Titanium Dioxide Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Titanium Dioxide Market is expected to grow at a significant rate of 6% during the forecast period. Titanium dioxide is an inorganic compound or white powdered chemical substance which is used to create white pigmentation as the compound has a bright appearance. In recent years, titanium dioxide is used in various industries such as semiconductor material, paints & coatings, adhesives, paper, plastics and rubber, printing inks, coated fabrics and textiles, as well as ceramics, floor coverings, roofing materials, cosmetics, toothpaste, soap, water treatment agents. In addition, titanium dioxide is used as a pigment in paints and coatings used in the construction and automotive industries, where they are used to design and coat automotive products, make printing inks, and as flooring and roofing materials. Hence, the high demand for titanium dioxide in various applications is a leading factor in this market’s expansion across the globe. Major companies in the market are launching new variants of titanium dioxide for pharmaceutical applications. For instance, JRS PHARMA launched the new Titanium Dioxide -Free tablet coating for ready-to-use coating with the use of other products such as palm oil, synthetic colors, and genetically modified ingredients.

Tronox Limited, Argex Titanium Inc., Tayca Corporation, Venator Materials PLC, The Chemours Company, KRONOS WORLDWIDE INC, Huntsman Corporation, Evonik Industries AG, LB Group Co Ltd, Shandong Doguide Group Co. Ltd. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst grade, Rutile grade category is to witness higher CAGR during the forecast period”

Based on grade, the market is segmented into rutile and anatase. The rutile grade category is to witness higher CAGR during the forecast period owing to the advanced characteristics compared to anatase titanium dioxide. As rutile grade possesses better hiding strength and wearability and has various applications such as advanced outside coatings, latex coatings, superior paper coatings, etc. These grades may be synthetic with the use of both chloride and sulfate processes. In addition, rutile grade is used as a service in paint applications for generating white color in plastics and prevents color fading in the paper which is further escalating the growth in the market.

“Amongst process, sulfate to hold a significant share in the market in 2020”

On the basis of process, the market is categorized into sulfate and chloride. Among these, sulfate to hold a significant share of the market in 2020. This is mainly due to the technique being simpler, relatively easy of handling, and cost-green in generating titanium oxide. The growing demand from the automobile and construction industry has brought about excessive consumption of titanium oxide for packages in paints & coatings. Moreover, the development of efficient production equipment and the use of low-grade, environmentally friendly raw materials. Thus, sulfate demand is increasing in the market.

“Amongst application, the paints & coatings category is to witness the highest CAGR during the forecast period”

Based on application, the titanium dioxide market has been classified into paints & coatings, plastics, paper & pulp, cosmetics, and others. The paints & coatings category is to witness the highest adoption of titanium dioxide during the forecast period. This is because paints & coatings provide excellent opacity, high whiteness, durability, and color retention that are used in industries such as architectural coatings, automotive OEM coatings, general industrial finishes, powder coatings, waterborne paints, protective coatings, wood finishes, and other coatings. Thus, the positive impact of using paints & coatings is fueling its demand in the market.

“APAC to hold a significant share in the market”

In 2020, APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to rising investments in infrastructure development projects, expanding urbanization, rising standards of living, and the thriving automotive sector, which are the main drivers of the region’s overall growth. In addition, the demand for titanium dioxide from end-user sectors such as the automotive, residential construction, plastic, cosmetics, paints & coatings, and paper industries is also accelerating the market’s expansion in the area. The production of titanium dioxide is done by many players in the market by setting up manufacturing plants across the globe. For instance, Lomon Billions Group, the world’s third-largest producer of titanium dioxide, has manufacturing facilities in China. The business can produce more than 1.01 million tonnes of titanium dioxide annually.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The Global Titanium Dioxide Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Titanium Dioxide Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global titanium dioxide market were the three major steps undertaken to create and analyze the adoption of titanium dioxide in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global titanium dioxide market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the titanium dioxide market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the titanium dioxide market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as grade, process, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the titanium dioxide market. Further, we conducted factor analysis using dependent and independent variables such as various grade, process, and applications of titanium dioxide. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the titanium dioxide market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global titanium dioxide market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the titanium dioxide market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global titanium dioxide market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global titanium dioxide market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of grade, process, and application in the global titanium dioxide market.

The main objective of the Global Titanium Dioxide Market Study

The current & future market trends of the global titanium dioxide market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the titanium dioxide market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of grade, process, and application.
• Define and analysis of the regulatory framework for the titanium dioxide
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the titanium dioxide market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the titanium dioxide market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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