The opacifiers market size is estimated to be USD 15.2 billion in 2018 and is expected to reach USD 20.6 billion by 2023, with a CAGR of 6.2% during the forecast period. Factors such as growth in end-use industries, namely, paints & coatings, plastics, and ceramics are expected to drive the market. The major restraint for the market will be the regulations imposed on usage of certain oxides. However, the role of nanotechnology and technological advancements in opacifier production will act as an opportunity for the market.
Players in the opacifiers market are mainly concentrating on new product launches, agreements, mergers & acquisitions, and expansions to meet the growing demand for opacifiers for various applications. New product launches help companies to strengthen their product portfolio and meet specific demands of customers.
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The growth of the opacifiers market has been largely influenced by expansions and mergers & acquisitions that were undertaken between 2013 and 2018. Companies such as Chemours Company (US), Tronox (US), and DowDuPont (US) have adopted expansions and mergers & acquisitions to enhance their market position.
DowDuPont (US) is one of the leading players in the opacifiers market. In order to expand its business, the company is focusing on enhancing its market reach by entering new markets and regions. For instance, in May 2017, DowDuPont signed an agreement to establish a new polymer manufacturing site in Jubail (Saudi Arabia). This expansion enabled it to capture the opaque polymers market in Saudi Arabia and to increase revenue. Similarly, Chemours Company (US) began the commercial startup of its new titanium dioxide line at its Altamira plant in the Mexican state of Tamaulipas in May 2016.
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The companies also adopted mergers & acquisitions as a strategy in order to expand their market presence. For instance, in September 2017, The Dow Chemical Company (US), announced the successful completion of the merger of equals with DuPont (US). This merger helped the companies to expand their business and to cater to the demand for opacifiers effectively through each other’s distribution network. Similarly, in June 2017, Tronox (US) acquired a stake of 24% in the National Titanium dioxide Company (Cristal), for USD 1.67 billion, which helped the company to strengthen its position in the market.
Chemours Company (US) is also amongst the leading suppliers of opacifiers. It caters to the demand for specialized opacifiers in North America, South America, the Middle East & Africa, Europe, and APAC. It has a strong foothold in the markets in APAC, North America, and Europe, generating a majority of its revenue. It has expanded its R&D centers and floor capacity by continuously investing in the expansion of laboratories, which enables the company to cater to the demand of customers effectively.