[Online Quarterly Update] India Titanium Dioxide demand grew at a CAGR of 8.25% during 2015-2019 and is anticipated to achieve a healthy growth rate during the forecast period. Titanium Dioxide (TiO2) is a white permanent pigment popularly used as a raw material in several downstream industries such as paints, paper, toothpaste, plastics, inks etc. Due to its whiteness, opacity and refractive index, Titanium Dioxide is an important component in paints and holds about 25% share in total content of paints. Increasing demand for paints and coatings due to expanding construction industry and ongoing infrastructure developments will boost the demand for Titanium Dioxide in the forecast period. Apart from that, because of its non-toxic nature and UV absorption properties, TiO2 is also suitable for use in cosmetics, pharmaceuticals, toothpastes and even in foodstuffs. As a result, TiO2 is an important component of many sunscreen lotions and creams.
TiO2 can be further categorized into its polymorphic forms- Anatase, Rutile and Brookite. Of the three, only Anatase and Rutile hold commercial importance. Rutile TiO2 is comparatively more durable and stable with efficient light scattering properties than Anatase pigments which are less durable and are commonly used in low quality dispersion paints, self-cleaning paints and in road marking paints. However, Rutile pigments encompass a much broader application portfolio and covers almost all paint types. Apart from paints, Anatase grade is also used in other applications such as plastics, paper, textiles, detergents, printing inks etc. while Rutile grade is used in the plastics and printing inks sectors.
Titanium dioxide is derived from the mineral ilmenite (FeO.TiO2), which can be found in the metamorphic, igneous rocks and beach sands of India. India has huge reserves of ilmenite and rutile, majorly located in the coastal regions of Tamil Nadu, Andhra Pradesh, Kerala, and Odisha. According to National Mineral Inventory (NMI) database, the total resources of titanium minerals in India are estimated at about 414 million tonnes. Increasing investments in promoting domestic production of TIO2 and curtailing India’s reliance on imported volumes from China would propel the Titanium
Dioxide market prospects in the forecast period.
However, market uncertainties due to outbreak of coronavirus hard hit the TiO2 demand as construction activities and infrastructural developments in India remained hindered almost throughout the final quarter of 2020 after the government announced nationwide lockdown to curb the spread of virus. Unprecedented slowdown in the demand for automotive paints could be observed due to decline in automotive sales, although decorative paints growth was better. This was further hammered by restricted imports as India relies heavily on imports from China to meet majority of its demand. However, increased consumption from end-users such as infrastructure, automobile and real estate is likely to support the overall growth of the downstream paints and coatings sector with gradual pick-up in demand. The Titanium Dioxide market growth has been further geared up with aggressive paint buying due to Indian government’s committed goal of Housing for All by 2022, aimed at providing affordable housing to Indian homebuyers. Moreover, Indian government’s Make in India policy, is likely to encourage local players to expand their capacities and await novel investments in the TiO2 sector.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast Titanium Dioxide capacity, production, demand, inventory, and demand – supply gap in India.
• To categorize Titanium Dioxide demand based on application, end use, grade, source, purity, region and sales channel.
• To study trade dynamics and company share in India Titanium Dioxide market.
• To identify major customers of Titanium Dioxide in India.
• To evaluate and forecast Titanium Dioxide pricing by grade in India Titanium Dioxide market.
• To identify and profile major companies operating in India Titanium Dioxide market.
• To identify major news, deals and expansion plans in India Titanium Dioxide market.
Major players operating in the Indian Titanium Dioxide market are Kilburn Chemicals, The Kerala Minerals & Metals Limited (KMML), Travancore Cochin Chemicals, The Travancore Titanium Limited (TTPL) and VV Titanium Products Limited. Sichuan Lomon Titanium Co., Ltd., Henan Billions Chemicals Co., Ltd., CNNC Hua Yuan Titanium Dioxide Co., Ltd., Shandong Doguide Group Co., Ltd., Jinan Yuxing Chemical Co., Ltd etc. are some of the Chinese players exporting TiO2 volumes to India. Huge investments in TiO2 capacity expansions and production technologies would further drive TiO2 demand in the forecast period. In FY18, the Kerala government had proposed a plan to increase capacity of Chavara KMML plant to 100,000 tonnes per annum. In addition, Tata Steel has proposed a project to produce 1,00,000 tonnes per year Titanium Dioxide from ilmenite mined from beach sands of Tirunelveli and Thoothukudi districts in southern Tamil Nadu.
Around 70% of the domestic TiO2 demand is met through imports, China being the leading exporter to the Indian market. Being a crude oil derivative, TiO2 prices are highly susceptible to the volatility in crude oil. In FY20, Titanium Dioxide prices were assessed at USD XXX per MT on bulk contract basis. In Q4 FY20, TiO2 prices oscillated between $2500-2900/tonne CFR India due to trade-related restrictions due to COVID-19 outbreak.
To extract data for India Titanium Dioxide market, primary research surveys were conducted with Titanium Dioxide manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Titanium Dioxide market over the coming years.
ChemAnalyst calculated Titanium Dioxide demand in India by analyzing the historical data and demand forecast was carried out considering the end use industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Titanium Dioxide manufacturers and other stakeholders
• Organizations, forums and alliances related to Titanium Dioxide distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Titanium Dioxide manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the India Titanium Dioxide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Grade
Market, by Process
Sulphate Process, Chloride Process
Market, by End Use
Paints and Coatings, Plastics, Printing Inks, Paper, Others
Market, by Sales Channel
Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region
North, West, East and South
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