The opacifiers market will register a CAGR of over 6% by 2023
NEW YORK, June 5, 2019 /PRNewswire/ --
About this market
The high demand for titanium oxide-based opacifiers from ceramic industry is one of the critical factors that will trigger the growth of the global opacifiers market during the forecast period. Titanium oxide is used as a glaze opacifier and white pigment in the ceramic industry. It tends to crystallize on cooling and is thus used to impart whiteness to glazes. Ceramic manufacturers prefer titanium oxide-based opacifiers to other materials such as tin oxide and zircon, as they offer superior durability and strength to ceramic objects. The addition of small quantities of titanium oxide to opacified ceramics variegates the surface and imparts a variety of colors to the ceramics. Ceramics coated with titanium oxide repel dirt and reduce the damaging effects of pollutants such as carbon monoxide, nitrogen oxide, and sulfur oxide. The growing demand for ceramic products, such as tiles and refractories, will have a positive impact on the global opacifiers market during the forecast period. Our analysts have predicted that the opacifiers market will register a CAGR of over 6% by 2023.
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Market Overview
Growth in personal care industry
Opacifiers are used in the formulation of various personal care products, such as liquid soaps and other cosmetic products as they offer improved aesthetic and textural attributes. Growth in the personal care market is anticipated to fuel the adoption of opacifiers during the forecast period. Moreover, the emergence of China and India as the manufacturing hubs of personal care products, owing to a vast consumer base and the increasing purchasing power, is drawing heavy investments to the personal care industries in these countries. This will drive the growth of the global opacifiers market during the forecast period.
Increase in raw material prices
Zinc, titanium, and zircon are the raw materials used to manufacture opacifiers. The global supply of these raw materials has been restricted as the mining of these metals causes air and water pollution as well as damage to the local landscape. More than 60% of zinc mines were shut down in the Sichuan province, China, following environmental inspections. Vendors are under pressure to increase the prices of opacifiers, including titanium oxide, to increase profit margins. A shortage of raw material supply has led to an increased production cost, thereby increasing the prices of zinc, titanium, and zircon. Increased raw material prices have resulted in the reduced demand for opacifiers, thus hindering the market growth.
For the detailed list of factors that will drive and challenge the growth of the opacifiers market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented. The presence of several companies, including Arkema and Ashland Inc. makes the competitive environment quite intense. Factors such as the high demand for titanium oxide-based opacifiers from the ceramic industry and the growth in personal care industry will provide considerable growth opportunities to the opacifiers manufacturers. DowDuPont Inc., The Chemours Co., and Tronox Holdings Plc. are some of the major companies covered in this report.
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