Titanium Dioxide (TiO2) Market Size And Forecast By Application (Paints & Coatings, Plastics, Paper & Pulp, Cosmetics), By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa), By Country And Trend Report

Titanium Dioxide (TiO2) Market Size And Forecast By Application (Paints & Coatings, Plastics, Paper & Pulp, Cosmetics), By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa), By Country And Trend Analysis From 2014 To 2025

Published: November 2016  |  85 Pages  |  Format: PDF  |  Report ID: 978-1-68038-705-6

Titanium Dioxide Market Size and Trends

The global titanium dioxide (TiO2) market size was valued at USD 17.7 billion in 2015. The market is expected to witness growth at a CAGR of over 14% over the forecast period owing to increasing demand from various industries including cosmetics, paints & coatings, and plastics. It is also used as an intermediate in manufacturing various pigments, which in turn is expected to propel industry growth over the forecast period.

Increasing disposable income along with growing consumption of paints & coatings particularly in the automotive and construction industry will augment growth in Asia Pacific. Furthermore, surging use of cosmetic products in Latin America and the Middle East will increase consumption of titanium dioxide over the forecast period.

Global titanium dioxide market revenue, by application, 2015

Global titanium dioxide market

There is a surge in demand for polycarbonate, a thermoplastic used as an alternate to glass and metal-based parts, owing to rise in the number of lightweight vehicles manufactured in the automobile industry. The increasing use of titanium dioxide as a coating material on polycarbonate due to its low scratch resistance is expected to propel demand over the forecast period.

Technological innovations aimed at improving manufacturing processes to increase product yield with high quality will have a positive impact on the industry over the forecast period. Stringent regulations by agencies in various regions on account of its carcinogenic properties may hamper the growth of TiO2 industry over the next few years.

Application insights

Titanium dioxide finds applications in various sectors including paints & coatings, plastics, paper and pulp, cosmetics, and others including printing ink, rubber and chemical fibers. Paints & coatings were the largest application segment in 2015 accounting for over 55% of global revenue and are expected to grow significantly owing to its properties such as high refractive index and degree of transparency.

Robust cosmetic manufacturing base coupled with surging domestic demand from U.S., China, Germany, Saudi Arabia, Italy, Mexico, Brazil, France and the UK is expected to augment titanium dioxide market growth over the forecast period.

Product use in the plastics sector is expected to grow at a rapid CAGR of over 8% from 2016 to 2025 in terms of volume accounted by high demand for lightweight vehicles in China and India. Increasing product consumption in the manufacturing of toys on account of superior properties such as plastic filming, high tinting strength, and a low insulating effect is expected to have a positive impact on the market over the next nine years.

Global titanium dioxide market revenue from plastic application, 2014 - 2025 (USD Million)

Global titanium dioxide market

In PVC products, titanium dioxide improves light, heat and weathering properties and protects it from UV light. Also, it improves mechanical strength and electrical properties in the cable material thus improving performance.

Regional insights

Europe held the second largest share of the TiO2 market in 2015, accounting for over 25% of the global volume share and will witness growth on account of rising need for cosmetic products in Germany, Italy, France and UK. Urbanization, higher spending power and growing awareness regarding appearance and grooming are expected to propel cosmetic industry in the region thereby driving the industry over the forecast period.

Asia Pacific was the dominant market and is expected to witness significant growth at a CAGR of over 13% from 2016 to 2025 in terms of volume on account of growing cosmetic sector in China, India, Indonesia, Malaysia Philippines, Singapore, Thailand and Vietnam. High investment by foreign players including Elizabeth Arden, Inc., The Campana Company, and Burt's Bees will promote industry growth over the next few years. Rising consciousness regarding personal grooming among Chinese consumers, coupled with increasing spending power is expected to propel cosmetic demand in the country thereby fueling the growth of titanium dioxide industry.

China TiO2 volume, by application, 2014 - 2025 (Kilo Tons)

China TiO2 volume

Increasing demand in Europe for architectural paints, automotive coatings, industrial coatings and coil coatings is expected to have a positive impact on the TiO2 market. In addition, the product is being incorporated in the manufacturing of attractive plastic toys and other plastic products over the past few years. However, stringent regulations for product manufacturing and use are expected to hamper the market growth over the next nine years.

Competitive insights

The global titanium dioxide industry is moderately consolidated with top four players comprising for about 50% of the net production volumes. DuPont, Kronos Worldwide, Tronox Limited and Cristal Global are key manufacturers. Other producers include Huntsman, Argex Titanium Inc, and Evonik.

A few players in this market are integrated across various stages of the value chain. Companies including Kronos Worldwide Inc., Travancore, and Tronox manufacture raw materials such as ilmenite, rutile and anatase, which are consumed for production of titanium dioxide. Companies such as AkzoNobel and BASF manufacture titanium dioxide employed in paints &coatings. Integration across numerous stages of the value chain results in continuous raw material supply as well as low manufacturing cost.

 

Titanium dioxide Report Scope

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2015

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Forecast

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Market size, company market share, competitive Landscape, growth factors, trends

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Market segments covered in the report

Grand View Research has segmented the titanium dioxide (TiO2) market by application, and region.

  • Global Titanium Dioxide Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
    • Paints & coatings

    • Plastics

    • Paper & pulp

    • Cosmetics

    • Others

  • Global Titanium Dioxide Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
    • North America

      • U.S

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Brazil

    • Middle East and Africa

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