Global Titanium Dioxide Market Forecast Report to 2028, Featuring Profiles of Ineos, Tronox, Kronos, Evonik and LB Group

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Dec 07, 2023, 20:45 ET

DUBLIN, Dec. 7, 2023 /PRNewswire/ -- The "Global Titanium Dioxide Market: Analysis By Production, By Grade, By Production Process, By Application, By Region, Size & Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global titanium dioxide (TiO2) market is expected to witness substantial growth, with a forecast to reach US$27.03 billion by 2028, at a CAGR of 5.26% during the period of 2023-2028. The market's projected expansion is primarily driven by increasing demands from the booming construction and automotive industries, as well as emerging applications in personal care and food products.

Market Insights and Dynamics

The extensive use of TiO2 as a white pigment, imparting opacity and brightness across a multitude of applications, has cemented its status as an industrial necessity. The Rutile grade segment continues to lead the market, prized for its superior covering ability and resilience against environmental elements, making it indispensable in architectural paints and plastics. With the escalation in construction activities worldwide, the need for rutile TiO2 is anticipated to surge.

By production process, the Sulfate method has dominated TiO2 manufacture due to suitability in paint and coatings production, bolstered further by increasing demands from the lightweight automotive paints sector. Geo-economic shifts also point towards the Asia Pacific region, particularly China and India, as the epicenters for market growth, with their rapidly expanding construction and manufacturing industries.

While growth prospects look promising, the market faces challenges from stringent environmental policies and the volatility of raw material costs. Nano integration within titanium dioxide appears as a transformative trend, enabling enhanced properties at a molecular level, thus opening up novel applications in diverse sectors.

Global Market Segmentation Highlights

Paints and Coatings: Holding the lion's share, this segment benefits from the inherent property of TiO2 to provide enhanced opacity and UV resistance vital for long-lasting and aesthetic finishes.
Plastics: Rising production of plastics leverages titanium dioxide's color-preserving capabilities, noting particular interest in automotive and construction sectors.
Pulp and Paper, Cosmetics: Both segments take advantage of TiO2's brightening effects, with applications ranging from high-grade paper manufacturing to cosmetic formulations.

Regional Perspectives

The Asia Pacific region is at the forefront, propelled by vigorous construction and automotive industry growth, with China being a key player in expanding global production capacity. The region's economical and industrial strides are decisive factors in advancing the titanium dioxide market. In North America, the US's robust production and changing trade dynamics, notably tariffs affecting Chinese imports, have influenced domestic supply and consumption patterns.

Key Players Leading the Market

The competitive landscape is moderately consolidated with a few major players commanding a substantial market share. Recent developments include strategic expansions, mergers, and acquisitions intended to integrate cutting-edge technology and scale up production capabilities. Innovations continue to shape the market, with players adapting swiftly to the evolving industry demands and environmental considerations.

The report provides profiles of the following key players:

Ineos Group
Tronox Holdings
Kronos Worldwide
The Chemours Compan
Evonik Industries
Iluka Resources
Venator Materials
LB Group (Lomon Billions)
Ishihara Sangyo Kaisha
Kerala Minerals and Metals
CNNC Hua Yuan Titanium Dioxide

For further information on the titanium dioxide market's potential and strategic market dynamics, the newly published comprehensive analysis offers a detailed outlook on projections up to 2028, considering the impact analysis of COVID-19 and beyond.

For more information about this report visit https://www.researchandmarkets.com/r/xeom8v

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