H2 2023: In H2 2023, the price trend of Titanium Dioxide was volatile in North America. In the USA, the pricing dynamics of Titanium Dioxide experienced significant volatility during the early part of Q3 2023. This downturn was attributed to decreased inquiries from the downstream Paints and Coatings sector. Furthermore, manufacturers responded to sluggish conditions in the Chinese market by reducing prices for importing nations like Thailand, USA, and Brazil. Downstream manufacturing firms operated under pressure due to tepid demand from the terminal market, although Titanium Dioxide availability remained adequate for meeting demand from the downstream Paints & Coating industries. Towards the end of the quarter, active demand from the downstream construction sector bolstered market sentiments, leading downstream manufacturers to increase procurement of Titanium Dioxide. In the first half of Q4 2023, there was a slight improvement in inquiries from downstream Paints and Coating industries, leading to bullish market sentiments. Moreover, supply-side pressure was observed due to limited availability of finished goods and manufacturers operating at reduced capacities. Conversely, Titanium Dioxide prices began to follow a declining trend from November 2023. The decrease in demand from the downstream Paints & Coating sector also influenced market dynamics.
H1 2023: In H1 2023, the major producers of Titanium Dioxide on a global level were The Chemours Company, Tronox Holdings plc, and Lomon Billions Group. Based on production capacity, The Chemours Company, was leading producer of Titanium Dioxide market in H1 2023. In January 2023, Meghmani Organics Limited (MOL), one of the prominent chemical producers of India, publicly announced about greenfield expansion of phase one of titanium oxide plant at Dahej, India. This plant has a production capacity of 16.5 thousand tonnes of titanium dioxide. The company aims to double its production capacity to reach approximately 33 thousand tonnes under phase- 2, which will be commissioned in Q3 2023. In H1 2023, China witnessed a healthy demand for titanium dioxide. China's economic activity performed well during H1 2023. Sulfuric acid high prices cost support was also able to drive the high prices for titanium dioxide. On the supply side, the availability of titanium dioxide was limited in China as production and operations were halted for some time due to the Lunar New Year holidays. However, in the U.S. market, titanium dioxide prices witnessed a southward trend throughout the period of H1 2023. Titanium dioxide costs fell as the demand of the product from the downstream industries paint and coatings industry was hazy. However, the supply of titanium dioxide was lucrative in the US market.
The global Titanium Dioxide market has reached approximately 5440 thousand tonnes in 2023 and is expected to grow at a CAGR of 5.08% during the forecast period until 2034. Titanium Dioxide is a white powder with the chemical formula TiO₂. It is water-insoluble and commonly used as a white pigment. Ilmenite ore is the main natural source of titanium dioxide which contains 45–60% Titanium Dioxide. Pure Titanium Dioxide can be synthesized from this ore using the sulfate or chloride processes. Other ores from which Titanium Dioxide can be extracted are anatase and rutile ores. The Chloride process involves treating the ore with chlorine and carbon in the chloride process, resulting in titanium tetrachloride, a volatile liquid that is further refined through distillation. Titanium tetrachloride is allowed to react with oxygen and yield Titanium Dioxide as the final product. The other process, i.e., the sulfate process, involves exposing ilmenite to sulphuric acid and produce iron(II) sulfate pentahydrate and titanium oxygen sulfate (TiOSO4). The iron component is removed, and the titanium oxygen sulfate is further refined to produce Titanium Dioxide.
Titanium Dioxide is the most widely used white pigment in the world. It is utilized in nabufacturing various commodities such as paints, coatings, sheets, inks, toothpaste, face powder, sunscreen, and food coloring because of its high refractive index. In the food industry, Titanium Dioxide is employed as a pigment as well and is found in chocolates to enhance their texture. Titanium Dioxide is readily used in cosmetics as well as it tends to display UV absorption properties.
Growing demand for paints and coating is anticipated to be the primary driver for the expansion of the Titanium Dioxide market. Due to its light-scattering properties, it provides a vivid color to the paint. Furthermore, Titanium dioxide enhances the opacity of the paints and makes them quite glossy. Furthermore, paints with titanium dioxide as an ingredient are highly suitable for outdoor applications. The paints and coatings industry consumed approximately 40% of the global Titanium Dioxide in 2023 and is anticipated to rise further in the forecast period. The rising demand for titanium dioxide is expected to be influenced by rising needs for paints and pigments across a range of industries, including personal care, pharmaceuticals, and construction. The Titanium Dioxide market consumption is likely to reach approximately 9300 thousand tonnes in 2034.
Based on demand by region, Asia Pacific dominates the global Titanium Dioxide market and consumed approximately 31% of the total production in 2023. Due to urbanization, the demand for electric vehicles and automobiles is expected to fuel the demand for Titanium Dioxide in Asia Pacific region in the forecast period. In automotive coatings, titanium dioxide functions as a dispersant and offers gloss persistence on the surface of the vehicles. Asia Pacific also leads in terms of producing titanium dioxide. Currently, China is the largest producer of Titanium Dioxide on a global level.
Based on the end-user industry, the Titanium Dioxide market is segmented into sectors such as Paints & Coatings, Plastic, Paper, and Others. The paints & Coatings industry is the major consumer of Titanium Dioxide. Other prominent consumers of Titanium Dioxide are the Plastic Industry and Paper Industry.
Significant companies producing the Global Titanium Dioxide are The Chemours Company, Tronox Holdings Plc, Lomon Billions Group, Venator Materials Plc, KRONOS, The Louisiana Pigment Company, LP (KRONOS-Huntsman/Tioxide JV), The Kerala Minerals & Metals Limited, Indian Rare Earths Limited (IREL), and Cochin Minerals & Rutile Ltd (CMRL).
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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The objective of the Study:
•To assess the demand-supply scenario of Titanium Dioxide, which covers the production, demand, and supply of Titanium Dioxide around the globe.
•To analyze and forecast the market size of Titanium Dioxide.
•To classify and forecast the Global Titanium Dioxide market based on end-use and regional distribution.
•To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Titanium Dioxide market.
To extract data for the Global Titanium Dioxide market, primary research surveys were conducted with Titanium Dioxide manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Titanium Dioxide market over the coming years.
ChemAnalyst calculated Titanium Dioxide demand across the globe by analyzing the volume of Titanium Dioxide consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Titanium Dioxide manufacturers and other stakeholders
• Organizations, forums and alliances related to Titanium Dioxide distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Titanium Dioxide manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Titanium Dioxide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
5440 thousand tonnes
Market size Volume by 2034
9300 thousand tonnes
Growth Rate
CAGR of 5.08% from 2024 to 2034
Base year
2023
Estimated year
2034
Historical Data
2015 – 2022
Forecast period
2024 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 202 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Capacity by Process, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Paints & Coatings, Plastic, Paper, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Titanium Dioxide market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Titanium Dioxide.
3. Capacity By Location
To better understand the regional supply of Titanium Dioxide by analyzing its manufacturers' location-based capacity.
4. Capacity By Process
To evaluate the demand of various methods and their capacities while looking for the future growth of each process.
5. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
6. Production By Company [Quarterly Update]
Study the historical annual production of Titanium Dioxide by the leading players and forecast how it will grow in the coming years.
7. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Paints & Coatings, Plastic, Paper, and Others) are creating a market and the forecast for the growth of the Titanium Dioxide market.
8. Demand by Region
Analyzing the change in demand of Titanium Dioxide in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
9. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Titanium Dioxide. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
10. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Titanium Dioxide.
11. Company Share
Figure out what proportion of the market share of Titanium Dioxide is currently held by leading players across the globe.
12. Country-wise Export
Get details about quantity of Titanium Dioxide exported by major countries.
13. Country-wise Import
Get details about quantity of Titanium Dioxide imported by major countries.
14. Manufacturing Process
Discover insights into the intricate manufacturing process of Titanium Dioxide.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected global market size of Titanium Dioxide in terms of volume for 2034?
Ans:
The global market size of Titanium Dioxide is expected to reach approximately 9300 thousand tonnes by 2034 with an expected CAGR of 5.08%.
Q2.
What are the major end-use industries of Titanium Dioxide?
Ans:
Titanium Dioxide is used in a wide range of end use industries including Paints & Coatings, Plastic, Paper, and Others.
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