Global Titanium Dioxide Market Report and Forecast 2024-2032

Global Titanium Dioxide Market Outlook

The global titanium dioxide market size attained a volume of around 5.07 MMT in 2023. The market is estimated to grow at a CAGR of 3% during the forecast period of 2024-2032 to reach a volume of 6.60 MMT by 2032.

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The titanium dioxide industry is growing as a result of the increasing demand for titanium dioxide (TiO2) from end-user industries. In recent years, developing countries have seen an increase in the demand for lightweight cars. The automotive industry is displaying a positive trend in developed regions like North America and Western Europe leading to a surge in demand for titanium dioxide.

As per the titanium dioxide market report, the automotive industry's sustained growth, particularly with regard to lightweight vehicles, is anticipated to enhance demand for titanium dioxide. The growing use of paints and coatings has significantly contributed to this trend as polycarbonate is very compatible with coatings created with TiO2. Due to the rise in the demand for lightweight cars with improved fuel efficiency over the past few years, which has also boosted product consumption, the automotive industry has experienced rising demand, contributing to the titanium dioxide global market.

Titanium dioxide (TiO2) is a commonly used pigment throughout the cosmetics market since it offers a high colour context, higher intensity and brightness, helps absorb oils released from the skin, and protects the skin from ultraviolet rays. Additionally, titanium dioxide is widely used in pigments that find application in diverse products like paints, paper, plastics, and printing inks, among others, further influencing the titanium dioxide market price.

Titanium Dioxide Market Segmentation

Titanium dioxide, a white inorganic compound, is generally derived from minerals like ilmenite, rutile, and anatase. Due to its luminous, non-toxic, and non-reactive properties, it finds application in a wide range of products, particularly as a vivid colourant to increase the whiteness and brightness of various substances.

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Based on applications, the market is divided into:

• Paints and Coating

• Plastics

• Papers

• Others

According to the titanium dioxide industry analysis, paints and coatings remains the largest application sector for titanium dioxide, while its demand in the plastics market is increasing steadily due to the excellent refractive qualities of titanium dioxide.

The EMR report also analyses the regional markets for the product, which are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Titanium Dioxide Market Analysis

The robust growth of the paints and coatings sector, especially in the emerging economies, is one of the key titanium dioxide market trends. Further, the properties of the substance make it a favourable choice for use as a pigment, which aids the market growth. It is also known as ‘the perfect white’ owing to its powerful, whitening qualities, making it a popular choice for use as a pigment. The increasing urbanisation and rise in per capita income, particularly in the developing economies, is aiding the global titanium dioxide market. This directly impacts the automobile and construction sectors, which, in turn, will drive the demand for titanium dioxide further. Rising disposable incomes is resulting in an increase in infrastructure activities, which is further adding to the higher demand for the paints and coatings variants, which is the largest application sector for titanium dioxide, thus, increasing the titanium dioxide market share.

Moreover, the increased demand for titanium dioxide from the plastic and packaging industry is providing further impetus to the titanium dioxide TiO2 market. The refractive properties of titanium dioxide allow it to absorb or scatter UV rays, thus, making it favourable for use in Masterbatches, flexible packaging, and food-grade packaging, thus, aiding the market growth.

Regional Analysis

The Asia Pacific is a leading region in the global titanium dioxide market, with the other significant markets comprising of Europe and North America. The North America titanium dioxide market is emerging as a significant regional market due to the increase in automotive and other applications of titanium dioxide. While North America is the net exporter of titanium dioxide it also imports a significant volume of low-quality titanium dioxide from the Asia Pacific. The Europe titanium dioxide market has been witnessing steady growth over the years, and also exports high quality titanium dioxide to the Asia Pacific to fulfil the emerging region’s increasing demands. Another key exporter to the Asia Pacific, particularly countries such as India and China, is Australia, offering immense opportunities to the Australia titanium dioxide market.

Competitive Landscape

The EMR report provides a detailed analysis of the following major players in the global titanium dioxide market, covering their competitive landscape, capacity, and recent developments like mergers, acquisitions and investments, expansions of capacity, and plant turnarounds:

• The Chemours Company LLC

• Venator Materials PLC

• KRONOS Worldwide, Inc.

• Tronox Holdings PLC

• LB Group Co Ltd

• Shandong Doguide Group Co., Ltd

• Nanjing Titanium Dioxide Chemical Co., Ltd.

• Ningbo Xinfu Titanium Dioxide Co., Ltd

• PRECHEZA a.s.

• TAYCA Co., Ltd.

• Cinkarna Celje d.d.

• Others

The report provides a further assessment of the titanium dioxide market by carrying out SWOT and Porter’s five forces analysis.

Key Highlights of the Report