International.
The global TiO2 market was valued at more than $16 billion in 2016 and is expected to exceed $20 billion by 2021.
In terms of geographical analysis, APAC is the largest shareholder in the global market, with a market share of around 43%. The increasing demand of the construction industry in countries like China and India will lead to the growth of the market in this region.
According to Angad Singh, procurement specialist at Technavio, "The new trend in the market is a shift towards the chloride process, ensuring high quality, faster production rates and reduced emissions. Several suppliers from growing economies use the sulfate process to manufacture TiO2 due to its relatively low production cost. The growing demand for high-quality TiO2 and technological assistance from major suppliers have led to a superior shift towards the chloride process among manufacturers from growing economies."
Growing investments in construction activities in emerging countries such as India, China and Indonesia will drive demand in the global market. The growth of the construction industry is attributed to factors such as increasing urbanization and global economic growth is expected to drive demand for paints and coatings. The increasing demand for paints and coatings will have a significant impact on the growth of the TiO2 market during the forecast period.
