Global Titanium Dioxide Market Outlook
The significant applications and usages of titanium dioxide have added to the lucrativeness of the global titanium dioxide market in 2018. According to the latest report from Grand View Research, the global titanium dioxide (TiO2) market size was valued at around US$ 13.2 billion in 2016. The market is expected to witness growth at a CAGR of over 8.9% from 2016 to 2025, owing to increasing demand from end-user industries. Usage of the product as pigments in paints & coatings formulation is expected to fuel industry growth over the next few years.
Within the global titanium dioxide market, the paint and coatings segments are expected to remain the largest market. Increasing demand for architectural and industrial coatings in the developing countries of Asia Pacific, particularly China and India, has registered huge demand for titanium dioxide in the paint and coatings industry, which would further boost the growth for this segment over the next few years. While Asia Pacific is also expected to remain the largest market due to the growth of end-use industries, such as paint and coatings, plastics, and paper.
China is the World’s Largest Titanium Dioxide Supplier，
China has become the world’s largest titanium dioxide supplier since 2009. During 2013-2016, the domestic titanium dioxide industry has registered a rapid growth as supported by the increase in demand for the products both at domestically and internationally. Today, China produces over 2.6 million tones of titanium dioxide per year, and exports a huge amount of its titanium dioxide products to Europe, the US and other Asia Pacific countries.
China is not only the world’s largest titanium dioxide producer but also the largest exporter and consumer of titanium dioxide. According to the recent report from Tranalysis, China exported over 750,000 tons of titanium dioxide to the global market in 2016, maintaining its title of the world’s largest titanium dioxide exporter once again. China has also shifted its main titanium dioxide export destinations from European and North American to the emerging markets in Asia Pacific, Middle East, and South America over the recent years.
China’s government is currently working on its plan to eliminate outmoded capacities of titanium dioxide and strengthen environmental protection measurements. Small and middle-sized enterprises, with a production capacity under 50,000t/a, are the ones to suffer. They mostly get merged or withdrawn from the market. Without their production capacity of about 500,000 tonnes yearly, the domestic output might shrink about 20%. However, the growing demand from overseas is expected to continue fueling the titanium dioxide market growth in China in the near future.
Titanium Dioxide Market by Grade (Rutile, Anatase), Application (Paints & Coatings, Pulp & Paper, Plastics, Cosmetics, Ink), and Region - Global Forecast To 2021
The global titanium dioxide market is projected to reach USD 14.12 billion by 2021, at a CAGR of 5.8% from 2016 to 2021. The growth of the market is primarily driven by the increasing population, coupled with the growing demand for titanium dioxide from various applications, such as paints & coatings, pulp & paper, cosmetics, ink, and plastics, among others. The factors restraining the growth of this market are environmental regulations and volatile prices of raw materials.
“The rutile segment is projected to lead the grade types of the global titanium dioxide market during the forecast period.”
The rutile segment is projected to lead the grade type of the global titanium dioxide market from 2016 to 2021. Rutile is the most stable form. Rutile titanium dioxide has a higher refractive index, higher specific gravity, and greater chemical stability, and it better suits the requirement of key applications such as paints & coatings and plastics.
“The paints & coatings application segment is projected to lead the global titanium dioxide market during the forecast period.”
The paints & coatings application segment is projected to lead the global titanium dioxide market from 2016 to 2021. The demand for titanium dioxide in paints & coatings application is mainly due to the growing construction and automobile industries. Moreover, titanium dioxide, when used in paints and coatings, ensures the longevity of paints and continued protection of the substrate. Titanium dioxide is used in various paints & coatings applications to provide aesthetic appeal, opacity, and durability.
The Asia-Pacific region is projected to be the largest market for titanium dioxide during the forecast period.”
The Asia-Pacific region is projected to be the largest market for titanium dioxide across the globe. Increasing population and rising per capita income are the factors driving the demand for titanium dioxide in the Asia-Pacific region. With economic contraction and saturation in the European and North American regions, the demand for titanium dioxide has shifted to the Asia-Pacific region. Moreover, large consumer market and increasing disposable income in India and China are driving the growth of the titanium dioxide market.
Breakdown of profiles of primary interviews for the report:
-By Company Type:
Tier 1 - 54%
Tier 2 - 21%
Tier 3 - 25%
-By Designation:
C Level - 21%
Manager Level - 23%
Others - 56%
-By Region:
Asia-Pacific - 41%
Europe - 19%
North America - 11%, and RoW - 29%
