Titanium Dioxide Market: In-depth Analysis, Demand Statistics & Competitive Outlook 2023-28

Stratview Research has published a new report titled “Titanium Dioxide Market” which is segmented by Process Type (Sulfate and Chloride), by Grade (Rutile and Anatase), by Product Type (Pigmentary and Ultrafine), by Application Type (Food, Paints & Coatings, Paper & Pulp, Plastics & Rubber, Cosmetics, Printing Inks, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, 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.
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.
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.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
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.
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.
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.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players active in the Titanium Dioxide Market:
• The Chemours Company
• Venator Material Plc.
• Kronos
• Lomon Billions
• Tronox Holding Plc.
Key questions answered by the report.
- What is the projected CAGR for revenue from the Titanium Dioxide Market during the forecast period?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Titanium Dioxide Market?
- Which are the major market players?
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