San Francisco, 26 April 2024: The Report Titanium Dioxide Market Size, Share & Trends Analysis Report By Grade (Anatase, Rutile), By Production Process (Sulfate, Chloride), By Application, By Region, And Segment Forecasts, 2023 - 2030

The global titanium dioxide market size is expected to reach USD 30.62 billion by 2030, registering a CAGR of 6.3% according to a new report by Grand View Research, Inc. The expanding application scope of titanium dioxide (TiO2) as specialty coating materials in the automotive industry and photovoltaic systems is likely to fuel the growth of the market during the forecast period.

The paints and coatings industry has been witnessing significant growth in recent years, mainly on account of the increasing consumption in key end-use verticals, including construction, automotive, aerospace, and energy and power. The growing scope of the product as whitening pigments in paints and coatings is expected to have a positive impact on the future growth of the industry.

The growing awareness among consumers of emerging economies such as the BRICS nations regarding personal hygiene and care has led to the considerable growth of the cosmetics industry. The growing consumption of the product as a UV filter and whitening agent in cosmetic goods is expected to drive the overall industry during the forecast period.

The paints and coatings application segment is expected to expand at the highest revenue-based CAGR over the forecast period. The performance attributes of the paints, including weatherability, whiteness, and opacity, play a major role in the quality and effectiveness of paints & coatings.

The market is expected to witness significant growth owing to the excessive consumption of paints & coatings in various end-use industries including automotive, construction, and others. The market growth can be credited to the increasing demand for titanium dioxide (TiO2) from the end-user industries. Increasing demand from various end-use industries such as paints & coatings, textile, printing inks, plastics, and others are significantly driving the demand for pigments globally.

The usage of the product as pigments in paints and coatings formulation is expected to fuel the industry growth over the next few years. Developing countries have witnessed a growing demand for lightweight vehicles in the past few years. Furthermore, the automotive industry in developed regions including North America and Western Europe is exhibiting a promising trend owing to recovery from the financial downturn. Progressive growth in the automotive industry, especially in lightweight automobiles, has driven significant consumption of paints and coatings, which, in turn, is anticipated to propel the demand for TiO2.

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Growing construction industry is significantly fueling the demand for paints and coatings. Rising industrialization and urbanization in emerging economies such as U.S., China, India, and others, rising investment in infrastructure development, and growing housing sector are fueling the growth of construction industry, thereby creating demand for paints and coatings. The market in the U.S. was mainly driven by the paints and coatings sector in the recent past. The recovery of the construction industry in the U.S. has boosted the growth of the paints and coatings market, exhibiting rising demand for eco-friendly and anti-corrosive architectural coatings. As a result, the usage of the product as pigments in the formulation of advanced paints and coatings has increased over the past few years.

Titanium Dioxide Market Report Highlights

• The market is driven by the expanding application scope of the product in plastics, paints and coatings, and cosmetics industries
• The rutile grade segment led the market in terms of revenue in 2020 owing to its utilization as a carrier in paint applications, producing white color in plastics, and preventing fading of the color in papers. The rapidly growing construction industry is anticipated to fuel the demand for rutile grade of TiO2 during the forecast period
• The sulfate production process segment is expected to expand at the fastest revenue-based CAGR during the forecast period. The segment is driven by the growing demand for lightweight paints for the reduction of the overall weight of the vehicle from the automotive industry
• The Asia Pacific region accounted for the largest revenue share of more than 40.0% in 2020, which can be attributed to the rapid growth of the application industries, including paints and coatings, plastics, and cosmetics, in key economies of the region
• Strategic partnerships and acquisitions are among the prominent strategies adopted by the players operating in the market. For instance, in April 2023, Venator Materials PLC completed the acquisition of the European TiO2 paper laminates business from Tronox Holdings plc

Growing construction activities are positively influencing the demand of paints & coatings, thereby creating significant demand for titanium dioxide. The product is also used as a dispersing agent, flocculent, and whitening agent in the paints and coatings industry. In automotive coatings, the product is used as a dispersive agent with maximum gloss retention and high chalk resistance. The rapid growth of the automotive industry in China, India, and Japan is expected to augment the product demand over the forecast period.

Pigments are a group of compounds that are intensely colored and are utilized to impart color to other materials. Pigments are used to improve the appearance of a substrate. Coatings formulated using TiO2 have excellent compatibility with polycarbonate, a thermoplastic used as an alternate to glass- and metal-based materials. The rising demand for lightweight vehicles owing to the need for better fuel efficiency has resulted in an increased demand for polycarbonate in the automotive industry, thereby boosting product usage over the past few years.

Titanium Dioxide Market Report Scope

Nanoparticles of TiO2 are extensively utilized in Photovoltaic (PV) systems including dye-sensitized solar cells, quantum dot-sensitized solar cells, polymer-inorganic hybrid solar cells, inorganic solid-state solar cells, and perovskite solar cells. The product has a wide scope of application in coatings of PV cells as a photoactive material owing to its efficiency in improving the performance of dye-based cells. Focus on increasing the use of clean energy sources has also fueled the product demand in PV cells application.

List Of Key Players Of Titanium Dioxide Market

• The Chemours Company
• The Tronox Holdings plc
• LB Group
• Venator Materials PLC
• KRONOS Worldwide Inc.
• Evonik Industries AG
• ISHIHARA SANGYO KAISHA, LTD.
• CNNC HUAN YUAN Titanium Dioxide Co., Ltd.
• The Kerala Minerals & Metals Limited
• CATHAY INDUSTRIES
• TOR Minerals International, Inc.