Australia Market Study on Titanium Dioxide: Paints and Dyes Application to Dominate Over the Forecast Period 2016-2024
- Rep Id : XPLREP1057
- Published On : August, 2016
- No. of Pages : 83
- Category : Chemicals
Mushrooming Adoption in Painting Applications Ensure Abundant Growth Opportunities for Australian Titanium Dioxide Market
The Australian Titanium dioxide market is forecasted to grow at a moderate value CAGR of 4.0% during the forecast period, according to a market study by XploreMR. Primarily used as a pigment in paints, coatings, plastics, rubber, paper, and semiconductors, titanium dioxide is finding substantial adoption in the automobile and housing industries for painting purposes.
Moreover, titanium dioxide is widely used in numerous industries, such as paints & coatings, plastics, and paper, among others, on the back of its brightness and high reflective index. In addition, the rising installation of solar panels in the region is also propelling the demand for titanium dioxide and will drive the market on a positive growth trajectory. On the other hand, factors such as global economic slowdown and growing use of substitutes such as silica in solar panels are expected to restraint the growth of the titanium dioxide market.
Usage of Titanium Dioxide Pigments in Paints & Coatings Shape Growth Trajectory
The surging demand for titanium dioxide in the automotive and housing sectors on the back of high disposable incomes and increased spending on infrastructure renovations are major growth opportunities for the Australian titanium dioxide market.
The demand for titanium dioxide in the aforementioned industries is closely associated with the burgeoning consumption of the chemical in the paints & coatings industry as a pigment, which in turn is used in other end-use sectors. On this premise, the adoption of titanium dioxide is mutually beneficial for multiple end-use segments with paints & coatings forefronting the end-use segment.
Additionally, growing environmental concerns regarding energy sources are asserting consumers to seek solar panels, thus subsequently driving demand for titanium dioxide in the installation of these panels. Besides, Australia gains remunerative opportunities by exporting titanium dioxide pigments to North America and Europe.
Among the product types, the pigment segment currently holds the majority of market share, accounting for more than 90% of market value, and is expected to remain the dominant segment. Backed by high adoption dyes & paints and plastics & rubber, segments, the pigment will grow in value at a 4.0% CAGR during the forecast period.
On the other hand, on the basis of mineral grade, the laminate grade titanium dioxide currently accounts for nearly 95% of market value and will remain the most sought-out mineral grade.
Based on the end-use application, the dyes & paints segment is projected to channel the majority of revenue, accounting for nearly 2/3rds of revenue share and is anticipated to remain the leading end-use segment for Australian titanium dioxide market.
Western Australia to Prevail Leading Regional Market
On the basis of regions, the Australia titanium dioxide market is segmented into New South Wales, Victoria, Queensland, Western Australia, and the rest of Australia. Among the regions, the Western Australia region is projected to reign supremacy through the forecasted period, backed by a strong presence of market players, whereas Victoria is anticipated to remain the second-most lucrative region.
Competitive Landscape of Australian Titanium Dioxide
The major market players in the Australia titanium dioxide market studied in the report are Tronox Limited and Cristal Australia Pty Ltd. Both these players are focusing on reducing operational costs to expand profit margin, and are investing in sustainable technologies in the production of titanium dioxide pigment, to reduce the waste.