Titanium Dioxide (TiO2) Market Size, Share & Trends Analysis Report By Application (Paints & Coatings, Plastics, Pulp & Paper, Cosmetics), By Region (North America, Europe, APAC, MEA, CSA), And Segment Forecasts, 2019 - 2025

Industry Insights

The global titanium dioxide market size was valued at USD 15.76 billion in 2018 and is expected to witness a CAGR of 8.7% from 2019 to 2025. Escalating demand for lightweight vehicles owing to strict emission policies is expected to fuel the market growth over the coming years. Thus, rising usage of lightweight materials for enhanced safety and fuel-efficiency is expected to have a positive impact on the industry over the forecast period. These lightweight materials, when coated with titanium dioxide, increase durability, stability, persistence, and scratch resistance.

The product has an increasing application scope in printing inks, rubber, and chemical fibers. In printing inks, it is used in flexographic, lamination, screen printing, UV-cured, and metal decorative inks. Rapidly expanding the construction sector, especially in the U.S., is projected to contribute to the product demand in the years to come.

Thus, the rising number of residential and non-residential construction projects is augmenting the demand for paints & coatings, thereby boosting the overall market growth. Also, the high demand for anti-corrosive architectural coatings in the pigments has increased the demand for titanium dioxide.

The product prices in the U.S. are projected to be affected by the demand-supply imbalance in the country Furthermore, natural disasters in Florida and other parts of the country are anticipated to boost the construction market, thereby augmenting the titanium dioxide market growth.

Application Insights

Paints & coatings application segment led the market in 2018. TiO₂ is being increasingly utilized in vehicle paints owing to its resilience and brightness. Also, its high refractive index makes it suitable for pigments in vehicles. Titanium dioxide, which is used as a filler material in the paper mill industry, has wide application scope in decorative foils, decor papers, and various print-based applications. The product used in magazine papers provides gloss making it more attractive. Rising use of fillers by papermakers is expected to fuel the segment growth over the forecast period.

Increasing investment for infrastructure development in emerging countries has been a dominant factor driving the demand for anti-corrosion coatings, which in turn is expected to spur the market growth. The rising product used as a whitening agent in the redecoration market is also expected to contribute to the industry growth over the forecast period. In the plastics industry, the product is widely used for making masterbatches. However, a rise in product prices is projected to increase the utilization of substitutes, such as antimony oxide, zinc oxide, carbonates, and lithopone. This is expected to challenge the market growth over the forecast period.

Regional Insights

The Asia Pacific is expected to remain the largest market in the next few years. The growing commercial and residential construction sector coupled with increasing investments in infrastructure development in the region is anticipated to augment the demand for TiO₂. Europe is projected to witness a lucrative growth owing to the presence of numerous automobile manufacturers in countries, such as France and Germany.

Rising preference lightweight and Electric Vehicles (EVs) in the region are likely to assist the market growth further. As per the statistics of OICA, the regional market observed a growth of 3.1% in automotive production for the period 2016 to 2017. North America region accounted for 15.8% of market share in 2018, in terms of volume. Growing demand for paints & coatings from the infrastructure sector in the region is expected to spur the market over the next few years.

The product is used as an interior and exterior coating in various end-use applications. In Central and South America, the demand is expected to increase due to the growing Photovoltaic (PV) installation market. Titanium dioxide is used in the manufacturing of PV modules. Government investments in R&D and rising awareness about energy conservation in the region is resulting in increased demand for PV installation, which is expected to support industry growth.

Titanium Dioxide Market Share Insights

Some of the key manufacturers in the market Tronox Limited; E. I. du Pont de Nemours and Company; The Chemours Company; Cristal; NL Industries, Inc.; Huntsman Corporation; Argex Titanium, Inc.; Tayca Corporation; Evonik Industries; Lanka Mineral Sands Limited; Alchemy Heavy Metals Pvt. Ltd.; Kish Company, Inc.; Venator Materials Corporation; and Ishihara Sangyo Kaisha Ltd. These companies focus on regional expansion through various business strategies. For instance, many companies are locating new resources of titanium dioxide through M&A, joint ventures, and partnerships with exploration and mining firms.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global titanium dioxide market report based on application and region:

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • Paints & coatings

  • Plastic

  • Pulp & Paper

  • Cosmetics

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Sri Lanka

  • Central and South America

    • Brazil

  • MEA

    • UAE