The TiO2 industry had experienced a difficult 18 months from mid 2018 through 2019, seeing consistent sales volume decline, as a period of formidable destocking was immediately followed by a global trade war. First quarter 2020 sales outside China were brisk, as sales volume increased by an estimated 12% vs. 1Q19. China was dealing with COVID-19, as their sales volumes dropped by nearly 25% during the quarter.
As COVID-19 spread outside China, TiO2 sales were impacted. Based on recent comments from the industry’s multi-national producers and observers of the Chinese industry, sales outside China are predicted to drop 12-15% in 2Q20 vs. the previous year quarter, while Chinese recovery is slow.