Titanium Dioxide Market Research Report- Forecast to 2030

Titanium Dioxide Market Information-by Application (Paints, Coatings Plastics, Photo-electrode, Pigment, Paper, Cosmetics, Food Additives, and Others), End User (Automotive, Personal Care, Pharmaceutical, Food & Beverages, Construction Industry, and Others) and Region Forecast till 2030

ID: MRFR/CnM/0575-HCR | February 2021 | Region: Global | 185 Pages         

TABLE OF CONTENTS

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Titanium Dioxide Market

5 Industry Overview of Global Titanium Dioxide Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

5.5 Impact analysis

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Titanium Dioxide Market by Region

8. Global Titanium Dioxide Market by Application (Paints, Coatings Plastics, Photo-electrode, Pigment, Paper, Cosmetics, Food Additives, and Others)

9. Global Titanium Dioxide Market by End User (Automotive, Personal Care, Pharmaceutical, Food & Beverages, Construction Industry, and Others)

10. Company Profiles

10.1 DuPont

10.1.1 Company Overview

10.1.2 Product/Business Segment Overview

10.1.3 Financial Updates

10.1.4 Key Developments

10.2 Tronox Limited

10.2.1 Company Overview

10.2.2 Product/Business Segment Overview

10.2.3 Financial Updates

10.2.4 Key Developments

10.3 CRISTAL

10.3.1 Company Overview

10.3.2 Product/Business Segment Overview

10.3.3 Financial Updates

10.3.4 Key Developments

10.4 The Chemours Company Chemours

10.4.1 Company Overview

10.4.2 Product/Business Segment Overview

10.4.3 Financial Updates

10.4.4 Key Developments

10.5 NL Industries, Inc

10.5.1 Company Overview

10.5.2 Product/Business Segment Overview

10.5.3 Financial Updates

10.5.4 Key Developments

10.6 Shandong Doguide Group Co., Ltd

10.6.1 Company Overview

10.6.2 Product/Business Segment Overview

10.6.3 Financial Updates

10.6.4 Key Developments

10.7 Argex Titanium Inc.

10.7.1 Company Overview

10.7.2 Product/Business Segment Overview

10.7.3 Financial Updates

10.7.4 Key Developments

10.8 Huntsman International LLC.

10.8.1 Company Overview

10.8.2 Product/Business Segment Overview

10.8.3 Financial Updates

10.8.4 Key Developments

10.9 Evonik Industries

10.9.1 Company Overview

10.9.2 Product/Business Segment Overview

10.9.3 Financial Updates

10.9.4 Key Developments

10.10 Tayca Corporation

10.10.1 Company Overview

10.10.2 Product/Business Segment Overview

10.10.3 Financial Updates

10.10.4 Key Developments

11 Conclusion

LIST OF TABLES

Table 1 World Population by Major Regions (2020 To 2030) (Billion)

Table 2 Global Titanium Dioxide Market: By Region, 2020-2027 (USD Billion)

Table 3 North America Titanium Dioxide Market: By Country, 2020-2027 (USD Billion)

Table 4 Europe Titanium Dioxide Market: By Country, 2020-2027 (USD Billion)

Table 5 Asia-Pacific Titanium Dioxide Market: By Country, 2020-2027 (USD Billion)

Table 6 RoW Titanium Dioxide Market: By Country, 2020-2027 (USD Billion)

Table 7 Global Titanium Dioxide by Application Market: By Regions, 2020-2027 (USD Billion)

Table 8 North America Titanium Dioxide by Application Market: By Country, 2020-2027 (USD Billion)

Table 9 Europe Titanium Dioxide by Application Market: By Country, 2020-2027 (USD Billion)

Table10 Asia-Pacific Titanium Dioxide by Application Market: By Country, 2020-2027 (USD Billion)

Table11 RoW Titanium Dioxide by Application Market: By Country, 2020-2027 (USD Billion)

Table12 North America Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table13 Europe Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table14 Asia-Pacific Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table15 RoW Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table16 Global Titanium Dioxide for Types Market: By Region, 2020-2027 (USD Billion)

Table17 North America Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table18 Europe Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table19 Asia-Pacific Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table20 RoW Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table21 RoW Titanium Dioxide for Types Market: By Country, 2020-2027 (USD Billion)

Table22 Global Application Market: By Region, 2020-2027 (USD Billion)

Table23 Global Types Market: By Region, 2020-2027 (USD Billion)

Table24 North America Titanium Dioxide Market, By Country (USD Billion)

Table25 North America Titanium Dioxide Market, By Application (Billion USD)

Table26 North America Titanium Dioxide Market, By Types (Billion USD)

Table27 Europe: Titanium Dioxide Market, By Country (USD Billion)

Table28 Europe: Titanium Dioxide Market, By Application (USD Billion)

Table29 Europe: Titanium Dioxide Market, By Types (USD Billion)

Table30 Asia-Pacific: Titanium Dioxide Market, By Country (USD Billion)

Table31 Asia-Pacific: Titanium Dioxide Market, By Application (USD Billion)

Table32 Asia-Pacific: Titanium Dioxide Market, By Types (USD Billion)

Table33 RoW: Titanium Dioxide Market, By Country (USD Billion)

Table34 RoW Titanium Dioxide Market, By Application (USD Billion)

Table35 RoW: Titanium Dioxide Market, By Types (USD Billion)



LIST OF FIGURES

FIGURE 1 Global Titanium Dioxide Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Titanium Dioxide Market

FIGURE 4 Value Chain of Global Titanium Dioxide Market

FIGURE 5 Share of Global Titanium Dioxide Market in 2020, by country (in %)

FIGURE 6 Global Titanium Dioxide Market, 2020-2027, (USD Billion)

FIGURE 7 Sub-segments of Types

FIGURE 8 Global Titanium Dioxide Market size by Types, 2020

FIGURE 9 Share of Global Titanium Dioxide Market by Types, 2020 to 2027

FIGURE 10 Global Titanium Dioxide Market size by Application, 2020

FIGURE 11 Share of Global Titanium Dioxide Market by Application, 2020 to 2027

Titanium Dioxide Market

The Titanium Dioxide Market has a CAGR of 8.92% until 2030. The market was worth USD 21.37 billion in 2020 and is projected to be worth USD 34.47 billion in 2030

Segmentation

By Application Paints Coatings Plastics Photo Electrode Pigment Paper Cosmetics Food Additives Others
By End User Automotive Personal Care Pharmaceutical Food & Beverages Construction Industry Others

Key Players

  • DuPont (US)
  • Tayca Corporation (Japan)
  • Tronox Limited (US)
  • Evonik Industries (Germany)
  • CRISTAL (Saudi Arabia)
  • Huntsman International LLC.
  • The Chemours Company Chemours
  • Argex Titanium Inc.
  • Shandong Doguide Group Co. Ltd
  • NL Industries Inc

Drivers

  • Increased usage of titanium dioxide in the manufacture of motor vehicles and photovoltaic systems
  • Increased demand for paints in the construction industry
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Titanium Dioxide Market Overview


The titanium dioxide market has a CAGR of 8.92% until 2030. The market was worth USD 21.37 billion in 2020 and is projected to be worth USD 34.47 billion in 2030.

Titanium dioxide is a metal that can be mined. It’s primarily used as a paint top coat when various motor vehicles are being manufactured.


Titanium dioxide is not affected by the Sun’s harmful ultraviolet rays. That gives it many useful applications. Companies in many industries use titanium dioxide pigments when processing their products. These industries are:



  • Food

  • Cosmetics

  • Paint & coating

  • Plastics

  • Skin care


Titanium dioxide is extremely white. This is what allows it to disperse any light that’s reflected on the goods that it coats.


COVID-19 analysis


The COVID-19 virus is changing the destiny of the 21st century world in the same way that the yesenia persists pathogen did in the 14th century. Both viruses were extremely dangerous. They made many people very ill and killed a few people. Governments realized early on that they needed to contain this virus (COVID-19.) That’s why they initiated lockdowns and quarantines. These were temporary since they were not very effective.


Many industries were forced to either halt operations temporarily or scale production back dramatically. This hurt many industries and markets. The titanium dioxide market was one of these. Because new motor vehicle sales dropped dramatically (people were not traveling nearly as much) production of titanium dioxide dropped dramatically.


List of Key Players in the Titanium Dioxide Market



  • DuPont (US),

  • Tayca Corporation (Japan),

  • Tronox Limited (US),

  • Evonik Industries (Germany),

  • CRISTAL (Saudi Arabia),

  • Huntsman International LLC. (US),

  • The Chemours Company Chemours (US),

  • Argex Titanium Inc. (North America),

  • Shandong Doguide Group Co., Ltd (China),

  • NL Industries, Inc (US),


Market dynamics


Drivers


The titanium dioxide market growth rate is driven by many factors. These include the increased usage of titanium dioxide in the manufacture of motor vehicles (demand for cars is picking up now that the vaccine is becoming widespread) and photovoltaic systems.


There has been significant growth in the paint and coatings industry in the last few years. The reason why is because many supporting industries use paint and coatings in their daily operations and activities. These industries include:



  • Construction

  • Automotive

  • Aerospace

  • Energy and power


Titanium dioxide is a popular material to use in paints because it’s white and shiny. This gives the walls that they paint a clean and white sheen.


People in many developing nations are increasingly becoming aware of the importance of personal hygiene. The middle classes in India, China, Brazil, and Russia are better educated now and understand that they can’t do without personal hygiene or care products. Many skincare, foundation, and face powder products use titanium dioxide because of their ability to tone skin and make it look lighter. It’s also a popular material to use because it protects the skin from the Sun’s harmful UV rays.


The plastics sector will have the highest growth rate of all of the sectors that use titanium dioxide. The reason is that it helps plastics become weather-resistant, more flexible, and more durable.


Opportunities


Because the titanium dioxide market is lucrative many companies are spending millions, if not billions, on quality research and development. They are coming up with superior products that do a better job of whitening products and making them more durable and flexible while ensuring that they are safe for humans and animals to use and consume.


Restraints


Many of the companies that produced titanium dioxide were forced to shut down or scale back production at least temporarily. This affected their long-term production capacities and drove the price of titanium dioxide up. This is a restraining factor.


Challenges


Perhaps the biggest challenge that companies in the titanium dioxide market face lie in producing products that are safer to use and have lower price points in the era of the pandemic.


Cumulative growth analysis


The CAGR in the titanium dioxide market is expected to be 8.92% by 2028. The market was worth USD 21.37 billion in 2020. It is projected to be worth 34.47 billion in 2028.


Technology analysis


DuPont Inc is a major American company in the titanium dioxide market. It has managed to retain its superior position by investing heavily in research and development. This has allowed it to produce titanium dioxide products that have lower price points and are safer for human and animal use and consumption.


Segment Overview


By application


The titanium dioxide market can be grouped into the following sub-segments based on application:



  • Paints

  • Coatings

  • Plastics

  • Photo-electrodes

  • Pigments

  • Paper

  • Cosmetics

  • Food additives

  • Others


The paint and coatings sub-segment is expected and projected to have the largest market share. Construction is starting to pick up in the post-pandemic era and so is the production of automobiles.


By end-user


The titanium dioxide market can be divided into the following sub-segments based on end-user:



  • Automotive

  • Personal care

  • Pharmaceutical

  • Food and beverages

  • Construction

  • Others


The automotive sub-segment has the highest market share mainly because the demand for lightweight vehicles is growing and these types of vehicles require large quantities of titanium dioxide.


Regional analysis


The titanium dioxide market can be divided into the following regions:



  • North America

  • Asia-Pacific

  • The European Union

  • Latin America

  • The Middle East and North Africa


The Asia-Pacific region will have the largest market share. The reason being that construction activities are increasing exponentially in China. In fact, construction activities have been accelerating rapidly in all of the Southeast Asian nations.India, especially, has seen a boom in construction activities in recent years, COVID-19 notwithstanding. This has resulted in a huge increase in demand for titanium dioxide.


Many manufacturers of titanium dioxide have to be mindful of the increasingly stringent government regulations in the Asia-Pacific region with regards to the usage of titanium dioxide in construction activities.


The North American market is expected to have one of the highest growth rates. The reason for this is that construction activities in North America are increasing dramatically. However, the increased popularity of smart homes in America and Canada is necessitating the usage of smart construction practices and safer materials. This is driving the increase in demand for titanium dioxide.


The European Union has the second largest market share. What attributes to this is the fact that construction activities and the demand for motor vehicles are starting to pick up in this region. The same is true of the North American region.


Competitive landscape


The titanium dioxide market is very competitive. There are many reasons for this. Two of them are that there are few barriers to entry in this market. Also, the market is very lucrative. Thus, many new companies are entering the market every year. Companies are finding that they can stay competitive and profitable only if they invest heavily in research and development, merge with and acquire other successful companies, or enter into strategic partnerships with other successful companies.


Companies invest in future expansion when they invest heavily in research and development. They are able to develop and market superior products that are safer for humans and animals and have more innovative applications. These products can give these companies a sustainable competitive advantage when marketed correctly.


Companies find that they need to invest in superior and state-of-the-art technologies when they do research and development because they have to make sure that their end products conform to increasingly stringent government policies and regulations. Using better technologies allows them to do this.


Companies increase their resource pools when they merge with and acquire other successful companies. They suddenly find that their manpower, intellectual knowledge, and financial resources increase dramatically. The resulting super companies can then invest heavily in research and development. This allows them to come up with better products.


They already have the manpower and financial resources to market these products well. They find that they create a sustainable competitive advantage when they market these products well. Not only do they get a leg up over the competition but they also are able to solidify their positions in existing markets and successfully enter new markets. In fact, they may be able to displace successful competitors when they enter new markets.


DuPont Inc is a successful American company. It has found that it can become an industry leader by investing heavily in research and development. These efforts have allowed it to market the products that have given it the sustainable competitive advantage needed to be financially successful.


Recent developments


November 2021- Meghmani Organics Limited (MOL) disclosed that the company plans to enter a novel and profitable alternative of White Pigment Titanium Dioxide (TiO2). The firm will build a 33,000 metric tons production plant at a net CAPEX of INR 400 crore at Dahej, Gujarat.
Titanium Dioxide (TiO2) has numerous applications as a bright white pigment in several industries, including Cosmetics, Paper, Dyes, Ink, Plastic, Coating, and paints.
The project will likely be operational by the first quarter of 2024 INR 700 Crores to MOL's topline on a full financial year basis. The company focuses on an EBITDA margin of 25% with healthy return ratios, i.e., ROCE and ROE of 20%+ each. The latest project will be financed by a proper blend of internal accruals and debt.

September 2021 - Apollo Global Management Inc APO.N, a private equity firm, has approached one of the world's largest pigment manufacturers, Tronox Holdings Plc TROX.N, with a cash offer of over USD 4.3 billion.
Apollo made an offer of over USD 27 per share to purchase Stamford, Connecticut-based Tronox. Tronox is reconsidering the bid with the advice of its hired advisory team and has not made any decisions regarding future steps yet.

Tronix entered into a strategic partnership with CRISTAL. The resulting company now leads in terms of titanium dioxide production.

An Australian iron oxide company entered into a strategic partnership with Chemours to distribute titanium dioxide more intensively throughout the Asia-Pacific region.

Huntsman corporation acquired Rockwood Corporation. The acquisition allowed the resulting company to strengthen its existing market position and enter new markets.

A new pigment brand was developed and marketed. This pigment is whiter and shinier than its predecessors were.
Tronix acquires Exxaro to enter new markets easier.


Report overview


The CAGR for the titanium dioxide market is 8.92%. The market was worth USD 21.37 billion in 2020. It should be worth USD 34.47 billion in 2028. The Asia-Pacific region has the highest market share and CAGR due to the increase in construction activities.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2020: USD 21.37 Billion
  • 2030 USD 34.47 Billion
  •   CAGR   8.92%(2022–2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Application, By End Use and By Region
      Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   DuPont (US), Tayca Corporation (Japan), Tronox Limited (US), Evonik Industries (Germany), CRISTAL (Saudi Arabia), Huntsman International LLC. (US), The Chemours Company Chemours (US), Argex Titanium Inc. (North America), Shandong Doguide Group Co., Ltd (China), NL Industries, Inc (US), and Others.
      Key Market Opportunities

  • Lightweight vehicles
  • Increased plastic production
  • Increased demand for paints and costing the construction industry
  •   Key Market Drivers

  • Increased demand for paints in the construction industry
  • The increased demand for lightweight vehicles.


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    Frequently Asked Questions (FAQ) :

    Titanium Dioxide Market size is projected to be worth USD 34.47 Billion by 2028

    Asia-Pacific dominates the market due to increased demands for paints and coatings in the construction industry.

    Uses of titanium dioxide in various end-user industries like pharmaceuticals, cosmetics, paints, plastics, and others is the major driving factor of the market.

    Major players of the global titanium dioxide market include DuPont (US), Tayca Corporation (Japan), Tronox Limited (US), Evonik Industries (Germany), CRISTAL (Saudi Arabia), Huntsman International LLC. (US), The Chemours Company Chemours (US), Argex Titanium Inc. (North America), Shandong Doguide Group Co., Ltd (China), NL Industries, Inc (US), and Others.