During the forecast period 2022-2032, the market for titanium dioxide is expected to grow at a rate of more than 5.35%, reaching US$ 32 Billion in value, concludes a recently published Fact.MR report. As of 2022, the market is expected to be valued at US$ 19 Billion. Due to its high refractive index and light-phobic qualities, titanium dioxide has recently emerged as an efficient coating pigment.
From 2015 to 2021, sales of titanium dioxide expanded at a CAGR of 4%, closing in at a valuation of US$ 18 Billion. Rising infrastructure development activities, together with expanding commercial and residential building, are driving up demand for paints and coatings, accelerating the total titanium dioxide market’s growth throughout the forecast period.
Significant usage in automobiles will drive sales in the near future. Furthermore, the growing popularity of flexible plastic manufacturing in the packaging industry will propel the market into a successful future. The increasing trend toward hydrometallurgical manufacturing opens up new prospects for titanium dioxide manufacturers looking to increase their profit margins.
Key Takeaways from the Market Study
- Global titanium dioxide market demand to expand 1.7x from 2022-2032
- By grade, rutile-based titanium dioxide demand to flourish at a 4% value CAGR
- Over 60% of titanium dioxide sales to flourish across the paints & coatings industry
- S to emerge as an opportunistic market, growing at a 5% value CAGR until 2032
- China, Japan & South Korea to expand at growth rates of 5.7%, 5.5% & 5.6% respectively
- K to post significant gains, growing at a 4% value CAGR
“Titanium dioxide manufacturers prolong to pay close attention to advancements in finishing technologies. In the near future, rising demand for anti-corrosion coatings in the construction and automotive industries is anticipated to gain traction for titanium dioxide,” says a Fact.MR analyst
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Competitive Landscape
The market for titanium dioxide is consolidated to a great extent. Chemours, Cristal, Huntsman, Kronos, Lomon-Billions, and Tronox are the market leaders. These market frontrunners account for more than 60% of the market. Companies are now collaborating with customers to develop enduring pricing based on total company value. In addition, prominent firms are working to improve the manufacturing circuit through capacity growth in order to meet consumer demand. Every year, capacity additions of 200,000 to 300,000 Tons are expected in the market.
- LB Group announced a CNY 1 billion (USD 157.6 million) investment at the Xiangyang location in January 2022 to build a new 200ktpa titanium dioxide (TiO2) pigment finishing facility. Two TiO2 pigment finishing lines will be constructed, each capable of processing 100ktpa TiO2 pigment intermediate product.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global titanium dioxide presenting historical demand data (2015-2021) and forecast statistics for the period of 2022-2032.
The study indulges essential insights on the market on the basis of grade (anatase and rutile) and application (paints & coatings, plastic, pulp & paper, cosmetics and others) across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa).
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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