones. Titanium dioxide nanomaterials in self-cleaning technologies provide these materials with dirt resistance by triggering a reaction that breaks down the dirt. Moreover, an electrochemical reaction is triggered by the self-cleaning ability of this compound, thereby activating the compound and producing free radicals. These free radicals have the ability to decompose inactive fungi, bacteria, and viruses and pollutants before dissipating.
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The growing adoption of lightweight vehicles is also driving the demand for titanium dioxide. The demand for such vehicles is growing due to the surging concerns related to carbon footprints, automotive emissions, and fuel efficiency. Coatings that have titanium dioxide are increasingly being utilized for application on polycarbonate structures, which are utilized for manufacturing of lightweight automobiles. Such coatings have the ability to offer scratch resistance, stability, and durability to the polycarbonate structure.
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