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Titanium Dioxide Market

Titanium Dioxide Market: Information by Grade (Anatase and Rutile), Production Process (Sulfate and Chloride), and Region β€” Forecast till 2030

Published On : 16 Aug, 2022
Updated On : 17 Aug, 2022
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Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
17.23 %
Fastest Growing Market:
North America
Largest Market:
Asia-Pacific

The global titanium dioxide market was valued at USD 18.18 million in 2021. It is projected to reach USD 34.08 million by 2030, growing at a CAGR of 17.23% during the forecast period (2022–2030). Titanium dioxide (TiO2) is a white powder compound that imparts a brilliant white hue. This mineral is used in various industrial and consumer products, including paints and coatings, plastics, paper, cosmetics, food colorants, and textiles. Additionally, it serves as a pigment in printing inks and paints and coatings used in the building and automotive sectors to create roofing and flooring. Increasing environmental concerns regarding renewable energy sources are anticipated to increase the demand for solar panels made with titanium dioxide pigments. This is expected to drive growth in the Australian titanium dioxide market during the forecast period.

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Market Dynamics

Global Titanium Dioxide Market Drivers

Rising Demand for Skin Care Products

Titanium Dioxide (TiO2) is widely used in the cosmetics industry because it provides high color context, including higher intensity and brightness, helps absorb oils released by the skin, and protects it from ultraviolet rays. Due to rising disposable income, expanding middle-class aspirational spending, shifting lifestyles, and a preference for high-quality products, the global cosmetics industry is experiencing significant expansion. In addition, the rising demand for skin care products is fueled by the growing awareness of the importance of holding an even skin tone, healthy skin rituals, and efforts to appear beautiful and youthful.

Increasing Demand for Lightweight Vehicles

The primary market force behind the expansion of this market is the rising demand for lightweight vehicles, aided by rising technological advancements and innovations in the automotive sector. The rise in demand for fuel-efficient cars can be attributed to regulations over emission policies which are anticipated to increase demand. The expansion of the titanium dioxide market is primarily driven by rising construction activities brought on by consumers' improving lifestyles, rising renovation activity, and new government infrastructure projects. The demand is also being supported by expansion in other industries like consumer goods, electronics, and the manufacturing of appliances.

Global Titanium Dioxide Market Restraint

Growing Gap in Demand and Supply

The demand for titanium dioxide has grown significantly across various end-use industries. The COVID-19 pandemic has temporarily shut down production facilities, leaving a gap between supply and demand that prevents this demand from being satisfied. This widening gap between supply and demand restrains the market. Additionally, substitutes like antimony oxide and carbonates threaten the market demand for TiO2. Government rules about reducing industrial waste for environmental protection hinder market expansion.

Global Titanium Dioxide Market Opportunities

Increased Use of Ultrafine Particles of Titanium Dioxide in Cosmetics and Construction Industries

Titanium dioxide with particles smaller than 100 nm is considered ultrafine or nanoscale titanium dioxide. Some of the qualities of ultrafine nanomaterial titanium dioxide are excellent transparency, improved dispersibility, and improved ultraviolet (UV) scattering and absorbing properties. The cosmetics industry uses ultrafine titanium dioxide in various products, including creams, pressed and loose powders, eyeshadows, blush, and sunscreens. Titanium dioxide's ultrafine nanoparticles offer flawless results, enhanced sun protection, and brightness. Titanium dioxide nanoparticles are being used quickly in the building sector as well. Construction materials are combined with titanium photocatalyst to enhance self-cleaning, antibacterial action, air purification, and pollution resistance.

 

Segmental Analysis of the Global Titanium Dioxide Market

The global titanium dioxide market is segmented by grade, production process, and application.

On the Basis of Grade

Based on grade, the market is divided into anatase and rutile.

Rutile is the market's most significant revenue contributor and the segment with the most market share during the forecast period. Rutile grade TiO2 is used as a carrier in paint applications to produce white color in plastics and prevent color fading in the paper. The expanding construction sector is anticipated to increase demand for rutile grade TiO2. Along with being used to create enamels and welding electrodes, the anatase pigment is primarily utilized in textiles, ceramics, cosmetics, and pharmaceutical products. A smaller percentage of rutile, 20%, makes up most of the anatase content in pure TiO2. Rising demand for TiO2-based cosmetics is anticipated to drive anatase TiO2 demand during the forecast period.

On the Basis of Production Process

Based on the production process, the market is categorized into sulfate and chloride.

The sulfate production process segment dominated the market and generated the most significant global revenue share. This segment is anticipated to expand at a high CAGR during the forecast period. The sulfate method of producing titanium dioxide is ideal for producing paints and coatings. The growing automotive sector has increased the demand for lightweight paints, which has raised the need for TiO2 made from the sulfate. The chloride process has several advantages, including a shorter processing time, a high degree of automation, relatively low energy consumption, low waste production, and the production of higher-quality products. Therefore, manufacturers use this method to reduce processing time and increase TiO2 production.

On the Basis of Application

Based on application, the market is divided into paints and coatings, plastics, paper and pulp, and cosmetics.

The paints and coatings dominate the market and account for most global revenue. The segment is expected to experience the most significant growth during the forecast period. The construction and automotive industries have contributed significantly to the demand for paints and coatings, particularly in developing regions. TiO2's superior properties, including opacity, whiteness, light scattering, and a high refractive index, have increased its use in paints and coatings. The product is a necessary raw material for making emulsion paints, anticorrosion coatings, and decorative coatings for cars, airplanes, and boats. The demand for architectural and decorative coatings has been primarily driven by rising infrastructure investments in developing economies, which is anticipated to positively impact market growth during the forecast period.

 

Regional Analysis of the Global Titanium Dioxide Market

The global titanium dioxide market is segmented into four regions, namely North America, Europe, Asia-Pacific, Central and South America, and The Middle East and Africa.

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Asia-Pacific is the largest revenue shareholder and will dominate the titanium dioxide market. This can be attributed to the growing construction activities in India, China, and other Southeast Asian nations, which have stimulated the demand for paints and coatings in the region. The Asia-Pacific automotive market is expanding due to the rising demand for electric vehicles due to rising fuel prices and environmental concerns associated with gasoline-powered vehicles. Moreover, increased investments in electric vehicles by automotive manufacturers in the region are anticipated to increase automobile consumption. Titanium dioxide is a dispersing agent in automotive coatings and offers superior chalk resistance and gloss retention.

 

Competitive Analysis of the Global Titanium Dioxide Market

  • The Chemours Company
  • The Tronox Holdings plc
  • LB Group
  • Venator Materials PLC
  • KRONOS Worldwide Inc.
  • Evonik Industries AG
  • ISHIHARA SANGYO KAISHA, LTD.
  • CNNC HUAN YUAN Titanium Dioxide Co., Ltd.
  • The Kerala Minerals & Metals Limited
  • CATHAY INDUSTRIES
  • TOR Minerals International, Inc.

 

Recent Developments

  • June 2022- Evonik launched sustainable liquid polybutadienes with POLYVEST® eCO. With POLYVEST® eCO, Evonik'sEvonik's Coating & Adhesive Resins business line has launched a new range of sustainable liquid polybutadienes.
  • May 2022- Chemours Announced Process Innovation with New Viton™ Fluoroelastomers Advanced Polymer Architecture (APA) Offering. The Chemours Company ("Chemours"") (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, announced an industry-leading sustainable process innovation to produce Advanced Polymer Architecture (APA) grade Viton™ fluoroelastomers, without the use of a fluorinated polymerization aid.
  • April 2022- LB Group Promoted New Titanium Dioxide (Tioβ‚‚) Pigments for Coatings and Inks at ACS 2022. LB Group promoted its new TiO2 pigments for coatings and inks at the American Coatings Show in Indianapolis from 5-7 April 2022.

 

Global Titanium Dioxide Market: Segmentation

By Grade 

  • Anatase
  • Rutile

By Production Process 

  • Sulfate
  • Chloride

By Applications

  • Paints and coatings
  • Plastics
  • Paper and pulp
  • Cosmetics

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America
  • The Middle East and Africa
Report Metric Details
Market Size USD in Billion By 2030
CAGR CAGR 7.1%
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Type (Ultrafine, Pigmentory), Application (Paints and Coatings, Paper and Pulp, Plastics and Rubber, Cosmetics)
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Tronox Holdings plc, Venator Materials Plc, The Chemours Company, Travancore Titanium Product Ltd., Ishihara Sangyo Kaisha, Ltd., Tayca Corporation, Shanghai Jianghu Titanium White Product Co., Ltd., Lomon Billions, KRONOS Worldwide, Inc., PARSHWANATH GROUP OF INDUSTRIES,
Key Market Opportunities Growing Prevalence Of Bulk Chemicals Industry Helps To Grow Titanium Dioxide Market Share
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