Titanium Dioxide Market Information by Type (Ultrafine, Pigmentory), Application (Paints and Coatings, Paper and Pulp, Plastics and Rubber, Cosmetics), and Region — Forecast till 2029

Dec 09, 2020   Market Overview Titanium is the ninth most common element on the earth and is extracted from plants and animals. It naturally reacts with oxygen to form titanium oxides. Titanium dioxide is a solid inorganic white substance that is non-flammable, poorly soluble, and thermally stable. The compound is manufactured using either chlorine or sulphuric acid. It is commonly used in painting and coating, plastic and rubber, adhesive, food and beverages, cosmetics, and paper and pulp industries. The ris...
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Market Overview

Titanium is the ninth most common element on the earth and is extracted from plants and animals. It naturally reacts with oxygen to form titanium oxides. Titanium dioxide is a solid inorganic white substance that is non-flammable, poorly soluble, and thermally stable. The compound is manufactured using either chlorine or sulphuric acid. It is commonly used in painting and coating, plastic and rubber, adhesive, food and beverages, cosmetics, and paper and pulp industries. The rising demand for the compound from the automotive and paints and coating industries drives the market growth.

The titanium dioxide market was valued at USD 19,479.7 million in 2019 and is projected to reach USD 37,834.0 million by 2029, with a CAGR of 7.1%.

Rapidly Expanding Construction Sector across the Globe

Titanium dioxide is used in making products, such as paints, inks coatings, adhesives, ceramics, floor coverings, and roofing materials. These products are extensively used while constructing a building. The growth in the construction sector is a significant factor for the growth of the titanium dioxide market.

Spending-USD-Trillions

Source: Statista, RM Analysis

Titanium dioxide is a white powder widely used as a pigment. It is naturally opaque and bright and gives a pure white color formation, which is why it is extensively used in white paint manufacturing. White paint is the primary paint used for any newly constructed building, further driving the demand for titanium dioxide.

The construction of mobile homes is increasing at fast pace, owing to improved product quality and low prices. The mobile homes incorporate plastics and other cheap flooring products that use titanium dioxide. Moreover, titanium dioxide possesses durable, non-flammable, and insoluble qualities, making it a better choice in the construction materials of mobile homes.

Rising Demand for TiO2 in Vehicles Paints

Titanium dioxide is extensively being utilized in the automotive sector for paint and coating applications. Automotive OEM and refinish coatings are among the most demanding applications for titanium dioxide pigments in recent times. Aesthetics is an important thing considered in today’s world, whether it is construction, designing, or manufacturing. A large number of big companies, such as The Chemours Company, Tronox, and Venator, are offering several grades of titanium dioxide for automotive coating applications for OEM manufacturers and refinish formulators.

Titanium dioxide is a substance that makes cars or any other vehicle brighter. Hence, manufacturers are incorporating it into the coating of cars and other automotive parts. When buying a vehicle, the very first thing that we look at is the color of the vehicle. Thus, vehicle paint is gaining great importance while manufacturing a vehicle. Also, as lead oxide used in paints has been widely banned, titanium oxide pigment has become popular worldwide. Titanium oxide is the most durable material compared to other pigments and has high hiding power or opacity that provides full substrate coverage with less pain.

Titanium dioxide also has a greater refractive index and light scattering properties, which helps in protecting the car exterior from UV rays and keep the car cooler. New and existing players in the titanium dioxide market can target the automotive sector as the demand for vehicle paints is increasing.

Titanium Dioxide Market: Segmentation

Pigmentary: Most Commonly Used Form of Titanium Dioxide

Pigmentary is the most commonly used form of titanium dioxide. However, ultrafine is gaining traction over the last few years, owing to its different and versatile applications, especially in coatings and plastic additives. The ultrafine form of titanium dioxide is consumed in UV-absorbing transparent coatings, cosmetics UV blockers, photocatalysts, and automobile coating. The rising number of companies that offer ultrafine titanium dioxide is likely to fuel the growth of the market in the upcoming years.

Paints and Coating Segment to Hold the More Than Half of the Market Share

The paints and coating segment dominates the titanium dioxide market, with a market share of more than 50% in 2019. The paint and coating are used almost everywhere, from walls of home and offices to furniture and toasters. Building exteriors, cars, bridges, industrial pipelines, and superstructures are all decorated with various paints and coatings. In addition to that, paints and coating are used in catheters, surgical instruments, and electronic gadgets. Such a Titanium dioxide helps in increasing the overall appearance, quality, and lifespan of the paints and coatings. The Asia-Pacific is the largest market for paints and coating, so it is the largest market for titanium dioxide. 

Regional Overview

The U.S. to Spearhead North America’s Titanium Dioxide Market

The consumption of titanium dioxide is high in North America, owing to the presence of huge automotive, plastics and rubber, and cosmetics industries. The region is among the top markets for titanium dioxide, owing to the presence of key market players, such as The Chemours Company, Tronox Holdings Plc, and Venator. The competition among the players is high in North America due to a large number of medium and small players active in the market. On May 1, 2019, INEOS Enterprises (a U.K.-based multination chemical company) announced that it had completed the acquisition of Cristal’s TiO2 business from Tronox for USD 700 Million. 

The evolving automotive and aerospace industry in the region is the prime factor for market growth. Titanium dioxide performs great in extremely cold and hot environments, such as outer space and aircraft engines. According to ITA, in 2018, the aerospace industry contributed USD 151 billion in export sales to the U.S. economy. 

The U.S. has one of the largest automotive markets in the world. According to Statista, in 2019, car sales in the U.S. were around 4.7 million units. Moreover, the revenue generated from retail sales of motor vehicles and parts in the U.S. was around USD 1.25 trillion in 2019. As per the ‘The International Trade Administration (ITA)’ in 2018, the light vehicle sales in the U.S. reached 17.2 million units. The U.S. is the world’s second-largest market for vehicle production and sales. The demand for TiO2 is high in the automotive industry for coatings and paint.

Competitive Landscape

  • 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

The Chemours Company is the largest player in the global titanium dioxide market. The company has high strategic development and market penetration rate as compared to its peers. It focuses on growing and capturing huge market share through smart acquisitions. For instance, in 2019, the company acquired Southern Ionics Minerals, a mining company with operations in Georgia and Florida. This acquisition has increased the company’s internal supply of high-quality ilmenite ore, which is used in the manufacturing of titanium dioxide. The company is also launching new products to retain its position in the market. For instance, the company launched the Ti-Pure™ Value Stabilization (“TVS’) strategy to maintain and enhance the titanium technologies business.

Tronox Holdings Plc is a second prominent player involved in the manufacturing of titanium dioxide pigments. The company is focusing on acquisition and production capacity expansion. For instance, in April 2019, the company completed the acquisition of ‘The National Titanium Dioxide Company Limited’ of the Kingdom of Saudi Arabia, it is known as Cristal. This is a privately held global mining and chemical company. This acquisition helped the company to enhance its titanium dioxide business in Saudi Arabia. Moreover, on May 14, 2020, Tronox Holdings plc announced that it had signed a strategic agreement to acquire the TiZir Titanium and Iron (TTI) business from Eramet S.A., for around USD 300 million. TiZir’s TTI facility has the capacity to produce 230,000 tons of high-grade titanium slag and 90,000 tons of high-purity pig iron.

Titanium Dioxide Market: Segmentation

By Type

  • Ultrafine
  • Pigmentary

By Application

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

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • Portugal
  • Poland
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • The Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • The Rest of Africa

Market Overview

Titanium is the ninth most common element on the earth and is extracted from plants and animals. It naturally reacts with oxygen to form titanium oxides. Titanium dioxide is a solid inorganic white substance that is non-flammable, poorly soluble, and thermally stable. The compound is manufactured using either chlorine or sulphuric acid. It is commonly used in painting and coating, plastic and rubber, adhesive, food and beverages, cosmetics, and paper and pulp industries. The rising demand for the compound from the automotive and paints and coating industries drives the market growth.

The titanium dioxide market was valued at USD 19,479.7 million in 2019 and is projected to reach USD 37,834.0 million by 2029, with a CAGR of 7.1%.

Rapidly Expanding Construction Sector across the Globe

Titanium dioxide is used in making products, such as paints, inks coatings, adhesives, ceramics, floor coverings, and roofing materials. These products are extensively used while constructing a building. The growth in the construction sector is a significant factor for the growth of the titanium dioxide market.

Spending-USD-Trillions

Source: Statista, RM Analysis

Titanium dioxide is a white powder widely used as a pigment. It is naturally opaque and bright and gives a pure white color formation, which is why it is extensively used in white paint manufacturing. White paint is the primary paint used for any newly constructed building, further driving the demand for titanium dioxide.

The construction of mobile homes is increasing at fast pace, owing to improved product quality and low prices. The mobile homes incorporate plastics and other cheap flooring products that use titanium dioxide. Moreover, titanium dioxide possesses durable, non-flammable, and insoluble qualities, making it a better choice in the construction materials of mobile homes.

Rising Demand for TiO2 in Vehicles Paints

Titanium dioxide is extensively being utilized in the automotive sector for paint and coating applications. Automotive OEM and refinish coatings are among the most demanding applications for titanium dioxide pigments in recent times. Aesthetics is an important thing considered in today’s world, whether it is construction, designing, or manufacturing. A large number of big companies, such as The Chemours Company, Tronox, and Venator, are offering several grades of titanium dioxide for automotive coating applications for OEM manufacturers and refinish formulators.

Titanium dioxide is a substance that makes cars or any other vehicle brighter. Hence, manufacturers are incorporating it into the coating of cars and other automotive parts. When buying a vehicle, the very first thing that we look at is the color of the vehicle. Thus, vehicle paint is gaining great importance while manufacturing a vehicle. Also, as lead oxide used in paints has been widely banned, titanium oxide pigment has become popular worldwide. Titanium oxide is the most durable material compared to other pigments and has high hiding power or opacity that provides full substrate coverage with less pain.

Titanium dioxide also has a greater refractive index and light scattering properties, which helps in protecting the car exterior from UV rays and keep the car cooler. New and existing players in the titanium dioxide market can target the automotive sector as the demand for vehicle paints is increasing.

Titanium Dioxide Market: Segmentation

Pigmentary: Most Commonly Used Form of Titanium Dioxide

Pigmentary is the most commonly used form of titanium dioxide. However, ultrafine is gaining traction over the last few years, owing to its different and versatile applications, especially in coatings and plastic additives. The ultrafine form of titanium dioxide is consumed in UV-absorbing transparent coatings, cosmetics UV blockers, photocatalysts, and automobile coating. The rising number of companies that offer ultrafine titanium dioxide is likely to fuel the growth of the market in the upcoming years.

Paints and Coating Segment to Hold the More Than Half of the Market Share

The paints and coating segment dominates the titanium dioxide market, with a market share of more than 50% in 2019. The paint and coating are used almost everywhere, from walls of home and offices to furniture and toasters. Building exteriors, cars, bridges, industrial pipelines, and superstructures are all decorated with various paints and coatings. In addition to that, paints and coating are used in catheters, surgical instruments, and electronic gadgets. Such a Titanium dioxide helps in increasing the overall appearance, quality, and lifespan of the paints and coatings. The Asia-Pacific is the largest market for paints and coating, so it is the largest market for titanium dioxide. 

Regional Overview

The U.S. to Spearhead North America’s Titanium Dioxide Market

The consumption of titanium dioxide is high in North America, owing to the presence of huge automotive, plastics and rubber, and cosmetics industries. The region is among the top markets for titanium dioxide, owing to the presence of key market players, such as The Chemours Company, Tronox Holdings Plc, and Venator. The competition among the players is high in North America due to a large number of medium and small players active in the market. On May 1, 2019, INEOS Enterprises (a U.K.-based multination chemical company) announced that it had completed the acquisition of Cristal’s TiO2 business from Tronox for USD 700 Million. 

The evolving automotive and aerospace industry in the region is the prime factor for market growth. Titanium dioxide performs great in extremely cold and hot environments, such as outer space and aircraft engines. According to ITA, in 2018, the aerospace industry contributed USD 151 billion in export sales to the U.S. economy. 

The U.S. has one of the largest automotive markets in the world. According to Statista, in 2019, car sales in the U.S. were around 4.7 million units. Moreover, the revenue generated from retail sales of motor vehicles and parts in the U.S. was around USD 1.25 trillion in 2019. As per the ‘The International Trade Administration (ITA)’ in 2018, the light vehicle sales in the U.S. reached 17.2 million units. The U.S. is the world’s second-largest market for vehicle production and sales. The demand for TiO2 is high in the automotive industry for coatings and paint.

Competitive Landscape

  • 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

The Chemours Company is the largest player in the global titanium dioxide market. The company has high strategic development and market penetration rate as compared to its peers. It focuses on growing and capturing huge market share through smart acquisitions. For instance, in 2019, the company acquired Southern Ionics Minerals, a mining company with operations in Georgia and Florida. This acquisition has increased the company’s internal supply of high-quality ilmenite ore, which is used in the manufacturing of titanium dioxide. The company is also launching new products to retain its position in the market. For instance, the company launched the Ti-Pure™ Value Stabilization (“TVS’) strategy to maintain and enhance the titanium technologies business.

Tronox Holdings Plc is a second prominent player involved in the manufacturing of titanium dioxide pigments. The company is focusing on acquisition and production capacity expansion. For instance, in April 2019, the company completed the acquisition of ‘The National Titanium Dioxide Company Limited’ of the Kingdom of Saudi Arabia, it is known as Cristal. This is a privately held global mining and chemical company. This acquisition helped the company to enhance its titanium dioxide business in Saudi Arabia. Moreover, on May 14, 2020, Tronox Holdings plc announced that it had signed a strategic agreement to acquire the TiZir Titanium and Iron (TTI) business from Eramet S.A., for around USD 300 million. TiZir’s TTI facility has the capacity to produce 230,000 tons of high-grade titanium slag and 90,000 tons of high-purity pig iron.

Titanium Dioxide Market: Segmentation

By Type

  • Ultrafine
  • Pigmentary

By Application

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

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • Portugal
  • Poland
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • The Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • The Rest of Africa