+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Titanium Dioxide Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

  • PDF Icon


  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4622430
The titanium dioxide market is estimated to reach over 6 million tons by the end of this year. The market is projected to register a CAGR of more than 4% during the forecast period.

The market was negatively impacted due to COVID-19 in 2020. The manufacturing activities and construction work were halted due to supply chain disruptions and labor shortages during the pandemic, thus affecting the demand from various application sectors, such as paints and coatings, plastics, cosmetics, and others. For instance, L'Oréal, the largest cosmetics company globally, registered a loss of EUR 1,735 million (USD 2,024.52 million) during the first half of 2020 compared to the same period in 2019. However, the condition recovered in 2022, restoring the market's growth trajectory.

Key Highlights

  • Over the short term, rapidly increasing demand from the paints and coatings industry will likely be the major factor driving the market's growth.
  • On the flip side, the toxicity of titanium dioxide is expected to hamper the market's growth.
  • Increased use of ultrafine particles of titanium dioxide in cosmetics and construction industries is expected to offer opportunities during the forecast period.
  • The Asia-Pacific region dominated the market worldwide. It is also expected to register the highest growth rate during the forecast period due to increasing consumption from China and India.

Titanium Dioxide Market Trends

Paints and Coatings Segment is Expected to Dominate the Market

  • Titanium dioxide is the most widely used white pigment material in the paints and coatings industry. When incorporated into a coating, it efficiently scatters visible light and imparts whiteness, brightness, and opacity, making it widely used in the paints and coatings industry.
  • The paints and coatings industry is experiencing a boom with the rapid growth of the building, construction, and automotive end-user industries.
  • Various expansions in the paints and coatings industry may augment the titanium dioxide market in the coming years. For reference, in May 2021, PPG Industries Inc. invested USD 13 million to expand its paints and coatings unit in China, which includes eight new powder coating production lines and an expanded powder coatings technology center. This expansion is anticipated to increase the capacity by more than 8,000 metric tons annually.​
  • In the automotive sector, paints and coatings are used in the interior and exterior parts of the vehicle, as they impart protection and appeal to vehicles. They are used in metallic parts and plastic vehicle components of automobiles.
  • According to OICA data, global automotive production increased by around 3% and reached 80.14 million units in the 2021 compared to million units in the same period in 2020. ​The car sales increased by around 29% in the first half of 2021 compared to 2020, reaching 44.40 million units. This factor is likely to drive the market during the forecast period.
  • The demand for paints and coatings for electric cars is increasing as car manufacturers strive to reduce their carbon footprint. The paints and coatings used must be designed to withstand the harsh, high-voltage environment created by electric vehicular systems and to protect the car’s body from corrosion. These coatings must also ensure the durability of the vehicle’s surface and provide a range of aesthetic options. Additionally, global battery electric car sales increased by 135%, with 4.7 million units by the end of 2021.

Asia-Pacific to Dominate the Market

  • The Asia-Pacific region dominates the overall market. With the rising production in industries such as cosmetics, paints and coatings, and plastics, the consumption of titanium dioxide is projected to increase noticeably during the forecast period.
  • China is one of the world's largest producers and consumers of titanium dioxide products. Furthermore, the demand for TiO2 for paints and coatings will likely increase in the construction industry. According to the National Bureau of Statistics of China, in 2021, the Chinese construction industry generated an added value of approximately CNY 8 trillion (USD 0.15 trillion).
  • In November 2021, Asian Paints announced plans to invest USD 127 million in the Gujarat plant, India, to expand the paints manufacturing capacity from 130,000 kiloliters to 250,000 kilotons in the next two to three years.​
  • In addition, the plastic industry is expected to grow in China and India. The Chinese plastic industry is growing at a high rate due to the availability of cheaper raw materials and massive demand from developing economies.
  • According to the National Bureau of Statistics of China, about 80.04 million metric tons of plastic products was produced in 2021, compared to 76.03 million metric tons in 2020.
  • According to the Plastics Export Promotion Council (PLEXCONCIL), India’s plastics export increased by 11.1% to USD 295.3 billion (cumulative value) from April to November 2022 compared to USD 265.8 billion in April-November 2021.
  • The Asia-Pacific region is also witnessing strong growth in the demand for cosmetic products, leading to increased usage by teenagers and increased hygiene awareness, thus augmenting the market studied.

Titanium Dioxide Market Competitor Analysis

The titanium dioxide market is a consolidated market, with a few major players holding a significant share of the market. Some of the major players (not in any particular order) in the market include The Chemours Company, Tronox Holdings PLC, Venator Materials PLC, KRONOS Worldwide Inc., and LB Group.

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Rapidly Increasing Demand for Paints and Coatings
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Toxicity and Stringent Environmental Policies of Titanium Dioxide
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Trade Analysis

5 MARKET SEGMENTATION (Market Size in Volume)
5.1 Grade
5.1.1 Rutile
5.1.2 Anatase
5.2 Application
5.2.1 Paints and Coatings
5.2.2 Plastics
5.2.3 Paper and Pulp
5.2.4 Cosmetics
5.2.5 Other Applications (Leather, Textiles)
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom France Italy Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Argex Titanium Inc.
6.4.2 Evonik Industries AG
6.4.3 Grupa Azoty
6.4.4 INEOS
6.4.5 Kemipex
6.4.6 KRONOS Worldwide Inc.
6.4.7 LB Group
6.4.8 Precheza
6.4.9 TAYCA
6.4.10 The Chemours Company
6.4.11 The Kish Company Inc.
6.4.12 Tronox Holdings PLC
6.4.13 Venator Materials PLC

7.1 Increased Use of Ultrafine Particles of Titanium Dioxide in Cosmetics and Construction Industries

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Argex Titanium Inc.
  • Evonik Industries AG
  • Grupa Azoty
  • Kemipex
  • KRONOS Worldwide Inc.
  • LB Group
  • Precheza
  • The Chemours Company
  • The Kish Company Inc.
  • Tronox Holdings PLC
  • Venator Materials PLC