Summary

The titanium dioxide market size is projected to grow from USD 20.72 billion in 2024 and is projected to reach USD 24.41 billion by 2029, at a CAGR of 3.33%. Titanium dioxide is an oxide of titanium found naturally in a variety of mineral sands. It is the most important white inorganic pigment, with excellent thermal stability. It also has outstanding light scattering qualities and is employed in applications that demand white opacity and brightness. Titanium dioxide can be found in two crystal structures such as anatase and rutile. Rutile pigments are selected over anatase pigments because they are more stable, durable, efficient, and have a high absorption capacity. Titanium dioxide is utilized in numerous sectors and applications, including paints and coatings, paper, plastics, inks, and others. Titanium dioxide pigments are most extensively used for paints and coatings because they efficiently scatter visible light, imparting whiteness, brightness, and opacity to the coating. The constant rise of the construction industry, as well as the increased need for lightweight vehicles in the automotive industry, are expected to boost the market for titanium dioxide in paint and coating applications. Opportunities in the titanium dioxide market include rising demand for ultrafine titanium dioxide and increased use in photocatalytic applications. “Rutile is projected to be the largest segment by grade in Titanium Dioxide market” Rutile is the largest grade segment in the Titanium Dioxide market. Rutile has a more compact and stable structure than anatase does. Rutile grade titanium dioxide has outstanding optical qualities, including improved dispersion, coloring, opacity, weather resistance, anti-yellowing, and a bluer undertone. Rutile titanium dioxide is preferred in paints and coatings because it provides more color strength and opacity than anatase-grade titanium dioxide. Because of its high refractive index, it is more suited for exterior and interface applications; thus, these pigments have an improved capacity to scatter light in paint film. “Sulfate is projected to be the largest segment by process in Titanium Dioxide market” In the Titanium Dioxide market, sulfate is the largest process category. The sulfate process is a batch method for extracting titanium dioxide from ilmenite or titanium slag. The sulfate process for producing titanium dioxide is widely used in the APAC region, particularly in China. The sulfate process is more cost-effective because it uses lower-grade and less expensive ores and simpler titanium dioxide manufacturing technologies. Sulfate manufacturing has a significant cost, and a large amount of waste material is generated during the process technology, which also involves pollution control costs. Due of environmental concerns and end-use requirements for high-quality titanium dioxide, global producers are turning their focus to the chloride process. “Paints & Coating is the largest segment by application in Titanium Dioxide market during forecast region.” Titanium dioxide is an important white pigment used in the paint and coating industries. When employed in a paint and coating system, it extends the life of the paint and protects the substrate. Titanium dioxide is used in a variety of paint and coating applications to improve aesthetics, opacity, and durability. It is utilized for a variety of architectural and industrial coating applications. Pigments are used in architectural coatings such paints, stains, lacquers, primers, and clear coats. They are utilized in industrial coating applications such as automotive, coil, powder, and others. The quickly developing housing and construction sector, increasing GDP, continuous rapid urbanization, and increased disposable income propels the paints and coatings business, which further fuels the need for titanium dioxide. ““APAC accounts for the largest share in Titanium Dioxide market by region” APAC had the largest Titanium Dioxide market in 2023. The region's overall expansion is driven by increased investments in infrastructure development projects, expanding urbanization, improving living standards, a robust automotive sector, and strong economic growth. The growing economies of countries such as China and India draw fresh investments from global manufacturers. APAC is the world's largest market for paints and coatings, owing to China and India's rapidly growing populations and urbanization. China is the world's largest producer and consumer of paints and coatings, with numerous major manufacturers investing in the nation to construct new manufacturing facilities. Paints and coatings are the largest application category for titanium dioxide, and it is expected to rise in tandem with the expansion of paint and coating applications in the APAC region. China not only consumes titanium dioxide, but also exports it to India, Vietnam, Brazil, Spain, South Korea, Japan, and other countries. Lomon Billions Group, the world's third-largest maker of titanium dioxide, operates production units in China. Aside from Lomon Billions, TAYCA CORPORATION (Japan), ILUKA RESOURCES (Australia), ISHIHARA SANGYO KAISHA, LTD. (Japan), and numerous small and medium-sized firms (SMEs) manufacture titanium dioxide in the APAC region. Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and the information gathered through secondary research. The break-up of primary interviews is given below: By Company Type: Tier 1: 25%, Tier 2: 42%, and Tier 3: 33% By Designation: C-level Executives: 28%, Directors: 43%, and Others: 29% By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, South America: 10%, Middle East & Africa 20% Notes: Others include sales, marketing, and product managers. Tier 1: >USD 1 Billion; Tier 2: USD 500 million–1 Billion; and Tier 3:

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Table of Contents

1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 MARKET DEFINITION 23
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED 25
1.3.2 INCLUSIONS & EXCLUSIONS 25
1.3.3 YEARS CONSIDERED 26
1.3.4 CURRENCY CONSIDERED 26
1.3.5 UNITS CONSIDERED 27
1.4 STAKEHOLDERS 27
1.5 SUMMARY OF CHANGES 27
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
2.1.1 SECONDARY DATA 29
2.1.1.1 Key data from secondary sources 29
2.1.2 PRIMARY DATA 29
2.1.2.1 Key data from primary sources 30
2.1.2.2 Key industry insights 30
2.1.2.3 Breakdown of interviews with experts 31
2.2 MARKET SIZE ESTIMATION 31
2.3 DATA TRIANGULATION 34
2.4 RESEARCH ASSUMPTIONS 35
2.5 RISKS ASSOCIATED WITH TITANIUM DIOXIDE MARKET 35
2.6 LIMITATIONS 36
2.7 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST 36
3 EXECUTIVE SUMMARY 37
4 PREMIUM INSIGHTS 41
4.1 SIGNIFICANT OPPORTUNITIES FOR PLAYERS IN TITANIUM DIOXIDE MARKET 41
4.2 TITANIUM DIOXIDE MARKET IN ASIA PACIFIC, BY APPLICATION, GRADE, AND COUNTRY, 2023 42
4.3 TITANIUM DIOXIDE MARKET, BY GRADE 42
4.4 TITANIUM DIOXIDE MARKET, BY PROCESS 43
4.5 TITANIUM DIOXIDE MARKET, BY APPLICATION 43
4.6 TITANIUM DIOXIDE MARKET, BY COUNTRY 44
 
5 MARKET OVERVIEW 45
5.1 INTRODUCTION 45
5.1.1 DRIVERS 46
5.1.1.1 Thriving construction sector worldwide 46
5.1.1.2 Growing demand for do-it-yourself paint & coating solutions 48
5.1.1.3 Surging demand for lightweight vehicles 49
5.1.1.4 Booming cosmetics and personal care industries 50
5.1.1.5 Increasing use of titanium dioxide in plastics and packaging industries 50
5.1.2 RESTRAINTS 50
5.1.2.1 Stringent environmental policies of governments regarding production of titanium dioxide 50
5.1.3 OPPORTUNITY 51
5.1.3.1 High adoption of ultrafine particles of titanium dioxide in cosmetics and construction industries 51
5.1.3.2 Increased use of titanium dioxide as photocatalyst 51
5.1.3.3 Potential use in advancing sustainable packaging and printing solutions 51
5.1.4 CHALLENGES 52
5.1.4.1 Concerns about safety of titanium dioxide 52
5.1.4.2 Volatility in cost of titanium dioxide 52
6 INDUSTRY TRENDS 53
6.1 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESSES 53
6.2 PRICING ANALYSIS 54
6.2.1 INDICATIVE PRICE TREND OF KEY PLAYERS, BY APPLICATION 54
6.2.2 AVERAGE SELLING PRICE TREND OF TITANIUM DIOXIDE, BY REGION, 2022–2029 55
6.2.3 AVERAGE SELLING PRICE TREND OF TITANIUM DIOXIDE, BY REGION 55
6.3 VALUE CHAIN ANALYSIS 56
6.3.1 RAW MATERIAL SUPPLIERS 57
6.3.2 MANUFACTURERS 57
6.3.3 DISTRIBUTORS 57
6.3.4 END-USE SECTORS 58
6.4 ECOSYSTEM ANALYSIS 58
6.5 IMPACT OF GEN AI ON PAINTS & COATINGS MARKET 60
6.6 TECHNOLOGY ANALYSIS 61
6.6.1 KEY TECHNOLOGIES 61
6.6.1.1 Method of manufacturing titanium dioxide using chlorite process 61
6.6.1.2 Method of manufacturing titanium dioxide using sulfate process 62
6.6.1.3 Surface treatment of titanium dioxide 63
 
6.6.2 COMPLEMENTARY TECHNOLOGIES 63
6.6.2.1 Dye-Sensitized Solar Cells (DSSC) 63
6.6.2.2 Nanotechnology 63
6.7 PATENT ANALYSIS 64
6.7.1 INTRODUCTION 64
6.7.2 METHODOLOGY 64
6.7.3 PATENT ANALYSIS (2014–2023) 64
6.8 TRADE ANALYSIS 68
6.8.1 EXPORT DATA (HS CODE 282300) 68
6.8.2 IMPORT DATA (HS CODE 282300) 68
6.8.3 EXPORT DATA (HS CODE 320611) 70
6.8.4 EXPORT DATA (HS CODE 320611) 71
6.9 KEY CONFERENCES & EVENTS, 2024–2025 74
6.10 REGULATORY LANDSCAPE 75
6.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
6.10.2 REGULATIONS RELATED TO TITANIUM DIOXIDE INDUSTRY 79
6.10.2.1 REACH – ECHA Regulation 79
6.10.3 CODE OF FEDERAL REGULATION (CFR) 80
6.10.4 REGULATION ON USE OF TITANIUM DIOXIDE IN SUNSCREENS 80
6.10.5 REGULATION ON USE OF TITANIUM DIOXIDE IN FOOD 80
6.10.6 REGULATION ON USE OF TITANIUM DIOXIDE IN PHARMACEUTICALS 80
6.11 PORTER’S FIVE FORCES ANALYSIS 81
6.11.1 BARGAINING POWER OF SUPPLIERS 82
6.11.2 BARGAINING POWER OF BUYERS 82
6.11.3 INTENSITY OF COMPETITIVE RIVALRY 82
6.11.4 THREAT OF NEW ENTRANTS 83
6.11.5 THREAT OF SUBSTITUTES 83
6.12 KEY STAKEHOLDERS & BUYING CRITERIA 83
6.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 83
6.12.2 BUYING CRITERIA 84
6.13 CASE STUDY ANALYSIS 85
6.13.1 UTILIZATION OF INNOVATIVE NANO TITANIUM PIGMENTS IN COSMETICS INDUSTRY 85
6.13.2 USE OF TITANIUM DIOXIDE AS PHOTOCATALYST TO PREVENT AIR POLLUTION 85
6.13.3 TITANIUM DIOXIDE – PH 86
6.14 MACROECONOMIC ANALYSIS 86
6.14.1 INTRODUCTION 86
6.14.2 GDP TRENDS AND FORECASTS 86
6.14.3 CONTRIBUTION OF CONSTRUCTION INDUSTRY TO GDP 87
6.14.4 GLOBAL AUTOMOBILE PRODUCTION AND GROWTH 88
6.14.5 ILMENITE MINE PRODUCTION AND RESERVES 90
6.14.6 RUTILE MINE PRODUCTION AND RESERVES 90
6.15 CONSTRUCTION INDUSTRY INVESTMENT & FUNDING SCENARIO 91
7 TITANIUM DIOXIDE MARKET, BY GRADE 92
7.1 INTRODUCTION 93
7.2 RUTILE 96
7.2.1 GROWING APPLICATION IN PAINTS & COATINGS FOR SCATTERING LIGHT IN PAINT FILMS 96
7.3 ANATASE 96
7.3.1 INCREASING UTILIZATION OF ANATASE-GRADE TITANIUM DIOXIDE IN PHOTOCATALYTIC APPLICATIONS 96
8 TITANIUM DIOXIDE MARKET, BY PROCESS 97
8.1 INTRODUCTION 98
8.2 CHLORIDE 100
8.2.1 REQUIREMENT OF HIGH-QUALITY TITANIUM DIOXIDE 100
8.3 SULFATE 101
8.3.1 COST-EFFECTIVE PROCESSING OF LOWER-GRADE ORES 101
9 TITANIUM DIOXIDE MARKET, BY APPLICATION 102
9.1 INTRODUCTION 103
9.2 PAINTS & COATINGS 105
9.2.1 INCREASING USE OF TITANIUM DIOXIDE IN PAINTS & COATINGS 105
9.3 PLASTICS 106
9.3.1 ENHANCED PERFORMANCE OF PLASTICS 106
9.4 PAPER 107
9.4.1 INCREASED DEMAND FOR DECORATIVE PAPERS 107
9.5 INK 108
9.5.1 CONSIDERABLE INCREASE IN DEMAND FROM ASIA PACIFIC 108
9.6 OTHER APPLICATIONS 108
10 TITANIUM DIOXIDE MARKET, BY REGION 109
10.1 INTRODUCTION 110
10.2 ASIA PACIFIC 112
10.2.1 CHINA 118
10.2.1.1 Increase in demand from paints & coatings industry 118
10.2.2 INDIA 120
10.2.2.1 Make in India initiative to drive demand for titanium dioxide-infused coatings for industrial applications 120
10.2.3 JAPAN 123
10.2.3.1 Increased demand for titanium dioxide pigments for automotive coatings 123
10.2.4 SOUTH KOREA 125
10.2.4.1 Increasing applications in paints & coatings 125
10.2.5 AUSTRALIA 126
10.2.5.1 High feedstock availability for manufacturing titanium dioxide 126
10.2.6 REST OF ASIA PACIFIC 128
10.3 NORTH AMERICA 130
10.3.1 US 135
10.3.1.1 Growing use in construction and cosmetics sectors 135
10.3.2 CANADA 137
10.3.2.1 Growth of construction sector driving demand 137
10.3.3 MEXICO 139
10.3.3.1 Rising demand for paints & coatings in residential segment 139
10.4 EUROPE 140
10.4.1 GERMANY 146
10.4.1.1 Declining construction industry 146
10.4.2 UK 148
10.4.2.1 Significant increase in use of decorative paints & coatings 148
10.4.3 FRANCE 150
10.4.3.1 Increasing usage in paints & coatings 150
10.4.4 RUSSIA 152
10.4.4.1 Steady development of construction sector 152
10.4.5 ITALY 154
10.4.5.1 Rising investments in construction industry 154
10.4.6 REST OF EUROPE 156
10.5 MIDDLE EAST & AFRICA 158
10.5.1 GCC COUNTRIES 163
10.5.1.1 Saudi Arabia 164
10.5.1.1.1 Saudi Vision 2030 vital in driving market 164
10.5.1.2 UAE 166
10.5.1.2.1 Government initiatives to drive market 166
10.5.1.3 Rest of GCC countries 168
10.5.2 SOUTH AFRICA 170
10.5.2.1 Demand for high titanium content feedstocks 170
10.5.3 REST OF MIDDLE EAST & AFRICA 172
10.6 SOUTH AMERICA 174
10.6.1 BRAZIL 178
10.6.1.1 Growing paints & coatings sector 178
10.6.2 ARGENTINA 180
10.6.2.1 Investments in small-scale infrastructure projects 180
10.6.3 REST OF SOUTH AMERICA 182
 
11 COMPETITIVE LANDSCAPE 184
11.1 OVERVIEW 184
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 184
11.3 MARKET SHARE ANALYSIS (2023) 186
11.4 REVENUE ANALYSIS 188
11.5 COMPANY VALUATION & FINANCIAL METRICS 189
11.6 BRAND/PRODUCT COMPARISON 191
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 192
11.7.1 STARS 192
11.7.2 EMERGING LEADERS 192
11.7.3 PERVASIVE PLAYERS 192
11.7.4 PARTICIPANTS 192
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 194
11.7.5.1 Company footprint 194
11.7.5.2 Type footprint 195
11.7.5.3 Type footprint 196
11.7.5.4 Application footprint 196
11.7.5.5 Region footprint 197
11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 198
11.8.1 PROGRESSIVE COMPANIES 198
11.8.2 RESPONSIVE COMPANIES 198
11.8.3 DYNAMIC COMPANIES 198
11.8.4 STARTING BLOCKS 198
11.8.5 TITANIUM DIOXIDE MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES, 2023 200
11.8.5.1 Detailed list of startups/SMEs 200
11.8.5.2 Competitive benchmarking of key startups/SMEs 200
11.9 COMPETITIVE SCENARIO 202
11.9.1 PRODUCT LAUNCHES 202
11.9.2 DEALS 203
11.9.3 EXPANSIONS 205
11.9.4 OTHER DEVELOPMENTS 207
12 COMPANY PROFILES 208
12.1 KEY PLAYERS 208
12.1.1 THE CHEMOURS COMPANY 208
12.1.1.1 Business overview 208
12.1.1.2 Products offered 209
12.1.1.3 Recent developments 212
12.1.1.3.1 Product launches 212
12.1.1.3.2 Deals 212
12.1.1.3.3 Expansions 213
12.1.1.4 MnM view 213
12.1.1.4.1 Right to win 213
12.1.1.4.2 Strategic choices 214
12.1.1.4.3 Weaknesses and competitive threats 214
12.1.2 TRONOX HOLDINGS PLC 215
12.1.2.1 Business overview 215
12.1.2.2 Products offered 216
12.1.2.3 Recent developments 218
12.1.2.3.1 Deals 218
12.1.2.4 MnM view 219
12.1.2.4.1 Right to win 219
12.1.2.4.2 Strategic choices 219
12.1.2.4.3 Weaknesses and competitive threats 220
12.1.3 LB GROUP 221
12.1.3.1 Business overview 221
12.1.3.2 Products offered 222
12.1.3.3 Recent developments 225
12.1.3.3.1 Deals 225
12.1.3.3.2 Expansions 226
12.1.3.4 MnM view 227
12.1.3.4.1 Right to win 227
12.1.3.4.2 Strategic choices 227
12.1.3.4.3 Weaknesses and competitive threats 228
12.1.4 KRONOS WORLDWIDE, INC. 229
12.1.4.1 Business overview 229
12.1.4.2 Products offered 231
12.1.4.3 Recent developments 233
12.1.4.3.1 Deals 233
12.1.4.4 MnM view 233
12.1.4.4.1 Right to win 233
12.1.4.4.2 Strategic choices 234
12.1.4.4.3 Weaknesses and competitive threats 234
12.1.5 VENATOR MATERIALS PLC 235
12.1.5.1 Business overview 235
12.1.5.2 Products offered 236
12.1.5.3 Recent developments 237
12.1.5.3.1 Deals 237
12.1.5.3.2 Other developments 238
12.1.5.4 MnM view 238
12.1.5.4.1 Right to win 238
12.1.5.4.2 Strategic choices 238
12.1.5.4.3 Weaknesses and competitive threats 239
12.1.6 INEOS GROUP LIMITED 240
12.1.6.1 Business overview 240
12.1.6.2 Products offered 241
12.1.6.3 Recent developments 243
12.1.6.3.1 Deals 243
12.1.6.4 MnM view 243
12.1.6.4.1 Right to win 243
12.1.6.4.2 Strategic choices 244
12.1.6.4.3 Weaknesses and competitive threats 244
12.1.7 CNNC HUAYUAN TITANIUM DIOXIDE CO., LTD. 245
12.1.7.1 Business overview 245
12.1.7.2 Products offered 246
12.1.7.3 Recent developments 248
12.1.7.3.1 Deals 248
12.1.7.3.2 Other developments 248
12.1.7.4 MnM view 249
12.1.7.4.1 Right to win 249
12.1.7.4.2 Strategic choices 249
12.1.7.4.3 Weaknesses and competitive threats 249
12.1.8 CINKARNA CELJE D.D. 250
12.1.8.1 Business overview 250
12.1.8.2 Products offered 251
12.1.8.3 MnM view 253
12.1.9 EVONIK INDUSTRIES AG 254
12.1.9.1 Business overview 254
12.1.9.2 Products offered 255
12.1.9.3 MnM view 257
12.1.10 TAYCA CORPORATION 258
12.1.10.1 Business overview 258
12.1.10.2 Products offered 259
12.1.10.3 MnM view 260
12.2 OTHER PLAYERS 261
12.2.1 TITANOS GROUP 261
12.2.2 GPRO TITANIUM INDUSTRY CO., LTD. 261
12.2.3 GUANGDONG HUIYUN TITANIUM CO., LTD. 262
12.2.4 SHANDONG JINHAI TITANIUM RESOURCES TECHNOLOGY CO., LTD. 263
12.2.5 KUMYANG CO., LTD 264
12.2.6 TRAVANCORE TITANIUM PRODUCTS LTD. 265
12.2.7 PRECHEZA A.S. 266
12.2.8 THE KISH COMPANY, INC. 267
12.2.9 MEGHMANI ORGANICS LTD. 268
12.2.10 THE KERALA MINERALS & METALS LIMITED 269
12.2.11 TOR MINERALS 269
12.2.12 KUNCAI 270
12.2.13 DAWN GROUP 271
12.2.14 QIANJIANG FANGYUAN TITANIUM INDUSTRY CO., LTD. 272
12.2.15 GUANGXI JINMAO TITANIUM INDUSTRY 273
13 ADJACENT & RELATED MARKET 274
13.1 INTRODUCTION 274
13.2 LIMITATIONS 274
13.3 PAINTS & COATINGS MARKET 275
13.3.1 MARKET DEFINITION 275
13.3.2 MARKET OVERVIEW 275
14 APPENDIX 278
14.1 DISCUSSION GUIDE 278
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 281
14.3 AVAILABLE CUSTOMIZATIONS 283
14.4 RELATED REPORTS 283
14.5 AUTHOR DETAILS 284