According to ChemAnalyst report, “India Titanium Dioxide Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, India Titanium Dioxide market grew at a CAGR of around 8.25% during 2015-2019 and is projected to grow at a healthy CAGR during the forecast period. Strong growth of India’s paints and coatings sector backed by Indian government’s favorable policies to encourage infrastructural development in education, heath, retail and housing sector will drive the growth of Titanium Dioxide in the forecast period.
Browse Complete Report : India Titanium Dioxide Pricing
Titanium Dioxide (TiO2) is a white pigment possessing unique combination of desirable properties such as high refractive index, low specific gravity, opacity and non-toxicity. Due to its superior properties, Titanium Dioxide is a widely used raw material in several downstream sectors such as paints, paper, toothpaste, plastics, inks, textile, porcelain, cosmetics, food, medicines, etc. It is used in a wide variety of personal care products, including color cosmetics such as eye shadow and blush, loose and pressed powders and in sunscreens. Pigment Titanium Dioxide holds almost 25% share in the total content of paints. Paints and coatings sector hold the largest market share (more than 70%) of the country’s total demand with market growth prospects likely to increase with rapid expansion of India’s construction industry and ongoing infrastructure developments.
Titanium dioxide (TiO2) is extracted from the mineral ilmenite, which is found in the metamorphic, plutonic igneous rocks and beach sands of India. It can be further categorized into Anatase, Rutile and Brookite grades, of which only Anatase and Rutile hold commercial importance. Of the two, Rutile TiO2 is known to possess better stability with efficient light scattering properties than Anatase pigments which are less durable and find common applications in low quality distempers, self-cleaning paints and road marking paints. Apart from paints, Anatase grade is also used in other downstream sectors such as plastics, paper, textiles, detergents, printing inks etc. while Rutile grade is used in the plastics and printing inks sectors.
More than 70% of the domestic TiO2 demand is met through imports, China being the leading exporter. India has huge reserves of ilmenite and rutile, majorly located in the coastal regions of Tamil Nadu, Andhra Pradesh, Kerala, and Odisha. However, lack of manufacturing infrastructure, high power cost and high capital cost involved in setting up a TiO2 plant act a barrier for the domestic Titanium Dioxide production. However, initiatives of the Government of India towards promoting domestic manufacturing such as Make in India Scheme are expected to drive the Titanium Dioxide market growth in the long run.
However, domestic TiO2 industry had to pay a heavy cost due to the sudden outbreak of coronavirus which hard hit demand as construction activities and infrastructural developments remained halted almost throughout the final quarter of 2020 after the government announced lockdown measures to curb the spread of virus. However, due to logistic disruptions, the domestic units could neither move their finished products nor procure raw materials to revive production. Unprecedented slowdown in demand from the automotive sector which remained severely impacted due to decline in auto sales, further pressurized the domestic Titanium Dioxide players. However, as the Indian economy heads towards recovery with easing lockdown restriction, 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. Moreover, increasing government initiatives such as Housing for All by 2022, aimed at providing affordable housing to Indian homebuyers would enable domestic players to witness a strong boost in the domestic TiO2 market.
According to ChemAnalyst report, “India Titanium Dioxide Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, 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. Leading international players like 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 exporting TiO2 in huge 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 has put forth a plan to increase capacity of Chavara KMML plant to 100 KTPA by manufacturing TiO2 from the beach sand minerals. Moreover, Tata Steel has proposed a project to produce 1,00,000 tonnes per year Titanium Dioxide from ilmenite extracted from beach sands of Tirunelveli and Thoothukudi districts located in in southern Tamil Nadu.
“India’s organized paints sector is aggressively growing at a CAGR of around 15%. And this robust growth in the paints sector offers a vast potential to the expansion of India’s Titanium Dioxide industry. This is because the paints sector is highly material intensive, with over 300 raw materials involved in the manufacturing process. TiO2 is one of the key pigments used in paints which is mostly imported in the country, despite its high ilmenite reserves. Ilmenite is an important ore for manufacturing TiO2, and other Titanium based chemicals. However, the technology for processing ilmenite in various titanium-based chemicals is a closed one. For manufacturing TiO2, India must source the technology from foreign countries and start processing the mineral sand which needs a hefty investment of several crores. With government’s Make in India scheme and strong aim to reduce its import dependency, it is anticipated that Titanium Oxide market in India will get a strong boost over the coming years. At the same time, the state government’s policy decision to discourage export of raw mineral sand would enable India to make remarkable achievements in ilmenite processing. Since India heavily relies on cheaper imported TiO2, it is extremely crucial for the local players to evaluate the influence of COVID-19 outbreak on the TiO2 supply chains across the globe and study its potential impact on its domestic prices. The prices of TiO2 in India are currently under strong fluctuations due to trade restrictions volatility in crude oil and foreign exchange fluctuation due to COVID-19.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
Source : ChemAnalyst
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