Global Titanium Dioxide Market

Global Titanium Dioxide Market Size, Share, Growth Analysis, By Grade(Rutile, Anatase), By Process(Chloride, Sulphate), By Application(Paints, coatings), By End User(Automotive, construction industry) - Industry Forecast 2022-2028


Report ID: SQSG15A2012 | Region: Global | Published Date: October, 2022 | Pages: 157

Global Titanium Dioxide Market Insights

Global Titanium Dioxide Market was valued at USD 17.18 billion in 2021 and is expected to reach USD 25.83 billion by 2028. The market is expected to grow more at a CAGR of 6.0% over the forecast period (2022-2028).

Titanium dioxide (TiO2) is a powdered white chemical compound that provides bright white pigmentation. Paints and coatings, plastics, paper, cosmetics, food colorants, textiles, and other industrial and consumer products contain this mineral. It is also used as a pigment in paints and coatings in the construction and automotive industries, where it is used as roofing material and floor coverings, as well as in designing and coating automotive products and printing inks. Rising construction activity in developing regions as a result of population growth can be linked to a high demand for TiO2 for paints and coatings applications. Furthermore, the increasing use of plastics and rubber in various consumer products is fueling growth.

TiO2 nanoparticles have a wide range of applications in photovoltaic (PV) systems such as dye-sensitized solar cells, quantum dot-sensitized solar cells, polymer-inorganic hybrid solar cells, inorganic solid-state solar cells, and perovskite solar cells. Because of its effectiveness in improving the performance of dye-based cells, the product has a broad range of applications in PV cell coatings as a photoactive material. The increased use of clean energy sources has also fueled product demand in the PV cell application.

Market snapshot

Global Market Size

USD 17.18 billion

Largest Segment

Sulfate

Fastest Growth

Sulfate

Growth Rate

6.0% CAGR

Global Titanium Dioxide Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Titanium Dioxide Market Size by Method, 2021-2028 ($ Bn)
Global Titanium Dioxide Market Size by Method, 2021-2028 (%)

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Global Titanium Dioxide Market Segmental Analysis

Global titanium dioxide market is segmented based on grade, process, application, end user, and region. Based on grade, the market is segmented into rutile and anatase. Based on process, it can be categorized as chloride and sulphate. Based on application, it is again categorized as paints and coatings, plastics, pulp & paper, cosmetics and others. Based on product, it is segmented as pigmentary and ultrafine. Based on end user, it is segmented into automotive, construction industry, pharmaceutical and others. Based on region, it is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.

Analysis by Grade

Based on grade, the rutile segment held the largest market share and accounted for a profit margin in 2021, and it is expected to continue its dominance during the forecast period. Growing construction industry is anticipated to fuel the demand for rutile grade TiO2 during the forecast period.

The anatase pigment is primarily used in the production of enamels and welding electrodes, as well as fibers, ceramics, cosmetics, and pharmaceuticals. Pure TiO2 has a nearly 80% anatase content by weight and a 20% rutile content. Increasing demand for TiO2-based cosmetics is expected to drive anatase TiO2 demand during the forecast period.

Analysis by Process

In 2021, the sulfate production process segment dominated the global market. From 2022 to 2028, the segment is expected to grow at the fastest CAGR. The sulfate process for producing titanium dioxide is ideal for the production of paints and coatings. The growing automotive industry has increased demand for lightweight paints, which has increased demand for sulfate-based TiO2.

The chloride process has several advantages, including quick processing, easy capacity expansion, high automation, relatively low energy consumption, low waste production, and the production of higher quality products. As a result, manufacturers use this process to reduce processing time and increase TiO2 production.

Global Titanium Dioxide Market Share By Method, 2021 (%)

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Global Titanium Dioxide Market Regional Insights

Global titanium dioxide market is dominated by Asia Pacific and the region is expected to experience significant growth during the forecast period. India, China and other South-East countries have emerged as a significant contributor to market growth in the Asia Pacific region because of the increasing construction activities. The region held the largest revenue share of 41.44% in 2021. The automotive market in Asia Pacific is growing owing to the increasing demand for electric vehicles due to rising fuel prices and environmental pollution concerns associated with gasoline-powered cars.

Titanium dioxide acts as a scattering agent in automotive coatings and provides high chalk resistance with maximum gloss retention. In countries like China, rising development in the construction industry has resulted in increasing demand for paints and coatings. The utilization of TiO2 in China has outshined the U.S on account of its increasing demand in applications like plastics, paper & pulp, paints & coatings, cosmetics and others.

Increased building and construction activities in the North American region is expected to drive the titanium dioxide market. High demand for non-residential construction projects such as hospitals, commercial buildings, and colleges has aided the growth of the North American construction industry.

The Europe region is anticipated to have significant market expansion. This expansion might be ascribed to the rising market demand from customers at different income levels for lightweight, cost-effective vehicles that are environmentally friendly. The popularity of lightweight, durable products with fuel-efficient features is being driven by rising environmental consciousness.

Global Titanium Dioxide Market By Geography, 2021 - 2028
  • Largest
  • Fastest

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Global Titanium Dioxide Market Dynamics

Driver

  • The key market driver responsible for the market growth is rising demand for lightweight vehicles, which is supported by rising technological advancements and innovations in the automotive industry. Regulations governing emission policies may contribute to an increase in demand for fuel-efficient vehicles. This is expected to boost demand even more. Rising construction activities as a result of consumers' improving lifestyles and increasing renovation activities, as well as new infrastructure projects from governments, are driving the titanium dioxide market growth. Furthermore, growth in other industries such as appliance manufacturing, consumer goods, and electronics is supporting demand.

Restraint

  • Volatile nature in the cost of titanium dioxide may hamper the growth globally.
  • Acidic nature and improper use of titanium dioxide can cause environmental issues, and can restrain market growth.

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Global Titanium Dioxide Market Competitive Landscape

To maintain a competitive edge, major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the prominent market players are also focussing on concentrating on R&D. Various companies follow the work processes and companies such as Tronox Corp., Kronos Worldwide Inc., and Travancore are engaged in the extraction of raw materials as well as titanium dioxide productions which is a positive in the growth of the global market.

Top Player’s Company Profile

Recent Developments

  • In January 2022, LB Group stated the funding of USD 157.6 Million at the Xiangyang site to construct a new 200ktpa titanium dioxide (TiO2) pigment finishing plant.
  • In July 2021, Venator Materials PLC (“Venator”) declared a global price hike for all of its titanium dioxide pigments for coatings, plastics, inks, and paper applications.
  • In July 2020, Lomon Billions planned to invest USD 2 billion to expand mining operations in Panzhihua City in China, to manufacture ilmenite.

Global Titanium Dioxide Key Market Trends

  • Increasing use of TiO2 as pigments in paints and coatings, printing inks, textiles, rubbers, and other applications is positively impacting the market. Technological advancement has resulted in the use of TiO2 for lamination, metal decorative inks, and screen printing in the printing inks segment, creating new growth opportunities. Furthermore, the rising demand for lightweight vehicles due to improved fuel efficiency is expected to drive up demand. This mineral is used to coat plastic-based auto parts such as bumpers, interiors, and exteriors.

Global Titanium Dioxide Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global titanium dioxide market analysis, Asia Pacific (APAC) is expected to capture higher market share, the growth of the region is attributed to growing construction projects in the developing economies. India and China have emerged as a significant contributor to market growth in this region, thanks to the increasing household income which in turn, can boost the titanium dioxide market globally.

Report Metric Details
Market size value in 2021 USD 17.18 billion
Market size value in 2028 USD 25.83 billion
Growth Rate 6.0%
Base year 2021
Forecast period 2022-2028
Forecast Unit (Value) USD Billion
Segments covered
  • Grade
    • Rutile, Anatase
  • Process
    • Chloride, Sulphate
  • Application
    • Paints, coatings, plastics, pulp & paper, cosmetics, others
  • End User
    • Automotive, construction industry, pharmaceutical, others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Titanium Dioxide Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Titanium Dioxide Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Titanium Dioxide Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Titanium Dioxide Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Titanium Dioxide Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Titanium Dioxide Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Titanium Dioxide Market was valued at USD 17.18 billion in 2021 and is expected to reach USD 25.83 billion by 2028. The market is expected to grow more at a CAGR of 6.0% over the forecast period (2022-2028).

To maintain a competitive edge, major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the prominent market players are also focussing on concentrating on R&D. Various companies follow the work processes and companies such as Tronox Corp., Kronos Worldwide Inc., and Travancore are engaged in the extraction of raw materials as well as titanium dioxide productions which is a positive in the growth of the global market.'Lomon Billions Group','The Kerala Minerals & Metals Limited','The Tronox Holdings PLC','Tayca Corporation','Huntsman Corporation','The Chemours Company','Venator Materials PLC','Precheza','Kronos Worldwide Inc.','Ishihara Sangyo Kaisha Ltd.'

The key market driver responsible for the market growth is rising demand for lightweight vehicles, which is supported by rising technological advancements and innovations in the automotive industry. Regulations governing emission policies may contribute to an increase in demand for fuel-efficient vehicles. This is expected to boost demand even more. Rising construction activities as a result of consumers' improving lifestyles and increasing renovation activities, as well as new infrastructure projects from governments, are driving the titanium dioxide market growth. Furthermore, growth in other industries such as appliance manufacturing, consumer goods, and electronics is supporting demand.

Increasing use of TiO2 as pigments in paints and coatings, printing inks, textiles, rubbers, and other applications is positively impacting the market. Technological advancement has resulted in the use of TiO2 for lamination, metal decorative inks, and screen printing in the printing inks segment, creating new growth opportunities. Furthermore, the rising demand for lightweight vehicles due to improved fuel efficiency is expected to drive up demand. This mineral is used to coat plastic-based auto parts such as bumpers, interiors, and exteriors.

Global titanium dioxide market is dominated by Asia Pacific and the region is expected to experience significant growth during the forecast period. India, China and other South-East countries have emerged as a significant contributor to market growth in the Asia Pacific region because of the increasing construction activities. The region held the largest revenue share of 41.44% in 2021. The automotive market in Asia Pacific is growing owing to the increasing demand for electric vehicles due to rising fuel prices and environmental pollution concerns associated with gasoline-powered cars.

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Global Titanium Dioxide Market

Product ID: SQSG15A2012

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