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Market Outlook
The global titanium dioxide market stood at a production volume of around 4.6 million metric tons in 2019. The industry is estimated to grow at a CAGR of 2.82% during the forecast period of 2020-2025. The global titanium dioxide market is further projected to attain a production volume of around 5.4 million metric tons by 2025. The industry is being driven by the increasing application of the product in segments like plastics, and paints and coatings.
The Asia Pacific is the leading market in the global titanium dioxide market, accounting for over two-fifth of the total industry share. The other significant markets for the product are Europe and North America. In 2018, the global demand for the product was nearly 4.50 million metric tons. The North America market, with a growth rate of 2.5%, is emerging as a significant market for the substance. The region is the net exporter of the product; however, it also imports a significant volume of low-quality titanium dioxide from the Asia Pacific. On the other hand, Asia Pacific imports high-quality material from the U.S. and Europe to fulfill the increasing demand for the product in the region.
The product is most widely used as pigments, that find application in diverse products like paints, paper, plastics, and printing inks, among others. It has been estimated that the product accounts for nearly two-thirds of the pigments produced globally, and further, oxide-based pigments stand at a value of almost USD 13.2 billion. In 2017, the paints and coatings segment accounted for more than 60% of the global demand for the product, which is further estimated to grow at a healthy pace during the forecast period, thus, aiding the industry growth.
Properties and Applications
Titanium dioxide, a white inorganic compound, is generally derived from minerals like ilmenite, rutile, and anatase. Due to its luminous, non-toxic, and non-reactive properties, it finds application in a wide range of products, particularly as a vivid colourant to increase the whiteness and brightness of various substances. It finds application in diverse sectors, which are as follows:
Paints and coatings remains the largest application sector for the product, whereas its demand in the plastic industry is increasing steadily due to the excellent refractive qualities of the product.
The EMR report also analyses the regional markets for the product, which are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Analysis
The global titanium dioxide market is being driven by the robust growth of the paints and coatings sector, especially in the emerging economies. Further, the properties of the substance make it a favourable choice for use as a pigment, which aids the industry growth. It is also known as ‘the perfect white’ owing to its powerful, whitening qualities, which make it a popular choice for use as a pigment. The increasing urbanisation and rise in per capita income, particularly in the developing economies, is aiding the global titanium dioxide market. This directly impacts the automobile and construction sectors, which, in turn, will drive the demand for the product. The rising disposable incomes is resulting in the increase of infrastructure activities, which is further adding to the higher demand for the paints and coatings variants, which is the largest application sector for the substance, thus, propelling the industry forward.
Moreover, the increased demand for the product from the plastic and packaging industry is providing further impetus to the industry. The refractive properties of the product allow it to absorb or scatter UV rays, thus, making it favourable for use in Masterbatches, flexible packaging, and food-grade packaging, thus, aiding the industry growth. Also, these properties have increased the demand for the product in the cosmetics sector, to manufacture products like sunscreen lotion, thus, providing the scope for a healthy growth during the forecast period.
Competitive Landscape
November 2019- Chemours (NYSE: CC) introduced a new titanium dioxide grade produced through the chloride-based process to expand into the inks market.
May 2019- Tronox Holdings plc (NYSE: TROX) announced its acquisition of The National Titanium Dioxide Company Limited’s titanium dioxide business.
The EMR report provides a detailed analysis of the following major players in the global titanium dioxide market, covering their competitive landscape, capacity, and recent developments like mergers, acquisitions and investments, expansions of capacity, and plant turnarounds:
The report provides a further assessment of the titanium dioxide market by carrying out SWOT and Porter’s five forces analysis.
1 Preface
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.4 Assumptions
2.5 Market Models
3 Introduction
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Titanium Dioxide Market Analysis
6.1 Figure: Global Titanium Dioxide Historical Market (2015-2019) & Forecast (2020-2025)
6.2 Chart: Global Titanium Dioxide Market Breakup by Application
6.2.1 Paints and Coating
6.2.2 Plastics
6.2.3 Papers
6.2.4 Others
6.3 Figure: Global Titanium Dioxide Market Breakup by Application: Historical Market (2015-2019) & Forecast (2020-2025)
6.3.1 Paints and Coating
6.3.2 Plastics
6.3.3 Papers
6.3.4 Others
6.4 Chart: Global Titanium Dioxide Market Breakup by Region
6.4.1 North America
6.4.1.1 United States of America
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 Germany
6.4.2.2 United Kingdom
6.4.2.3 France
6.4.2.4 Italy
6.4.2.5 Others
6.4.3 Asia Pacific
6.4.3.1 China
6.4.3.2 Japan
6.4.3.3 India
6.4.3.4 ASEAN
6.4.3.5 Others
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Argentina
6.4.4.3 Mexico
6.4.4.4 Others
6.4.5 Middle East & Africa
6.4.5.1 Saudi Arabia
6.4.5.2 United Arab Emirates
6.4.5.3 Nigeria
6.4.5.4 South Africa
6.4.5.5 Others
6.5 Figure: Global Titanium Dioxide Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
6.5.1 North America
6.5.1.1 United States of America
6.5.1.2 Canada
6.5.2 Europe
6.5.2.1 Germany
6.5.2.2 United Kingdom
6.5.2.3 France
6.5.2.4 Italy
6.5.2.5 Others
6.5.3 Asia Pacific
6.5.3.1 China
6.5.3.2 Japan
6.5.3.3 India
6.5.3.4 ASEAN
6.5.3.5 Others
6.5.4 Latin America
6.5.4.1 Brazil
6.5.4.2 Argentina
6.5.4.3 Mexico
6.5.4.4 Others
6.5.5 Middle East & Africa
6.5.5.1 Saudi Arabia
6.5.5.2 United Arab Emirates
6.5.5.3 Nigeria
6.5.5.4 South Africa
6.5.5.5 Others
7 Global Titanium Dioxide Price Analysis
7.1 North America Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.2 Europe Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.3 Asia Pacific Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.4 Latin America Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.5 Middle East and Africa Historical Price Trends (2015-2019) and Forecast (2020-2025)
8 Global Titanium Dioxide Trade Analysis
8.1 Major Exporting Countries by Value & Volume
8.2 Major Importing Countries by Value & Volume
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Porter’s Five Forces Analysis
10.1 Overview
10.2 Buyer’s Power
10.3 Supplier’s Power
10.4 New Entrants
10.5 Degree of Rivalry
10.6 Substitutes
11 Value Chain Analysis
12 EMR’s Key Indicators for Demand
13 EMR’s Key Indicators for Price
14 Procurement Strategy
14.1 Sourcing Practice
14.2 Pros and Cons
14.3 Contract Models
15 Cost Analysis
15.1 Raw Material
15.2 Process Chemicals
15.3 Fixed Costs
15.4 Waste Treatment
15.5 Utilities
16 Competitive Landscape & Supplier Analysis
16.1 The Chemours Company
16.1.1 Company Overview
16.1.2 Financial Analysis
16.2 Venator Materials PLC
16.2.1 Company Overview
16.2.2 Financial Analysis
16.3 KRONOS Worldwide, Inc.
16.3.1 Company Overview
16.3.2 Financial Analysis
16.4 Tronox Holdings plc
16.4.1 Company Overview
16.4.2 Financial Analysis
16.5 Lomon Billions Group
16.5.1 Company Overview
16.5.2 Financial Analysis
16.6 Shandong Doguide Group Co., Ltd
16.6.1 Company Overview
16.6.2 Financial Analysis
16.7 Jinan Yuxing Chemical Co.Ltd
16.7.1 Company Overview
16.7.2 Financial Analysis
16.8 Nanjing Titanium Dioxide Chemical Co., Ltd.
16.8.1 Company Overview
16.8.2 Financial Analysis
16.9 Ningbo Xinfu Titanium Dioxide Co., Ltd
16.9.1 Company Overview
16.9.2 Financial Analysis
16.10 Others
17 Events and Developments
Additional Customisations Available:
18 Manufacturing Process
18.1 Detailed Process Flow
18.2 Operations Involved
18.3 Mass Balance
19 Production Cost Analysis and Project Economics
19.1 Land, Location and Site Development
19.2 Construction
19.3 Plant Machinery
19.4 Cost of Raw Material
19.5 Packaging
19.6 Transportation
19.7 Utilities
19.8 Manpower
19.9 Other Capital Investment
The global titanium dioxide market attained a volume of around 4.6 million metric tons in 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 2.82%. The market is projected to reach 5.4 million metric tons by 2025.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of its application, paints and coatings sector accounts for nearly 60% in the global market share. The major regional titanium dioxide markets for the product are North America, Europe, the Asia Pacific, Latin America, and Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include the Chemours Company, Venator Materials PLC, KRONOS Worldwide, Inc., Tronox Holdings plc, Lomon Billions Group, Shandong Doguide Group Co., Ltd, Jinan Yuxing Chemical Co.Ltd , Nanjing Titanium Dioxide Chemical Co., Ltd., and Ningbo Xinfu Titanium Dioxide Co., Ltd, among others.
The major drivers of the industry such as rising disposable incomes, increasing population, growing construction sector and infrastructural activities, increasing urbanisation, and growing plastic and packaging industry are expected to aid the market growth. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected market conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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