2024 China titanium dioxide industry market prospect forecast

Titanium dioxide is an important inorganic chemical pigment, the main component is titanium dioxide. Recently, the titanium dioxide market ushered in the first rise in the year. Titanium dioxide spot market supply situation is increasingly tight, the market situation also shifted to the supply side, some manufacturers have increased according to their own situation, the range of 200-400 yuan.

Titanium dioxide industry development status

In recent years, with the overall demand for downstream coatings and other industries continues to grow, titanium dioxide production in our country maintains a sustained growth.

According to the research report on the in-depth Analysis and Development Prospects of China’s titanium dioxide Market in 2022-2027 released by the China Business Industry Research Institute, China’s titanium dioxide production reached 4.16 million tons in 2023, an increase of 7.74% year-on-year. It is predicted that China’s titanium dioxide production will reach 4.29 million tons in 2024.

With the increase of titanium dioxide industry production capacity in our country, its position in the international market is also rising. By the end of 2023, the effective scale of 42 full-process titanium dioxide enterprises in the industry is 5.2 million tons/year, and the average capacity utilization rate of the industry is 80.0%. Analysts at the China Business Industry Research Institute predict that China’s titanium dioxide production capacity will reach 5.5 million tons in 2024.

Output structure

At present, China’s titanium dioxide is mainly rutile type. In 2023, the output of rutile type products is 3.6 million tons, accounting for 86.53% of the total output. The output of anatase products is 420,000 tons, accounting for 10.10% of the total output; The output of non-pigment grade and other types of products was 140,000 tons, accounting for 3.37%.

Rutile type titanium dioxide

Rutile titanium dioxide is a kind of high performance white inorganic pigment, mainly composed of titanium dioxide, it is widely used in coatings, plastics, rubber and other fields, is the main production type of titanium dioxide.

According to the research report on the in-depth Analysis and Development Prospects of China titanium Dioxide Market in 2022-2027 released by the China Business Industry Research Institute, the production of rutile titanium dioxide in China reached 3.6 million tons in 2023, an increase of 8.24% over the same period last year. It is predicted that the production of rutile titanium dioxide in China will reach 3.77 million tons in 2024.

Titanium dioxide industry key enterprises

Longbai Group Co., Ltd. is mainly engaged in the production and sales of titanium dioxide, titanium sponge, zirconium products and sulfuric acid and other products. The main products are titanium dioxide series products, zirconium products and aluminum sulfate, etc., which is the largest titanium dioxide enterprise in Asia.

In the first three quarters of 2023, its operating revenue reached 20.283 billion yuan, up 12.28% year-on-year. Net profit returned to the mother was 2,142 million yuan, down 32.49% year on year. In 2022, the main products include titanium dioxide, iron products and titanium sponge, accounting for 67.09%, 10.30% and 8.85% of the overall revenue, respectively.

Titanium dioxide industry development prospects

1. The rapid growth of national economy drives the development of titanium dioxide industry

Titanium dioxide is widely used in many industries of the national economy, and its market prosperity and development trend are closely related to the overall environment of economic development. In recent years, the national economy of our country maintained the momentum of rapid development. Our country national economy keeps on higher speed growth for coating, plastic, papermaking, printing ink and so on titanium dioxide consumption industry to provide ample development space; At the same time, titanium dioxide industry in the downstream application industry driven by the continuous development, the future development prospects are good.

2. Titanium dioxide product characteristics and application fields continue to expand

With the development of economy, scientific and technological progress and the deepening of application research, the application field of titanium dioxide will be broader, which will bring incremental market demand for the development of titanium dioxide.

3. The technical level of titanium dioxide industry is constantly improving

Under the background of the increasingly strict environmental protection policy and supervision and the growing pressure of market competition, titanium dioxide enterprises in our country are also continuing to increase the research and development of technology. In the sulfuric acid production process, production enterprises through efforts to improve product quality, strengthen the comprehensive utilization of resources and “three wastes” treatment, do a good job in energy conservation and emission reduction work; In the production process of chloride method, although the development speed is slow, but in the case of monopoly of foreign production technology, the development of “from scratch” has been realized, and the technology and experience have been explored and accumulated for the next development.