The Asia Pacific Titanium Dioxide Market would witness market growth of 6.6% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 2,363.6 Kilo Tonnes, showcasing a growth of 6.0% (2019-2022).
The skincare product demand is growing due to increased awareness about the trends, practices, and efforts made to appear appealing and youthful, such as maintaining healthy skin and an even skin tone. Consumers need skin care products due to environmental concerns such as pollution and global warming, as well as the effects of stress and variations in the weather, such as hot and humid summers and dry and harsh winters. As a result, the demand for titanium dioxide is expected to be considerably driven by the expanding cosmetics industry over the projected period.
Additionally, the rising investments in infrastructure development, increasing urbanization, and a booming housing industry are all driving the growth of the construction industry and driving up the demand for paints and coatings in emerging nations like China, India, and others. As a result, during the past several years, the substance has seen a growth in its use as pigments in the creation of sophisticated paints and coatings. The need for paints and coatings is propelling the demand for titanium dioxide by driving the focus on aesthetics and visual appeal in buildings.
India and China are among the world's largest automobile industries. According to the International Trade Administration, China remains the largest vehicle sector in annual revenue and manufacturing capacity, with the national output expected to reach 35 million vehicles by 2025. According to the Ministry of Industry and Information Technology, more than 26 million vehicles, including 21.48 million passenger vehicles, were sold in 2021, a 7.1% increase from 2020. Sales of commercial vehicles reached 4.79 million units. The increasing demand for passenger cars and commercial vehicles in these countries leads to higher TiO2 consumption in the automotive industry.
Both India and China have vibrant manufacturing sectors, including the production of consumer goods such as appliances, electronics, and plastics. TiO2 is used in coatings for these products to enhance their appearance and durability. As consumer goods production grows, so does the demand for TiO2. The increasing demand for titanium dioxide in Asia Pacific is driven by the growth of construction, automotive, manufacturing, agriculture, cosmetics, and other industries. As these economies continue to expand and consumer preferences evolve, the demand for TiO2 in various applications is likely to remain strong, making the region key player in the market.
The China market dominated the Asia Pacific Titanium Dioxide Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,137.6 million by 2030. The India market is registering a CAGR of 7% during (2023 - 2030). Additionally, The Japan market would showcase a CAGR of 6.3% during (2023 - 2030).
Based on Grade, the market is segmented into Rutile, and Anatase. Based on Production Process, the market is segmented into Sulfate, and Chloride. Based on Application, the market is segmented into Paints & Coatings, Plastics, Cosmetics, Pulp & Paper, and Others. Based on countries, the market is segmented into China, India, Japan, South Korea, Indonesia, Australia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Titanium Dioxide Market is Predict to reach $31.4 Billion by 2030, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kronos Worldwide, Inc., The Chemours Company, Tronox Holdings Plc, Evonik Industries AG (RAG-Stiftung), LB Group, Venator Materials PLC, Ishihara Sangyo Kaisha, Ltd., TAYCA Corporation, CATHAY INDUSTRIES, and TOR Minerals International, Inc.
By Grade (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Production Process (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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