ILMENITE MARKET ANALYSIS

Regional Analysis

Market Outlook

Owing to the rapidly expanding textile and leather industries, the Asia Pacific region is expected to account for a significant market share. Furthermore, the growing production of fabrics such as silk and nylon in countries such as India and China is adding to the demand for acid dyes in this region. Some of the manufacturers based in Europe and North America are shifting their manufacturing base to Asia Pacific. Europe is expected to witness a considerably slower growth owing to strict regulations by environmental agencies in the region. For instance, production of Acid Red 128, has been banned in Europe owing to the toxic intermediaries used in its manufacturing process. However, growing awareness and preference for ecofriendly products is expected to positively impact the market growth in the region.

Asia Pacific holds dominant position in the global ilmenite market and is expected to maintain its dominance during the forecast period. This is owing to presence of major sources of ilmenite in the region. Ilmenite is found in eastern coast and western coast of Australia and in India. The market is also expected to be the fastest growing market, owing to significant growth in the paints and coating industry in countries such as India and China.