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.
Explore More Related Studies Published by Fact.MR
Research:
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:
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insights. As a prominent player in business intelligence, we
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providing reliable market intelligence, FACT.MR continues to assist
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and achieving long-term success. With a global presence and a team
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actionable insights to capitalize on emerging opportunities and
stay ahead in the competitive landscape.
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