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

As per the current market research conducted by the 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 titanium oxide’s most significant end users 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, reinforcing titanium dioxide existence within the product structure stimulated its market growth.

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

• Expansion of the Construction Industry: The construction industry is another sector that heavily uses titanium dioxide due to its wide application in paints, coatings, and other industrial construction materials. With governments across the globe channelling funds towards infrastructure and housing schemes, a demand for high-quality, practical and appealing coatings has arisen. 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: The automotive sector consumes the most titanium dioxide in paints and coatings applied to vehicles, fulfilling sources for beauty and protection. 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 the 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, making it widely used in more industries than before. It also helps the overall development of the TiO₂ market as it guarantees high-grade products constantly, for the progression of this market depends on how production methods will regulate the quality of raw materials used.

• Growing consumer awareness of Sustainable Products: Consumers’ increasing concern about environmental issues has also created a demand for ecological products. As a result, TiO₂ producers are also developing more eco-friendly production technologies and products primarily 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 market growth. Nanostructured TiO₂ has properties that 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 are expected to boost the demand for goods used in housing and other related infrastructure. Such a tendency is expected to raise the demand for quality products in various sectors, such as paints and coatings, plastic internal linings, walls, 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 market growth.

Titanium Dioxide Market: Partnership and Acquisitions

• In 2023, Chemours announced the closing of its Titanium Dioxide plant in 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.

• 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 the 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 several situations, such as healthcare environments, public areas, and households, to name a few.

This was because TiO₂ has photodegradation properties, which can break down organic pollutants and bacteria when light is shone on it. Afterwards, e-commerce and home improvement activities during the lockdown period increased the paints and coatings market, increasing the demand for TiO₂.

They also considered eco-friendliness due to the changing market, and thus, provisions were made to develop healthier coatings containing TiO₂. During and post-COVID-19 period, the trends went in favor of the industries. Therefore, the titanium dioxide market has demonstrated its need and applicability throughout the years, 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