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.  

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The increasing adoption of lightweight vehicles is also resulting in the rising requirement for titanium dioxide. The need for lightweight vehicles is growing due to the surging concerns regarding automotive emissions, requirement for making vehicles more fuel efficient, and need for reducing carbon footprints. Titanium dioxide is utilized for coatings that are applied on polycarbonate structures that are utilized in the manufacturing of lightweight vehicles. This is because of the ability of these coatings to impart scratch resistance, stability, and durability to the polycarbonate structure. Moreover, the replacement of conventional glass with polycarbonate plastics is also expected to drive the demand for titanium dioxide in the coming years. 

 

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. 

 

Among these, the paints & coatings application held the largest share of the market in the past and is further expected to dominate the market in the coming years as well, owing to the surging requirement for these products in architectural applications. Geographically, Asia-Pacific dominated the titanium dioxide market in the past, as per a report by P&S Intelligence. This is because of the increasing movement in urban areas and surging population across the region. 

 

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