Titanium Dioxide Market

Titanium Dioxide Market Outlook (2022-2032)

The global market for titanium dioxide is forecasted to be surge up at a significant pace with a CAGR of 5.35% throughout the forecast period (2022-2032).

As of 2022, the market is slated to be valued at US$ 19 Billion, up from US$ 18 Billion in 2021, representing an annual increase worth 5.5%. By 2032, the industry is poised to reach US$ 32 Billion.

Report Attributes	Details
Anticipated Base Year Value (2021)	US$ 18 Billion
Expected Market Value (2022)	US$ 19 Billion
Projected Forecast Value (2032)	US$ 32 Billion
Global Growth Rate (2022-2032)	5.35% CAGR
Growth Rate of the U.S (2022-2032)	5% CAGR
Expected Market Value of China (2032)	US$ 12 Billion
Dollar Opportunity in Japan (2022-2032)	US$ 10 Billion
Key Service Providers	Chemours Cristal Huntsman Kronos Lomon-Billions Tronox

Manufacturing and construction activities were delayed during the pandemic due to supply chain interruptions and manpower shortages, affecting demand from numerous application industries as  paints and coatings, plastics, cosmetics, and others. For example, L'Oréal, the world's largest cosmetics firm, lost EUR 1,735 million (US$ 2,024.52 million) in the first half of 2020 compared to the same period in 2019.

However, the situation is likely to improve within the predicted period. In the short term, rapidly rising demand from the paints and coatings industry is expected to be the primary driver of market growth. On the other hand, the toxicity of titanium dioxide is projected to stifle market expansion.

The market was dominated by the paints and coatings application category. With the ongoing expansion of construction activity, the category is expected to rise during the projection period. The Asia-Pacific region dominated the global market. It is also predicted to rise at the fastest rate during the projection period, owing to increased demand in China and India.

Titanium Dioxide Market Revenue Analysis 2015-2021 vs. Future Outlook 2022-2032

The global market for titanium dioxide is expected to develop at a significant pace throughout the forecast period from 2022 to 2032, reaching a value pool of US$ 32 Billion by the end of the forecast period.

The global titanium dioxide market is expected to develop significantly due to increasing titanium dioxide concentrations in paints and coatings, rising need for lightweight automotive vehicles, and rising demand from the cosmetics industry.

The ongoing transition to hydrometallurgical production creates new opportunities for titanium dioxide manufacturers who hope to gain an attractive profit margin in the near future.  

Due to rigorous regulations, rising demand for lightweight automobiles is expected to drive market expansion in the future years. As a result, the rising usage of lightweight materials for improved overall performance and fuel efficiency is likely to boost the titanium dioxide market in the near future. The expanding number of residential and non-residential construction projects increases demand for paints and coatings, increasing titanium dioxide usage.

During the predicted term, the overall business picture appears to be brighter. The global titanium dioxide market is expected to provide profitable income streams in the face of increased construction activity, investment, and household expenditure, as well as increased demand for paint, plastics, and ornamental laminates. The worldwide titanium dioxide market was worth US$ 18 Billion in 2021 and is predicted to increase at a CAGR of 5.35% between 2022 and 2032.

Prominent Titanium Dioxide Industry Growth Drivers

Titanium Dioxide Adoption is Growing in a Variety of End-Use Industries

The fast spread of corona virus has harmed the titanium dioxide market. Many businesses and sectors have temporarily ceased operations as a result of the protracted lockdown and fast spreading corona virus around the world. There has been a significant influence on the industrial sector, touching practically all industries worldwide. Manufacturers in the titanium dioxide market are working hard to recover from the pandemic's losses.

The rising demand for titanium dioxide from diverse end-use sectors such as paints and coatings, paper, and plastics, among others, is offering value-added possibilities for producers. Titanium dioxide is a colorless, odorless absorbent. It is commonly used as a pigment to provide whiteness and opacity. It's also employed as a bleaching agent in porcelain enamels since it's brilliant, durable, and acid-resistant. Despite the corona virus pandemic, the significant presence of manufacturers operating in the global titanium dioxide market is driving to the market.

Furthermore, surge in the demand for lightweight vehicles in the automobile industry is a critical factor escalating market growth, as is rise in the per capita consumption of pigments, rise in the usage of titanium dioxide in construction, rise in the usage of titanium dioxide by its end-users, rise in the paints & coatings industry worldwide, and rise in self-cleaning technologies in various industries, among other factors driving the titanium dioxide market.

Moreover, the increase in modernization and technical developments in manufacturing processes, as well as the increase in market research and development efforts, will generate new possibilities for the titanium dioxide market throughout the projection period.

Key Challenges Prevalent in the Global Titanium Dioxide Market

Expensive Cost as well as Hazardous Nature may Impede Growth Prospects

Volatility in raw material costs and severe environmental laws owing to its hazardous nature are the primary factors acting as barriers, which will further challenge the growth of the titanium dioxide market during the forecast period.

Country-wise Analysis

What is the Growth Outlook for Titanium Dioxide in the U.S?

U.S. Market is expected to be Lucrative Owing to Increasing Use of titanium dioxide by its end-users in North America

North America is the projected region for growth in the titanium dioxide market, expected to register a 5% CAGR until 2032. Increase in the use of titanium dioxide in buildings, and an increase in the use of titanium dioxide by its end-users in this region. In recent years, the paints and coatings industry has been the primary driver of the market in the United States.

Moreover, the revival of the building sector in the United States has encouraged the growth of the paints and coatings market, with increased demand for environmentally friendly and anti-corrosive architectural coatings. As a result, the product's use as a pigment in the composition of innovative paints and coatings has risen in recent years.

How do Growth Prospects appear in the Chinese Market?

Product demand in China has been fueled by recent economic improvements and rapid industrialization.

Asia Pacific had the highest revenue share of more than 40.0% in 2022 and would grow at the quickest CAGR from 2022 to 2032. Rising construction activity in China, India, and Southeast Asian countries has fueled regional demand for paints and coatings, which is likely to drive product demand. Furthermore, the region's increased need for lightweight automobiles is fueling product demand in automotive coatings applications.

Recent economic advancements and fast industrialization have driven the product demand in Asia Pacific. China is expected to contribute significantly to regional growth.  In the paints and coatings sector, the substance is also utilized as a dispersion agent, flocculent, and whitening agent.

The chemical is utilized in automobile coatings as a dispersive agent with optimum gloss retention and good chalk resistance. Over the projection period, the fast expansion of the automotive sector in China is predicted to boost product demand.

Is Germany likely to emerge as an Opportunistic Titanium Dioxide Industry?

Germany is Gaining Traction from the Paint & Coatings Industry

Due to increasing product demand from the paints & coatings and cosmetic industries, Europe represented the second-largest revenue share in 2020. Since, Germany is an important vehicle producer, resulting in significant product demand in the paints and coatings industry which is further expected to gain traction for titanium oxide market. Hence, the market is expected to surge up at a substantial pace during the

Country-wise Forecast CAGRs in the Titanium Dioxide Market

Country	CAGR
U.S	5%
U.K	4%
China	5.7%
Japan	5.5%
South Korea	5.6%

Category-wise Insights

Why is Demand for Application Integration Rising Rapidly?

Paints and coatings will proliferate, and infrastructure construction spending will serve as a growth driver.

In 2022, the paints and coatings segment is likely to dominate the titanium dioxide business, accounting for more than 60% of total market share. The paints and coatings industry is anticipated to consume 3.5 million tonnes of titanium dioxide. Titanium dioxide is widely utilized in automobile paints due to its long-lasting and transparent properties.  

Because of its high refractive index, it is good for vehicle pigments. Rising infrastructure spending in developing nations is driving demand for coatings, which is projected to attract significant capital to the titanium dioxide market. Increased product use as a whitening component in the redecorating and refurbishment sectors is also predicted to help to the expansion of the titanium dioxide market over the next decade.

Competitive Landscape

The global titanium dioxide market is highly concentrated, with a few important competitors controlling a sizable market share. Several rivals are focusing on regional expansion through a variety of business strategies. Many rivals, for example, are uncovering new titanium dioxide deposits through mergers and joint ventures, as well as collaborations with exploration and mining businesses.

The availability of titanium dioxide was adequate in the previous quarter, and industry users had no difficulty meeting titanium dioxide demand. Late in the year, producers aggressively pushed to off-load titanium dioxide shipments ahead of the calendar year's end in an effort to liquidate outstanding stocks. As a result, a considerable expansion in international chemical trade will have a beneficial impact on market growth.

Key Segments Covered in the Titanium Dioxide Industry Report

• By Grade

  • Anatase-grade
  • Rutile-grade

•  By Application

  • Paints & Coatings
  • Plastic
  • Pulp & Paper
  • Cosmetics
  • Other Applications

•  By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa