Titanium dioxide (TiO2), the key ingredient that provides opacity in coatings, saw reduced global demand in 2018 by 3-4% vs. 2017, closely following the weaker growth of economies in China, the rest of Asia, Europe and the Middle East.
Chinese producers were primarily responsible for over-production in the export market, while pricing was high and -Chinese demand was low. Led by Chemours, multi-national producers (MNPs) reducing production and inventory are accelerating destocking activities.