Global Titanium Dioxide Market

Titanium Dioxide Market Size, Share, Growth Analysis, By Grade(Rutile, Anatase), By Process(Chloride, Sulphate), By Application(Paints, coatings), By End User(Automotive, construction industry) - Industry Forecast 2024-2031

Report ID: SQMIG15A2321 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 119 | Figures: 77

Titanium Dioxide Market News

  • In January 2022, LB Group stated the funding of USD 157.6 Million at the Xiangyang site to construct a new 200ktpa titanium dioxide (TiO2) pigment finishing plant.
  • In July 2021, Venator Materials PLC (“Venator”) declared a global price hike for all of its titanium dioxide pigments for coatings, plastics, inks, and paper applications.
  • In July 2020, Lomon Billions planned to invest USD 2 billion to expand mining operations in Panzhihua City in China, to manufacture ilmenite.
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Titanium Dioxide Market size was valued at USD 20.9 billion in 2019 and is poised to grow from USD 22.13 billion in 2023 to USD 37.08 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).

To maintain a competitive edge, major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the prominent market players are also focussing on concentrating on R&D. Various companies follow the work processes and companies such as Tronox Corp., Kronos Worldwide Inc., and Travancore are engaged in the extraction of raw materials as well as titanium dioxide productions which is a positive in the growth of the market. 'Chemours Company', 'Tronox Holdings plc', 'Venator Materials PLC', 'Kronos Worldwide, Inc.', 'Cristal', 'Tayca Corporation', 'Lomon Billions Group Co. Ltd.', 'Iluka Resources Limited', 'Henan Billions Chemicals Co., Ltd.', 'Shandong Doguide Group Co., Ltd.', 'CNNC Hua Yuan Titanium Dioxide Co., Ltd.', 'Yunnan Dahutong Industry & Trading Co., Ltd.', 'Pangang Group Vanadium Titanium & Resources Co., Ltd.', 'Grupa Azoty S.A.', 'Precheza a.s.', 'Shandong Dawn Polymer Co., Ltd.', 'Shandong Jinhai Titanium Resources Technology Co., Ltd.', 'Shandong Dongjia Group Co., Ltd.', 'Shaanxi Non-ferrous Tian Hong Recourses Co., Ltd.', 'Anhui Annada Titanium Industry Co., Ltd.'

The key market driver responsible for the market growth is rising demand for lightweight vehicles, which is supported by rising technological advancements and innovations in the automotive industry. Regulations governing emission policies may contribute to an increase in demand for fuel-efficient vehicles. This is expected to boost demand even more. Rising construction activities as a result of consumers' improving lifestyles and increasing renovation activities, as well as new infrastructure projects from governments, are driving the titanium dioxide market growth. Furthermore, growth in other industries such as appliance manufacturing, consumer goods, and electronics is supporting demand.

Increasing use of TiO2 as pigments in paints and coatings, printing inks, textiles, rubbers, and other applications is positively impacting the market. Technological advancement has resulted in the use of TiO2 for lamination, metal decorative inks, and screen printing in the printing inks segment, creating new growth opportunities. Furthermore, the rising demand for lightweight vehicles due to improved fuel efficiency is expected to drive up demand. This mineral is used to coat plastic-based auto parts such as bumpers, interiors, and exteriors.

titanium dioxide market is dominated by Asia Pacific and the region is expected to experience significant growth during the forecast period. India, China and other South-East countries have emerged as a significant contributor to market growth in the Asia Pacific region because of the increasing construction activities. The region held the largest revenue share of 41.44% in 2021. The automotive market in Asia Pacific is growing owing to the increasing demand for electric vehicles due to rising fuel prices and environmental pollution concerns associated with gasoline-powered cars.

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Global Titanium Dioxide Market

Product ID: SQMIG15A2321