The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
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Rutile is primarily composed of titanium dioxide. Synthetic rutile is produced from naturally-occurring ilmenite, which is a complex oxide of iron. Synthetic rutile is used as a byproduct of titanium dioxide. Synthetic rutile can be made of different colors by the doping method. Synthetic rutile, which has a relatively high titanium dioxide content and contains low levels of contaminants that affect the chlorination process, is also used in the pigment industry. It can be produced with varying degrees of purity. Variation in the quantity and type of impurity present depends on the source of ilmenite, as well as the method of extraction. Characteristically, synthetic rutile contains aluminum and ferrous impurities, which are common alloying additions for many commercial titanium alloys, reducing the dependence on costly master alloys further downstream. The synthetic rutile market varies as per the purity grade and application. Pigment companies have replaced natural rutile with the synthetic one. The production of synthetic rutile is regarded as more ethical and economical and is being increasingly adopted in the end-use industry.
Synthetic Rutile Market: Market Dynamics
The global upswing in economic activity is projected to rise substantially in the forthcoming years. The growth of the manufacturing sector across the world is translating into an increase in the global growth momentum, which is expected to have a considerable impact on various markets. Synthetic rutile is used in many industrial applications as a pigment. With the growing demand for synthetic rutile in the paper, food, plastic, and paint & coating industry, synthetic rutile is expected to deliver positive growth over the forecast period. Industrialization in developing countries is a prominent reason behind the growth of synthetic rutile. With the growing production of titanium, synthetic rutile production is also expected to increase.
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Natural rutile is not easily available. Hence, synthetic rutile is preferred. The high price associated with the extraction of natural rutile is also a significant factor for creating traction in the global synthetic rutile market.
Stringent environment regulations are expected to hamper the synthetic rutile market growth. Manufacturers will have to lessen environmental impacts by reducing the toxicity levels during rutile production.
Synthetic Rutile Market: Market Segmentation
On the basis of purity, synthetic rutile market can be segmented as-
- Purity below 90%
- Purity 90-95%
- Purity above 95%
On the basis of application type, synthetic rutile market can be segmented as-
- Paint and Coatings Industry
- Plastics Industry
- Paper industry
- Food Industry
Synthetic Rutile Market: Regional outlook
The Asia Pacific is expected to hold a significant share in the synthetic rutile market, as Australia and New Zealand are among the top producers of titanium metal. China is among the top growing countries in the Asia Pacific region. China is accounted for high growth and a large share in the synthetic rutile market due to a high production of titanium metal and titanium oxide. With growing industrialization in developing countries in the Asia Pacific region, high market growth is estimated. North America, followed by Europe, is expected to gain significant traction in the synthetic rutile market. As the demand in various end-use industries such as, paper, plastic, food, and others increases, the global consumption of synthetic rutile will also increase. Japan is also projected to have significant growth in the synthetic rutile market. Latin America and Middle East region are estimated to show sluggish growth in the synthetic rutile market.
Synthetic Rutile Market: Key Market Players
Examples of some of the market participants in the global synthetic rutile market identified across the value chain include:
- Tronox Limited
- TOR Minerals
- Murray Basin Titanium Pty. Ltd.
- Cristal Mining
- Dow Dupont
- Jiangxi Jinshibao Mining Machinery Manufacturing Co., Ltd.
- Abbott Blackstone
- Yucheng Jinhe Industrial Co., Ltd.
- Shanghai Yuejiang Titanium Chemical Manufacturer Co.
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