Europe Titanium Dioxide Market is the second-largest in the world with a value of over EUR 28 billion. EU also contributes to around 20% of the global titanium dioxide production.
Europe is a hub for various productions and the construction sector is one of those. Titanium dioxide is widely used in the construction sector for various purposes. The majority of the total consumption of Titanium Dioxide in Europe is by the construction sector hence this is one of the main drivers for the growth of the industry. Since Titanium dioxide is used in vehicle paints, it is highly demanded by the automobile industry. Despite the changes in the automobile industry from conventional to electrical vehicles, the demand for Titanium Dioxide did not drop as it was an essential element for vehicular coatings. Another use of titanium dioxide is that it is used in white pigment material due to its high refractive index. Titanium dioxide is also used to create decorative coatings and thus it also triggers its demand.
The extraction process of Titanium dioxide poses risks of health hazards and harmful environmental effects. In addition to that, the cost of extraction is on the higher side and thus industries do not prefer this process in developed countries. Stringent environmental regulation by the European Union is also a hindering factor.
Paints and Coatings
Paper and Plastics
Healthcare and Food Industry
The construction market in Europe is expected to grow between 3 to 4% in the forecasted period. This growth rate is attributed to the rapid urbanization in the region.
The European coatings market is one of the biggest consumers of Titanium dioxide and accounts for more than 50% of the total demand in the region. With advancements in technology, this segment has been growing at a very fast rate.
Technological improvement toward augmented manufacturing also poses growth opportunities for the Titanium Dioxide industry in Europe.
Geographical Overview and Regional Presence:
Out of all the members in the European Union, Germany accounts for about 30% of the total Titanium dioxide production. Printing ink in one of the popular segments where the demand is high.
Huntsman Corporation is planning to reduce its Titanium Oxide capacity to 100 kT which represents 13% of its total European capacity.
In May 2020, Tronox Holdings which is a leading manufacturer of titanium oxide pigment announced its agreement to acquire a Norwegian titanium smelting facility.
In Feb 2020, Evonik successfully completed the acquisition of PeroxyChem for a deal worth USD 640 million. Through this, they are strengthening their peroxide market.
Europe is currently facing an extreme economic slowdown amidst this pandemic and manufacturing sectors that require heavy lubricants and coatings have gone stagnant as Europe was the early hotspot during the pandemic. Before the pandemic, the growth rate in this business was flat because of the technological shift. Europe was one of the most affected regions by the pandemic and it has affected businesses severely. The coatings and thus in turn Titanium Oxide industries suffered huge losses and often were required to prove strong liquidity to avoid bankruptcy. The pandemic can bring some changes in the consumer segment of the industry which will eventually affect the demand as industrial coatings and paints are no longer being seen as a top priority. All in all, the Titanium Oxide industry is stagnant and the global pandemic has added much to its woes. In addition to this, the plastic market in Europe has been declining and thus the titanium oxide industry has also suffered amidst this pandemic.
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