Titanium Dioxide (TiO2) Market Size, Share & Trends Analysis Report By Grade (Anatase, Rutile), By Production Process (Sulfate, Chloride), By Application (Paints & Coatings, Plastics, Paper & Pulp, Cosmetics, Others), By Region, And Segment Forecasts, 2024 - 2032
- Published Date:Jan-2024
- Pages: 117
- Format: PDF
- Report ID: PM3261
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global titanium dioxide (TiO2) market was valued at USD 20.84 billion in 2023 and is expected to grow at a CAGR of 5.80% during the forecast period. The rising demand for Titanium Dioxide (TiO2) dioxide (TiO2) from the end-user sectors is to blame for the market expansion. Over the coming years, the industry's development is anticipated to be fueled by the use of the product as pigments in the formulation of paints and coatings. Over the past few years, the demand for light cars has increased in developing nations. Due to the recovery from the financial downturn, the automotive industry is also showing a positive trend in developed areas like North America and Western Europe. The demand for TiO2 is expected to increase as a result of the automotive industry's steady growth, particularly with regard to lightweight vehicles. This growth has been fueled in large part by the substantial consumption of paints and coatings.
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The paints and coatings industry has recently been a major driver of the titanium dioxide (TiO2) market in the United States. The U.S. building sector's recovery has fueled the market for paints and coatings, demonstrating a rise in demand for environmentally friendly and anti-corrosive architectural coatings. Therefore, over the past few years, the product has seen an increase in its use as pigments in the creation of advanced paints and coatings.
In the paints and coatings business, the product is also utilised as a flocculent, whitening agent, and dispersing agent. The product is a dispersive agent with high chalk resistance and maximal gloss retention that is used in car coatings. Over the forecast period, it is anticipated that the fast-expanding car industries in China, India, and Japan will boost product demand.
TiO2-based coatings are extremely compatible with polycarbonate, a polymer that is frequently used as an alternative to glass and metal-based products. The automotive industry has seen an increase in demand for polycarbonate as a result of the increasing demand for lightweight vehicles due to the need for greater fuel efficiency, which has led to an increase in product usage over the past few years.
TiO2 nanoparticles are widely used in photovoltaic (PV) devices, including perovskite solar cells, dye-sensitized solar cells, quantum dot-sensitized solar cells, and polymer-inorganic hybrid solar cells. Due to its effectiveness in enhancing the performance of dye-based cells, the substance has a broad range of applications in coatings for PV cells as a photoactive material. The demand for products used in PV cell applications has also been driven by the focus on expanding the use of clean energy sources.
The Titanium Dioxide (TiO2) Market report details key market dynamics to help industry players align their business strategies with current and future trends. It examines technological advances and breakthroughs in the industry and their impact on the market presence. Furthermore, a detailed regional analysis of the industry at the local, national, and global levels has been provided.
2020 saw a decline in the paints and coatings industry as a result of the COVID-19 pandemic. Due to the closing of showrooms and the worldwide economic crises, the automotive industry has been among the worst affected. Additionally, consumers are confined to their residences. The economic downturn has reduced consumer and business desire for automobiles. Pre-orders are being cancelled by customers. The global building and construction sector has also been affected by COVID-19, with projects experiencing funding constraints, supply chain problems, and labour shortages. Commercial builders must endure higher material costs and slower project completion due to the limited availability of raw materials. The paints and coatings industries are negatively impacted by all of these variables.
The most detrimental and immediate effects of COVID-19 have been felt by the global aerospace sector. The lockdown at both international and local borders has had the worst effects on the airline industry. This has significantly slowed down demand for new aircraft and decreased passenger traffic. The demand for ceramic matrix composites in the aerospace industry is expected to decline as a result of the global pandemic, according to industry experts, as OEMs will focus more on technological innovation to offset the effect of declining orders through 2020–21. The market has been adversely affected by the decline in demand from aircraft engine manufacturers, the amount of aircraft orders, and supply chain disruption.
Applications involving paints and varnishes frequently use Titanium Dioxide (TiO2) dioxide. Numerous end-use uses, such as automotive coatings, aircraft coatings, marine coatings, and architectural & decorative coatings, use Titanium Dioxide (TiO2) dioxide in combination with other coloured pigments. The demand for paints and coatings is favourably impacted by expanding construction activities, which significantly increases the demand for titanium dioxide (TiO2) market.
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Report Segmentation
The market is primarily segmented based on Grade, production type, end-use, and region.
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By Grade |
By Production |
By End-Use |
By Region |
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The rutile segments are witnessed to dominate the market during projected timeframe
The rutile market sector will dominate with a major revenue share. Throughout the forecast time, it is anticipated that this trend will persist. In paint uses, rutile grade TiO2 is used as a carrier to create white color in plastics and stop color fading in paper. During the forecast period, it is expected that the expanding construction sector will drive up demand for rutile grade TiO2.
The sulphate segment will account for a higher share of the market during forecast period
The market was led by the sulphate production process segment, which accounted for major worldwide revenue. From 2023 to 2032, the sector is anticipated to grow at the fastest CAGR. The Titanium Dioxide (TiO2) dioxide is made using a method called sulfation that is excellent for making paints and coatings. The demand for lightweight paints has increased due to the expanding automotive sector, which has also increased demand for sulphate-based TiO2.
Paint and coatings sector is expected to hold the significant revenue share
The paints and coatings sector held the market's top spot, accounting for major global revenue. From 2023 to 2032, the segment is anticipated to expand at the fastest rate. Over the past few years, significant growth in the automotive and construction industries, especially in developing nations, has driven up product demand in the paints and coatings sector.
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Asia Pacific is expected to witness significant growth during forthcoming years
The Titanium Dioxide (TiO2) dioxide market was led by the Asia Pacific region. The increasing construction activities in China, India, and other Southeast Asian nations are to blame for the region's high demand for paints and coatings, which is anticipated to further boost product demand growth.
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Competitive Insight
Some of the major players operating in the global titanium dioxide (TiO2) market include The Chemours Company; The Tronox Holdings plc; LB Group; Venator Materials PLC; KRONOS Worldwide Inc.; ISHIHARA SANGYO KAISHA, LTD.; CNNC HUAN YUAN Titanium Dioxide (TiO2) Dioxide Co., Ltd.; The Kerala Minerals & Metals Limited; Travancore Titanium Dioxide (TiO2) Products Limited; CATHAY INDUSTRIES; TOR Minerals International, Inc.;
Recent Developments
- As part of the "Strategic Innovation Program for Energy Conservation Technologies" run by the New Energy and Industrial Technology Development Organization, Toho's development of a new, low-cost, low-energy-consumption Titanium Dioxide (TiO2) manufacturing technology entered the demonstration development phase in July 2021. (NEDO).
- Huntsman Corporation sold SK Capital nearly 40% (42.4 million shares) of Venator's existing shares in December 2020, with the right to buy the remaining 9.7 million shares in the following 30 months.
Titanium Dioxide (TiO2) Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 21.79 billion |
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Revenue forecast in 2032 |
USD 34.47 billion |
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CAGR |
5.80% from 2024 - 2032 |
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Base year |
2023 |
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Historical data |
2019- 2022 |
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Forecast period |
2024 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Grade, By Production Type, By End-use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
The Chemours Company; The Tronox Holdings plc; LB Group; Venator Materials PLC; KRONOS Worldwide Inc.; ISHIHARA SANGYO KAISHA, LTD.; CNNC HUAN YUAN Titanium Dioxide (TiO2) Dioxide Co., Ltd.; The Kerala Minerals & Metals Limited; Travancore Titanium Dioxide (TiO2) Products Limited; CATHAY INDUSTRIES; TOR Minerals International, Inc.; |
Delve into the intricacies of Titanium Dioxide (TiO2) Market in 2024 through the meticulously compiled market share, size, and revenue growth rate statistics by Polaris Market Research Industry Reports. Uncover a comprehensive analysis that not only projects market trends up to 2032 but also provides valuable insights into the historical landscape. Immerse yourself in the depth of this industry analysis by acquiring a complimentary PDF download of the sample report.
FAQ's
The titanium dioxide (TiO2) market report covering key segments are grade, production type, end-use, and region.
Titanium Dioxide (TiO2) Market Size Worth $34.47 Billion by 2032.
The global titanium dioxide (TiO2) market expected to grow at a CAGR of 5.75% during the forecast period.
Asia Pacific is leading the global market.
key driving factors in titanium dioxide (TiO2) market are rising demand from paints & coatings application.
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