of nearly 1.6Mt (TiO2 units)
but have subsequently fallen
back to just over 1Mt in 2015.
Imports are mainly sourced
from Australia, Kenya, Mozambique,
India and until 2013, Vietnam.
Roskill estimates that rutile accounted
for 9 percent of titanium feedstock production in 2015 with leading producing
companies including Iluka, Cristal and
Sierra Rutile. The dominant force in slag
production is Rio Tinto, through its whol-ly-owned RTFT subsidiary in Canada
and 74 percent-owned subsidiary RBM
in South Africa, together accounting for
57 percent of global output last year.
Looking forward, there will be a
change in the demand mix for feedstocks
as the TiO2 pigment process capacity
evolves. In 2015, chloride-route pigment
plants accounted for 39 percent of total
feedstock demand, while sulphate-route
pigment plants accounted for 44 percent,
compared with 46 percent and 41 percent respectively in 2005. Between now
and 2025, nearly all the net growth in
TiO2pigment demand will be from chloride-route pigment plants, which will account for just under 50 percent of total
feedstock demand, while sulphate route
pigment plants will account for just over
30 percent.
In the ten years up to 2015 there were
a significant number of mergers and acquisitions in the TiO2 pigment industry,
capacity expansions in China and latterly rationalization elsewhere in terms of
plant closures. Today there are 60 companies manufacturing TiO2 pigment, 42 of
which are based in China. China is the
world’s largest producer of TiO2 pigment
and in 2015 accounted for 40 percent of
the world’s effective production capacity.
In recent years there has been over-production of TiO2 pigment, with an average capacity utilization of within the
industry of just under 80 percent. As a
consequence none of the existing pigment
producers outside China are planning to
build any new plants. However, several
of the larger Chinese pigment producers
have plans to install new chloride-route
plants with the aim of replacing existing
sulphate-route plants.
In terms of demand, nearly all TiO2
is used as a pigment, but there are some
interesting non-pigment applications that
account for less than 5 percent of total
world consumption. Total global consumption was estimated at just under
6Mt in 2015.
The paint industry is the most important end-use sector and accounts for
some 55 percent of global consumption.
The plastics industry has consistently
shown faster growth as a TiO2 end use
sector, with a CAGR of 3 percent between
2005 and 2015, with TiO2 pigment used
in most polymer systems.
Looking ahead, higher economic
growth rates in North America and Japan
could result in increased levels of TiO2
pigment consumption. Lower inflation
rates in China could lead to a relaxation
of the Chinese government’s restraint on
infrastructure investment, including construction which could lead to increased
demand for TiO2 pigment. Roskill forecasts that global TiO2 demand will
increase by just over 4 percent py, outpacing world economic growth, ensuring
that longer term prospects for the TiO2
pigment industry are positive.
Worldwide Thermal Spray
Coatings Market Valued at
$8B by End of 2016
The long-term outlook for the global
thermal spray coatings market remains
positive, with market value expected to
increase at a CAGR of 5. 9 percent during
the forecast period. Cold spray and High-Velocity Oxy-fuel (HVOF) segments are
expected to expand at highest CAGRs
over the forecast period.
Persistence Market Research delivers key insights on the thermal spray
coatings market in its latest report titled
“Global Market Study on Thermal Spray
Coatings: Industry Analysis and Forecast,
2016-2024.”
Global sales of thermal spray coatings
are estimated to be valued at $7.6 billion
by 2016 end, witnessing a year on year
growth of 5. 6 percent over 2015. North
America and Europe are estimated to collectively account for a market value share
of over 50 percent in the global thermal spray coatings market by 2016 end
and are anticipated to remain dominant
throughout the forecast period.
The aerospace and power generation
industries are actively focusing on the
development of advanced surface coating processes. The presence of hexavalent chromium and environmental issues
related to it has caused various end-use
industries to look for alternatives. As a
result of this, thermal spray coatings have
gained traction as a replacement for hard
chromium plating in the aerospace industry. Revenue generated from sales of
thermal spray coatings is expected to increase at a CAGR of 5. 9 percent over the
forecast period.
By material type, ceramics segment
is expected to continue to dominate the
market in terms of value throughout
the forecast period. This segment is also
expected to witness high growth over
the forecast period. Metals, alloys, and
carbides are estimated to collectively account for a market value share of over
50 percent by the end of 2016. On the
basis of process type, cold spray segment is expected to expand at double-digit CAGR in terms of value over the
forecast period. This is mainly attributed
to it being suitable for depositing a wide
range materials on various types of substrate materials, especially those that are
temperature sensitive.
On the basis of application, aerospace
segment is expected to account for a market value share of 37. 4 percent, valued at
$4.7 billion by 2024 end. Industrial gas
turbines segment is expected to expand at
the highest CAGR in terms of value over
the forecast period. Increasing energy requirements across the globe are expected
to increase demand for high-performance
engines and turbines. This, in turn, is projected to fuel demand for thermal spray
coatings, as this process provides excellent coatings and exhibits superior resistance to wearing and corrosion. Hence,
Industrial gas turbines segment is anticipated to be the fastest growing segment
during the forecast period.
Sales of thermal spray coatings in
North America is estimated to account
for highest share by the end of 2016.
Sales in Asia Pacific is expected to increase at the highest CAGR over the
forecast period. CW
