Titanium Dioxide Market to Hit US$ 35 Billion with CAGR of 5.3% by 2034: Fact.MR

Market Benefiting from Widespread Use of Titanium Dioxide in Paint and Coating Formulations

ROCKVILLE, Md., June 18, 2024 /PRNewswire/ -- Fact.MR, a market research and competitive intelligence provider, reveals in its recently updated report that rapidly rising use of TiO2 in cosmetics and textiles is expected to help push the size of the global titanium dioxide market from US$ 20.9 billion in 2024 to US$ 35 billion by the end of 2034.

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Titanium dioxide is a bright white powdered chemical and is widely used in paint and coating formulations. The rising use of paints and coatings in construction, automobile, and electronics sectors is expected to boost the consumption of titanium dioxide pigments. The automobile manufacturing sector is witnessing rapid growth driven by increasing need for lightweight automobiles. This trend is expected to benefit titanium dioxide market growth, as titanium dioxide is widely used in paints and coatings due to their nanoparticle properties.

Rutile-grade titanium dioxide is gaining popularity due its highly effective stability and durability properties. These characteristics are further driving its use in the manufacturing of cosmetics, construction activities, and textile processing.

North America and Europe are dominant markets for titanium dioxide suppliers. This can be attributed to the growing automobile sector and presence of major end-use industries. Asia Pacific is expected to be fastest growing market due to rising construction activities. China is the major producer of titanium dioxide in the Asia Pacific region.

Key Takeaways from Market Study

• Global demand for titanium dioxide is foreseen to rise at a CAGR of 5.3% from 2024 to 2034.
• The United States market is approximated at US$ 2.8 billion in 2024.
• Sales of titanium dioxide in South Korea are projected to increase at a CAGR of 6.6% during the next 10 years.
• Rutile-grade titanium dioxide is estimated to account for 69.3% of the global market share in 2024.

"Advancements in production processes have led to the emergence of natural titanium dioxide, which is a key factor complementing market growth," says a Fact.MR analyst.

Competitive Analysis

Some of the leading companies in the titanium dioxide market include Cristal, Lomon-Billions, The Chemours Company, The Tronox Holdings Plc., Huntsman, Kronos, and Evonik Industries AG. Leading companies are adopting several organic and inorganic marketing tactics to earn high profits. This includes mergers and acquisitions, global expansion, digital marketing, and partnerships.

New companies are investing heavily in R&D to introduce innovative titanium dioxide. Start-up such as Impossible Materials has developed a cellulose-based titanium dioxide.

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Country-wise Analysis

North America, notably the United States, is a key market for titanium dioxide producers. The United States is expected to account for 71.1% of the North American market share in 2024. East Asia is a rising market due to the presence of large end-use industries, and it is likely to provide several prospects for titanium dioxide suppliers.

China is the largest producer of titanium dioxide in Asia Pacific. Rising construction activity in China is increasing demand for paints and coatings, which is expected to raise titanium dioxide consumption. Furthermore, the country's increasing need for lightweight automobiles is driving up titanium dioxide demand in automotive coating applications.

Economic growth and continued industrial operations are driving up the use of titanium dioxide as a dispersion, flocculent, and whitening agent. Titanium dioxide is used in vehicle coatings as a dispersive agent that maintains maximum gloss and resists chalking.

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The global titanium dioxide nanoparticles market, valued at US$ 242.2 million in 2023, is projected to grow at a compound annual growth rate (CAGR) of 6.2%, reaching US$ 442.0 million by the end of 2033.

The global titanium market, valued at US$ 28 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 6.5%, reaching a market valuation of US$ 52.5 billion by the end of 2033.

The global titanium dioxide nanomaterials market is anticipated to grow at a compound annual growth rate (CAGR) of 7.7% over the forecast period from 2022 to 2032. The market is projected to increase from US$ 1.71 billion in 2022 to approximately US$ 3.6 billion by 2032.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global titanium dioxide market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on grade (anatase-grade, rutile-grade) and application (paints & coatings, plastic, pulp & paper, cosmetics, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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SOURCE Fact.MR