Titanium Dioxide Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Titanium Dioxide Industry Manufacturers and is segmented by Grade (Rutile and Anatase), Application (Paints and Coatings, Plastics, Paper and Pulp, Cosmetics, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for the titanium dioxide market in volume (kilo tons) for the above-mentioned segments.

Titanium Dioxide Market Size

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Titanium Dioxide Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Titanium Dioxide Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Titanium Dioxide Market Analysis

The titanium dioxide market is estimated to reach over 6 million tons by the end of this year. The market is projected to register a CAGR of more than 4% during the forecast period.

The market was negatively impacted due to COVID-19 in 2020. The manufacturing activities and construction work were halted due to supply chain disruptions and labor shortages during the pandemic, thus affecting the demand from various application sectors, such as paints and coatings, plastics, cosmetics, and others. For instance, L'Oréal, the largest cosmetics company globally, registered a loss of EUR 1,735 million (USD 2,024.52 million) during the first half of 2020 compared to the same period in 2019. However, the condition recovered in 2022, restoring the market's growth trajectory.

  • Over the short term, rapidly increasing demand from the paints and coatings industry will likely be the major factor driving the market's growth.
  • On the flip side, the toxicity of titanium dioxide is expected to hamper the market's growth.
  • Increased use of ultrafine particles of titanium dioxide in cosmetics and construction industries is expected to offer opportunities during the forecast period.
  • The Asia-Pacific region dominated the market worldwide. It is also expected to register the highest growth rate during the forecast period due to increasing consumption from China and India.

Titanium Dioxide Market Trends

This section covers the major market trends shaping the Titanium Dioxide Market according to our research experts:

Paints and Coatings Segment is Expected to Dominate the Market

  • Titanium dioxide is the most widely used white pigment material in the paints and coatings industry. When incorporated into a coating, it efficiently scatters visible light and imparts whiteness, brightness, and opacity, making it widely used in the paints and coatings industry.
  • The paints and coatings industry is experiencing a boom with the rapid growth of the building, construction, and automotive end-user industries.
  • Various expansions in the paints and coatings industry may augment the titanium dioxide market in the coming years. For reference, in May 2021, PPG Industries Inc. invested USD 13 million to expand its paints and coatings unit in China, which includes eight new powder coating production lines and an expanded powder coatings technology center. This expansion is anticipated to increase the capacity by more than 8,000 metric tons annually.
  • In the automotive sector, paints and coatings are used in the interior and exterior parts of the vehicle, as they impart protection and appeal to vehicles. They are used in metallic parts and plastic vehicle components of automobiles.
  • According to OICA data, global automotive production increased by around 3% and reached 80.14 million units in the 2021 compared to million units in the same period in 2020. The car sales increased by around 29% in the first half of 2021 compared to 2020, reaching 44.40 million units. This factor is likely to drive the market during the forecast period.
  • The demand for paints and coatings for electric cars is increasing as car manufacturers strive to reduce their carbon footprint. The paints and coatings used must be designed to withstand the harsh, high-voltage environment created by electric vehicular systems and to protect the car's body from corrosion. These coatings must also ensure the durability of the vehicle's surface and provide a range of aesthetic options. Additionally, global battery electric car sales increased by 135%, with 4.7 million units by the end of 2021.
Titanium Dioxide Market: Global Battery Electric Car Sales, Million Units, 2017-2021

Asia-Pacific to Dominate the Market

  • The Asia-Pacific region dominates the overall market. With the rising production in industries such as cosmetics, paints and coatings, and plastics, the consumption of titanium dioxide is projected to increase noticeably during the forecast period.
  • China is one of the world's largest producers and consumers of titanium dioxide products. Furthermore, the demand for TiO2 for paints and coatings will likely increase in the construction industry. According to the National Bureau of Statistics of China, in 2021, the Chinese construction industry generated an added value of approximately CNY 8 trillion (USD 0.15 trillion).
  • In November 2021, Asian Paints announced plans to invest USD 127 million in the Gujarat plant, India, to expand the paints manufacturing capacity from 130,000 kiloliters to 250,000 kilotons in the next two to three years.
  • In addition, the plastic industry is expected to grow in China and India. The Chinese plastic industry is growing at a high rate due to the availability of cheaper raw materials and massive demand from developing economies.
  • According to the National Bureau of Statistics of China, about 80.04 million metric tons of plastic products was produced in 2021, compared to 76.03 million metric tons in 2020.
  • According to the Plastics Export Promotion Council (PLEXCONCIL), India's plastics export increased by 11.1% to USD 295.3 billion (cumulative value) from April to November 2022 compared to USD 265.8 billion in April-November 2021.
  • The Asia-Pacific region is also witnessing strong growth in the demand for cosmetic products, leading to increased usage by teenagers and increased hygiene awareness, thus augmenting the market studied.
Titanium Dioxide Market - Growth Rate by Region, 2023-2028

Titanium Dioxide Industry Overview

The titanium dioxide market is a consolidated market, with a few major players holding a significant share of the market. Some of the major players (not in any particular order) in the market include The Chemours Company, Tronox Holdings PLC, Venator Materials PLC, KRONOS Worldwide Inc., and LB Group.

Titanium Dioxide Market Leaders

  1. The Chemours Company

  2. Venator Materials PLC

  3. LB Group

  4. Tronox Holdings PLC

  5. KRONOS Worldwide Inc.

*Disclaimer: Major Players sorted in no particular order

Titanium Dioxide Market Concentration
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Titanium Dioxide Market News

  • In August 2022, Chemours started mining at its newest sand mine in Florida, which will increase the company's titanium oxide production. Chemours will get ilmenite from the mine, which will be used in their chloride-based TiO2 synthesis process. The site's mining life should be eight years.
  • In January 2022, LB Group announced the investment of CNY 1 billion (USD 157.6 million) at the Xiangyang site to construct a new 200ktpa titanium dioxide (TiO2) pigment finishing plant. Two TiO2 pigment finishing lines will be built, each with the ability to process 100ktpa TiO2 pigment intermediate product.

Titanium Dioxide Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rapidly Increasing Demand for Paints and Coatings

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Toxicity and Stringent Environmental Policies of Titanium Dioxide

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Trade Analysis

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Grade

      1. 5.1.1 Rutile

      2. 5.1.2 Anatase

    2. 5.2 Application

      1. 5.2.1 Paints and Coatings

      2. 5.2.2 Plastics

      3. 5.2.3 Paper and Pulp

      4. 5.2.4 Cosmetics

      5. 5.2.5 Other Applications (Leather, Textiles)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Argex Titanium Inc.

      2. 6.4.2 Evonik Industries AG

      3. 6.4.3 Grupa Azoty

      4. 6.4.4 INEOS

      5. 6.4.5 Kemipex

      6. 6.4.6 KRONOS Worldwide Inc.

      7. 6.4.7 LB Group

      8. 6.4.8 Precheza

      9. 6.4.9 TAYCA

      10. 6.4.10 The Chemours Company

      11. 6.4.11 The Kish Company Inc.

      12. 6.4.12 Tronox Holdings PLC

      13. 6.4.13 Venator Materials PLC

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increased Use of Ultrafine Particles of Titanium Dioxide in Cosmetics and Construction Industries

**Subject to Availability
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Titanium Dioxide Industry Segmentation

Titanium dioxide is one of the whitest materials on the earth. It is used extensively as a white pigment to add whiteness and opacity in various applications, such as paints and coatings, cosmetics, food, and other applications. 

The titanium dioxide market is segmented by grade, application, and geography. By grade, the market is segmented into rutile and anatase. By application, the market is segmented into paints and coatings, plastics, paper and pulp, cosmetics, and other applications. The report also offers market size and forecast for 15 countries across major regions. For each segment, market sizing and forecast have been done based on volume (kiloton).

Grade
Rutile
Anatase
Application
Paints and Coatings
Plastics
Paper and Pulp
Cosmetics
Other Applications (Leather, Textiles)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Titanium Dioxide Market Research FAQs

The Titanium Dioxide Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

The Chemours Company, Venator Materials PLC, LB Group, Tronox Holdings PLC and KRONOS Worldwide Inc. are the major companies operating in the Titanium Dioxide Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Titanium Dioxide Market.

The report covers the Titanium Dioxide Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Titanium Dioxide Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Titanium Dioxide Industry Report

Statistics for the 2024 Titanium Dioxide market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Titanium Dioxide analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Titanium Dioxide Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)