Global Titanium Dioxide Market Demand & Forecast Analysis, 2016-2032

Executive Summary : - 

Titanium dioxide is the most widely used pigment and has its applications in paints & coatings, plastics, pulp & paper, inks and cosmetics. It accounted for more than 70% of the total pigments consumption globally in 2017. The demand-supply of TiO2 depends on the paints & coatings market which in turn depends on the building & construction and the industrial sector. The paints & coatings applications accounted for the largest market in 2017 with a market share of around 65%. The demand growth of titanium dioxide has been dramatically different between various regions and countries. In the areas with mature economies, demand growth for titanium dioxide is expected to fall well below global averages primarily due to the geographic shift of many manufacturing industries (such as the consumer goods and automotive) to areas of lower labor costs such as China and India.

Asia-Pacific (specifically China) region is the major consumer for titanium dioxide followed by Western Europe and United States. Titanium dioxide used in coatings forms a compatible bond with polycarbonate used in automotives and thus, growth in light weight vehicles will usher the growth of titanium dioxide. Rapid growth in automotive sector in countries like China and India has led the growth of titanium dioxide consumption.

Asia-Pacific will see the strongest level of demand growth spurred on by China. The consumption of titanium dioxide in China has been increasing, mainly because of increasing demand from its coatings end-use industries like polymers, automotive and others. The country has the largest and most diverse manufacturing sector and still remains one of the attractive locations for manufacturing. The chemicals and petrochemicals industry along with the increasing expansions and industrialization will create opportunities for paints & coatings which in turn will create growth for titanium dioxide consumption. In US, recovery in construction industry has boosted the growth of titanium dioxide market and the global demand for titanium dioxide is forecast to grow over the long-term at around 5% per annum, heavily influenced the growth of the product in the Asia-Pacific region.