Titanium Dioxide Market Trends

Growth Drivers

• Expansion of construction industry - The demand for paints and coatings is being driven primarily by the global construction industry, which includes both residential and non-residential infrastructure. Rapid urbanization and industrialization, rising purchasing power parity (PPP), high living standards, and rising disposable income are the main factors driving the construction industry's expansion.
  
  According to the most recent ICP data quoted by WHO in May 2024, the size of the world economy in PPP terms was USD 152 trillion in 2021. Over half of the total was accounted for by middle-income economies. The share of high-income economies was somewhat less than 50%. Less than 1% of the world's GDP was made up of low-income economies. Therefore, the expansion of the construction industry is fueling the growth of the titanium dioxide market.

• Growing adoption of architectural paints & coatings - Architectural paints and coatings are used with titanium dioxide. While certain specialist coatings must be chemical and corrosion-resistant, architectural paints must be UV and water-resistant. Titanium dioxide offers a very strong and long-lasting coating that is resistant to UV radiation from the sun and keeps paint looking brand-new for a long period. Paints and coatings intended for external surfaces contain titanium dioxide to improve resistance to color fading, chalking, and cracking.

•  Increased adoption in the cosmetics and construction industry - The particle size of ultrafine titanium dioxide is less than 100 nm. Titanium dioxide, an ultrafine nanomaterial, offers superior dispersibility, greater transparency, and more potent UV absorption and scattering capabilities. UVA and UVB are the two wavelengths of UV light that the sun emits.
  
  These UV rays damage the skin, resulting in sunburn, cancer, and other issues. In the cosmetics sector, ultrafine titanium dioxide is used in a variety of products, including lotions, sunscreens, blushes, eyeshadows, and loose and pressed powders. Brightness, superior protection from UV radiation, and a faultless appearance are all provided by titanium dioxide's ultrafine nanoparticles.

Challenges

• Stringent environmental regulations - Since the manufacturing of titanium dioxide releases a number of waste products, governments everywhere have imposed a number of regulations to regulate emissions and guarantee the proper disposal of this waste. Since titanium dioxide is acidic in nature, incorrect disposal practices lead to a host of environmental issues. When sulfuric acid is dumped into the ocean, the pH of the receiving water drops abruptly and the water's oxygen content decreases, killing marine life.

• Fluctuating raw material prices - The fluctuation in the prices of raw materials required in the production of titanium dioxide directly impacts the growth of the market. Factors impacting the prices of raw materials necessary to manufacture titanium dioxide are the constant changes in import and export policies and stringent government norms imposed for environmental safety.