According to the Graphical Research new growth forecast report titled Europe Titanium Dioxide Market share will surpass USD 5.8 billion by 2026. Europe will account for a significant share in the overall market throughout the study period. The share is attributed to the increasing demand for paints & coating products in the region. Growing construction activities in countries including Sweden, Hungary, Germany, Finland, etc., will stimulate the demand for paints in the coming years. The growing innovations in the paint industry, such as self-cleaning paints and antimicrobial paints, are projected to propel product demand in this sector. Apart from these, the increasing number of automobile vehicles across the region will further drive market demand over the forecast period.
The plastics & rubber segment will have the second-highest growth potential and ability to capture the market. The increasing usage of products in rigid PVC and masterbatches will drive their demand over the next few years. The textiles segment will have the third-highest growth potential and moderate ability to capture the market over the coming years. Self-cleaning fabric and growing concerns over disinfectants will further augment the product demand in the coming years.
The Europe titanium dioxide market will experience a decline of over 8% in 2020 compared to the previous year. The decline in growth is attributed to declining product consumption in the paints and coatings sector. Paint manufacturers have been adversely affected across the region due to the lockdowns announced by governments across different nations. For instance, PPG has announced that a 30% decline in sales volume might be witnessed in the second quarter of 2020 owing to the temporary closure of its operations. The automotive industry, which is a key consumer of paints and coatings, is expected to see a huge decline in sales volume in 2020. This will further reduce the demand for paints, in turn, adversely affecting the Europe titanium dioxide market. The rising number of coronavirus cases and lockdowns announced in countries including Italy, Spain, the UK, France, etc., are further declining production output in the region. Manufacturers, who rely on Chinese imports for titanium raw material have been majorly affected, in turn hampering the market The need to look for alternative options to increase the manufacturing output in 2020 is also another cause of decline in the market revenue in 2020. However, the market is projected to attain its normal course by the end of 2021.
Key participants involved in the titanium dioxide industry are Lomon Billions, Venator Material Plc, The Chemours Company, Kronos, and Tronox Holding Plc.
Europe titanium dioxide market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments:
Market Share, By Process
Market Size, By Grade
Market Trends, By Product
Market Forecast, By Application
- Paints & coating
- Paper & pulp
- Plastic & rubber
- Printing inks
The above information is provided on a country basis for the following:
- Slovak Republic