The North America Titanium Dioxide Market would witness market growth of 6.0% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,370.9 Kilo Tonnes, showcasing a growth of 5.4% (2019-2022).
The market is expected to increase as it is used in various forms, including paints and coatings, textiles, printing inks, and plastics. The market is growing due to the strong demand for paints and coatings across various end-use industries, including the construction and automotive sectors. There are several applications for titanium dioxide (TiO2) in paints and coatings. Adding pigments to paints and coatings improves heat resistance, brightness, and light stability.
Numerous end-use applications, such as automotive coatings, aircraft coatings, marine coatings, and architectural and decorative coatings, use titanium dioxide in combination with other colored pigments. Pigments are a set of intensely colored compounds that add color to other substances. Pigments are utilized to enhance the visual appeal of a substance. Coatings formulated using TiO2 have exceptional compatibility with polycarbonate, a thermoplastic used as an alternative to glass and metal-based materials. In the past few years, product utilization has increased as a result of an increase in demand for polycarbonates in the automotive industry caused by the need for lighter vehicles with greater fuel efficiency.
According to the U.S. Geological Survey, Mineral Commodity Summaries, January 2023, the value of titanium dioxide (TiO2) pigment manufacturing in 2022 was around $3.4 billion. Paints (including lacquers and varnishes), plastics, and paper were the primary uses of TiO2 pigment, listed in decreasing order. Catalysts, ceramics, coated materials and textiles, floor coverings, printing ink, and roofing granules were additional applications for TiO2 pigment.
With the rapid technological advancement and high disposable income of consumers in the region, there is a rising demand for lightweight and cost-effective automobiles. The region's growing support for the production and purchase of electric vehicles is anticipated to create lucrative opportunities for the use of titanium dioxide in automotive paints & coatings and plastics. Therefore, the region's widespread development and construction activity drives the market.
The US market dominated the North America Titanium Dioxide Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6,067.1 million by 2030. The Canada market is experiencing a CAGR of 6.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The 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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