Global Titanium Dioxide Market, 2023-2028
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Market Overview
The global titanium dioxide market has experienced steady growth and is expected to continue expanding in the coming years. In 2022, the market was valued at USD 14.8 billion, and it is projected to reach USD 20.4 billion by 2028, growing at a compound annual growth rate (CAGR) of 5.37% during the forecast period.
Titanium dioxide is a naturally occurring mineral composed of titanium and oxygen. It is widely used as a white pigment in various industries. One of its primary applications is in paints, where it provides opacity and brightness to coatings. It is also utilized in plastics to enhance their whiteness and opacity. In the paper industry, titanium dioxide is used to improve the brightness and printability of paper products. Additionally, it is a common ingredient in cosmetics, providing a white color and opacity to products such as foundations, powders, and lipsticks.
Furthermore, titanium dioxide is employed as a UV filter in sunscreens to protect the skin from harmful ultraviolet (UV) radiation. Its ability to reflect and scatter UV rays makes it an effective ingredient in sun protection products. Moreover, titanium dioxide is used as a food additive, primarily in confectionery and dairy products, to provide a white color and improve the texture of foods.
Research Coverage
The report provides a detailed analysis of the following segments within the titanium dioxide market:
Product grade: nanomaterial grade TiO2, and pigment grade TiO2
Application: paints and coatings, personal care and cosmetics, plastics, pulp and paper, and others
Region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), and Latin America
Titanium dioxide is produced in two primary forms: pigment grade and ultrafine (nanomaterial) form. The pigment grade titanium dioxide is the dominant form, accounting for over 98 percent of the total production. This form is highly sought after for its exceptional light-scattering properties, making it ideal for applications that require white opacity and brightness.
The pigmentary form of titanium dioxide is widely used in the paints and coatings industry. It provides color, opacity, and durability to the finished products, ensuring vibrant and long-lasting coatings. Additionally, it is utilized in the production of plastics, paper, and other materials that require high levels of whiteness and opacity.
On the other hand, titanium dioxide is also produced in the ultrafine (nanomaterial) form. Although it has a minor share of about 2.0% of consumption volume, it finds its application in various industries. The ultrafine form is selected when specific properties, such as transparency and maximum ultraviolet light absorption, are required.
In the cosmetics industry, the ultrafine-grade titanium dioxide is used in the production of sunscreens and other skincare products. Its ultrafine particle size provides better coverage and protection against harmful UV radiation, making it an essential ingredient in sun protection formulations.
Furthermore, nanomaterial-grade titanium dioxide serves as a support material in catalyst applications. It is utilized in various catalytic processes, including exhaust gas systems for cars, trucks, and power plants. As a DeNOx catalyst, it helps minimize the environmental impact of these vehicles and facilities by reducing nitrogen oxide emissions. The unique properties of nanomaterial-grade titanium dioxide make it a valuable component in advanced applications. Its small particle size and enhanced surface area contribute to improved performance and efficiency in various industries.
The paints and coatings industry is the largest consumer of titanium dioxide, accounting for an estimated 60% of the total global consumption. This industry heavily relies on titanium dioxide to produce white pigments that are used in paints and coatings applications. The construction sector is the largest consumer of these pigments, which are used to provide a bright and opaque finish to buildings and other structures. Additionally, titanium dioxide is used in the production of protective coatings for plastics, which are used in various applications, including household appliances, electronic devices, and automotive parts.
Apart from the paints and coatings industry, titanium dioxide is also used in the production of paper and paperboard. It is added to these products to impart brightness and opacity, which are essential qualities in printing paper, packaging materials, and tissue paper. The plastics industry also relies on titanium dioxide for its high opacity and whiteness, which are important properties in many plastic products, such as molded parts, films, and sheets. Collectively, the plastics and paper and paperboard industries account for one-third of the consumption volume of titanium dioxide.
The Asia-Pacific region, encompassing countries such as China, India, Japan, and South Korea, holds a prominent position as a major consumer of titanium dioxide. This region accounts for the largest share of the total consumption of this versatile material. The demand for titanium dioxide in the Asia-Pacific region is driven by various industries, including paints and coatings, plastics, paper, and textiles.
One of the key factors contributing to the high demand for titanium dioxide in the Asia-Pacific region is the rapid industrialization and urbanization taking place in countries like China and India. These countries are experiencing significant growth in construction activities, infrastructure development, and the automotive industry. As a result, there is a substantial need for paints and coatings to protect and enhance the appearance of buildings, infrastructure, and vehicles. Titanium dioxide is a crucial ingredient in these applications, providing excellent opacity, brightness, and durability to the finished products.
Moreover, the Asia-Pacific region is home to some of the world's largest producers of titanium dioxide, with China leading the way as both the largest producer and consumer of this material. The presence of these major producers ensures a steady supply of titanium dioxide in the region, making it an attractive market for manufacturers. The proximity of production facilities to the consumer markets also helps in reducing transportation costs and ensuring timely delivery of the product.
In addition to paints and coatings, the plastics industry in the Asia-Pacific region is a significant consumer of titanium dioxide. The growing demand for plastic products, driven by various sectors such as packaging, automotive, and electronics, has led to an increased use of titanium dioxide as a whitening and opacifying agent. Similarly, the paper industry utilizes titanium dioxide to improve the brightness and printability of paper products, meeting the rising demand for high-quality paper in the region.
Competitive Landscape
The global titanium dioxide industry is dominated by several significant companies that play a crucial role in the market. Some of these key players include The Chemours Company, Venator Materials PLC, Tronox Holdings plc, KRONOS Worldwide Inc., Lomon Billions Group Co., Ltd., Tayca Corporation, Ishihara Sangyo Kaisha Ltd., INEOS Group Limited, and PRECHEZA a.s.
The Chemours Company stands out as one of the largest producers of titanium dioxide globally, holding a substantial market share of around 20%. The company is known for its high-quality titanium dioxide products and its commitment to sustainability and responsible manufacturing practices.
Titanium Dioxide Industry Developments
▸ In May 2020, Tronox Holdings announced the acquisition of the TiZir Titanium and Iron (TTI) business from Eramet S.A. This strategic acquisition aimed to enhance Tronox's vertical integration strategy and provide a larger titanium feedstock to meet internal requirements and serve pigment customers more effectively.
▸ In August 2019, The Chemours Company acquired Southern Ionics Minerals LLC, a mining and manufacturing company involved in titanium and zirconium mineral sands. This acquisition doubled Chemours' mineral sand processing capacity and expanded its presence in the titanium dioxide market.
Key Questions Answered
What is the projected global market size of titanium dioxide by 2028
Which product grade segment possesses the largest market share
Which application segment demonstrates the most significant dominance
In terms of market dominance, which region segment prevails in the titanium dioxide market
Who are the key players with the largest market share in the titanium dioxide market
What is the estimated global market size for the titanium dioxide market in 2023
What are the main factors driving the growth of the titanium dioxide market
What is the expected incremental growth of the titanium dioxide market during the forecast period
Figures and Tables
Part 1. Executive Summary
1.1 Market Snapshot
1.2.CXO’s Perspective
Part 2. Introduction
2.1 Introduction
2.2 Key Benefits for Stakeholders
2.3 Key Market Segments
2.4 Research Methodology
2.5 Target Audience
Part 3. Market Overview
3.1 Properties and Applications
3.2 Value Chain Analysis
3.3 Raw Materials (Ilmenite, Rutile, and Anatase)
3.3.1 Ilmenite
3.3.2 Rutile
3.3.3 Anatase
3.4 Manufacturing of Titanium Dioxide
3.4.1 Sulfate Process
3.4.2 Chloride Process
3.4.3 Argex Technology Process
3.5 Regulations
3.5.1 Environmental Regulations
3.5.2 International Agency for Research on Cancer (IARC)
3.5.3 Food industry
3.5.4 Cosmetic Industry
3.6 Porter’s Five Forces Analysis
3.6.1. Bargaining Power of the Supplier
3.6.2 Bargaining Power of the Buyer
3.6.3 Threat of Substitute
3.6.4 Competitive Rivalry
3.6.5 Threat of New Entrant
3.7 Market Dynamics
3.7.1 Drivers
3.7.2 Restraints
3.7.3 COVID-19 Impact on Titanium Dioxide Market
Part 4. Market Segmentation, by Product Grade
4.1 Pigment-grade Titanium Dioxide
4.2 Ultrafine-grade, or Nanoscale Titanium Dioxide
Part 5. Market Segmentation, by Application
5.1 Paints and Coatings
5.2 Plastics
5.3 Paper and Paperboard
5.4 Others
Part 6. Market Segmentation, by Region
6.1 North America
6.1.1 Market Estimates and Forecast
6.1.2 by Country
6.1.2.1 The United States
6.1.2.2 Canada
6.1.3 by Product
6.1.4 by Application
6.1.4.1 Paints and Coatings
6.1.4.2 Plastics
6.1.4.3 Paper and Paperboard
6.1.4.4 Others
6.2 Europe
6.2.1 Market Estimates and Forecast
6.2.2 by Country
6.2.3 by Product
6.2.4 by Application
6.2.4.1 Paints and Coatings
6.2.4.2 Plastics
6.2.4.3 Paper & Paperboard
6.2.4.4 Others
6.3 Asia Pacific
6.3.1 Market Estimates and Forecast
6.3.2 by Country
6.3.2.1 China
6.3.2.2 India
6.3.2.3 Japan
6.3.2.4 Others
6.3.3 by Product
6.3.4 by Application
6.3.4.1 Paints and Coatings
6.3.4.2 Plastics
6.3.4.3 Paper and Paperboard
6.3.4.4 Others
6.4 Rest of World (RoW)
6.4.1 Market Estimates and Forecast
6.4.2 by Country
6.4.2.1 The Middle East and Africa
6.4.2.2 Latin America
6.4.3 by Product
6.4.4 by Application
6.4.4.1 Paints and Coatings
6.4.4.2 Plastics
6.4.4.3 Paper and Paperboard
6.4.4.4 Others
Part 7. Company Profiles
7.1 Anhui Annada Titanium Industry Co., Ltd.
7.2 Argex Titanium Inc.
7.3 Beach Minerals Co. Pvt. Ltd. (BMC)
7.4 China National BlueStar (Group) Co., Ltd.
7.5 Cinkarna Celje d.d.
7.6 Cochin Minerals and Rutile Limited (CMRL)
7.7 DCW Ltd.
7.8 Evonik Industries AG
7.9 GPRO Titanium Industry Co., Ltd.
7.10 INEOS Group Limited
7.11 IREL (India) Limited
7.12 Ishihara Sangyo Kaisha Ltd.
7.13 KRONOS Worldwide, Inc.
7.14 Lomon Billions Group Co., Ltd.
7.15 Meghmani Organics Ltd. (Kilburn Chemicals Ltd.)
7.16 Neiman Group
7.17 Ningbo Xinfu Titanium Dioxide Co., Ltd.
7.18 Pangang Group Vanadium Titanium and Resources Co., Ltd.
7.19 Sakai Chemical Industry Co., Ltd.
7.20 Shandong Dawn Titanium Industry Co., Ltd.
7.21 Shandong Doguide Group Co., Ltd.
7.22 Shandong Jinhai Titanium Resources Technology Co., Ltd.
7.23 Tayca Corporation
7.24 The Chemours Company
7.25 The Kerala Minerals and Metals Limited (TKMML)
7.26 Tianjin Master Technology Co., Ltd.
7.27 Toho Titanium Co., Ltd.
7.28 Travancore Titanium Products Ltd.
7.29 Tronox Holdings plc
7.30 Ukrainian Chemical Products – Group DF
7.31 V.V. Mineral (VVM)
7.32 Venator Materials PLC
7.33 Yunnan Dahutong Titanium Industry Co., Ltd.
Part 8. Mergers and Acquisitions
DISCLAIMER
Research Methodology:
Global Titanium Dioxide Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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