The significant applications and usages of titanium dioxide have added to the lucrativeness of the global titanium dioxide market in 2018. According to the latest report from Grand View Research, the global titanium dioxide (TiO2) market size was valued at around US$ 13.2 billion in 2016. The market is expected to witness growth at a CAGR of over 8.9% from 2016 to 2025, owing to increasing demand from end-user industries. Usage of the product as pigments in paints & coatings formulation is expected to fuel industry growth over the next few years.
Within the global titanium dioxide market, the paint and coatings segments are expected to remain the largest market. Increasing demand for architectural and industrial coatings in the developing countries of Asia Pacific, particularly China and India, has registered huge demand for titanium dioxide in the paint and coatings industry, which would further boost the growth for this segment over the next few years. While Asia Pacific is also expected to remain the largest market due to the growth of end-use industries, such as paint and coatings, plastics, and paper.
China has become the world’s largest titanium dioxide supplier since 2009. During 2013-2016, the domestic titanium dioxide industry has registered a rapid growth as supported by the increase in demand for the products both at domestically and internationally. Today, China produces over 2.6 million tones of titanium dioxide per year, and exports a huge amount of its titanium dioxide products to Europe, the US and other Asia Pacific countries.
China is not only the world’s largest titanium dioxide producer but also the largest exporter and consumer of titanium dioxide. According to the recent report from Tranalysis, China exported over 750,000 tons of titanium dioxide to the global market in 2016, maintaining its title of the world’s largest titanium dioxide exporter once again. China has also shifted its main titanium dioxide export destinations from European and North American to the emerging markets in Asia Pacific, Middle East, and South America over the recent years.