Market Size of Titanium Dioxide Industry
| 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
*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.
