Global Titanium Dioxide (TiO2) Market to 2030: Rising Demand for Titanium Dioxide as Food Additives and Paints & Coatings Fuel the Sector

DUBLIN, March 31, 2023 /PRNewswire/ -- The "Global Titanium Dioxide (TiO2) Market Size, Share, Trends, Grade (Food Grade, Pigment Grade, Anatase Grade, and Others), Application, and Region - Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The global market for titanium dioxide reached a size of USD 20.1 Billion in 2021, and is anticipated to exhibit a revenue CAGR of 5.4% during the forecast period.

Companies Mentioned

• Tronox Holdings plc
• The Chemours Company
• Kronos Worldwide Inc.
• Huntsman International LLC. Inc.
• Hangzhou Harmony Chemical Co. Ltd.
• Travancore Titanium Products Ltd.
• Evonik Industries AG
• Lomon Billions Group
• Ishihara Sangyo Kaisha Ltd.
• The Kerala Minerals & Metals Limited

The growth of the market is being propelled by several factors, including the increasing demand for titanium dioxide in paints and coatings, as well as its growing application in the automotive industry.

Titanium dioxide is a natural mineral that is utilized as a bright white pigment in paint, as well as in the food, cosmetics, and other industrial sectors. It is a white, powdery substance that is highly resistant to Ultraviolet (UV) light and functions as a UV absorber.

Annual sales of titanium dioxide pigment have surpassed several Billion tons worldwide. Inorganic coatings such as alumina or silica can reduce surface catalysis and increase weather resistance, which has led to the widespread use of titanium dioxide as a white pigment.

Moreover, the photocatalytic properties of TiO2, which are fundamentally dependent on the kinetics of electron/hole pairs produced by photons, have undergone extensive preparation, characterization, scientific knowledge, and modification. TiO2 with a nanostructure is currently used in a variety of fields such as catalysts, electronic materials, energy, and environmental protection.

Additionally, the high refractive index of titanium dioxide nanoparticles makes them suitable for use in various products, including drugs, coatings, inks, polymers, food, cosmetics, and textiles.

The increasing demand and application of titanium dioxide in a wide range of sectors have resulted in rising prices. Suppliers and customers are addressing these concerns by establishing major strategic initiatives and partnerships to promote environmentally sustainable methods of utilizing titanium dioxide in industrial applications, which is driving revenue growth of the market. The building and construction industry frequently substitutes titanium dioxide for other materials, which is also accelerating market revenue growth.

Furthermore, titanium dioxide is being utilized in ever-more complex and difficult applications by its end users, with surface coatings being the most prominent example. The industry has an enormous opportunity for innovation and development for a multi-functional substance such as titanium dioxide, which is driving growth of the market. Increasing investments towards sustainable utilization of titanium dioxide pigment for maintaining circular economy is another factor driving market revenue growth.

Market Dynamics

Driving Factor

The increasing demand from the automotive sector is expected to drive the growth of the market. TiO2 is known for its UV-absorbing properties and its ability to resist paint degradation, making it a popular choice for automotive manufacturers. As a result, vehicle owners can save money and time on maintaining their paint finishes, as TiO2 ensures that the paint on their cars is brighter, more durable, and diversified.

TiO2 pigments are used in various vehicles, including cars, trucks, buses, cruise ships, trains, and airplanes, to provide a distinctive brilliance and resilience. TiO2 is particularly important in automotive coatings as it improves color, opacity, and brightness, while also making plastic automotive parts more resilient to the elements. Titanium dioxide is also used to reflect and dissipate UV radiation, which helps to maintain the paint finish on vehicles.

As a result, many automobile manufacturers are incorporating Titanium Dioxide Tio2/Sio2 ceramic coating application to exterior surfaces, paint, trim, wheels, and glass of cars and automobiles. However, these benefits come at a cost.

Restraining Factor

The high cost associated with the use of Titanium Dioxide is restraining market growth. Top TiO2 suppliers attribute the rising costs to the sharp increases in the cost of key raw ingredients. Additionally, the ongoing pandemic continues to impact overseas markets, while home market demand keeps growing.

Although production capacity has not yet restored to normal, more goods are being exported. The cost of titanium dioxide has been rising since 2020 and has gone through at least 7 price adjustment cycles so far. Many corporate reports indicate that the application potential of titanium dioxide is very broad, with its use recently being broadened to include new energy, environmental protection, high-end equipment, medical, and other disciplines.

However, the rising cost of titanium dioxide has led to price increases by companies such as Venator Materials PLC and Kemu, which have announced price increases for their titanium dioxide pigments used in coatings, plastics, inks, and paper applications. These price increases are expected to take effect in July 2021 and April 2022, respectively, and may range up to USD 400 per ton.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Titanium Dioxide Market Segmentation & Impact Analysis
4.1. Titanium Dioxide Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Rising demand for titanium dioxide as food additives and paints & coatings
4.2.2.2. Increasing application in the automotive industry
4.2.3. Market restraints analysis
4.2.3.1. High costs associated with the use of titanium dioxides
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Price Trend Analysis
4.6. Customer Mapping
4.7. COVID-19 Impact Analysis
4.8. Global Recession Influence

Chapter 5. Titanium Dioxide Market By Grade Insights & Trends

Chapter 6. Titanium Dioxide Market By Application Insights & Trends

Chapter 7. Titanium Dioxide Market By Production Process Insights & Trends

Chapter 8. Titanium Dioxide Market Regional Outlook

Chapter 9. Competitive Landscape
9.1. Market Revenue Share by Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market Positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape

Chapter 10. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/g6is22

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