The global Titanium Dioxide Market is expected to reach USD 27.49 billion by 2024 owing to the increasing demand of titanium dioxide in paper, paint & coating, cosmetics, and plastic industries.
In 2014, DuPont titanium technologies started a manufacturing facility in Alamira, Mexico having a capacity of 200,000 tons/year which will help in fulfilling the demand worldwide.Rising demand for lightweight automobiles is expected to play a vital role in growth of global titanium dioxide market.
Materials such as polycarbonates are used in manufacturing of lightweight automotive which have low scratch resistance value.
Also, the product is used in various industries such as chemical intermediates, fiber, technical titanium, inks for printer and rubber.Keeping these driving factors in mind, companies are ramping up their production capacity.
It was also extensively used in plastics industry, paper industry, inks, and other specialty segments.
The growth of these sectors is expected to boost the market positively over the next few years.Plastic industry was the second largest segment due to the increasing applications as an excellent thermal stabilizer.