Titanium dioxide market summary in 2023 and market forecast in 2024

In 2023, China’s titanium dioxide market has experienced four stages of “up and down”. The price of titanium dioxide has increased by 1600-1800 yuan/ton compared with the beginning of the year, an increase of 11%. As of this press release, the factory price of China’s rutile titanium dioxide including tax is 15600-17300 yuan/ton. The factory price of anatone titanium dioxide including tax is 14500-15000 yuan/ton. The overall titanium dioxide market in 2023 has not risen or fallen sharply, and the market is running smoothly.

In the first quarter, the market price of titanium dioxide was digested by inventory and export orders increased and the cost was high. The price of titanium dioxide rose steadily in January and February. In late March, the price rose faster and the downstream resisted. At the end of March, some enterprises gave up profits.

Titanium dioxide prices in the second quarter of the weak downward, domestic demand downturn, prices fell; Since April, the price of titanium white has fallen continuously. As of the end of June, the market price has fallen by about 1300 yuan/ton. Some prices have lost money.

Titanium dioxide market in the third quarter by demand and rising costs, titanium dioxide prices continued to rise from July to September, the market for three consecutive rounds of price rise tide; Under the high supply and price, the shipment of enterprises in late October has been under pressure, and the prices of individual enterprises have been adjusted.

As of mid-November, the market price is still higher than the price at the beginning of the year. Due to the decrease in market demand and the decline in raw material prices, the titanium white market has been adjusted in a weak way since November. The price of individual large manufacturers is 500-600 yuan/ton, and the price of enterprises is about 1500 yuan/ton. Affected by demand, the operating rate of titanium dioxide will decline, and the later market price decline or slowdown.

In 2023, China’s titanium dioxide production is expected to be 4.2 million tons, an increase of 300,000 tons over last year, and the release of titanium dioxide production capacity in 2024 is expected to increase by nearly 350,000 tons of titanium dioxide.

Titanium Dioxide Market Forecast in 2024:

After a brief pulse of consumption recovery brought about by the reopening of the economy in 2023, economic growth is expected to be closer to the “new normal” in 2024, with GDP continuing to pick up year on year and investment growth of about 4%, according to state news. Meanwhile, global trade is expected to contract slightly in 2024, but Chinese exports are still likely to grow slightly faster than the rest of the world. Given that import growth remains weak, the contribution of net exports to growth is expected to remain high, while the contribution of net exports to real GDP is likely to rise further.

Since the second half of 2023, the multi-level real estate policy has fully exerted its strength, and the current strength is gradually approaching 2014, and the state believes that 2024 May be the year of real estate stabilization;

The new production capacity of China’s titanium dioxide market continues to increase, and it is expected that the domestic titanium dioxide production capacity will reach 6 million tons in 2024, and the monthly production will exceed 500,000 tons;

The international market share will steadily increase, the export volume is expected to be 1.65 million tons in 2023, and the export volume of titanium dioxide will reach 1.8 million tons in 2024; Improve the quality of domestic products, enhance competitiveness;

The domestic supply of raw material titanium concentrate is still in a tight situation, the price continues to be high;

Titanium dioxide market in the high-speed increase in supply, although the terminal demand or growth, but compared with the titanium dioxide supply growth or weak, titanium dioxide market will enter the stage of oversupply, 2024 titanium dioxide enterprises are still under great pressure.