Information & Communications Technology
Financial Services and Investment Intelligence
Titanium Dioxide Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Titanium Dioxide Market is segmented by Grade (Rutile and Anatase), Application (Paints and Coatings, Plastics, Paper and Pulp, Cosmetics, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Titanium dioxide market in Volume (kilo tons) for the above-mentioned segments.
Titanium Dioxide Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - ...
Need a report that reflects how COVID-19 has impacted this market and its growth?
The titanium dioxide market was estimated at over 6 million tons in 2021, and the market is projected to register a CAGR of greater than 6% during the forecast period (2022-2027).
The market was negatively impacted due to COVID-19 in 2020. Owing to the pandemic scenario, the manufacturing activities and construction work were halted due to supply chain disruptions and labor shortages, thus affected the demand from various applications such as paints and coatings, plastics, cosmetics, and others. For instance, Loreal, the largest cosmetics company globally, registered a loss of EUR 1,735 million (USD 2024.52 million) during the first half of 2020, compared to the same period in 2019. However, the condition is expected to recover in early forecast period.
Over the short term, rapidly increasing demand from the paints and coatings industry is the major factor driving the growth of the market studied.
On the flip side, the toxicity of titanium dioxide is expected to hamper the growth of the market.
Paints and coating applications dominated the market, and they are likely to grow during the forecast period with the continuous growth in construction activities.
The Asia-Pacific region dominated the market across the world, and it is also expected to register the highest growth rate during the forecast period due to increasing consumption from countries such as China and India.
Titanium dioxide is one of the whitest material on the earth. It is used extensively as a white pigment to add whiteness and opacity in various applications such as paints and coatings, cosmetics, food, and others. The titanium dioxide market is segmented by grade, application and geography. By grade, market is segmented into rutile and anatase. By application, the market is segmented into paints and coatings, plastics, paper and pulp, cosmetics, and other applications. The report also offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of volume (kiloton).
Report scope can be customized per your requirements. Click here.
Paints and Coatings Segment to Dominate the Market Demand
Titanium dioxide is the most widely used white pigment material in the paints and coatings industry. It efficiently scatters visible light and thereby imparts whiteness, brightness, and opacity when incorporated into a coating, which makes it widely used in the paints and coatings industry.
The paints and coatings industry is experiencing a boom with the rapid growth of the building and construction and automotive end-user industries.
Various expansions in the paints and coatings industry will augment the titanium dioxide markets in the coming years. For reference, in May 2021, PPG Industries, Inc. has invested USD 13 million in the expansion of paints and coatings unit in China, which includes eight new powder coating production lines and an expanded powder coatings technology center. This expansion will increase the capacity by more than 8,000 metric tons per year.
Furthermore, in the automotive sector, paints and coatings are used in the interior and exterior parts of the vehicle, as they impart protection and appeal to vehicles. They are used in metallic parts, as well as plastic vehicle components of automobiles.
According to the OICA data, global automotive production increased by around 10% and reached 57.26 million units in first nine months of 2021 as compared to 52.15 million units in the same period in 2020. The car sales increased by around 29% in first half od 2021 compared to 2020, reaching 44.40 million units, hence driving the market studied in the forecast period.
Hence, all such trends in industries, such as construction and automotive, have been increasing the demand for paints and coatings, which is expected to add to the demand in the titanium dioxide market.
To understand key trends, Download Sample Report
Asia-Pacific Region to Dominate the Market
The Asia-Pacific region dominated the global market. With the rising production in industries, such as cosmetics, paints, and coatings, and plastics, the consumption of titanium dioxide is projected to increase noticeably during the forecast period.
China is one of the worlds largest producer and consumer of titanium dioxide products. Furthermore the demand of TiO2 for paints and coatings is likely to increase from construction industry. According to the National Bureau of Statistics of China, in 2020, the construction industry in China generated an added value of approximately CNY 7.3 trillion.
Furtehrmore, in November 2021, Asian Paints has announced plans to invest USD 127 million in Gujarat plant, India, in the expansion of paints manufacturing capacity from 130,000 kilo liters to 250,000 kilo tons in the next two to three years.
In addition, the plastic industry is also expected to grow in countries like China and India. The Chinese plastic industry is growing at a high rate due to the availability of cheaper raw materials and massive demand from developing economies.
According to National Bureau of Statistics of China, about 7.95 million metric tons of plastic products were produced in December 2021, compared with 7.32 million metric tons in November 2021.
According to The Plastics Export Promotion Council (PLEXCONCIL), Indias plastics export increased by a 55% to USD 3,417 million (cumulative value) in April-to-June 2021 as compared to USD 2,211 million in April-June 2020.
The Asia-Pacific region is also witnessing strong growth in the demand for cosmetic products, leading to the increased usage by teenagers and increased hygiene awareness, thus augment the market studied.
Hence, such trends are likely to drive the demand for titanium dioxide in the region during the forecast period.
To understand geography trends, Download Sample Report
The titanium dioxide market is a consolidated market, where a few major players hold a significant share of the market demand. Some of the major players(not in any particular order) in the market include The Chemours Company, Tronox Holdings PLC, Venator Materials PLC, KRONOS Worldwide Inc., and LB Group, among others.
In January 2022, LB Group has announced the investment of 1 billion RMB (USD 157.6 million) at Xiangyang site in the construction of a new 200ktpa titanium dioxide (TiO
pigment finishing lines will be built, each with the ability to process 100ktpa TiO
In July 2021, Venator Materials PLC (Venator) announced global price increases for all its titanium dioxide pigments for coatings, plastics, inks and paper applications.For EMEA, Asia-Pacific and Latin America the proce increase is USD 200/tons whereas in North America it is USD 0.08/lb. The increases are effective from July 1, 2021.
4.1.1 Rapidly Increasing Demand for Paints and Coatings
4.2.1 Toxicity and Stringent Environmental Policies of Titanium Dioxide
4.4.4 Threat of Substitute Products and Services
5.2.5 Other Applications(leather, textiles)
22.214.171.124 Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increased Use Of Ultrafine Particles of Titanium Dioxide in Cosmetics And Construction Industries
The Titanium Dioxide Market market is studied from 2017 - 2027.
The Titanium Dioxide Market is growing at a CAGR of 6% over the next 5 years.
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Asia Pacific holds highest share in 2021.
The Chemours Company, Tronox Holdings plc, Venator Materials PLC, KRONOS Worldwide, Inc., LB Group are the major companies operating in Titanium Dioxide Market.
Titanium Alloy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Titanium Dioxide Nanomaterials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
of our clients seek made-to-order reports. How do you want us to tailor yours?
Nanakramguda Rd, Financial District, Gachibowli
We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination.
© 2022. All Rights Reserved to Mordor Intelligence.
Thank you for your Purchase. Your payment is successful. The Report will be delivered with in 24-72 hours. Our sales representative will reach you shortly with the details.
Sorry! Payment Failed. Please check with your bank for further details.