In 2017, the global titanium dioxide market size was USD 15.03 billion and is expected to grow steadily in the forecast period owing to its growing demand in end use industries such as plastics, coatings, paper, cosmetics and others. Furthermore, technological innovations in manufacturing processes, which have resulted in higher and good quality yield, positively impact the overall titanium dioxide market.
The global Titanium Dioxide market is projected to reach US$ 22.7 Bn by 2031, growing at a CAGR of 3.7%
Titanium dioxide is a white solid inorganic substance which occurs naturally in several kinds of rock and mineral sands. Titanium dioxide has good light-scattering properties and generally used in applications which require white opacity and brightness. It is used in a vast range of industrial applications such as paints, coatings, rubber, printing inks, plastics, rubber, coated fabrics and others. Hence, the rise in global building and infrastructure industry has driven the global titanium dioxide market.
Within the titanium dioxide market, the paint & coatings segment had the major share in 2017 and it is expected to have the largest share in the forecast period as well. The increasing demand for industrial and architectural paints & coatings in emerging countries of Asia-Pacific region, such as India and China, have offered sound opportunities for titanium dioxide in the coatings industry, which will propel the growth of titanium dioxide market over the forecast period. However, regulatory pressure in China is causing producers of titanium dioxide to limit the production which can act as a restraint to the growth of titanium dioxide market.
Titanium dioxide is usually marketed in rutile or anatase form. The rutile form has the biggest share among the two product forms of titanium dioxide market. The rutile form pigment can be produced via the sulphate process using sulphuric acid or the chloride process using chlorine. As compared to sulphate process, the chloride process is more expensive and mostly produced in the US. The anatase sector is low-priced and its main applications are paper manufacturing, food and cosmetics. There is a very little difference in the end use application of titanium dioxide, depending upon the production method employed. For instance, printing inks pigment is produced using anatase crystal form via sulphate process.
The recent trend of using titanium dioxide as a nanomaterial has a positive impact on the overall growth of titanium dioxide market. Titanium dioxide as a nanomaterial exhibits UV shielding effect and is widely used in cosmetics, ceramics, cleaning and sanitary, indoor air quality control and construction & exterior protection industry. It also can be used to decompose environmental pollutants by photocatalysis. For instance, titanium dioxide is used as a DeNOx catalyst support in exhaust systems of automobiles, thus minimizing the environmental impact.
Asia-Pacific region dominated the global titanium dioxide market by occupying the majority of the market share owing to rapid demand in industrial sectors of China and India. China is the largest and the fastest growing market for most of the major producers in the titanium dioxide market. For instance, Chemours is the largest MNC supplier which operates a titanium dioxide facility in Kuan Yin, Taiwan. In 2017, the titanium dioxide market was valued at 2.43 billion in North America with majority of share coming from the paints & coatings segment. According to the U.S. Geological survey, US had the second largest titanium dioxide pigment production capacity after China.
The competitive landscape of global titanium dioxide market is highly fragmented with a large number of global and regional players including Henan Billions Chemicals Co., The Chemours Company, Huntsman International LLC, NL Industries, Inc., Tronox Limited and others. These prominent players have always looked forward to implement eminent strategies through partnerships, agreements, collaborations and business expansions. For instance, in October 2018, Hena Billions completed their merger with Lomon to become a fully integrated company in China with both chloride and sulphate process.
Titanium Dioxide Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||US$ 22.7 Bn|
|Growth Rate||CAGR of 3.7 % during 2022-2031|
|Segment Covered||by Application, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||The Chemours Company; The Tronox Holdings plc; LB Group; Venator Materials PLC; KRONOS Worldwide Inc.; ISHIHARA SANGYO KAISHA, LTD.; CNNC HUAN YUAN Titanium Dioxide Co., Ltd.; The Kerala Minerals & Metals Limited; Travancore Titanium Products Limited; CATHAY INDUSTRIES; TOR Minerals International, Inc.; Harol Scholz & Co. GmbH; CINKARNA Celje d.d.; Evonik Industries AG|
Key segments of the global titanium dioxide market
Manufacturing Process Overview, 2014-2025 (USD million) (Kilo tons)
Product Overview, 2014-2025 (USD million) (Kilo tons)
Applications Overview, 2014-2025 (USD million) (Kilo tons)
- Paints & coatings
Regional Overview, 2014-2025 (USD million) (Kilo tons)
- North America
- Asia Pacific
- Central & south America
- Middle-East & Africa
- The study assesses the dynamics and movement of the global titanium dioxide market across various geographies
- While studying the titanium dioxide market, we observed that the demand for its products was tremendous in developing countries
- The market is fragmented and major players have their presence across the globe. The companies, as a strategic step are opening new manufacturing facilities to meet the domestic demand.