Published Date: 2020-11-11
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According to the Graphical Research new growth forecast report titled North America Titanium Dioxide Market share will surpass USD 4.8 billion by 2026. Increasing titanium dioxide (TiO2) demand in the paints & coatings sector will propel industry growth over the forecast period. The product is widely used in various applications including architectural paints, waterborne & solvent-borne coatings, automotive paint, coil coatings, etc. Apart from these, ongoing trends related to self-cleaning technologies in different end-user industries are expected to drive product demand in the future. However, the product faces significant challenges owing to fluctuating prices of raw materials, which may hamper industry growth during the upcoming years.
The shutdown of major TiO2 production facilities in the U.S. along with government restrictions on the movement of goods for a very short period is expected to be a key hindrance in the production growth of titanium dioxide in North America in 2020. The major companies operating in the region witnessed a major dip in their product demand mainly in the second and third quarters of 2020 compared to the previous year. The disruption in the major end-user industries such as paints & coatings in the region has witnessed a diminishing demand for the product, thereby affecting the market size, in terms of both volume and value, during the second and third quarters of the year.
The paints & coatings application segment will have the highest growth potential and ability to capture the market. The growth is attributed to the rising demand for the product in construction and automotive paints applications over the next few years. The paints & coatings segment was closely followed by the plastic & rubber industry with a market share of around 20% in terms of revenue in 2019. In the rubber industry, titanium dioxide is widely used in rubber compounding as a colorant mostly to impact whiteness to the rubber products. Whereas in the plastic industry, it is used to improve its processability and as a protection from ultraviolet degradation.
The North American titanium dioxide market is mainly dominated by the U.S. with a market share of over 85% in 2019. This growth can be mainly attributed to the large paints & coatings and rubber industries present in the country. The country is witnessing significant competition from new players entering the regional market. For instance, in March 2019, INEOS acquired Cristal’s North American titanium dioxide business from Tronox for USD 700 Million.
Key participants involved in the North America Titanium Dioxide Market are Kronos, Venator Material Plc, Lomon Billions, The Chemours Company, and Tronox Holding Plc, among others.
North America 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 Growth, By Product
Market Value, By Application
The above information is provided on a country basis for the following:
North America
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