Asia-Pacific Creating High Demand for Titanium Dioxide

Published on December 22 2020

The demand for paints & coatings is increasing across the world ascribed to the rising construction and renovation activities. As the personal income of people is rising, they are spending more money on enhancing the aesthetic appeal of their houses. Paints and coatings are an important part of renovation and construction activities, which is why their demand is increasing. As per the World Paint & Coating Industry Association, the sales of global paints and coatings was $172.8 billion in 2019. Some other factors, driving the demand for these products are the expanding automotive industry and rising urban population.

Since titanium dioxide is a major material that is used in the production of paints & coatings, its demand is increasing as well. The material is safe and inert and hence is used in a number of applications other than paints and coatings as well. Titanium dioxide is a semiconducting material which shows photocatalytic activity in light’s presence. Such characteristics further make this material suitable for a number of applications. The global titanium dioxide market is further registering growth because of the low price of its processing and the raw material.

The titanium dioxide market is predicted to reach a value of $24,026.1 million by 2030, from $15,020.2 million in 2019, registering a 4.5% CAGR during the forecast period (2020–2030). When process is taken into consideration, the market is divided into chloride and sulphate, between which, the sulphate process accounted for the major share of the market in 2019. The process has the ability to extract the compound from all the ores, including rutile, titania slag, and ilmenite. The chloride process only has the ability to extract titanium dioxide from rutile ores. In terms of application, the market is categorized into inks, paper, paints & coatings, and plastics.

Hence, the demand for titanium dioxide is growing due to the increasing requirement for paints & coatings around the world.