Titanium Dioxide Market: Asia Pacific Dominated And Had The Largest Revenue Share

Titanium Dioxide Industry Overview

The global titanium dioxide market size is expected to reach USD 26.87 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2021 to 2028. The expanding application scope of titanium dioxide (TiO₂) as specialty coating materials in the automotive industry and photovoltaic systems is likely to fuel the growth of the market during the forecast period.

The paints and coatings industry has been witnessing significant growth in recent years, mainly on account of the increasing consumption in key end-use verticals, including construction, automotive, aerospace, and energy and power. The growing scope of the product as whitening pigments in paints and coatings is expected to have a positive impact on the future growth of the industry.

The growing awareness among consumers of emerging economies such as the BRICS nations regarding personal hygiene and care has led to the considerable growth of the cosmetics industry. The growing consumption of the product as a UV filter and whitening agent in cosmetic goods is expected to drive the overall industry during the forecast period.

The paints and coatings application segment is expected to expand at the highest revenue-based CAGR over the forecast period. The performance attributes of the paints, including weatherability, whiteness, and opacity, play a major role in the quality and effectiveness of paints & coatings.

Titanium Dioxide Market Segmentation

Grand View Research has segmented the global titanium dioxide market on the basis of grade, production process, application, and region:

Based on the Grade Insights, the market is segmented into Anatase, and Rutile.

• The rutile segment led the market and accounted for a revenue share of over 75.0% in 2020. This trend is anticipated to continue during the forecast period. Rutile grade TiO2 is used as a carrier in paint applications for producing white color in plastics and prevents color fading in the paper. The growing construction industry is anticipated to fuel the demand for rutile grade TiO2 during the forecast period.

• The anatase pigment is mainly used in fibers, ceramics, cosmetics, and pharmaceuticals, along with the manufacturing of enamels and welding electrodes. Pure TiO2 contains almost 80% content of anatase by weight with a smaller portion of rutile, 20%. Increasing demand for TiO2-based cosmetics is anticipated to propel the demand for anatase TiO2 during the forecast period.

Based on the Production Process Insights, the market is segmented into Sulfate, and Chloride.

• The sulfate production process segment led the market in 2020 accounting for over 50.0% share of the global revenue. The segment is expected to expand at the fastest CAGR from 2021 to 2028. The sulfate process of producing titanium dioxide is highly suitable for manufacturing paints and coatings. The growing automotive industry has propelled the demand for lightweight paints, which, in turn, has fueled the demand for sulfate-based TiO2.

• Advantages of the chloride process include short processing, easy capacity expansion, high automation degree, relatively low energy consumption, low waste production, and production of higher quality products. Hence, manufacturers utilize this process to reduce the processing time and increase the production of TiO2.

Based on the Application Insights, the market is segmented into Paints & Coatings, Plastics, Pulp & Paper, Cosmetics, and Others.

• The plastics segment is expected to witness significant growth over the forecast period. TiO2 improves the mechanical strength and electrical properties of plastic products. Furthermore, it enhances weathering properties of plastics, along with providing protection from UV light and high temperatures.

• The pulp and paper segment is also one of the key end-users of TiO2 owing to its usage as a filler in pulp and paper production. The product improves the brightness, opacity, color, porosity, smoothness, gloss, and printability of paper. The product has considerable usage in the production of decorative foils and decor and magazine papers used in various printing applications.

Titanium Dioxide Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Order a free sample PDF of the Titanium Dioxide Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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