The global titanium dioxide market size was estimated at USD 20.43 billion in 2023 and is projected to reach USD 31.79 billion by 2030, growing at a steady CAGR of 6.6% from 2024 to 2030. This upward trend is largely driven by increasing investments in chloride production processes, which offer improved product purity and sustainability compared to conventional methods. In addition, the thriving global construction industry is creating strong demand for titanium dioxide (TiO₂), as the compound plays a critical role in enhancing durability, opacity, and brightness in paints and coatings. TiO₂ is extensively used in a wide range of paints & coatings applications, and when combined with various colored pigments, it becomes a key component in several end-use sectors. These include automotive coatings, aircraft coatings, marine coatings, and architecture & decorative coatings, all of which rely on TiO₂ for its whitening properties, UV resistance, and excellent coverage. With construction activities increasing worldwide, the requirement for paints & coatings continues to rise, thereby driving substantial demand for titanium dioxide.

The global titanium dioxide market is moderately fragmented, with players striving to strengthen their market presence through strategies such as production capacity expansions, new product innovations, and continuous research & development efforts. For example, in 2021, LB Group announced plans to promote its wide range of TiO₂ pigments for plastics at Chinaplas, one of the largest plastics and rubber trade fairs in the world. This initiative is expected to help the company solidify its position in the Chinese market, particularly in supplying TiO₂ pigments for plastic applications a fast-growing segment driven by rising plastic consumption across diverse industries.

Key industry players continue to adopt partnerships, acquisitions & mergers, facility expansions, and new product launches as central strategies to maintain competitiveness and broaden their market reach. An important development occurred in July 2023, when Chemours, a leading global chemistry company, announced the closure of its titanium dioxide plant in Taiwan. This move forms part of Chemours’ broader strategic plan aimed at improving the earnings quality of its Titanium Technologies (TT) segment, which produces the widely recognized Ti-Pure brand of titanium dioxide. The decision highlights how major companies are restructuring assets to enhance operational efficiency and strengthen long-term profitability.

Key Market Trends & Insights:

  • The Asia Pacific titanium dioxide market dominated with a 42.6% revenue share in 2023, driven by rapid modernization, industrial growth, and robust economic expansion across countries in the region. These factors have significantly accelerated construction, automotive production, and manufacturing activities, all of which rely heavily on TiO₂-based materials.
  • Based on application, the paints & coatings segment held the largest market share of 44.2% in 2023, reflecting the extensive use of TiO₂ as a white pigment in this sector. Titanium dioxide is indispensable in formulating high-performance paints due to its superior opacity, brightness, and protective properties.
  • In terms of carrier production process, the sulfate process dominated the market with a 78.0% revenue share in 2023. This process remains widely used due to its cost-effectiveness and suitability for producing TiO₂ for various industrial applications.
  • Based on grade, the rutile grade accounted for a 76.4% revenue share in 2023, as it offers higher weathering resistance compared to anatase grade. Rutile TiO₂ is preferred in outdoor applications and high-performance coatings where durability and UV stability are essential.

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Market Size & Forecast:

  • 2023 Market Size: USD 20.43 Billion
  • 2030 Projected Market Size: USD 31.79 Billion
  • CAGR (2024-2030): 6.6%
  • Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights:

Some of the prominent players in the global market include The Chemours Company, Tronox Holdings plc, Evonik Industries AG, and KRONOS Worldwide Inc., among others. Established companies maintain competitive advantages over regional players by integrating operations across the value chain, ensuring efficient supply chain management, and reducing production and operational costs. Many manufacturers are also focusing on developing innovative TiO₂ products and advanced production technologies to meet evolving customer needs. Furthermore, backward integration is increasingly adopted as a strategy to reduce dependency on external raw material suppliers and lower overall operational costs.

For instance, in February 2022, PPG acquired the Powder Coating Manufacturing Business of Arsonsisi. This acquisition enables PPG to benefit from backward integration, aligning production processes and improving operational efficiencies.

Key Players

  • The Chemours Company
  • The Tronox Holdings plc
  • LB Group
  • Venator Materials PLC
  • KRONOS Worldwide Inc.
  • Evonik Industries AG
  • Ishihara Sangyo Kaisha, Ltd.
  • CNNC HUAN YUAN Titanium Dioxide Co., Ltd.
  • The Kerala Minerals & Metals Limited
  • CATHAY INDUSTRIES
  • TOR Minerals International, Inc.

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Conclusion:

The global titanium dioxide market is set to experience steady growth, supported by rising investments in advanced production technologies and the expanding demand from key industries such as construction, automotive, and manufacturing. As TiO₂ remains essential for high-performance paints, coatings, and plastic applications, its role in enhancing product durability and appearance will continue to drive adoption. Asia Pacific will maintain its leadership position due to rapid industrialization and strong economic growth across the region. Meanwhile, strategic initiatives such as mergers, acquisitions, capacity expansions, and backward integration will enable major players to strengthen their competitiveness and streamline operations. Overall, continuous innovation and increasing demand for high-quality pigments position the titanium dioxide market for sustained growth through 2030.