The U.S. Market for Titanium Dioxide (TiO2)

The U.S. Market for Titanium Dioxide (TiO2)

With the decline of the U.S. housing and construction market and the slowing U.S. economy, domestic consumption of titanium dioxide (TiO2) has hit recessionary—even depressionary levels. SBI estimates the total value of the U.S. market declined 18% percent alone in 2007. And since 2003, U.S. consumption in volume terms has declined 23%. But the decline of the U.S. dollar has made domestically produced TiO2 more attractive to overseas customers, pushing exports up 19%. So what’s in store for producers of a commodity that is used in everything from paints to toothpaste?

This all-new SBI report contains data and analysis describing the U.S. market for TiO2. Because the supply and demand of TiO2 is so expansive, the U.S. market is also looked at in the context of the global marketplace. The report examines both the value of the market, the size of the market in terms of quantities produced and consumed, the average selling prices for various components of trade and the competitive landscape with profiles of major TiO2 producers.

The report includes an analysis of economic factors affecting the industry, the factors affecting growth and innovation. In addition, major end-user markets are analyzed for potential opportunities.

Report Methodology
Report data were obtained primarily from government sources and the major manufacturers. Other sources included trade associations and publications, business journals and interviews with industry professionals.  
 

Chapter 1 Executive Summary

• Scope of the Report
  
  
• Methodology
  
  
• Overview
  
  
• Uses
  
  
• Properties
  
  
• Processes
  
  
• Forms
  
  
• Suppliers
  
  
• Market Size and Growth
  
  
  
  
  
  • U.S. Market Value Declines 18%, Volume at 10-Year Low
    
    
  • Figure 1-1 U.S. Titanium Dioxide Market Value, 1998-2007 (in million $)
    
    
  • Figure 1-2 U.S. Titanium Dioxide Market Volume, 1998-2007 (in thousands of metric tons)
    
    
  • Components of Market Value
    
    
  • Figure 1-3 Components of U.S. Titanium Dioxide Market Value: Shipments, Imports and Exports, 1998-2007 (in billion $)
    
    
  • Components of Market Volume
    
    
  • Figure 1-4 Components of U.S. Titanium Dioxide Market Volume: Shipments, Imports and Exports, 1998-2007 (in millions of metric tons)
  
  
  
  
• Market Forecast
  
  
  
  
  
  • TiO2 Market to Top $2.3 Billion by 2012
    
    
  • Figure 1-5 U.S. Titanium Dioxide Market Forecast, 2007-2012 (in million $)
    
    
  • Exports to Drive Growth
    
    
  • Table 1-1 U.S. Titanium Dioxide Market Forecast by Shipments, Imports and Exports, 2007-2012 (in million $)
  
  
  
  
• Competitive Overview
  
  
  
  
  
  • Competition
    
    
  • Figure 1-6 Global Market Share by Metric Ton Production Capacity, 2007 (percent)
    
    
  • Mergers & Acquisitions
  
  
  
  
• Macro Trends
  
  
  
  
  
  • 2008 Real GDP Growth Forecasted at a Meager 0.9%
    
    
  • Figure 1-7 Percentage Changes in U.S. Current-Dollar GDP, Real GDP and the GDP Price Index, 2002-2008 (%)
    
    
  • Personal Consumption Slows
    
    
  • Figure 1-8 Percentage Changes in U.S. Current-Dollar vs. Real Personal Consumption Expenditures and Inflation, 2001-2008 (%)
    
    
  • TiO2 and the Economy
    
    
  • U.S. Dollar Decline
    
    
  • Figure 1-9 Federal Reserve Bank of Atlanta’s Trade-Weighted U.S. Dollar Index, January 1995-May 2008 (index)
    
    
  • Commodity Prices
    
    
  • Figure 1-10 Percentage Changes in the U.S. Titanium Dioxide Commodity Price Index, 1991-1st Qtr 2008 (%)
    
    
  • Future TiO2 Prices
    
    
  • Input Costs
    
    
  • Sulfuric Acid and Chlorine
  
  
  
  
• Market Landscape
  
  
  
  
  
  • Slow and Constricted Capacity Growth
    
    
  • Is New Capacity Needed?
    
    
  • New Production Technologies
    
    
  • Nanotechnology
    
    
  • New Applications
    
    
  • Ready for the next generation of cleanliness?
    
    
  • Greening of TiO2
    
    
  • Semiconductor TiO2 Process
    
    
  • HP Develops Memory Technology using TiO2
    
    
  • Research Developments
    
    
  • TiO2 As a Catalyst
    
    
  • UV Light Absorption Improvement
    
    
  • Biological Research
    
    
  • Improved Refractive Ability
  
  
  
  
• End-Use Markets
  
  
  
  
  
  • Paints & Coatings Has Highest Consumption
    
    
  • Plastics Account for ¼ of Consumption
    
    
  • Paper et al.
    
    
  • Specialty Markets
    
    
  • Figure 1-11 Estimated Share of U.S. Titanium Dioxide Market Value by Major End-Use, 2007 (percent)

Chapter 2 The Market

• Scope of the Report
  
  
• Methodology
  
  
• Overview
  
  
• Uses
  
  
• Properties
  
  
• Processes
  
  
• Forms
  
  
• Suppliers
  
  
• Market Size and Growth
  
  
  
  
  
  • Worldwide Market
    
    
  • U.S. Market Value Declines 18%
    
    
  • Figure 2-1 U.S. Titanium Dioxide Market Value, 1998-2007 (in million $)
    
    
  • Components of Market Value
    
    
  • Figure 2-2 Components of U.S. Titanium Dioxide Market Value: Shipments, Imports and Exports, 1998-2007 (in billion $)
    
    
  • Table 2-1 Components of U.S. Titanium Dioxide Market Value: Shipments, Imports and Exports, 1998-2007 (in million $)
    
    
  • Domestic vs. Foreign Production
    
    
  • Figure 2-3 Net Shipments vs. Imports as a Share of U.S. Titanium Dioxide Market Value, 1998-2007 (in billion $)
    
    
  • Exports Account for Growing Share of Shipments
    
    
  • Figure 2-4 Exports as a Share of U.S. Titanium Dioxide Shipment Value, 1998-2007 (in billion $)
    
    
  • U.S. Market Volume Down 28%
    
    
  • Figure 2-5 U.S. Titanium Dioxide Market Volume, 1998-2007 (in thousands of metric tons)
    
    
  • Components of Market Volume
    
    
  • Figure 2-6 Components of U.S. Titanium Dioxide Market Volume: Shipments, Imports and Exports, 1998-2007 (in millions of metric tons)
    
    
  • Table 2-2 Components of U.S. Titanium Dioxide Market Volume: Shipments, Imports and Exports, 1998-2007 (in thousands of metric tons)
    
    
  • Domestic vs. Foreign Production
    
    
  • Figure 2-7 Net Shipments vs. Imports as a Share of U.S. Titanium Dioxide Market Volume, 1998-2007 (in millions of metric tons)
    
    
  • Exports Account for More Than Half of Shipments
    
    
  • Figure 2-8 Exports as a Share of U.S. Titanium Dioxide Shipment Volume, 1998-2007 (in millions of metric tons)
    
    
  • Average Market Prices Rise
    
    
  • Figure 2-9 Average Price of Titanium Dioxide per Metric Ton in the United States, 1998-2007
    
    
  • Average Shipment, Import and Export Prices
    
    
  • Table 2-3 Average Price of Titanium Dioxide per Metric Ton of U.S. Shipments, Imports and Exports, 1998-2007 (in U.S. $)
    
    
  • Figure 2-10 Average Price of Titanium Dioxide per Metric Ton: U.S. Shipments, Net Shipments, Imports and Exports, 1998-2007 (in U.S. $)
    
    
  • Canada, China Top Countries for Imports
    
    
  • Table 2-4 U.S. Titanium Dioxide Imports by Country of Origin, 1998 and 2003-2007 (in million $)
    
    
  • Figure 2-11 Share of U.S. Titanium Dioxide Import Value by Top 10 Countries, 2007 (percent)
    
    
  • Table 2-5 U.S. Titanium Dioxide Imports by Country of Origin, 1998-2007 (in thousands of metric tons)
    
    
  • Figure 2-12 Share of U.S. Titanium Dioxide Import Volume by Top 10 Countries, 2007 (percent)
    
    
  • Belgium, Canada, Mexico Top Countries for Exports
    
    
  • Table 2-6 U.S. Titanium Dioxide Exports by Country of Destination, 1998 and 2003-2007 (in million $)
    
    
  • Figure 2-13 Share of U.S. Titanium Dioxide Export Value by Top 10 Countries, 2007 (%)
    
    
  • Table 2-7 U.S. Titanium Dioxide Exports by Country of Destination, 1998-2007 (in thousands of metric tons)
    
    
  • Figure 2-14 Share of U.S. Titanium Dioxide Export Volume by Top 10 Countries, 2007 (%)
  
  
  
  
• Market Forecast
  
  
  
  
  
  • TiO2 Market to Top $2.3 Billion by 2012
    
    
  • Figure 2-15 U.S. Titanium Dioxide Market Forecast, 2007-2012 (in million $)
    
    
  • Exports to Drive Growth
    
    
  • Table 2-8 U.S. Titanium Dioxide Market Forecast by Shipments, Imports and Exports, 2007-2012 (in million $)
    
    
  • U.S Quantity Consumption to Decline
    
    
  • Figure 2-16 U.S. Titanium Dioxide Market Forecast, 2007-2012 (in thousands of metric tons)
    
    
  • Table 2-9 U.S. Titanium Dioxide Market Forecast by Shipments, Imports and Exports, 2007-2012 (in thousands of metric tons)

Chapter 3 Competitor Profiles

• Overview
  
  
• Competition
  
  
• Figure 3-1 Global Market Share by Metric Ton Production Capacity, 2007 (percent)
  
  
• Figure 3-2 Global Market Share by Net U.S. Dollar Sales, 2007 (percent)
  
  
• Mergers & Acquisitions
  
  
• DuPont
  
  
  
  
  
  • Overview
    
    
  • Performance
    
    
  • Figure 3-3 Estimated Titanium Dioxide Net Sales for DuPont: Total and International vs. North America, 2003-2007 (in million $)
    
    
  • Figure 3-4 Worldwide Net Sales for DuPont Coatings & Color Technologies by Region, 2007 (%)
    
    
  • Top End-User: Automotive
    
    
  • Figure 3-5 Worldwide Net Sales for DuPont Coatings & Color Technologies by End-Use, 2007 (%) 2008 Price Increase
    
    
  • Products
    
    
  • Table 3-1 DuPont Titanium Technologies Selected Product
    
    
  • Portfolio by End-Use
  
  
  
  
• Huntsman Corp.
  
  
  
  
  
  • Overview
    
    
  • Figure 3-6 Huntsman’s Titanium Dioxide Production Capacity by Process Type, 2007 (percent)
    
    
  • Performance
    
    
  • Figure 3-7 Huntsman’s Pigment Net Sales, 2003-2007 (in million $)
    
    
  • Top End-User: Coatings
    
    
  • Figure 3-8 Estimated Share of Huntsman Titanium Dioxide Net Sales by End-Use, 2007 (%)
    
    
  • 2008 Price Increase
    
    
  • Products
    
    
  • Table 3-2 Huntsman Selected Product Portfolio by End-Use
    
    
  • Kemira Oyj
    
    
    
    
    
    • Overview
      
      
    • Performance
      
      
    • Figure 3-9 Kemira Specialty and Titanium Dioxide Net Sales, 2003-2007 (in million $)
      
      
    • Top End-User: Coatings
      
      
    • 2008 Price Increase
      
      
    • Products
      
      
    • Table 3-3 Kemira Oyj Selected Product Portfolio by End-Use
    
    
    
    
  • Kronos Worldwide
    
    
    
    
    
    • Overview
      
      
    • Performance
      
      
    • Figure 3-10 Kronos Worldwide Production Capacity and Sales Volume, 2003-2007 (in thousands of metric tons)
      
      
    • Figure 3-11 Kronos Worldwide Net Sales to North America vs. Rest of World, 2003-2007 (in million $)
      
      
    • Figure 3-12 Kronos Worldwide Titanium Dioxide Net Sales by Region, 2007 (%)
      
      
    • Top End-User: Coatings
      
      
    • 2008 Price Increase
      
      
    • Products
      
      
    • Table 3-4 Kronos Worldwide Selected Product Portfolio by End-Use
    
    
    
    
  • Millennium Inorganic Chemicals (Cristal Global)
    
    
    
    
    
    • Overview
      
      
    • Performance
      
      
    • Figure 3-13 Net Sales for Millennium Inorganic Chemicals, Cristal Global and Cristal Titanium Dioxide, 2003-2007 (in million $)
      
      
    • Figure 3-14 Millennium Inorganic Chemicals’ Titanium Dioxide Production Capacity by Process Type, 2007 (%)
      
      
    • Top End-User: Coatings
      
      
    • Figure 3-15 Millennium Inorganic Chemicals’ Titanium Dioxide Net Sales by End-Use, 2007 (%)
      
      
    • 2008 Price Increase
      
      
    • Products
      
      
    • Table 3-5 Millennium Inorganic Chemicals Selected Product
      
      
    • Portfolio by End-Use
    
    
    
    
  • Sachtleben (Rockwood Holdings, Inc.)
    
    
    
    
    
    • Overview
      
      
    • Performance
      
      
    • Figure 3-16 Sachtleben’s Titanium Dioxide Pigment Net Sales to the U.S. vs. Rest of World, 2003-2007 (in million $)
      
      
    • Top End Users
      
      
    • Products
      
      
    • Table 3-6 Sachtleben (Rockwood Holdings) Selected Product Portfolio by End-Use
    
    
    
    
  • Tronox, Inc.
    
    
    
    
    
    • Overview
      
      
    • Figure 3-17 Tronox’s Titanium Dioxide Production Capacity by Process Type, 2007 (%)
      
      
    • Performance
      
      
    • Figure 3-18 Tronox Titanium Dioxide Net Sales to the U.S. vs. Rest of World, 2003-2007 (in million $)
      
      
    • Figure 3-19 Tronox Titanium Dioxide Net Sales by Region, 2007 (%)
      
      
    • Top End User: Coatings
      
      
    • Figure 3-20 Tronox Titanium Dioxide Net Sales by End-Use, 2007 (%)
      
      
    • 2008 Price Increase
      
      
    • Products
      
      
    • Table 3-7 Tronox Selected Product Portfolio by End-Use

Chapter 4 Macro Trends

• 2008 Real GDP Growth Forecasted at a Meager 0.9%
  
  
• Figure 4-1 U.S. Current-Dollar GDP vs. Real GDP, 2000-2008 (in trillion $)
  
  
• GDP Price Index Ticked Up
  
  
• Figure 4-2 Percentage Changes in U.S. Current-Dollar GDP, Real GDP and the GDP Price Index, 2002-2008 (%)
  
  
• Economic Future Uncertain
  
  
• Personal Consumption Slows
  
  
• Figure 4-3 U.S. Current-Dollar vs. Real Personal Consumption Expenditures, 2000-2007 (in billion $)
  
  
• Figure 4-4 Percentage Changes in U.S. Current-Dollar vs. Real Personal Consumption Expenditures and Inflation, 2001-2008 (%)
  
  
• TiO2 and the Economy
  
  
• U.S. Dollar Decline
  
  
• Figure 4-5 Federal Reserve Bank of Atlanta’s Trade-Weighted U.S. Dollar Index, January 1995-May 2008 (index)
  
  
• Commodity Prices
  
  
• Figure 4-6 Percentage Changes in the U.S. Titanium Dioxide Commodity Price Index, 1991-1st Qtr 2008 (%)
  
  
• Shipment Price Changes
  
  
• Figure 4-7 Percentage Changes in the Average Selling Price of U.S. Titanium Dioxide Shipments, 1993-2008 (%)
  
  
• Future TiO2 Prices
  
  
• Input Costs
  
  
• Refined Oil
  
  
• Figure 4-8 Percentage Changes in U.S. Refined Petroleum Products Commodity Price Index, 1991-2008 (%)
  
  
• Sufuric Acid and Chlorine
  
  
• Figure 4-9 Percentage Changes in the U.S. Sulfuric Acid and Chlorine, Sodium Hydroxide & Other Alkalies Commodity Price Indexes, 1991-2008 (%)
  
  
• Demand Factors
  
  
• Building Permits by Region
  
  
• Figure 4-10 U.S. New Housing Units Authorized by Building Permits, January 1998-April 2008 (in thousands of units)
  
  
• Value Put in Place
  
  
• Figure 4-11 Value of U.S. Monthly Construction Put in Place, Residential vs. Non-Residential, January 1998-February 2008 (in billion $)
  
  
• Home Maintenance and Improvements Lose Some Steam
  
  
• Auto Sales Heading Lower
  
  
• Figure 4-13 Value of U.S. Automobile Shipments, April 1998-April 2008 (in million $)

Chapter 5 Market Landscape

• Slow and Constricted Capacity Growth
  
  
• Plant Closings
  
  
• Efficiency Gains
  
  
• Figure 5-1 U.S. Titanium Dioxide Year-End Production Capacity, 1998-2007 (in thousands of metric tons)
  
  
• New Capacity
  
  
• Is the New Capacity Needed?
  
  
• New Production Technologies
  
  
• New Nano Process Aims to Reshape Industry
  
  
• New Alkali Process
  
  
• Tronox Improves Chloride Process
  
  
• Huntsman’s New Process Produces Premium Grade
  
  
• Nanotechnology
  
  
• Absorbing UV Rays Through Nano
  
  
• Nanotech to Protect Food
  
  
• Even Nanowires
  
  
• TiO2 Keeps It Clean Across Product Markets
  
  
• Brushing Your Teeth with Metal?
  
  
• Self-Cleaning Paints
  
  
• Self-Cleaning Fabrics
  
  
• Green Applications
  
  
• TiO2 and Smog: The Bond of Obliteration
  
  
• TiO2 Battles Mercury
  
  
• New Applications
  
  
• Semiconductor TiO2 Process
  
  
• HP Develops Memory Technology using TiO2
  
  
• Illuminating Developments in Photocatalysis
  
  
• Research Developments
  
  
• TiO2 As a Catalyst
  
  
• UV Light Absorption Improvement
  
  
• TiO2 Sunscreen Efficacy
  
  
• Biological Research
  
  
• Improved Refractive Ability

Chapter 6 End-Use Markets

• Paints & Coatings Has Highest Consumption
  
  
• Plastics Account for ¼ of Consumption
  
  
• Paper et al.
  
  
• Figure 6-1 Estimated Share of U.S. Titanium Dioxide Market Value by Major End-Use, 2007 (percent)
  
  
• Consumption Shifts Over Time
  
  
• Figure 6-2 Estimated Share of U.S. Titanium Dioxide Market Value by Major End-Use, 1998-2007 (percent)
  
  
• Paints & Coatings End-Use Market
  
  
  
  
  
  • Figure 6-3 U.S. Paints & Coatings Market, 1998-2007 (in billion $)
    
    
  • Market Components
    
    
  • Table 6-1 U.S. Paints & Coatings Market by Shipments, Imports and Exports, 2003-2007 (in billion $)
    
    
  • Price Increases Driving Much of Growth
    
    
  • Figure 6-4 Percentage Changes in Paint & Coatings Commodity Price Index vs. Shipment Volume, 1998-2007 (%)
    
    
  • Consumption of TiO2 by Paints & Coatings Industry
    
    
  • Figure 6-5 U.S. Paints & Coatings Shipments and U.S. Titanium Dioxide Market as a Percentage, 1998-2007 (in billion $)
    
    
  • Figure 6-6 Value and Volume of U.S. Titanium Dioxide Market Consumed by Paints & Coatings Industry, 1998-2007 (in million $ and thousands of metric tons)
    
    
  • Paints & Coatings Outlook
    
    
  • Figure 6-7 U.S. Paints & Coatings Market Forecast, 2007-2012 (in billion $)
    
    
  • Table 6-2 U.S. Paints & Coatings Market Forecast by Shipments, Imports and Exports, 2007-2012 (in billion $)
  
  
  
  
• Plastics & Rubber End-Use Market
  
  
  
  
  
  • Figure 6-8 U.S. Plastics & Rubber Market, 1998-2007 (in billion $)
    
    
  • Market Components
    
    
  • Table 6-3 U.S. Plastics & Rubber Market by Shipments, Imports and Exports, 2003-2007 (in billion $)
    
    
  • Prices Up, Volume Down
    
    
  • Figure 6-9 Percentage Changes in Plastics & Rubber Commodity Price Index vs. Shipment Volume, 1998-2007 (%)
    
    
  • TiO2 Consumption by Plastics & Rubber Industry
    
    
  • Figure 6-10 U.S. Plastics & Rubber Shipments and U.S. Titanium Dioxide Market as a Percentage, 1998-2007 (in billion $)
    
    
  • Plastics & Rubber Outlook
    
    
  • Figure 6-12 U.S. Plastics & Rubber Market Forecast, 2007-2012 (in billion $)
    
    
  • Table 6-4 U.S. Plastics & Rubber Market Forecast by Shipments, Imports and Exports, 2007-2012 (in billion $)
  
  
  
  
• Paper End-Use Market
  
  
  
  
  
  • Figure 6-13 U.S. Paper Market, 1998-2007 (in billion $)
    
    
  • Market Components
    
    
  • Table 6-5 U.S. Paper Market by Shipments, Imports and Exports, 2003-2007
    
    
  • Volume Suffers, Prices Beat Overall Inflation
    
    
  • Figure 6-14 Percentage Changes in Paper, Pulp & Allied Products Commodity Price Index vs. Shipment Volume, 1998-2007 (%)
    
    
  • TiO2 Consumption by Paper Industry
    
    
  • Figure 6-15 U.S. Paper Shipments and U.S. Titanium Dioxide Market as a Percentage, 1998-2007 (in billion $)
    
    
  • Figure 6-16 Value and Volume of U.S. Titanium Dioxide Market Consumed by Paper Industry, 1998-2007 (in million $ and thousands of metric tons)
    
    
  • Paper Outlook
    
    
  • Figure 6-17 U.S. Paper Market Forecast, 2007-2012 (in billion $)
    
    
  • Table 6-6 U.S. Paper Market Forecast by Shipments, Imports and Exports 2007-2012 (in billion $)
  
  
  
  
• A Look at Specialty End-Use Markets
  
  
  
  
  
  • Figure 6-18 Total U.S. Shipments for Titanium Dioxide Specialty End-Use Markets, 1998-2007 (in million $ and thousands of metric tons)

Appendix