Global Titanium Dioxide Market worth USD 32.02 Billion With a CAGR of 5.7%

Introduction

Titanium dioxide provides opacity, durability, tinting strength, and brightness in industrial coatings and coatings for commercial and residential interiors and exteriors, vehicles, airplanes, machines, appliances, traffic paint, and other special-purpose coatings. The amount of TiO2 used in paints and coatings depends on the intended opacity, color, and quality. The greater the opacity requirements of paints and coatings, the greater the titanium dioxide content.

Market Dynamics

Rising Demand from Paints and Coatings Application Drives the Global Market

Titanium dioxide is extensively utilized in paints and coatings. Titanium dioxide is utilized in numerous end-user applications, such as automotive, aircraft, marine, and architectural and decorative coatings. Increasing construction activities positively affect the demand for paints and coatings, generating a substantial need for titanium dioxide. The global demand for construction and infrastructure development is rising, particularly in emerging regions such as Asia-Pacific, Central and South America, and the Middle East, where the urbanization and industrialization rates are rising. Countries such as China, India, Japan, and other Southeast Asian nations are contributing considerably to expanding the construction industry in the Asia-Pacific. Increasing industrialization and urbanization, a growing middle-class population, and improving living standards are the primary forces driving construction growth in this region.

Growing Demand for Green Buildings Creates Tremendous Opportunities

The paints and coatings market is predicted to rise due to the rising demand for green buildings, which is expected to stimulate the expansion of the construction sector. This is anticipated to increase demand for titanium dioxide in paints and coatings over the coming years. The green buildings market is fueled by the efficient use of energy, water, renewable energy, reduced operational costs, enhanced air quality, and decreased overall load on metal structures relative to conventional buildings. In addition, social factors, such as nurturing a sense of community, improving occupant health and well-being, and promoting sustainable business practices, are driving the growth of green buildings.

Regional Analysis

Asia-Pacific is the most significant global titanium dioxide market shareholder and is predicted to exhibit a CAGR of 6.6% over the forecast period. China, India, Japan, Malaysia, Vietnam, Indonesia, and South Korea are anticipated to be the leading contributors to the expansion of the titanium dioxide market in the Asia-Pacific. This substance is used in automobiles, emulsion-bound plasters, and industrial coatings. The rising demand for lightweight automobiles is the primary factor driving market expansion. Due to its superior abrasion resistance, polycarbonate with titanium dioxide produces lightweight vehicles. This variable is anticipated to propel the product market in the near future. In addition, increasing demand for publication and printing will boost the industry over the coming years. The product is used in printing pigments with a wide spectrum of applications in the packaging, paper, and paperboard industries, which is anticipated to increase demand during the forecast period.

Europe is expected to grow at a CAGR of 4.6% over the forecast period. Titanium Dioxide Manufacturers Association (TDMA) is a group of the European Chemical Industry Council formed in 1974 with major producers of titanium dioxide. It is a non-profit organization that promotes and defends the merits of titanium dioxide in numerous applications by bringing forward evidence of its safety and efficiency. The members of this council, including CINKARNA Celje d.d., KRONOS Worldwide, Inc, LB Group, Precheza, TAYCA Co., Ltd., The Chemrous Company, Tronox Holdings plc, and Venator Materials PLC strive for responsible, safe, and sustainable manufacture and use of TiO2.

Key Highlights

• The global titanium dioxide market was valued at USD 19.17 billion in 2022. It is projected to reach USD 32.02 billion by 2031, growing at a CAGR of 5.7% during the forecast period. (2023–2031).
• Based on grade, the global titanium dioxide market is classified into anatase and rutile. The rutile segment dominates the global market and is predicted to exhibit a CAGR of 5.7% during the forecast period.
• Based on the production process, the global titanium dioxide market includes sulfate and chloride. The sulfate segment is the largest contributor to the market and is expected to grow at a CAGR of 6.1% over the forecast period.
• Based on the application, the global titanium dioxide market includes paints and coatings, plastics, pulp and paper, cosmetics, and others. The paints and coatings segment dominates the global market and is predicted to exhibit a CAGR of 6.2% during the forecast period.
• Asia-Pacific is the most significant global titanium dioxide market shareholder and is predicted to exhibit a CAGR of 6.6% over the forecast period.

Competitive Players

Competitive Players

The key players in the global titanium dioxide market are VV Mineral, Iluka Resources Limited, TiZir Limited, East Minerals, Yucheng Jinhe Industrial Co., Ltd., Chemours Company, Tronox Holdings plc, LB Group, Venator, Kronos Incorporated, Palmer Holland, Reade International Corp., Seidler Chemical Company, Foshan Xintu Chemical Co. Ltd., Sherwin Williams Company, PPG Industries, Inc., BASF SE, The International Paper Company, and Kao Corporation.

Recent Developments

Market News

• In May 2023, Effective August 1, 2023, the Coatings division of BASF will implement global units for its Automotive OEM Coatings Solutions and Automotive Refinish Coatings Solutions businesses. With the new organizational setup, BASF better serves its global customers, who increasingly ask for global support and services.
• In April 2023, BASF announced that it had received the International Sustainability and Carbon Certification (ISCC) PLUS for certain grades of plastic additives produced at its manufacturing sites in Kaisten, Switzerland, and McIntosh, Alabama, United States. This certification will enable BASF to offer more sustainable grades of its core plastic additives with a reduced Product Carbon Footprint (PCF) using renewable raw materials in a mass balance approach.

Segmentation

Global Titanium Dioxide Market: Segmentation

By Grade

• Anatase
• Rutile

By Production Process

• Sulfate
• Chloride

By Applications

• Paints and Coatings
• Plastics
• Pulp and Paper
• Cosmetics
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA