Product Code: 64251
The titanium dioxide market is expected to grow at a CAGR of above 6.5% during the forecast period of 2019-2024. The major factors driving the growth of market studied are the increasing demand from mining industry, and increasing demand for use in polymer synthesis. On the flipside, the toxicity of titanium dioxide hampers the growth of the market.
- Mining and metallurgy industry dominated the market in 2018 and is likely to grow during the forecast period with the continuous growth in mining activities.
- The increasing demand for titanium dioxide downstream products, and increasing demand for natural dyes in textile industry, are likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the globe, owing to the growing mining activities in the region, and robust demand fuelling the growth of polymer synthesis and chemicals industry.
Key Market Trends
Paints & Coatings Segment to Dominate the Market Demand
- Titanium dioxide is the most widely used white pigment material in the paints & coatings industry. It efficiently scatters visible light and thereby imparts whiteness, brightness, and opacity when incorporated into a coating, which makes it widely useful in paints & coatings industry.
- Globally, of all the titanium dioxide which is currently being produced, over 55% find its application in paints & coatings industry alone.
- The global paints & coatings industry is experiencing a boom with rapid growth of the building & construction, and automotive end-user industries.
- The global construction industry grew by about 3.5% during 2018. Residential & commercial construction has been increasing significantly across the globe, which is further driving the demand for titanium dioxide for construction applications.
- Asia-Pacific and North America regions have been witnessing strong growth in the residential construction, which is further likely to increase the demand for titanium dioxide for residential application during the forecast period.
- Besides, regions like, Asia-Pacific and Middle East & Africa are experiencing huge domestic as well as foreign investments for setting up industrial unit, hospitals, malls, multiplexes, hospitality industry, and IT sector, which is further expected to add noticeably to the demand for titanium dioxide market.
- Similarly, investments and production in the automotive industry have been increasing in Asia-Pacific region at a significant rate. Moreover, North America and Europe have been investing significantly on innovation & development which is further likely to increase production of new vehicles in the coming years.
- Hence, all such trends in industries, such as construction and automotive, have been increasing the demand for paints & coatings, which is further expected to add to the demand for titanium dioxide market.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share in 2018. With the rising production in industries, such as cosmetics, paints & coatings, and plastics, the consumption of titanium dioxide is projected to increase noticeably during the forecast period.
- The growing investments into the residential and commercial construction in the countries, such as India, China, Philippines, Vietnam, and Indonesia, the market for titanium dioxide are expected to increase in the coming years.
- China has planned numerous airport construction projects, which are currently either in the planning or development phase. Besides, Indian government has planned to construct 100 airports by 2032.
- Indian government has also planned investment target of USD 120.5 billion for developing 27 industrial clusters; this is expected to boost commercial construction in the country.
- Besides, residential construction is also increasing in countries, such as India, Indonesia, Vietnam, and Singapore.
- Automotive production is also increasing in the countries, such as India, Thailand, Vietnam, and Indonesia. Besides, China, the world's largest automotive producer, is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025.
- In addition, India is witnessing investments in the automotive industry. For instance, in 2018, Hyundai planned investment of USD 1 billion in India by 2020. SAIC Motor has also announced to invest USD 500 million in India by 2020.
- Hence, all such trends in the industries, such as automotive and paints & coatings is projected to drive the demand for titanium dioxide from paints & coatings market during the forecast period.
- Asia-Pacific region is also witnessing strong growth in the demand for cosmetic products, which is majorly driven by the influence of western culture leading to increased usage of cosmetic products by teenagers, increased awareness of being presentable with growing women employment, and hygiene awareness, owing to which the production of such products have also been increasing in the region.
- Hence, such trends are likely to drive the demand for titanium dioxide in the region during the forecast period.
The titanium dioxide market is a consolidated market, where few major players hold significant share of the market demand. Some of the major players in the market include The Chemours Company, Tronox Limited, Lomon Billions, Venator Materials PLC (Huntsman Corporation), and KRONOS Worldwide, Inc., amongst others.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Rapidly Increasing Demand for Paints and Coatings
- 4.1.2 Increase in Demand for Lightweight Vehicles in Automobile Industry
- 4.2 Restraints
- 4.2.1 Stringent Environment Regulations Regarding VOC Emissions
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters 5 Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Price Analysis
- 4.6 Trade Analysis
5 MARKET SEGMENTATION
- 5.1 Grade
- 5.1.1 Rutile
- 5.1.2 Anatase
- 5.2 Application
- 5.2.1 Paints and Coatings
- 5.2.2 Plastics
- 5.2.3 Paper and Pulp
- 5.2.4 Cosmetics
- 5.2.5 Other Applications
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 126.96.36.199 China
- 188.8.131.52 India
- 184.108.40.206 Japan
- 220.127.116.11 South Korea
- 18.104.22.168 Rest of Asia-Pacific
- 5.3.2 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 5.3.3 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Rest of Europe
- 5.3.4 South America
- 188.8.131.52 Brazil
- 184.108.40.206 Argentina
- 220.127.116.11 Rest of South America
- 5.3.5 Middle East & Africa
- 18.104.22.168 Saudi Arabia
- 22.214.171.124 South Africa
- 126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Argex Titanium Inc.
- 6.4.2 Evonik Industries AG
- 6.4.3 Grupa Azoty S.A.
- 6.4.4 KRONOS Worldwide Inc.
- 6.4.5 Lomon Billions
- 6.4.6 PRECHEZA a.s.
- 6.4.7 TAYCA
- 6.4.8 The Chemours Company
- 6.4.9 The Kish Company, Inc.
- 6.4.10 Tronox Limited
- 6.4.11 Venator Materials PLC (Huntsman International LLC)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing R&D Activities in Development of Titanium Dioxide Nanoparticles