The Global Titanium Dioxide Market (2018-2023): Increase in Demand for Lightweight Vehicles in the Automobile Industry - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 10, 2018--The “Global Titanium Dioxide Market - Segmented by Grade, Application and Geography - Growth, Trends, and Forecast (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.
The market for titanium dioxide is expected to register a moderate CAGR during the forecast period, 2018 to 2023. This growth is primarily driven by the rapidly growing demand for paints & coatings and increase in demand for lightweight vehicles in the automobile industry.
Increase in Demand for Lightweight Vehicles in the Automobile Industry
Lightweight plastics are in high demand in the automotive industry due to their competitive pricing, style, reliability, strength, and safety. Plastic components weigh almost 50% lighter than similar components made from traditional materials, thus providing 25%-35% improvement in fuel efficiency, which is a key factor in the automotive and transportation industry. Every 10% reduction in the vehicle weight is estimated to result in a 5% to 7% reduction in fuel usage.
Polycarbonates are the most widely used lightweight plastic material to replace the traditional materials such as bronze, stainless steel, cast iron and ceramics in the automotive industry. Polycarbonates are characterized by their low scratch resistance, which makes it unfeasible for its usage in automotive applications. However, by the addition of titanium dioxide to these plastics, their scratch resistance, light resistance, heat resistance, and weather resistance is rapidly increased making them feasible for use in automotive applications.
The global automotive industry has registered a growth of 2.36% Y-o-Y in 2017 over 2016, reaching a total of 97,302,534 vehicles. Currently, to manufacture a typical four-wheel vehicle, 10 kgs of polycarbonate is used in various forms. With polycarbonate expected to replace conventional materials in the aforementioned industry, the demand for titanium dioxide is expected to grow at a rapid pace in the coming years.Key HighlightsPaints & Coatings Segment to Contribute Highest Demand to the MarketNorth America to Dominate the Market
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company ProfilesArgex Titanium Inc.CRISTALDowDuPontEvonik Industries AGGrupa AzotyKRONOS Worldwide Inc.Lomon BillionsPRECHEZA a.s.TAYCA CorporationThe Chemours CompanyThe Kish Company Inc.Tronox LimitedVenator Materials PLC (Huntsman Corporation)
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Related Topics:Electronic Chemicals,Paints and Coatings
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING
SOURCE: Research and Markets
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PUB: 10/10/2018 11:52 AM/DISC: 10/10/2018 11:52 AM