The market crossed US$ 22.0 billion mark in 2022 and is expected to hit US$ 35.0 billion by 2030, recording a CAGR of approximately 6.0% during the forecast period.
Increasing demand for titanium dioxide among the motor vehicle manufacturers
Globally over 79 countries have restricted the use of lead oxide in paint due to the toxic nature of lead. As a result, the demand for pigment-grade titanium dioxide in the automobile industry as a white pigment has significantly grown. Titanium dioxide gives a unique brightness and resilience to all vehicles, finding its way onto cars, trucks, busses, cruise ships, trains and aeroplanes. In addition to paint, titanium dioxide also plays an essential role in the plastic components of cars. It can be used to make plastic components more durable and weather resistant, and also it can be added to lend colour, opacity and brightness.
Within the report, the market is segmented into grade, process, application, and geography. By grade, the market is further segmented into rutile and anatase. Based on process, the market is divided into sulfate process and chloride process. Based on application, the market is divided into paints & coating, plastics, pulp and paper, cosmetics, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increased utilization as well as demand for titanium dioxide
Titanium dioxide, also called titania (TiO2), is a poorly soluble white inorganic non-flammable metal oxide of titanium sourced from rutile and anatase. These naturally occurring oxide forms are mined and provided as a source for commercial titanium. Titanium dioxide is widely used as a pigment for lending whiteness and opacity. Its ultra-white color, highly refractive and UV-resistant properties make titanium dioxide extremely popular in both the industrial and consumer sectors. Titanium dioxide possesses different qualities depending on whether it is produced as nanomaterial-grade or pigment-grade. Both forms are tasteless, odorless and insoluble. Therefore, the titanium dioxide demand is projected to fuel, owing to the properties of titanium dioxide.s
Rising adoption in various industries is one of the major factors accelerating market growth
Titanium dioxide (TiO2) is used as an opacifying and bleaching agent in porcelain enamels, adding hardness, brightness, and acid resistance. Titanium dioxide is also used in cosmetic products such as skin care products and sunscreen lotions. The construction industry is another significant end-use sector where titanium dioxide is used in paints. The product is a dispersive agent in interior and exterior architectural paints with maximum gloss retention and chalk resistance. Moreover, due to its bright whiteness, titanium dioxide is used in products such as paints, coatings, inks, papers, face powder, toothpaste, and food coloring.
Recent strategic developments in the titanium dioxide market
The titanium dioxide market has undergone several significant developments, and a few of these have been mentioned below:
The titanium dioxide market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Tronox Holdings Plc., The Chemours Company, Evonik Industries AG, INEOS, and Venator Materials Plc. are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of:
Companies profiled
- Tronox Holdings Plc.
- The Chemours Company
- Evonik Industries AG
- INEOS
- Venator Materials Plc.