Analysis of the global titanium Dioxide market in 2023

Global production and capacity of titanium dioxide

The global production capacity of titanium dioxide will be 8.8 million tons in 2022, according to statistics agencies. In 2022, the production capacity of titanium dioxide in China is about 5 million tons, an increase of more than 10% compared with that in 2021. The output of titanium dioxide is about 3.9 million tons, with a small year-on-year growth compared with 2021.

Global capacity and domestic capacity, production and Exports of white flour in 2018-2022 (10,000 tons)

The domestic production capacity and output of titanium dioxide account for more than 50% of the global production capacity and output proportion. Domestic titanium dioxide exports in 2022 will be about 1.4 million tons, more than one third of its output.

Forecast of global consumption of titanium dioxide

Global titanium dioxide consumption showed steady growth, with a compound annual growth rate of 3.9 percent from 2016 to 2021, due to increasing demand from downstream industries such as the coatings industry, plastics industry and paper industry. Looking ahead, with stable global macroeconomic development and increasing demand from emerging economies, global titanium dioxide consumption is expected to maintain steady growth, reaching 9.3 million tons in 2026, with a compound annual growth rate of 3.5% from 2021 to 2026.

Global titanium dioxide demand structure

Titanium dioxide application scenarios, the main downstream industry for the paint industry and plastic industry, and paint and plastic in various industries are also widely used. In developing countries, due to the continuous economic development and large population, the rapid growth of construction and infrastructure industry in developing countries will stimulate the demand for coatings and its upstream titanium dioxide products. At the same time, due to the price advantage and the expansion of chlorination capacity, the competitiveness of Chinese titanium dioxide enterprises in the global market is also gradually improving.

Raw material supply and titanium dioxide price

Titanium dioxide is the main downstream application of titanium concentrate, accounting for 90%. Domestic titanium ore is mostly symbiotic raw ore, and the resources and reserves are concentrated in Sichuan Province.

According to the Statistical Table of Mineral Resources Reserves of China in 2021 released by the Ministry of Natural Resources, by 2021, domestic primary titanium (magnetic) iron ore reserves are 212.77 million tons (TiO2), titanite ore reserves are 16.6 million tons (mineral) and titanite rutile reserves are 2.2 million tons (rutile). Titanium resources in China mainly exist in the form of primary titanium (magnetic) iron ore, and there is a shortage of rutile titanium ore. In terms of provinces, Sichuan Province’s primary titanium (magnetic) iron ore reserves reached 189.61 million tons (TiO2), accounting for 89% in China.

Market drivers and future opportunities for titanium dioxide

Downstream industry demand rise: titanium dioxide application scenarios, with the development of the global economy, the improvement of people’s living standards, especially the development of industrialization and urbanization in the developing countries with a large population, stimulate the demand for titanium dioxide products is growing.

Progress of production process: In recent years, China titanium dioxide enterprises have been committed to improving the production process, especially the development of chlorination, in order to improve product quality and performance, expand the range of application and meet the requirements of environmental protection. Therefore, the continuous progress of technology has promoted the development of titanium dioxide market.

Increasing concentration of capacity: With the implementation of environmental protection policies, the cost of environmental protection increases and small and medium-sized producers are forced to shut down or limit production. At the same time, leading titanium dioxide producers with core technologies of chlorination will enjoy competitive advantages brought about by favorable policies, thus further increasing their market share. As a result, the number of titanium dioxide producers is expected to decrease while the capacity of a single producer is likely to increase.

Industrial chain integration: With the continuous development of titanium dioxide market, titanium dioxide producers (especially leading enterprises) have been committed to the integration of the industrial chain, involving upstream titanium ore mining, titanium concentrate processing, high titanium slag smelting and synthetic rutile production, midstream titanium dioxide products and other by-products production and downstream product development. The integration of industrial chain is conducive to reducing production costs, expanding product mix and enriching income sources.

（This article comes from the Internet）