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  • Titanium Dioxide Market Growth & Forecast Analysis | 2023-2028

    Titanium Dioxide Market Growth & Forecast Analysis | 2023-2028

    Titanium Dioxide Market Growth & Forecast Analysis | 2023-2028
    Report code - SRAM659 Delivery - 2 Weeks
    Titanium Dioxide Market Size, Share, Trends, Dynamics, Growth, & Forecast Analysis &nd See more...

    Market Insights

    The titanium dioxide market was estimated at USD 22.26 billion in 2022 and is likely to grow at a CAGR of 5.77% during 2023-2028 to reach USD 31.24 billion in 2028.

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    What is titanium dioxide?

    Titanium Dioxide (TiO2) is a white-pigmented compound widely used in various applications including plastics, paper, cosmetics, paints, and other industries. This compound has unique light-scattering properties, chemical stability, and a high refractive index, making it a valuable ingredient in numerous products. Titanium dioxide plays a vital role in several industries, primarily as a pigment, UV absorber, and photocatalyst.

    COVID-19 IMPACT

    The titanium dioxide market was negatively impacted due to the COVID-19 pandemic in the year 2020. There was a complete halt in manufacturing and construction activities resulting from labor shortage and disruption in the supply chain. This majorly affected the demand from various sectors, like paints and coatings, plastics, cosmetics, etc.

    Titanium Dioxide Market Highlights

    Market Size in 2022

    USD 22.26 billion

    Market Size in 2028

    USD 31.24 billion

    Market Growth (2023-2028)

    5.77% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the major players in the market are-

    • The Chemours Company
    • Venator Material Plc.
    • Kronos
    • Lomon Billions
    • Tronox Holding Plc.

    Market Dynamics

    Titanium Dioxide’s unique properties make it indispensable in a variety of applications. Owing to its properties and wide range of applications, there are several factors expected to drive growth in the global titanium dioxide market. Below given are a few -

    • Growing construction sector – The global construction industry including both residential and non-residential infrastructure is growing rapidly and is expected to more than double in size between 2020 and 2030. Since titanium dioxide is used in a variety of applications in the construction sector, growth in the global titanium dioxide market is expected with the growing construction sector.
    • Growing demand from the paints and coatings industry – Titanium dioxide is one of the major components in paints and coatings used in multiple sectors including automotive, consumer goods, etc. The growing demand for paints and coatings from all these sectors is substantially driving the market.
    • The rapid adoption of ultrafine particles of titanium dioxide in cosmetics – Ultrafine titanium dioxide, also called nanoscale titanium dioxide has excellent transparency, and more effective ultraviolet (UV) scattering and absorbing properties. Ultrafine titanium dioxide when used in various applications in the cosmetics industry, such as creams, loose and pressed powders, eyeshadows, sunscreens, etc. provides flawless effect and better protection against harmful sun rays. Owing to such benefits, more and more cosmetic makers are demanding titanium dioxide.
    • Stringent regulations across the globe – Governments across the globe are imposing stringent environmental regulations on the use of certain chemicals in paints and coatings that are harmful. This drives the market for titanium dioxide since this is one of the safest and most environmentally friendly components.

    Titanium-Dioxide-Market-Dynamics

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    Segment Analysis

    By Product Type

    The market is segmented as pigmentary and ultrafine. The pigmentary segment held the larger share of the market in 2022 and is expected to remain dominant during the forecast period. Growing penetration of titanium dioxide as pigments in a wide array of industries such as paints & coatings, printing inks, textiles, and others are the major factors driving the dominance of the segment.

    By Application Type

    The market is segmented as food, paints & coatings, paper & pulp, textiles, plastics & rubber, cosmetics, printing inks, and others. The paints & coatings segment accounted for a market share of more than 50% in 2022 and is expected to lead the market during the forecast period as well.

    Regional Insights

    In terms of regions, Asia-Pacific accounted for the largest market share of more than 40% in 2022, as well as the fastest-growing market for titanium dioxide during the forecast period, with China, Japan, India, and South Korea being the major countries with lucrative growth opportunities. The growth of the market is majorly driven by significant economic development in the regions, the growing disposable income of consumers, and the growing penetration of titanium dioxide in a wide array of industries. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories.

    By Process Type

    • Sulfate
    • Chloride

    By Grade Type

    • Rutile
    • Anatase

    By Product Type

    • Pigmentary
    • Ultrafine

    By Application Type

    • Food
    • Paints & Coatings
    • Paper & Pulp
    • Textiles
    • Plastic & Rubber
    • Cosmetic
    • Printing Inks
    • Others

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Titanium-Dioxide-Market-Segmentation

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    Recent News & Developments

    In August 2022, Chemours commenced mining operations at its new sand mine in Florida, with the aim of boosting its titanium oxide production. The company will extract ilmenite from this mine, a critical component for their chloride-based TiO2 synthesis process. The mining operation is expected to have a lifespan of eight years.

    On May 17, 2022, The Chemours Company, a multinational chemistry firm renowned for its leadership in Titanium Technologies, Thermal and Specialized Solutions, and Advanced Performance Materials, announced its leadership role in a three-year recycling research project. This collaborative effort involves industry, academic, and governmental experts and seeks to develop a more effective, cost-efficient, and environmentally sustainable process for recovering Titanium Dioxide (TiO2) and polymers from plastic waste. This initiative, known as Remove2Reclaim, has the potential to significantly benefit the environment by enabling circularity in a broader range of applications, thereby reducing waste and energy consumption in manufacturing.

    In May 2022, Chemours introduced process innovation with its new Viton TM Fluoroelastomers Advanced Polymer Architecture (APA) Offering. This chemistry company, listed on the NYSE as CC, is known for its leading market positions in Titanium Technologies, Thermal and specialized Solutions, and Advanced Performance Materials. They have developed an innovative and sustainable method to produce VitonTM fluoroelastomers of the Advanced Polymer Architecture (APA) grade without the use of a fluorinated polymerization aid.

    In April 2022, L.B. Group showcased its new line of Titanium Dioxide (TiO2) pigments for coatings and inks during the American Coatings Show held in Indianapolis from April 5 to 7, 2022.

    In January 2022, LB Group announced a significant investment of CNY 1 billion (USD 157.6 million) to construct a new 200ktpa titanium dioxide (TiO2) pigment finishing plant at the Xiangyang site. This ambitious project includes the construction of two TiO2 pigment finishing lines, each with the capacity to process 100ktpa TiO2 pigment intermediate product.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Titanium Dioxide Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    What are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the application types by product type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Titanium Dioxide (TiO2) is a white-pigmented compound widely used in a variety of applications including plastics, paper, cosmetics, paints, and other industries. This compound has unique light-scattering properties, chemical stability, and high refractive index, making it a valuable ingredient in numerous products. Titanium dioxide plays a vital role in several industries, primarily as a pigment, UV absorber, and photocatalyst.

    The titanium dioxide market was estimated at USD 22.26 billion in 2022.

    The titanium dioxide market is likely to reach US$ 31.24 billion in 2028.

    The titanium dioxide market is expected to witness an impressive growth of 5.77% CAGR in the foreseeable future.

    The Chemours Company, Venator Material Plc, Kronos, Lomon Billions, and Tronox Holding Plc are among the key players in the market.

    Asia-Pacific accounted for the largest market share of more than 40% in 2022, as well as the fastest-growing market.

    The paints & coatings segment accounted for a market share of >50% in 2022 and the pigmentary segment is expected to dominate the market in the coming five years.

    The major factors driving the growth of the market are the growing construction sector, growing demand from the paints and coatings industry, rapid adoption of ultrafine particles of titanium dioxide in cosmetics, and stringent regulations across the globe.

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