AMSTERDAM, the Netherlands - AkzoNobel has entered into a partnership in China with Quangxi CAVA Titanium Industry Co. Ltd. for the production and supply of titanium dioxide (TiO2), one of the most important raw materials in the production of paints and coatings.
The collaboration, which includes the construction of a new TiO2 plant in Qinzhou, China, will help to secure AkzoNobel's growing TiO2 raw material needs for the Asian market. Financial details were not disclosed.
Rapid growth is expected within the global coatings and paints market, and most of this demand growth will occur in Asia, especially China. As a result, the regional demand for TiO2 will also rise.
Quangxi CAVA Titanium Industry Co. Ltd. was recently established to produce TiO2 and is currently in the process of designing and constructing a 100,000-ton TiO2 plant at an industrial site in Qinzhou. Production is expected to start in early 2014.