China's Titanium Dioxide Export Market

In addition to rising raw material prices, the strong performance of the export market has also become one of the important reasons for the price increase in the titanium dioxide industry.

Qi Yu, a titanium analyst at Tu Duoduo Data Management Department, pointed out that since the beginning of this year, the foreign export market of titanium dioxide has maintained a good momentum, and the export volume of titanium dioxide has continued to increase, which has further aggravated the supply and demand tension of titanium dioxide.

Customs data shows that from January to November 2023, China's titanium dioxide exports totaled approximately 1.4983 million tons, an increase of 17.14% over the same period last year, and the export volume increased by approximately 219,200 tons. This shows that the competitiveness of China's titanium dioxide in the international market continues to improve.

Chen Bo said that in 2023, domestic titanium dioxide production will increase by 6.3% year-on-year to 4.16 million tons, and the production capacity utilization rate will reach 80%, a year-on-year decrease of 3 percentage points, but it is still at a high level. At the same time, as the competitiveness of China's titanium dioxide in the global market continues to improve, export volume is also growing steadily, and export volume basically accounts for about 1/3 of production.

Longzhong Information analyst Wang Xiaoqian pointed out to reporters that from 2019 to 2023, China's titanium dioxide exports have been increasing year by year, with the current export dependence reaching 41%. Among them, export volume in 2022 will reach 1.4058 million tons, a year-on-year increase of 7.17%, setting a new high in the past five years.

However, with the continuous advancement of the renovation and expansion of domestic titanium dioxide projects, the growth rate of my country's titanium dioxide production has been higher than the apparent consumption demand growth rate for a long time. In order to alleviate this problem, titanium dioxide manufacturers began to actively expand overseas markets and achieved remarkable results. At present, China's titanium dioxide production capacity accounts for more than 50% of the global production capacity, becoming the world's largest producer of titanium dioxide.

Minsheng Securities research report shows that in recent years, domestic titanium dioxide production capacity has expanded rapidly. As the prices of titanium ore and energy continue to remain high, overseas giants have accelerated their withdrawal from the titanium dioxide market, and domestic product exports have ushered in a golden period of development. In 2023, the titanium dioxide industry will receive frequent price increase letters, coupled with the withdrawal of overseas manufacturers, industry confidence will be boosted. In 2024, the pace of repair in the domestic coatings field and the fulfillment of expectations for continued growth in overseas exports deserve special attention.