Titanium Dioxide Market
although stringent regulations in North America and Europe is anticipated to obstruct this segment from attaining its full potential in these two regions .
Geographically , Asia Pacific is the most important region , which is expected to account for 46.1 % of the global demand for titanium dioxide in 2023 . Most of this requirement comes from the country-wide market of China , the primary manufacturer and consumer of titanium dioxide globally . North America another lucrative region for titanium dioxide market , and is expected to account for 24.5 % of the market in 2023 . By volume , the U . S . contributes most of the demand with paints and coatings segment as the primary application , closely followed by Canada .
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Construction Industry Driving Demand Prosperity of the construction industry across the globe is the primary driver of the titanium dioxide market . Government-funded infrastructure plans , economic growth , rising population , and rapid urbanization are some of the factors favoring the construction industry , which is positively reflecting on the global market for titanium dioxide . Low scratch resistance of polycarbonates coupled with increasing demand for lightweight vehicles are two other prominent driving factors of this market . With escalating energy requirements and depleting natural resources , the need to increase vehicle fuelefficiency is touching new peaks , which makes titanium dioxide highly useful for the automotive industry .
Conversely , strict environmental regulations is hindering the market ’ s growth rate . Sulfate and chloride processes are chiefly employed in the production of titanium dioxide and wastes such as solid acid and acid wastes that are produced during the manufacturing process pose severe environmental and health hazards .
According to the author of the report , “ Increase in the demand for high-efficiency photovoltaic installations is likely to offer high growth opportunities for titanium dioxide coatings . These coatings are applied on solar panels to improve its efficiency .”
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