Titanium Dioxide Market Size, Share & Trends Report

Titanium Dioxide Market Size, Share & Trends Analysis Report By Grade (Anatase, Rutile), By Production Process (Sulfate, Chloride), By Application, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-705-6
  • Number of Pages: 140
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the titanium dioxide market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for titanium dioxide market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of titanium dioxide market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Titanium Dioxide Market Categorization:

The titanium dioxide market was categorized into four segments, namely grade (Anatase, Rutile), production process (Sulfate, Chloride), application (Paints & Coatings, Plastics, Pulp & Paper, Cosmetics), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The titanium dioxide market was segmented into grade, production process, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The titanium dioxide market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; France; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Titanium dioxide market companies & financials:

The titanium dioxide market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • The Chemours Company: The Chemours Company is a U.S.-based chemical company that was founded in 2015 as a spin-off from DuPont. It is headquartered in Wilmington, U.S. The company operates through three business segments, including titanium technologies, fluoro products, and chemical solutions. The company manufactures hydrochlorofluorocarbon (HCFC) & hydrofluorocarbon (HFC) alternatives, paint pigments, and sulfur dioxide within reduced emission standards. In addition, it offers car coolers, food fresher, homes warmer, and colors bolder. The company provides titanium dioxide pigments under the Titanium Technologies business segment and brand name—Ti-Pure One Coat, used in paints. The company also sells chloride-based TiO2 pigments under the brand name BaiMax, produced for customers in Greater China. Their direct customers in the titanium technologies segment are automotive & industrial coatings manufacturers, decorative coatings, PVC, polyolefin masterbatches, laminate paper, coated paperboard, and engineering polymers.

  • Tronox Holdings plc: Tronox Holdings plc was founded in 2005 in Stamford, U.S., and is a vertically integrated producer of titanium dioxide and inorganic chemicals. It markets titanium dioxide pigments under brand names TiKON and TiONA, and specialty-grade CristalACTiV titanium dioxide products. The company operates titanium-bearing mineral sand mines, beneficiation, and smelting operations in Brazil, South Africa, and Australia to produce feedstock to process titanium dioxide pigments, ultrafine TiO2, and titanium tetrachloride used in specific specialty applications. These products are used in paper, plastics, paints, and other everyday products.

  • LB Group: LB Group was founded in 1955 and is headquartered in Jiaozuo City, China. The company is engaged in producing and marketing high-performance chloride and sulfate titanium dioxide pigments for all major applications, including coatings, plastics, inks, and paper manufacturing. LB Group’s business consists of 6 main product lines, including titanium dioxide pigments, zirconium products, iron oxide pigments, ferrous sulfate monohydrate, and ilmenite & slag. The company has three sulfate process-based and two chloride process-based titanium dioxide pigments producing plants in Deyang, Jiaozuo, Xiangyang, and Chuxiong, along with one ilmenite mine in Panzhihua, Sichuan Province.

  • Venator Materials PLC: Venator Materials PLC was founded in 2017 and is headquartered in Wynyard, U.K. The company manufactures and markets titanium dioxide pigments and performance additives that protect and extend the product life. Their product range includes products like titanium dioxide, iron oxide, barium sulfate, ultramarines, zinc sulfide, lithopone, infrared reflecting pigments, carbon black, chromium oxide, and ferrous sulfate heptahydrate. The titanium dioxide pigments are marketed under brand names TIOXIDE, HOMBITAN, DELTIO, and ALTIRIS. The titanium dioxide manufactured by Venator Materials PLC is used in applications including active materials, agriculture, batteries, coatings, construction, cosmetics and personal care, fibers, films, food, industrial, inks, paper, pharmaceuticals, industrial, and plastics.

  • KRONOS Worldwide, Inc.: KRONOS Worldwide, Inc. was incorporated in 1989 and headquartered in Delaware, U.S. The company is engaged in producing titanium dioxide pigments that provide whiteness, brightness, and opacity. NL Industries, Inc. owns a substantial share of Kronos Worldwide Inc. Kronos offers TiO2 products under the brand name—Kronos. The products are utilized in numerous end-use applications, including coatings, plastics, paper, and consumer markets. The company also offers a wide range of over 40 TiO2 pigment products that are used in numerous applications. In addition, the company operates an ilmenite mine in Norway, which supplies feedstock to its manufacturing plants.

  • ISHIHARA SANGYO KAISHA, LTD.: ISHIHARA SANGYO KAISHA, LTD. was founded in 1920 and was incorporated in 1949. It is a publicly held chemical manufacturing company headquartered in Osaka, Japan. The company operates its business through segments, including titanium dioxide pigments, heat shield materials, functional materials, matting agents, environmental products, agrochemicals, animal health products, research reagents, and organic intermediates. ISHIHARA SANGYO KAISHA, LTD. manufactures and markets its titanium dioxide pigments under the TIPAQUE brand for various applications, including exterior paints, powder coatings, plastics, inks, paper, and glass and ceramic applications. As of 31 March 2020, the company employed 1,704 personnel.

  • CNNC Hua Yuan Titanium Dioxide Co., Ltd: CNNC Hua Yuan Titanium Dioxide Co., Ltd was established in 1989 and headquartered in Shanghai, China. It is engaged in the research, development, manufacturing, and marketing of rutile-type titanium dioxide in China. As a listed enterprise in China Stock Exchange Market (stock code:002145), it has six wholly owned subsidiaries, including four manufacturing plants, one sales corporation, and one procurement center. CNNC Hua Yuan Titanium Dioxide Co., Ltd provides customers with a range of high-grade rutile titanium dioxide pigments used in plastics, coatings, ink, chemical fibers, rubber, cosmetics, paper, and other areas. The company provides customers at home and overseas with high-quality titanium dioxide, certified by the ISO 9001:2000 quality standards.

  • The Kerala Minerals & Metals Limited: The Kerala Minerals & Metals Limited, established in 1972, post-conversion of F. X. Pereira and Sons (Travancore) Pvt. Ltd by the Kerala state government. The company is an integrated titanium dioxide facility having mining, mineral separation, synthetic rutile, and pigment-production plants. It markets the titanium dioxide pigment under the brand name KEMOX. The Kerala Minerals & Metals Limited also provides ilmenite, rutile, zircon, sillimenite, synthetic rutile, etc. Kerala Minerals & Metals Limited's marketing network consists of 30 offices servicing 50 countries and has an entire India network of 12 stockists. Its products are supplied to industries all over the globe, including countries like the UK, Dubai, China, South Africa, Korea, the Philippines, Turkey, Sri Lanka, and Mauritius.

  • Travancore Titanium Products Ltd.: Travancore Titanium Products Ltd. was incorporated on the 18th of December 1946 and is headquartered in Thiruvananthapuram, India. It became a State Public sector unit in 1960, with the Government of Kerala owning 97.55% of the shares. The company's product portfolio includes anatase and rutile grade titanium dioxide, sulphuric acid, potassium titanate, and cement bricks. Travancore Titanium Products Ltd. provides products to various industries, including plastics, construction, automotive, agricultural, textile, and petrochemical.

  • CATHAYINDUSTRIES: CATHAYINDUSTRIES was established in 1979 and is headquartered in Hiwassee, U.S. The company started as a trading firm but over the period became a global manufacturer and supplier of iron oxide, chrome oxide, ferrite, titanium dioxide, environ oxide, heat-stable ferrites, siennas, van dyke brown, ochres, and bone black. The company serves various industries, including construction, plastics, paper, construction, and automotive. CATHAYINDUSTRIES has its manufacturing facility, one regional office based in the U.S., and its subsidiary CATHAY Pigments Asia Pacific Pte. Limited in Singapore.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Titanium Dioxide Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Titanium Dioxide Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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