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Titanium Dioxide Market To Generate Revenue Worth $24,026.1 Million by 2030

Published Date:   July 2020

The consumption of architectural and industrial coatings accounted for 53% and 29%, respectively, of the global paints and coatings consumption in 2019, as stated by the World Paint & Coatings Industry Association. This was due to the rising investments in the construction of hotels, apartments, offices, retail centers, and civic infrastructure and the increasing need to protect machinery and equipment from rusting and corrosion, in industries. This is positively driving the industry for titanium dioxide, which is a major ingredient in the formulations of paint and coating pigments.

These abovementioned factors are expected to help in the generation of $24,026.1 million revenue in the global titanium dioxide market by 2030, driving it at a CAGR of 4.5% during the forecast period (2020–2030).

Due to the COVID-19 pandemic, several industries, such as automobile, construction, and manufacturing, have been negatively impacted. This has led to the shooting up of titanium ore costs, which is the feedstock for both the processes, namely sulphate and chloride, used for the extraction of titanium dioxide. This has further resulted in the dropping demand for this product, among manufacturers of paints and coatings, plastics, cosmetics, and inks.

Extraction by Sulphate Process Generated Higher Revenue in Titanium Dioxide Market

Owing to the low-priced feedstock and usage of mature technology, the adoption of the sulphate process has been more widespread compared to the chloride process. This process held larger market share in 2019, due to the low degree of automation required and usability of this process for the extraction of titania from all titanium ores, namely ilmenite, rutile, anatase, and titania slag.

Furthermore, low capital investment is required to set up a chemical plant of this compound, using the sulphate process, and this process also has lower production costs, unlike the chloride process. These factors have led to the higher adoption of the former process throughout the globe.

Owing to its non-toxic, non-reactive, and luminous properties, which safely heighten the whiteness and brightness of paints and coatings, when used in their pigments, this application area dominated the market during the historical period (2014–2019) and is expected to remain so during the forecast period. Furthermore, titanium dioxide-containing pigments have reflective qualities, which both scatter and absorb ultraviolet (UV) rays, when used in architectural and industrial paints. For instance, titanium dioxide-based coatings for wind turbines provide both a suitable white color and protection from UV ray-induced degradation.

The growing demand for paints &coatings and plastics, due to the expanding construction, automotive, aerospace, and manufacturing industries in the APAC region, was majorly responsible for the largest market share of APAC in 2019. The surging paint and coating demand, due to infrastructure development activities and automobile production, owing to the rising population, urbanization rate, and disposable income, augments the growth of the titanium dioxide market in this region. Furthermore, the establishment of new and expansion of old production facilities in China and India are among the key factors responsible for the increasing consumption of the compound in this region.

Mergers & Acquisitions Are Key Strategic Measure Taken by Players in Market

Players in the titanium dioxide market are either merging with or acquiring other businesses, to gain a competitive edge over each other and establish a stronger presence. For instance, in April 2019, Venator Materials Plc acquired the European titanium dioxide paper laminates business from the global chemical company Tronox Holdings PLC. The deal involved cash considerations of $8.9 million, to be paid by 2021, with the production of 8120-grade product from Tronox transferred to Venator’s Greatham site in the U.K.

Browse report overview with detailed TOC on "Titanium dioxide Market Research Report: By Process (Sulphate, Chloride), Application (Paints & Coatings, Plastics, Paper, Inks) - Global Industry Analysis and Demand Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/titanium-dioxide-market

The major players present in the global titanium dioxide market are The Chemours Company, Tronox Incorporated, TAYCA CORPORATION, The Kerala Minerals & Metals Ltd., PRECHEZA A.S., Prakash Chemicals Pvt. Ltd., Travancore Titanium Products Ltd., CINKARNA, Metalurško-kemična Industrija Celje d.d, Lomon Billions, Evonik Industries AG, Kilburn Chemicals Limited, Titanos Group, Grupa Azoty S.A., and Venator Materials PLC.