Global Titanium Market

The global Titanium dioxide market size was valued at over USD 17 billion in 2019 and is estimated to grow over 7.5% CAGR (compound annual growth rate) from 2020 to 2030.

In September 2020, the European Commission presented an action plan on critical raw materials. The Commission considers essential or critical those raw materials that are of crucial economic importance but cannot be reliably obtained within the EU and therefore have to be imported for the most part. The EU is highly dependent on imports from other countries, particularly for raw materials that are important for developing digitalization and future-oriented technologies. In order to continue to guarantee Europe's stocks of key raw materials, local and regional authorities will also have to play an essential role, since it will be necessary to increase the extraction of raw materials on the territory of the EU and to improve the recycling of key raw materials, as stated in the «Action Plan on Fundamental Raw Materials». Among the 30 key raw materials are titanium and silicon metal.

In September 2022, the European Commission announced a new legislative proposal, the European Critical Raw Materials Act, to help boost the supply of minerals such as lithium and rare earths. The proposal was announced by European Commission President Ursula von der Leyen as part of the annual State of the Union address.

The growing global paint and coatings industry is likely to drive market demand for titanium dioxide over the anticipated time period. The product is widely used to produce architectural paints, wallpaper coatings, radiator paints, plastic paints, etc. in the industry. Increased automotive production and spending in the construction sector will be key growth parameters for the paint and coatings industry, further enhancing TiO2 demand in the coming years.

In the US, paint and coatings production was projected to exceed 6 billion liters and is expected to grow significantly in the coming years. It is likely that an increasing number of vehicles in emerging countries, including China, India, Mexico, etc. improve the use of paints and coatings in the coming years.

Another key factor enabling growth is a continuing trend in the use of self-cleaning technologies in various product industries around the world. Some of the potential applications for this product include self-cleaning fabrics, antimicrobial coatings for hospital infections, self-cleaning concrete, polycarbonate substrate, self-cleaning paints, etc.

Asia Pacific will account for more than 40% of the overall titanium market share in the coming years. The key reason behind this is the growth in the production of plastics, paints, and coatings in China. China accounted for around 30% of global plastic production in 2018 and is likely to increase its share in the coming years. Apart from these, the growing number of automobiles along with increased construction activities in major counties will stimulate revenue from the titanium dioxide market in this region.