Global Titanium Dioxide Market Size Likely to Grow at a CAGR of 6.57% By 2033

As per the current market research conducted by CMI Team, the global Titanium Dioxide Market size is expected to record a CAGR of 6.57% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 21.91 Billion. By 2033, the valuation is anticipated to reach USD 38.85 Billion.

Titanium Dioxide Market: Growth Factors and Dynamics

• Rising demand in Paints and Coatings: Paints and Coatings sector is one of the largest end users of titanium oxide due to its high opacity and whiteness. There has been a growing demand for high-quality coatings in residential, commercial, and industrial sectors owing to rapid urbanization and developmental activities. With these factors, as industries focused more on aesthetic appeal and product durability, reinforce titanium dioxide existent within the product structure, stimulated its market growth.

• Growth in the Plastics Industry: Recently there has been a rising trend of the usage of titanium dioxide in the plastics for enhancing the whiteness and UV stability along with durability of the plastic. As there has been a surge in the growth of the plastics industry owing to the rising demand for the various forms of packaging, automotive parts and goods among the consumer, titanium dioxide has become important in the enhancement of the plastic products. Sectors like food packaging and automotive parts expansion increases the consumption of TiO₂.

• Expansion of the Construction Industry: Construction industry is another the sector that heavily makes use of titanium dioxide due its wide application in paints, coatings and other industrial construction materials. With governments across the globe channelling funds towards infrastructure and housing schemes, there has arisen demand for high quality, effective and appealing coatings. Demand for TiO2 in this sector continues to be well sustained by the improvement in the performance and aesthetics of building materials owing to the characteristics of this compound.

• Rising usage in the Automotive Industry: Automotive sector consumes the most titanium dioxide in paints and coatings applied into vehicles, fulfilling sources for beauty and protection of vehicles. As more customers demand high gloss finishes especially for electric and hybrid cars, coatings that are tough and resistant to UV light have also been needed. In this growing market segment, TiO2 improves the quality and durability of vehicle paints and coatings, and thus it has become an integral part of this industry.

• Technical Advancements in Production Process: Advanced strategies in the production technologies of TiO₂ such as chloride process have enhanced the effectiveness of the processes while minimizing their pollutive aspects. This allows producers to make better quality TiO₂ at relatively lower prices hence making it widely used in more industries than before. It helps also the overall development of the TiO₂ market as it guarantees high grade products constantly for progression of this market is dependent on how production methods will regulate the quality of raw materials used.

• Growing consumer awareness of Sustainable Products: The growing concern of consumers about environmental issues has also created a demand for environmental products. As a result, TiO₂ producers are also working on the development of more eco-friendly production technologies and eco-friendly products especially for the cosmetics and paint industries. This transition in approach supports the tendencies of the consumers, hence increasing the possible target market for TiO₂.

• Expanding Applications in Nanotechnology: The study of the technological advances of titanium dioxide is opening up new ways for the growth of the market. Nanostructured TiO₂ has properties, which can enable its utilization in areas like photocatalysis, energy storage, and advanced coating. As the technology in nanotechnology improves and scientists develop new devices and processes involving nanotechnology, it is anticipated that the use of TiO₂ for these new uses will grow hence expanding the market growth in the coming years.

• Increase in Global Population and Urbanization: The growing population and urbanization is expected to boost the demand for goods used in housing, and other related infrastructure. Such tendency is expected to rise the demand for quality products among various sectors such as paints and coatings, plastic internal linings, wall and ceilings. However, with cities and towns growing and more housing and commercial buildings under construction, there will be a continued increase in the consumption of TiO₂ for such applications, hence favoring the growth of the market.

Titanium Dioxide Market: Partnership and Acquisitions

• In 2023, Chemours has announced to close its Titanium Dioxide plant in the Taiwan. It was done as a part of the strategy to raise the profitability of the Chemours Titanium technologies segment which manufactures the well-known Ti-Pure brand of Titanium dioxide.

• In 2021, In September 2021, LB Group showcased its selection of high-quality titanium dioxide pigments for coatings and inks at the Middle East Coatings Show in Dubai. Given that the construction sector in the Middle East is recognized for its architectural designs, the BILLION BLR-995 pigment is anticipated to see a rise in demand in architectural coatings.

Report Scope

Titanium Dioxide Market: COVID-19 Analysis

The COVID-19 outbreak, contrary to what one might expect, enhanced market for Titanium Dioxide (TiO₂) owing to the greater focus on hygiene, sanitization and protective coatings. While the world was dealing with the virus, paints and coatings with anti-microbial properties became a necessity in a number of situations, healthcare environments, public areas and households to name a few.

This was due to the fact that TiO₂ has photodegradation properties which can breakdown organic pollutants and bacteria when light is shone on it. Afterward, the rise of e-commerce and home improvement activities during the lockdown period increased the paints and coatings market, thereby increasing the demand for TiO₂.

As well, eco-friendliness was considered by them due to the changing market and thus, provisions were made for the development of healthier coatings that contained TiO₂. During and post COVID-19 period, the trends went in favour of the industries and thus, the titanium dioxide market was all these years tipped demonstrating its need and applicability even in the new normal.

List of the prominent players in the Titanium Dioxide Market:

• TOR Minerals International Inc.
• CATHAY INDUSTRIES
• The Kerala Minerals & Metals Limited
• CNNC HUAN YUAN Titanium Dioxide Co. Ltd.
• Ishihara Sangyo Kaisha Ltd.
• Evonik Industries AG
• KRONOS Worldwide Inc.
• Venator Materials PLC
• LB Group
• The Tronox Holdings plc
• The Chemours Company
• Others

The Titanium Dioxide Market is segmented as follows:

By Grade

• Rutile
• Anatase

By Carrier Production Process

• Chloride
• Sulfate

By Application

• Cosmetics
• Paper and Pulp
• Inks
• Plastics
• Paints & Coatings

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America