Market Insights
Market-focused reports linked with the chemical industry among others recently have been made accessible by Market Research Future which issues reports on this industry. The global opacifiers market is estimated to increase with a high CAGR in the forecast period.
Opacifiers are considered as additives that are added to transparent objects to make them opaque. With offering a more lavish appearance and increase the visual viscosity of products, the opacifiers are surfactant-based formulations. The procedure of conversion of a transparent object into opaque one is practiced with the help of three processes such as thermal expansion, crystallization, and suspended micro-bubbles. Apart from these, tin oxide and zircon compounds are considered to be as two common opacifiers.
Market Drivers Trends
The Opacifiers Market is mainly driven by factors such as high demand for applications such as paints coatings, plastics, and personal care. Considering the high demand for paints coatings in major industries such as construction, automotive, aerospace, electronics, and shipbuilding are deemed to be one of the major factors driving the global opacifiers market exponentially. The excellent hiding properties of opacifiers improves the performance of the paints coatings, which caters to its high demand.
On the other hand, rapid industrialization and urbanization has led to an increased residential and commercial construction activities in the emerging economies, which is driving the demand for paints coatings, and thus drives the growth of opacifiers market. Other factors such as high production and sales of automobiles and consumer electronics, due to the disposable income and the changing lifestyle and trend of the consumers transversely the globe are driving the global opacifiers market at a rapid pace.
Furthermore, the use of opacifiers in plastics is also an essential factor influencing market growth due to their capabilities to reduce embrittlement, fading, and cracking, occurring when materials are exposed to light. Besides, opacifiers are further added as additives in personal care and cosmetics products such as body washes, shampoos, and hair conditioners to provide a rich and creamy appearance. Due to excellent formulation compatibility and stability, opacifiers are recommended highly in these products.
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The mounting awareness concerning personal care and increasing affordability amongst the consumer is also driving the demand for personal care and cosmetics, which is expected to propel the demand for opacifiers during the forecast period. With the introduction of technological advancements to increase the efficiency of opaque polymers is a significant opportunity for manufacturers.
On the flip side, factors such as stringent regulations against oxides such as titanium oxide and antimony oxide are likely to hamper the opacifiers market growth during the forecast period.
Market Segmentation
The global opacifiers market has been segmented based on type, application, and region.
In terms of type, the market has been segmented as titanium dioxide, opaque polymers, zircon, zinc oxide, cerium oxide, antimony trioxide, tin oxide, and arsenic trioxide.
In terms of application, the market has been categorized as paints coatings, plastics, ceramics, paper, personal care, inks, fibers, home care, glass, and others.
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Regional Outlook
The global opacifiers market has covered key regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East Africa.
The market in Asia-Pacific led in 2017 owing to the high demand from paints coatings in construction, automotive, aerospace, and electronics. The immense growth of the market in this region is also attributed to the fast-paced industrialization and urbanization in countries such as India, Thailand, Malaysia, and Singapore.
North America had the second-largest market share in 2017 due to the high demand for opacifiers in paints coatings, aerospace, automotive, and electronics industries in the region. The developed militarily, and army strength in the US is one of the primary drivers of the high product demand for other military applications.
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Whereas, large production and sales of automotive parts in the Western European countries such as UK, Germany, France, and Italy are anticipated to fuel the demand for paints coatings, which will additionally drive the need for opacifiers and enhancing the market as well.
Key Players
The list of critical manufacturers effective in the global opacifiers market are DowDuPont (US), Arkema (France), Ashland (US), TAYCA (Japan), The Chemours Company (US), Tronox Limited (US), KRONOS Worldwide, Inc. (US), CRISTAL (Saudi Arabia), Alkane Resources Ltd (Australia), En-Tech Polymer.Co.,Ltd (South Korea), and Venator Materials PLC (UK).
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