International. According to a new report, the global titanium dioxide market was valued at €11.75 billion in 2013 and is projected to reach €15.31 billion in 2020, growing at a CAGR of 3.8% from 2014 to 2020.
Based on the application, the demand for titanium dioxide has been segregated into four major segments: paints and coatings, plastics, paper and others. Paints and coatings was the largest application segment of titanium dioxide in 2013 and accounted for more than 50% of the market share in that year.
This trend is expected to continue during the forecast period. Plastic is anticipated to be the fastest growing segment in the application due to high growth in end-user industries such as packaging and automotive.
The demand for light vehicles has increased due to the increasing acquisition of fuel-efficient vehicles. This trend is estimated to continue during the forecast period. Polycarbonate, a thermoplastic, is used as a substitute for automotive parts and metal-base glass in lightweight materials. However, the low scratch resistance of polycarbonate has slowed its growth in the market. Titanium dioxide is one of the main coating materials used for the polycarbonate layer.
