(PharmaNewsWire.Com, September 24, 2019 ) According to the new research report "Opacifiers Market by Type (Titanium Dioxide, Opaque Polymers, Zircon, Zinc Oxide, Cerium Oxide, Antimony Trioxide), Application (Paints & Coatings, Plastics, Ceramics, Paper, Inks, Fibres, Inks, Personal Care, Home Care, Glass) - Global Forecast to 2023", published by MarketsandMarkets™, the Opacifiers Market is projected to reach USD 20.6 billion by 2023, at a CAGR of 6.2% from USD 15.2 billion in 2018. Paints & coatings is the largest application in the Opacifiers Market. Paints & coatings have a wide range of applications in end-use industries, such as automotive, aerospace, marine, wood, general industrial, and others. Growth is observed in the coatings industry owing to their upcoming applications, for example, wood and plastics. The growth in end-use industries such as architecture, automotive, aerospace, marine, wood, and protective clothing is driving the Opacifiers Market in the paints & coatings applications.
Titanium dioxide is estimated to be the largest type segment in the Opacifiers Market in 2018.
Titanium dioxide is the largest type in the Opacifiers Market. The growth of end-use industries such as paints & coatings, personal care, and plastics are driving the demand for titanium dioxide. The growth is also attributed to the rising population in the region. With economic contraction and saturation in Europe and North America, manufacturers are shifting their base to APAC. China is the leading producer and consumer of titanium dioxide in the region. The strengthening economy of countries such as China and India attracts new investments. In addition, the growing demand and policies, such as emission control and the use of environmentally friendly products, have led to innovation in the plastics industry of the region. All these factors drive the titanium dioxide Opacifiers Market.
The paints & coatings segment is estimated to dominate the Opacifiers Market during the forecast period.
Paints & coatings is estimated to be the largest application in 2018 and is projected to continue its dominance throughout the forecast period. Factors such as increasing demand for coatings with better performance and durability and rising demand from end-use industries are driving the paints & coatings segment. The introduction of new technologies has increased the performance of coatings rapidly. Paints & coatings offer several benefits including crack bridging ability; high flexibility; waterproofing & weatherproofing; opacity; whiteness; brightness; and resistance to dirt, mildew, and chemicals. Owing to this, paints & coatings can be used to protect walls, floors, and roofs against heavy rainfall, strong wind, and snowfall. All these factors are driving the paints & coatings market, which, in turn, is driving the Opacifiers Market.
APAC to account for the largest share in the Opacifiers Market and the trend is expected to continue throughout the forecast period
The APAC Opacifiers Market is estimated to witness considerable growth on account of rapidly growing end-use industries such as paints & coatings, plastics, and ceramics. The demand for opacifiers is also propelled by the rising demand for personal care products and increased demand for paints & coatings. India and China are amongst the largest and fastest growing markets for opacifiers in terms of volume and value, due to the presence of the huge construction industry, which will further fuel the demand for opacifiers in the paints & coatings application.
The key market players profiled in the report include DowDuPont (US), Arkema (France), Ashland Global Holdings Inc. (US), Tayca Corporation (Japan), Chemours Company (US), Tronox Limited (US), Kronos Worldwide Inc. (US), Cristal (Kuwait), Alkane Resources Ltd (US), En-tech Polymer Co. Ltd. (South Korea), and Venator (UK).
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