How to Start Manufacturing Business of Titanium Dioxide?

Knowing how to start a manufacturing company can be the only thing standing between you and your dream job. Do you have a notion, a goal, or a dream, but no method or manner to get started?

Every entrepreneur, at some point in their lives, has faced hurdles, and most successful business owners will tell you to "just start with full effort and dedication." However, the problem is still the same - where to begin.

That is why NPCS has included this tutorial - to help you get started, one step at a time.

To begin with, NPCS has a splendid guide on starting a Titanium Dioxide manufacturing plant in India.

Related Business Plan: Titanium Dioxide

About Titanium Dioxide

Titanium dioxide (TiO2) is a naturally occurring mineral that is mined, processed, and purified before being used in a variety of food products and consumer products. It has a white colour and is used to enhance the colour and gloss of some dishes, as well as for food safety purposes. It exists in several bulk crystalline forms in its natural state, such as anatase and rutile, but it is crushed into a very fine powder during processing.

Paper, ceramics, rubber, textiles, paints, and cosmetics all benefit from its natural and brilliant properties. It's also UV-resistant, therefore it's commonly found in sunscreens and pigments that will be exposed to sunlight. It can be found in a wide range of personal care products, including loose and pressed powders, eye shadow, blush, and sunscreens.

Watch Video: Production of Titanium Dioxide (TiO2) | Highly Profitable Chemical Business Ideas

Manufacturing Business of Titanium Dioxide in India

India has now established itself as a desirable destination for industrial investments, attracting both global and domestic firms. Surprisingly, India has witnessed a large number of young entrepreneurs enter the manufacturing of inorganic chemicals like industry TiO2, which is a positive sign of decentralisation of industrial development. Let us have a look at the many procedures to start a manufacturing business, as more and more entrepreneurs aim to explore the potential in the Indian TiO2 manufacturing industry.

1. Market Research

Market research is necessary for any industry and is required before beginning a firm. It aids in reaching logical conclusions regarding many aspects of the business, such as the size of the plant, location, investments, and so on. The market research gives you a comprehensive and detailed picture of the market and your competition.

From 2021 to 2028, the global titanium dioxide market is predicted to develop at a compound annual growth rate (CAGR) of 6.0%. The increasing demand for TiO2 from end-user industries is credited for the market's rise.

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2. Product Identification and Conceptualization

Product conceptualization entails compiling all your business concepts, such as the industry vertical, product line, and so on. Following the evaluation of the concepts, you will choose one product to manufacture based on a variety of factors such as market demand, supply, future demand forecast, raw material availability, production costs, and so on.

For example,

Growing construction activity in India and the demand for automobiles has a favourable impact on paint and coatings demand, resulting in a large increase in titanium dioxide demand. Growing urbanisation and population are driving infrastructure spending in India, which is likely to boost the construction industry's expansion over the next few years.

Due to the rising disposable income, rising middle-class aspirational spending, changing lifestyles, and a taste for high-quality products, the worldwide cosmetic business is seeing tremendous expansion. Furthermore, the increased demand for skin care products is driving up TiO2 demand.

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3. Finances

Almost all information about the project is covered in the detailed project report (DPR). It gives comprehensive information on a variety of business topics, including raw material costs, labour costs, machinery, fixed capital including land and buildings, working capital, financial resources, and return on investment (ROI). The techno-economic feasibility report (TEFR) determines if a project is technically and financially viable. It covers topics such as the technology to be employed, the financials required, the dangers associated, the likelihood of profit, and so on.

You can simply receive the money you need to launch your firm once the DPR and TEFR are completed. India provides numerous government programmes, subsidies, and grants that give financial assistance to MSMEs.

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4. Machinery Setup

Manufacturing sectors necessitate a diverse range of machinery, the nature of which is determined by the process involved. You can choose between manually operated, semi-automated, and fully automated machinery, depending on the scale and expenditure. Given the importance of machinery in production, you should get advice from a professional before placing an order.

Titanium dioxide is an inorganic chemical, but the manufacturing process involves too many hazardous works. Therefore, the machinery should be employed keeping in mind the safety of labours and staff.

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5. Certificates and Licences

The Titanium dioxide manufacturing industry is subject to several governments and relevant authority rules. Before you can put your product on the market, you'll need to get a lot of certifications and licences. The kind of certificates and licences you need is determined by the grade of titanium dioxide that is manufactured – rutile or anatase.

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6. Distribution and Logistics

The market is aware of your product because marketing has already been done before starting the manufacturing process. As a result, you can begin distributing products through a variety of methods. You must manage the supply chain and logistics to ensure that your items reach the end customer on time.

Conclusion

The global titanium dioxide market is predicted to reach USD 17.84 billion in 2022, up from USD 17.19 billion in 2021. The growing trend in the usage of titanium dioxide in various industries and sectors is constantly increasing its demand.

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