The Europe Titanium Dioxide Market would witness market growth of 6.2% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 728.1 Kilo Tonnes, showcasing a growth of 5.6% (2019-2022).
Due to the rising demand for lightweight cars to achieve higher fuel efficiency, polycarbonate utilization in the automotive sector and the demand for the material have increased. The demand for light automobiles has particularly increased in developing nations recently. The paints and coatings sector also uses the substance as a flocculent, whitening agent, and dispersion agent. The product is a dispersive agent with strong chalk resistance and maximum gloss retention that is used in automotive coatings.
The cosmetics industry frequently uses titanium dioxide (TiO2) as a pigment. It offers high color context, including higher intensity and brightness, and protects the skin from ultraviolet light, making it an excellent choice for sun care products. Due to increased middle-class aspirational spending, changing lifestyles, rising disposable income, and consumer demand for high-quality goods, the worldwide cosmetics sector is expanding significantly.
The European region is expected to have significant market expansion. This growth could be attributed to the increase in market demand from consumers of various economic levels for lightweight, cost-effective, environmentally friendly automobiles. The adoption of items with fuel-efficient attributes, as well as those that are lightweight and long-lasting, is being driven by increasing environmental awareness.
As a result of its strong economic growth and technological advancements that enable affordable and fuel-efficient solutions for light vehicles, Germany is one of the leading regions to be engaged in the production of automobiles. According to Germany Trade & Invest, Germany's automotive sector is the country's most innovative industry, accounting for 34.1 percent of total German industry R&D expenditure of around EUR 71 billion in 2020. From 2022 to 2026, German automotive industry manufacturers and suppliers will invest over 220 billion euros in electric mobility and digitalization. These factors drives the market growth during the forecast period.
The Germany market dominated the Europe Titanium Dioxide Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,596.1 million by 2030. The Russia market is exhibiting a CAGR of 5.8% during (2023 - 2030). Additionally, The UK market would experience a CAGR of 5.9% 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 Germany, Russia, UK, France, Italy, Netherlands, and Rest of Europe.
Free Valuable Insights: The Global Titanium Dioxide Market will Hit $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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